ere is your Bellasera Market Update for FEBRUARY 2015:

FOR SALE

10

- Average Asking Price

$652,370

- Average Square Feet

2,773

- Average Asking Price per Sq. Foot

$238

- Average Days on Market

88

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$862,450

- Average Square Feet

3,346

- Average Asking Price per Sq. Foot

$258

- Average Days on Market

38

- SHORT SALES – LENDER OWNED

0

SOLD*

0

- Average Sales Price

0

- Sales Price to List Price

0

- Average Square Feet

0

- Average Sales Price per Sq. Foot

0

- Average Days on Market

0

- Lowest Sale Price

0

- Highest Sale Price

0

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  23,960 - compared to JANUARY of 22,855.

There are 8,866 homes currently under contract compared to JANUARY of 6,878.

4,784 homes sold in JANUARY in the Valley compared to DECEMBER of  6,467.

THE MARKET:

From ARMLS STAT REPORT:  In the last 7 months of 2014, all but two of those months reported the lowest number of new listings in the 14 years ARMLS has been tracking new inventory. The final numbers for 2014 show only 107,902 new listings. In spite of the low sales volume in 2014, we begin 2015 with 1.7% fewer homes listed for sale than last year at this time.

Even though inventory numbers are very similar to where they were last year at this time, we have a little more wind in our sails. Put simply, our market is healthier. The price increases we’ve seen in the last 18 months are characteristic of a normal sustainable market, interest rates are at historical lows (3.86% Dec. 2014), the millennials are one year older, births are increasing, gas prices are low ($2.04 national average),boomerang buyers have had one more year to repair their credit and conventional buyers are making up a larger percentage of home purchases.

Charts below are through “DECEMBER” 2014:

feb1

 

  +8.8%, year-over-year         +30.2%, month-over-month

 

feb2

 
 

MSI NOV 2014 – 5.50                             MSI DEC 2014 – 3.84

 

feb3

 
 

feb4

 
 

  +4.4%, year-over-year average               +6.5%, year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2015 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

10

$238

      2

  $258

  0

$0

                  0

Terravita (1,380 homes)

33

$247

             15

          $240

12

$236

                  0

Winfield (511 homes)

 

  (*Custom Homes)

23

$224

    *3 - $354

               2

          $222

  2

$206

                  *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/1/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          211

 

PENDING

 

 

30

 

TOTAL SOLD 2015

 

 

0

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$284

      

 

    $223

 

 

$0

 

 

$0

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market   Updates)

Phoenix Business Journal: Housing ended 2014 on slow note, Phoenix home starts down 15 percent RL Brown Housing Reports finds 2014 ended with new and existing home sales down from 2013. Read more ...

Yahoo! Finance:  Better U.S. housing market makes it easier to trade up -  Read more ...

azcentral.com:  Phoenix home prices up, but sales fall in November -Read more ...

NAHB.org:   A More Robust Year for Housing in 2015 - A strengthening labor market, low interest rates, improving mortgage availability and growing pent-up demand will help to significantly boost single-family housing production in the year  ahead.  Read more ...

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 
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Dear Neighbors,

Here is your Bellasera Market Update for JANUARY 2015:

FOR SALE

5

- Average Asking Price

$643,280

- Average Square Feet

2,771

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

134

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$405,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$219

- Average Days on Market

13

- SHORT SALES – LENDER OWNED

1

SOLD*

0

- Average Sales Price

0

- Sales Price to List Price

0

- Average Square Feet

0

- Average Sales Price per Sq. Foot

0

- Average Days on Market

0

- Lowest Sale Price

0

- Highest Sale Price

0

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  22,855 - compared to DECEMBER of 24,815.

There are 6,878 homes currently under contract compared to DECEMBER of 8,345.

6,467 homes sold in DECEMBER in the Valley compared to NOVEMBER of  4,941.

THE MARKET:

There are many predictions for 2015 – most of them positive.  Some economists are predicting homes sales in 2015 to exceed 2014.  One reason 2015 will beat 2014 is that 2014 was not a great year when it came to home sales in Maricopa County.  The market is stable, but slow for showings and homes going under contract.  Predictions are that home prices in 2015 will increase 3%-3.5%.

Charts below are through November 2014:

image004

   -4.2% year-over-year       -18.9% month-over-month

image005

 

image010

image016

  +6.2% year-over-year average         +4.8% year-over-year median

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 5

$234

    1

  $219

  0

$0

                  0

Terravita (1,380 homes)

30

$243

             14

          $251

0

$0

                  0

Winfield (511 homes)

(*Custom Homes)

21

$221

    *2 - $330

              1

         $221

0

$0

         *0

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 1/2/15).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          211

 

PENDING

 

 

30

 

TOTAL SOLD 2015

 

 

0

SOLD

SHORT SALE-

LENDER OWNED

 

0

 

 

Average Price Per Sq. Ft.

 

 

$284

      

 

    $223

 

 

$0

 

 

$0

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market   Updates)

Home Sales Expected to Improve in 2015, but Some Headwinds Still Remain - Existing-home sales are expected to be higher next year and prices will remain at a healthier level of growth…Read more ...

5 Housing Market Predictions for 2015 - A new year is about to dawn—and the outlook on the housing market is definitely brighter.  Read more ...

Phoenix homes among most overvalued in the country - A report from Fitch Ratings says metro Phoenix houses are more overvalued than those in Los Angeles or San Francisco.  Read more ...

The world may not be flat, but Phoenix's housing market is - The latest report from ASU real-estate guru Michael Orr notes demand remains sluggish in the Valley's home market.  Read more ...

Real Estate in 2015 - What to Expect: (Information compiled from U.S. News & World Report, PRNewswire,Washington Post)

  • Millennials will account for the largest number of first time home buyer sales
  • Baby boomers are also likely to make a move in 2015 to downsize or move closer to family members
  • Available inventory will be on the rise
  • New 3 percent down payment programs by Fannie Mae and Freddie Mac should put purchasing a house within the reach of more buyers
  • Existing home sales will likely increase by 8%
  • Home prices will likely go up 4%-5%
  • Mortgage rates will likely be at 5%
  • Home affordability may decrease by 5-10% (due to increased mortgage rates and home prices)

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

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Dear Neighbors,

Here is your Bellasera Market Update for DECEMBER 2014

FOR SALE

3

- Average Asking Price

$729,600

- Average Square Feet

3,110

- Average Asking Price per Sq. Foot

$234

- Average Days on Market

86

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$405,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$219

- Average Days on Market

13

- SHORT SALES – LENDER OWNED

1

SOLD*

19

- Average Sales Price

$638,363

- Sales Price to List Price

96%

- Average Square Feet

2,752

- Average Sales Price per Sq. Foot

$231

- Average Days on Market

79

- Lowest Sale Price

$360,000

- Highest Sale Price

$885,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  24,815 - compared to NOVEMBER of 25,138.

There are 8,3455 homes currently under contract compared to NOVEMBER of 8,335.

4,941 homes sold in NOVEMBER in the Valley compared to OCTOBER of  6,235.

THE MARKET:

Bellasera still has unusually LOW inventory with just 3 homes for sale.  Now would be a good time to have your home on the market. 

July 2013 marked the end of a two year period of rapid price appreciation and heavy investor demand as the market bounced off its 2011 bottom. The market is still much the same and while our volume numbers are better year-over-year, demand is still extremely low.

image003

+1.9% year-over-year         -1.6% month-over-month

 

image004

 

image014

image016

+2.5%, year-over-year average        +4.1%, year-over-year median

 

CHART COMPARISON: BELLASERA  TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 3

$234

    1

  $219

19

$231

                  0

Terravita (1,380 homes)

34

$245

              7

          $248

61

$243

                  0

Winfield (511 homes)

(*Custom Homes)

17

$225

    *2 - $342

              3

         $235 

24

$221

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 11/30/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          205

 

PENDING

 

 

33

 

TOTAL SOLD 2014

 

 

258

SOLD

SHORT SALE-

LENDER OWNED

 

9

 

 

Average Price Per Sq. Ft.

 

 

$282

      

 

    $241

 

 

$225

 

 

$171

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

AZ: Houses sold by agents fetch higher prices, study shows - Hire a real-estate agent? List the property ourselves? Some homeowners who are ready to sell debate the issue. Read more ...

Loan Demand Slips After Recent Spike - With holidays approaching, even a drop in mortgage rates couldn’t keep loan demand up in the latest week. Read more ...

Phoenix:  Average price-per-square-foot up 7% from a year ago - Data released last week from ASU's W.P. Carey School of Business shows the Valley's median home-sales price dipped to $209,900 after hitting a 2014 high of $213,500 in August. Read more ...

 

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Bellasera Market Update

 

Dear Neighbors,

Here is your Bellasera Market Update for OCTOBER 2014

FOR SALE

5

- Average Asking Price

$700,580

- Average Square Feet

3,069

- Average Asking Price per Sq. Foot

$228

- Average Days on Market

83

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$513,700

- Average Square Feet

2,120

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

73

- SHORT SALES – LENDER OWNED

1

SOLD*

15

- Average Sales Price

$667,760

- Sales Price to List Price

96%

- Average Square Feet

2,903

- Average Sales Price per Sq. Foot

$229

- Average Days on Market

75

- Lowest Sale Price

$415,000

- Highest Sale Price

$885,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  24,082 - compared to AUGUST of 23,791.

There are 8,568 homes currently under contract compared to AUGUST of 9,447.

7,140 homes sold in SEPTEMBER in the Valley compared to JULY of  6,775.

THE MARKET:

The market has stalled as far as pricing.  The numbers continue to reflect a normal seasonal pattern - with Fall here, more homes are coming on the market.  We have about a 4 month supply of homes.  “An uncertain period of waiting for a decision or resolution.” That’s the definition of the word limbo and it perfectly describes our current market where low demand and a lack of new inventory have balanced the market into a standstill.

 

jimage004

jimage012

jimage013

jimage015

 

CHART COMPARISON: BELLASERA – TERRAVITA – WINFIELD  

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 5

$228

    5

  $240

15

$229

                  0

Terravita (1,380 homes)

22

$249

              4

          $237

57

$237

                  0

Winfield (511 homes)

(*Custom Homes)

16

$228

   

              3

         $232 

21

$212

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 10/7/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          174

 

PENDING

 

 

28

 

TOTAL SOLD 2014

 

 

223

SOLD

SHORT SALE-

LENDER OWNED

For 2014

6

 

 

Average Price Per Sq. Ft.

 

 

$275

      

 

    $216

 

 

$227

 

 

$178

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

HOUSINGwire.com, September 24, 2014 - New Single-Family Home Sales See Biggest Jump in 22 Years.  August increase to six-year high comes off disappointing July. Read more ...

REDfin.com, September 24, 2014 - Newly Listed Homes Fall a Unexpected 9.3% in August.  Prices continue to soften despite lower supply and strong buyer demand. Read more ...

AZcentral.com, August 25, 2014 - Ariz. Homebuying Slide Forces Builders to Deal.  New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales that has builders worried. Read more ...

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

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Dear Neighbors,

Here is your Bellasera Market Update for JUNE 2014

FOR SALE

4

- Average Asking Price

$489,475

- Average Square Feet

1,997

- Average Asking Price per Sq. Foot

$249

- Average Days on Market

85

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

3

- Average Asking Price

$723,267

- Average Square Feet

3,115

- Average Asking Price per Sq. Foot

$230

- Average Days on Market

96

- SHORT SALES – LENDER OWNED

0

SOLD*

11

- Average Sales Price

$645,682

- Sales Price to List Price

96%

- Average Square Feet

2,805

- Average Sales Price per Sq. Foot

$229

- Average Days on Market

73

- Lowest Sale Price

$415,000

- Highest Sale Price

$865,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  25,280 - compared to MAY of 26,119 .

There are 10,629 homes currently under contract compared to MAY of 11,388 .

7,511 homes sold last month in the Valley compared to MAY of  7,674.

THE MARKET:

The temps are going up and so has the housing market in the last 2 months. Buyer demand has picked up and closings reflect that with April and May the highest of the year so far.

What is a normal market?  It has been so long, we hardly recognize it, but we now have a normal supply and demand market, and normal seasonal buying patterns.  The last normal market was in 2003, that is why it feels so strange.  We have about a 3 1/4 month supply of homes in the Valley.

 

CHART COMPARISON: BELLASERA  TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 4

$249

    3

  $230

11

$229

                  0

Terravita (1,380 homes)

25

$250

              9

          $221

36

$243

                  0

Winfield (511 homes)

(*Custom Homes)

15

$222

    *3 - $354

              5

         $218

 

12

$219

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 6/5/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          196

 

PENDING

 

 

37

 

TOTAL SOLD 2014

 

 

132

SOLD

SHORT SALE-

LENDER OWNED

For 2014

5

 

 

Average Price Per Sq. Ft.

 

 

$267

      

 

    $218

 

 

$233

 

 

$184

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

Home Sellers: What a Great Agent Can Do For You

You already know the smart way to sell your home is through a real estate professional, but you may not realize how much your agent really does for you.  Read more ...

 

The Five Biggest Turn-Offs For Homebuyers

A lot of sellers don't listen to their real estate agents, so we'll tell you what your agent wants to say, but can't say to you and this is it - your agent can't get you the price you want unless your home is in pristine move-in condition.  Read more ...

 

Neutral To Sell Your Home, But Color To Live In It

When it comes to home décor and interior design, there is one thing that pretty much everyone agrees on: you should keep it neutral.  Read more ...

 

Forecast Calls for Phoenix Home Prices to Rise by 3.6 Percent

A new survey from Zillow.com is projecting that metro Phoenix home prices will rise 3.6 percent by April 2015.  Read more ...

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

Blinklist!Blogmarks!BlinkBits!Ask!

Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market update for MAY 2014

FOR SALE

7

- Average Asking Price

$528,229

- Average Square Feet

2,335

- Average Asking Price per Sq. Foot

$232

- Average Days on Market

88

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

5

- Average Asking Price

$775,480

- Average Square Feet

3,223

- Average Asking Price per Sq. Foot

$240

- Average Days on Market

81

- SHORT SALES – LENDER OWNED

0

SOLD*

8

- Average Sales Price

$620,688

- Sales Price to List Price

96%

- Average Square Feet

2,653

- Average Sales Price per Sq. Foot

$232

- Average Days on Market

67

- Lowest Sale Price

$415,000

- Highest Sale Price

$865,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  26,119 - compared to APRIL of 26,923.

There are 11,388 homes currently under contract compared to APRIL of 11,251 .

7,674 homes sold last month in the Valley compared to APRIL of  5,829.

THE MARKET:

CHART COMPARISON: BELLASERA TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 7

$232

    5

  $240

8

$232

                  0

Terravita (1,380 homes)

33

$245

             11

          $242

27

$245

                  0

Winfield (511 homes)

(*Custom Homes)

17

$225

    *5 - $327

              3

         $230

 

10

$214

         *2 - $252

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 5/7/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          2251

 

PENDING

 

 

41

 

TOTAL SOLD 2014

 

 

63

SOLD

SHORT SALE-

LENDER OWNED

For 2014

2

 

 

Average Price Per Sq. Ft.

 

 

$268

      

 

    $256

 

 

$231

 

 

$199

    *All Averages Includes

            Custom Homes

*SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website under “Market” for Housing Market Updates)

Why the Phoenix housing market has swung in favor of buyers

A year ago, the Phoenix-area housing market was facing a chronic shortage of homes for sale and surging prices exasperated would-be buyers.  Read more ...

 

Case-Shiller: 2 factors needed to keep home prices strong

"Going forward, if home prices continue to rise, there are a limited number of options to offset the rising cost of purchasing a home," Lindsey Piegza, chief economist with Sterne Agee, said.  Read more ...

SEEKINGalpha.com, April 23, 2014 – March Existing Home Sales Data Show Further Deterioration In The Housing Market

Existing home sales for March were released today by the National Association of Realtors. The report showed a small sequential decline from February. Read more ...

Americans Ready to Spend on Real Estate Again
Americans' outlook on the economy is improving and they're ready to make more purchases, especially regarding real estate, according to the latest PulteGroup Home Index Survey.               Read more ...

Cash home-buyers leaving the Phoenix market - Phoenix Business Journal                                         With all the bewilderment surrounding the housing market’s cool-off, one thing is abundantly clear: Cash buyers are losing their enthusiasm for the Phoenix area.
Read article

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Bellasera Market Update


 

Dear Neighbors,

Here is your Bellasera Market update for FEBRUARY 2014

FOR SALE

9

- Average Asking Price

$680,122

- Average Square Feet

2,817

- Average Asking Price per Sq. Foot

$242

- Average Days on Market

31

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$699,450

- Average Square Feet

2,804

- Average Asking Price per Sq. Foot

$247

- Average Days on Market

57

- SHORT SALES – LENDER OWNED

0

SOLD*

2

- Average Sales Price

$565,000

- Sales Price to List Price

96%

- Average Square Feet

2,584

- Average Sales Price per Sq. Foot

$215

- Average Days on Market

103

- Lowest Sale Price

$415,000

- Highest Sale Price

$715,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  25,720 - compared to December of 24,060.

There are 8,972 homes currently under contract compared to December of 8,784 .

4,838 homes sold last month in the Valley compared to December of  5,206.

THE MARKET:     See Chart Below

image0077

Elliott D. Pollack & Company specializes in Arizona economics and real estate states: Housing price appreciation has slowed in recent months, but the pace that was being realized last year was not expected to continue.  Overall the price trend is still moving up.  Resale prices, according to data reported by the Cromford Report, are up 19.3% year-over-year”.

CHART COMPARISON: BELLASERA  TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

 9

$242

    2

  $247

2

$215

                  0

Terravita (1,380 homes)

27

$262

              7

          $267

5

$228

                  0

Winfield (511 homes)

(*Custom Homes)

18

$230

    *4 - $346

3

$237

*1 - $292

4

$199

*1 - $212

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 2/3/14).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          201

 

PENDING

 

 

38

 

TOTAL SOLD 2014

 

 

24

SOLD

SHORT SALE-

LENDER OWNED

For 2014

1

 

 

Average Price Per Sq. Ft.

 

 

$272

      

 

    $249

 

 

$223

 

 

$165

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website “Market” for Housing Market Updates)

W. P. Carey: Phoenix Housing Market Explained
The Phoenix housing market has seen its share of extremes, but today the market is regaining balance.  The supply of homes available for sale is going up and prices of those homes are stabilizing and in some cases, coming down, said Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business.  Current homes prices have reached what he termed normal: what prices would have been had they increased gradually over time with the Consumer Price Index.
Read more...

Phoenix Business Journal - Arizona foreclosure market ranks among healthiest 
Read more ...


azcentral.com - Freezing weather prompts new interest in living in Phoenix 
Read more ...  

azcentral.com - Phoenix-area housing market tilts in favor of buyers
The number of houses for sale in metro Phoenix has climbed almost 40% in the past year.  With many more properties from which to choose, the market is tilting away from sellers toward people looking to buy.  This is the case for certain areas more than others, including the northwest Valley and Pinal County.  In closer-in communities and in luxury enclaves, the number of potential buyers and sellers is about at break-even. 
Read more...

LA Times - New federal rule gives home buyers better access to appraisals 
A new federal rule could give millions of home buyers insights they've never had before about a crucial element of their mortgage application: the appraisal including the electronic cross-checks and reviews now used by lenders to determine the amount of the loan they'll approve.  Lenders will be required to inform mortgage applicants that they can receive a free copy of whatever appraisals, reviews, computer valuations and other data are used in the transaction.
Read more ...

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

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Here is your Bellasera Market update for DECEMBER, 2013.

FOR SALE

5

- Average Asking Price

$654,271

- Average Square Feet

2,912

- Average Asking Price per Sq. Foot

$225

- Average Days on Market

65

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

2

- Average Asking Price

$576,459

- Average Square Feet

2,440

- Average Asking Price per Sq. Foot

$235

- Average Days on Market

101

- SHORT SALES – LENDER OWNED

0

SOLD*

20

- Average Sales Price

$546,810

- Sales Price to List Price

97%

- Average Square Feet

2,458

- Average Sales Price per Sq. Foot

$218

- Average Days on Market

83

- Lowest Sale Price

$350,000

- Highest Sale Price

$775,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

The number of homes currently for sale in the Valley are:  24,060 - compared to November of 23,705. 

There are 8,784 homes currently under contract compared to November of 8,868.

5,206 homes sold last month in the Valley compared to November of  6,285.

THE MARKET:  

 

image007

 

The inventory increased slightly last month. The market is flat – more days on market.

Elliott D. Pollack & Company specializes in Arizona economics and real estate feels the economy is improving, 2014 will be better than 2013 and as housing prices go up, more and more people will be able to sell their homes because they aren’t underwater.

CHART COMPARISON: BELLASERA TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

5

$225

    2

  $235

20

$218

                  0

Terravita (1,380 homes)

21

$252

              7

          $231

91

$214

                  4

Winfield (511 homes)

(*Custom Homes)

18

$235

    *6 - $319

              2

         $214

 *0 - $

27

$206

         *7 - $269

                  1

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 12/2/13).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          177

 

PENDING

 

 

38

 

TOTAL SOLD 2013

 

 

328

SOLD

SHORT SALE-

LENDER OWNED

For 2013

28

 

 

Average Price Per Sq. Ft.

 

 

$290

      

 

    $249

 

 

$207

 

 

$165

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website “Market” for Housing Market Updates)

Median sales price forecast to remain flat in November
This article covers ARMLS stats for October, plus a forecast for November:
- 14.1 percent: The percentage increase in the number of homes for sale compared with October 2012.
- 21.8 percent: Increase in median listing price from October 2012.
- 53.9 percent: The drop in pending foreclosures during the past year.
- 5 days: How much faster a home sold a year ago.
"Looking ahead to November, the pending price index predicts the median sales price will remain flat," said Tom Ruff, analyst for ARMLS.
Read more ...

The Fed's tippy-toe taper plans could not be more clear
Last week, Ben Bernanke laid out where the Fed's been, where it is now, and setting some wide boundaries for what lies ahead.  The Fed will reduce slightly its purchases of Treasurys and mortgage-backed securities upon any fig leaf of improving data, and then see how markets take tiptoe tapering.  The Fed's first try was jawbone-only in May and June.  Bernanke said the resulting jump in long-term rates "was neither welcome nor warranted" in the judgment of the Federal Open Market Committee.
Read more ...

Phoenix being called one of America's comeback cities
For a long time the sunny weather in Phoenix and Orlando was matched by their economic climates, as both enjoyed soaring housing prices and prosperity in the early 2000s.  Then the Great Recession jolted the cities.  However, both cities not only climbed back but used the downturn as an opportunity to strengthen the resilience of their economies and promote future growth.   The two cities' recoveries have much in common, including an emphasis on technology and renewed focus on education, quality of life, environment- and business-friendly policies and incentives, infrastructure and civic involvement.
Read more ...

'Resurgent Housing Sector' to Lead 2014 Economic Recovery
Mortgage giant Freddie Mac is expecting a good 2014 for housing. Economists predict a much stronger economic recovery will take hold next year, "led by a resurgent housing sector," according to Freddie Mac.  Economic growth is expected to be in the 2.5% to 3% range, more than half a percentage point better than what is expected for this year.  Economic growth will help spur more jobs.  Freddie predicts that in 2014 single-family home sales and housing starts will reach their highest levels since 2007.
Read more ...

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,

Here is your Bellasera Market update for NOVEMBER, 2013.

FOR SALE

4

- Average Asking Price

$634,200

- Average Square Feet

2,856

- Average Asking Price per Sq. Foot

$223

- Average Days on Market

70

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

1

- Average Asking Price

$423,000

- Average Square Feet

1,847

- Average Asking Price per Sq. Foot

$229

- Average Days on Market

74

- SHORT SALES – LENDER OWNED

0

SOLD*

20

- Average Sales Price

$546,810

- Sales Price to List Price

97%

- Average Square Feet

2,458

- Average Sales Price per Sq. Foot

$218

- Average Days on Market

83

- Lowest Sale Price

$350,000

- Highest Sale Price

$775,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALE, PENDING, and SOLD by FLOORPLAN.

***Call us for a listing presentation –  see below what Larry and Linda said about us when we sold their homes in Monterra, Terravita and Montevista.

Joan and Steve were a wonderful team. They helped us stage, market and sell our home, getting a good price and meeting all our objectives. They were prompt, attentive, and diligent in their efforts to maximize exposure for our home. In the process, we have become good friends and we highly recommend them as top notch real estate professionals. Larry and Linda

The number of homes currently for sale in the Valley are:  23,705 - compared to October of 20,415. 

There are 8,868 homes currently under contract compared to October of 9,678.

6,285 homes sold last month in the Valley compared to October of  6,353.

THE MARKET:

The foreclosure market is all but over.  A longer-term concern, one that will grow over the next year, is the concern of inflation and its affect on interest rates.  Significant rises in interest rates will affect the speed at which the housing market recovers.

The inventory had a 16 percent increase since October 2013. The market has slowed since summer and will be a “wait and see” as to the direction Buyers will take this Fall and Winter. 

CHART COMPARISON: BELLASERA TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

4

$223

    1

  $229

20

$218

                  0

Terravita (1,380 homes)

18

$254

              7

          $227

85

$212

                  3

Winfield (511 homes)

(*Custom Homes)

16

$227

    *4 - $342

              0

         $   0

 *1 - $229

27

$206

         *6 - $279

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 11/3/13).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

 

          166

 

PENDING

 

 

 

40

 

TOTAL SOLD 2013

 

 

 

306

SOLD

SHORT SALE-

LENDER OWNED

For 2013

22

 

 

Average Price Per Sq. Ft.

 

 

$270

      

 

   $240

 

 

$206

 

 

$155

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website “Market” for Housing Market Updates)

REDfinBlog, October 31, 2013Home Sellers Disappointed; 43 Percent Find Buyer Interest Waning

We polled 535 homeowners in 24 major metro areas across the U.S. Survey results indicate that home-seller confidence in buyer demand and the economy has fallen sharply from the summer.

Read more...

 

DSnews.com, October 28, 2013 – Slow Quarter Ahead Judging from Pending Home Sales

The National Association of Realtors’ Pending Home Sales Index for September indicates home sales will stumble in the year’s final quarter as buyers struggle with declining home affordability.

Read more ...

 

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

 

 TO SEARCH FOR HOMES - CLICK HERE

Blinklist!Blogmarks!BlinkBits!Ask!

Dear Neighbors,

Here is your Bellasera Market update for OCTOBER, 2013.

FOR SALE

4

- Average Asking Price

$627,475

- Average Square Feet

2,790

- Average Asking Price per Sq. Foot

$226.16

- Average Days on Market

54

- SHORT SALES – LENDER OWNED

0

 

 

PENDING

0

- Average Asking Price

0

- Average Square Feet

0

- Average Asking Price per Sq. Foot

0

- Average Days on Market

48

- SHORT SALES – LENDER OWNED

0

SOLD*

20

- Average Sales Price

$546,810

- Sales Price to List Price

97%

- Average Square Feet

2,458

- Average Sales Price per Sq. Foot

$218.13

- Average Days on Market

83

- Lowest Sale Price

$350,000

- Highest Sale Price

$775,000

- SHORT SALES – LENDER OWNED

0

The attached spreadsheets shows the homes that are FOR SALEPENDING, andSOLD by FLOORPLAN as well as CMA Maps for each.   ***Call us for a listing presentation –  see below what Lance and Susan said about us when we sold their home in Bellasera:

We highly recommend Joan & Steve for all of your real estate needs. From staging, marketing & the closing process, Joan and Steve were extremely knowledgeable and proficient. They went above and beyond from start to finish. Joan purchased a new comforter for our bed and Steve supplied touch-up paint and personally painted the trim of our garage to help in the staging process. We had an extremely challenging & long close due to some legality issues and Joan remained professional and completely supportive throughout the entire process. Joan and Steve responded promptly, whenever we had questions or concerns. If honesty and integrity are important to you, look no further than Joan & Steve.

THE MARKET:

“Change is in the air”!. Cooler temperatures are here and the market is pushing away from extremes and back toward a normal and balanced market.

As you have been reading, area home prices have risen dramatically since hitting a low point in September 2011.  The average price per square foot went up 24.3%.

The overall supply of available area homes is finally starting to rebound somewhat. The overall sales activity and month-to-month price increase was pretty stagnant this summer – which is normal for the summer months in Arizona!

Now, that the temperatures have dropped below 100 degrees and the snowbirds start returning, there might be a slight upward trend on pricing, but less than what we have seen in the last year.

The rate of foreclosures also continues to subside from the peak levels of spring 2009. Foreclosure starts – owners receiving notice their lenders may foreclose in 90 days – dropped 61 percent from July 2012 to this July. Completed foreclosures went down 56 percent.

The number of homes currently for sale in the Valley are:  20,415 - compared to September of 18,755. 

There are 9,678 homes currently under contract compared to September of10,861.

6,353 homes sold last month in the Valley compared to August of  8,158.

The GOVERNMENT SHUTDOWN:

Huffington Post ‎- 5 hours ago - Will the Government Shutdown Kill the Real Estate Recovery?

With more people being furloughed, and with sequestration cuts, will the fuel of the strongest driver of the recovery this year be extinguished? Read More...

CHART COMPARISON: BELLASERA  TERRAVITA - WINFIELD

 

FOR SALE /

AVG. SQ FT

PENDING/

AVG. SQ. FT

TOTAL SOLD 2013 /

AVG. SQ. FT.

SOLD-SHORT SALE-LENDER OWNED

Bellasera (360 homes)

4

$226.16

    0

  $0

20

$218.13

                  0

Terravita (1,380 homes)

11

$249.49

              4

        $233.35

81

$212.27

                  3

Winfield (511 homes)

(*Custom Homes)

11

$223.85

(*3 - $359.38)

              4

       $210.03

 

23

$204.80

     (*6 - $273.31)

                  0

 (Data from the Arizona Regional MLS (FLEX MLS) and subject to change – Information as of 10/1/13).

Below is a chart that just includes the Zip Code of 85266:

 

85266 Zip Code

 

FOR SALE

 

 

          133

 

PENDING

 

 

32

 

TOTAL SOLD 2013

 

 

289

SOLD

SHORT SALE-

LENDER OWNED

For 2013

21

 

 

Average Price Per Sq. Ft.

 

 

$275.54

      

 

  $203.04

 

 

$213.12

 

 

$151.74

    *All Averages Includes

            Custom Homes

**SEE ATTACHED STATISTICS

                   REPORT

 NEWS ON THE HOUSING MARKET: (check out our website for “Housing Update”)

Go to:  www.joanwallacehomes.com or www.stevewallacehomes.com

AZCentral.com, September 20, 2013 – Phoenix-area Home Starts, Jobs Fell in August

Homebuilding slowed slightly in metro Phoenix during August, and the number of construction workers on the job dipped. There are two signs a long-awaited recovery of the region’s new-home market is on hold.

Read More ...

 

HousingWire.com, September 20, 2013 – CoreLogic Data: Housing Recovery is Undeniable

The only question is will it last? The housing recovery is undeniable even if some people believe it's built on artificial lifts or unlikely to last long-term.

Read More ...

 

USnews.com, September 19, 2013 – 7 Reasons to Buy a House Before 2014

If you've been thinking about taking the plunge and buying a home, the last quarter of 2013 might just be the time to do it.

Read More ...

 

DSnews.com, September 23, 2013 – Barclays Issues Housing Forecast

Barclays forecasts U.S. housing prices to rise by 11.0 percent in 2013 and 7.0 percent in 2014, based on data through the second quarter.

Read More ...

 

usatoday.com · July Home Prices Rise but Pace is Slowing:

Home prices rose strongly in July but the rate of increase may have peaked, a widely watched housing index shows. July home...

Read More ...!

 

DSnews.com, September 19, 2013 - Trulia: Owning Significantly Cheaper Than Renting Despite Rising Rates

Despite rising interest rates, owning a home is still significantly cheaper than renting at a national level and in most large metropolitan areas, according to Trulia’s Summer 2013 Rent vs. Buy Report.

Read More ...

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