How has Phoenix Real Estate started in 2013?

Dobson Ranch WaterfrontPhoenix Area Real Estate Review

The Phoenix area real estate market was good to home owners in 2012.  It was the first year of appreciation since 2005. Buyers frequently found themselves frustrated by the competion for homes  especially those under $200K where there is an abundance of first time home buyers and investor demand.  After a robust year in 2012, how is 2013 shaping up?

What has changed since a year ago?

As part of the healing process in the real estate market, the number of short sales and foreclosures continue to decrease.   Distressed Sales by City April 2013The graph to the left shows the percentage of sales of short sales /pre-foreclosures and lender owned/foreclosures by city.   Compared to a year ago, there has been significant improvement.  If you were to look at the same graph from a year ago, each city has experienced a reduction in distressed sales. For example, Gilbert went from 45% distressed sales to 21%!  Glendale saw a change from 54% to 31%. Mesa went from 46%  to 29%. Chandler saw distress sales fall from  51% to 28%.  Scottsdale fell from 25% to 12%.  Every city in  the Phoenix area saw a decrease in short sale and lender owned properties. To appreciate where we are,  you only need to look back  to 2011 when the distressed sales were over 60% of total sales in most Phoenix area cities.

Foreclosure graph by typeThe reduction in distressed properties, especially lender owned/foreclosures/REO properties can be demonstrated in the active listings over time.  To the  right is a graph for the last 2.5 years  of foreclosure inventory in varying stages for the Phoenix area.  Pending foreclosures represent  properties that have received a notice of trustee sale which may become foreclosures, short sales, or remedied through loan modifications.  The reduction has been significant.  When you look at Unlisted Foreclosures, please repeat – No Shadow Inventory!. Arizona is a non-judicial foreclosure state, but that is another blog.

Right Now Its All About Inventory or the lack of

The combination of record low interest rates and buyer awareness that prices are rebounding has created a real estate demand that cannot be satisfied by the Gilbert Months Supply 2013 Maycurrent supply.  The result is low inventory and multiple offers on many properties as they come on the market.  One way to compare supply and demand is to measure the supply in terms of months of supply.  Most cities are experiencing low months of inventory supply similar to the graph to the left for Gilbert, a popular east valley city.  The months of supply for Gilbert has not been this low since 2005.

Gilbert Homes for Sale

If you would like to receive listings of homes  for sale in any city, go to Send Active Listings.

What does this mean for prices?

Phoenix Avg. Sales Price April 2013Low inventory and strong demand translates into rising prices.  To the right is a graph for over the last 2 years for the city of Phoenix which contains a diverse cross section of real estate.  The appreciation that took hold in 2012 has continued in 2013.  Real  estate price appreciation can vary between cities  and even between neighborhoods. If you would like to know the average sales price/sq.ft. trend for your city, please e-mail me your city and I’ll forward it to you. If you would like to know the value of your home, click on What’s the Value of My Home.

What will the rest of 2013 bring?  One long running favorable trend is the decrease in distressed sales which appears will continue for the rest of the year.  And everyone has benefited from low interest rates.  These historically low rates have motivated buyers to lock in lower mortgage payments compared to years past. At the beginning of the year, I estimated that real estate would appreciate 8 – 12%. Right now I believe that we’ll end up at the higher end of that range.  Your thoughts?

Related Posts

Over-Priced Fannie Mae Foreclosures and Short Sales

Phoenix Area Distressed Sales 2012  compared to 2011

Who Really Loses on  a Foreclosure? The Bank – Think Again

A Look Back to Real Estate for 2012

Chandler Homes  for Sale

$459,900 :: 783 E TORREY PINES Place, Chandler AZ, 85249

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3 beds, 2 baths
Home size: 2,458 sq ft
Lot Size: 9,148 sq ft
Added: 01/11/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5866856
Community: LAGOS VISTOSO
Tract: LAGOS VISTOSO
The price of this listing was last reduced on 3/22/2019 by 1%
Status: Active


OVER 60K spent in 2018 REMODEL.. A MUST SEE! Photo rendering shows pool potential. Gorgeous WATERFRONT ESTATE in a GATED Chandler Community situated on a Premium N/S Exp. WATERFRONT Lot next to Common Area. Single Level, 3 car garage, Formal Living & Dining, Lrg. Open Family Rm. & Kitchen Area and a whole lot of LAKEVIEW! Enjoy the separate eat-in breakfast area w/sliding door that leads out to 1 of 2 outdoor covered spaces featured in this unique plan. Additional features incl; Separate Den/Office & Master Bedrm. SPLIT FLOOR-PLAN. Kitchen remodel includes quartz counters, glass tile back-splash and all new stainless appliances, sink and fixtures. Added kitchen features incl; walk-in pantry,

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$420,000 :: 2682 E ZION Way, Chandler AZ, 85249

3 beds, 2 baths
Home size: 2,380 sq ft
Lot Size: 10,019 sq ft
Added: 04/22/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5914281
Community: FONTE AL SOLE
Tract: FONTE AL SOLE
Status: Active


Comfort and Luxury awaits with this stunning beauty on almost a 1/4 acre premium lot. This incredible property offers a tropical paradise right in your own backyard, play pool has large sloping entry and large waterfall feature. You will spend many days and nights entertaining family & friends creating lifetime memories with this one of a kind resort retreat all viewable from the great room. The kitchen, is complete with large radius form granite island, pantry and ample counter and cabinets. Split floor plan with Master bedroom off the greatroom, boasts large bathroom, separate tub/shower, walkin closet, views and separte entry to pool. Perfect for work from home with open den. The garage is extra large and extended for your large vehicles and allows for full access custom cabinet

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$319,999 :: 1175 E GAIL Drive, Chandler AZ, 85225

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3 beds, 2.5 baths
Home size: 2,248 sq ft
Lot Size: 4,356 sq ft
Added: 03/03/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5890987
Community: AVALON PARK - CHANDLER VILLAGE MCR 918-49
Tract: AVALON PARK - CHANDLER VILLAGE MCR 918-49
The price of this listing was last increased on 4/22/2019 by 3%
Status: Active


Don't settle for a home built in the 90's!! This Beautiful 3 bedroom/2.5 bathroom home is in a great location and walking distance to Safeway shopping Center, Shumway Elementary School and Provinces Park. The upstairs features a master bedroom, 2 additional bedrooms with great closet space and loft. In addition, there is a separate laundry room and hallway with storage cabinets, new carpet and paint.The lower floor is complete with tile flooring and entertainment center prewired for surround sound.Includes washer/dryer and refrigerator. Great home, great location and best of all GREAT PRICE! Schedule your showing today.

Listed with neXGen Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$450,000 :: 3079 S PORTER Street, Gilbert AZ, 85295

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5 beds, 3 baths
Home size: 2,603 sq ft
Lot Size: 14,375 sq ft
Added: 04/05/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5905910
Community: SPECTRUM AT VAL VISTA PARCEL 19
Tract: SPECTRUM AT VAL VISTA PARCEL 19
The price of this listing was last reduced on 4/19/2019 by 3%
Status: Conditional


Stunning Single level and freshly painted house on over 14,400 sq ft lot!!! Great room Design, features 5 bedrooms & 3 full baths . Gorgeous Upgrades,Plantation Shutters throughout, Extensive tile flooring,New Carpeting, Designer kitchen Granite Slab Counters, Rich cherry cabinetry, Stainless steel appliances, new Hood, New dish washer.Smooth cook top, Walk-in pantry, Large Split master and luxurious bath, central vacuum system, soft water, ceiling fans central vacuming system.,Room to roam in the beautiful east facing backyard, Lagoon style pebble finish pool with waterfall and in floor cleaning system. Great for entertaining .This beautiful home is move in ready and better than new. Very motivated seller. Show anytime

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$424,900 :: 637 E INDIAN WELLS Place, Chandler AZ, 85249

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4 beds, 3 baths
Home size: 3,001 sq ft
Lot Size: 8,712 sq ft
Added: 03/15/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5897133
Community: LAGOS VISTOSO
Tract: LAGOS VISTOSO
The price of this listing was last reduced on 4/22/2019 by 0%
Status: Active


Awesome Waterfront Property in Gated Community. Granite Kitchen Island. Large tile Floors. NEW Top of the line AC units 2016. Enjoy your full length covered patio looking out to the water while sitting in your hot tub. . One full bedroom and full bath down stairs with formal living and dining rooms with large kitchen nook. Master Bedroom upstairs with separate shower and tub and walk in closet. Loft upstairs

Listed with Keller Williams Realty East Valley


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$349,950 :: 3954 E DOUGLAS Loop, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,952 sq ft
Lot Size: 8,277 sq ft
Added: 04/07/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5908059
Community: CAROL RAE RANCH
Tract: CAROL RAE RANCH
The price of this listing was last reduced on 4/22/2019 by 1%
Status: Active


This almost 2,000 sqft home has 3 Bedrooms + Den. But the ''JEWEL'' of this home is the 16'X36' DIVING POOL. Good friends and good times will be enjoyed in this backyard oasis for years to come. A rich mixture of Cool deck and Brick Pavers create a wonderful blend of color mixed in with your green, green grass area. Duck under the covered patio for those hot July days, and enjoy a refreshing dip in the pool with a surprise cannon ball off the deep end. What fun you will have. The interior of this well-kept home is immaculate amidst the newly painted neutral wall colors. And check out the wood-like flooring just installed in the den. NEW AC in 2018. You will love the comfortable flow of space between the formal Living Room - Recently updated Kitchen - and Family Room. A MUST to see.

Listed with JK Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$304,500 :: 3423 E SANTA FE Lane, Gilbert AZ, 85297

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4 beds, 2 baths
Home size: 1,884 sq ft
Lot Size: 6,970 sq ft
Added: 04/19/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5913973
Community: SAN TAN RANCH PARCEL 8
Tract: SAN TAN RANCH PARCEL 8
Status: Conditional


You will absolutely love this authentic property now available in delightful Gilbert. Professionally landscaped with beautiful grassy front landscaping and stone accents on the facade. Take a look at this impeccable interior complete with 4 bed, 2 bath, living/dining area, den great for an office, and neutral color palette throughout the entire house. Well maintained kitchen features sparkling stainless steel appliances, large island with sink and breakfast bar, honey oak cabinetry, pantry, and recessed lighting. Inside this double-door master suite you will find picture windows, lavish full bath with dual sinks, separate tub, step-in shower, and walk-in closet. Gorgeous grassy backyard with covered patio is ideal for entertaining. Live your best life in a great home & neighborhood now!

Listed with Revelation Real Estate


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$764,900 :: 3155 E BLACKHAWK Court, Gilbert AZ, 85298

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5 beds, 4 baths
Home size: 3,813 sq ft
Lot Size: 25,701 sq ft
Added: 01/18/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5869772
Community: ACACIA
Tract: ACACIA
The price of this listing was last increased on 4/22/2019 by 1%
Status: Active


Semi-Custom home on over 1/2 ACRE, Gourmet Kitchen, Huge yard, open floorplan and great for family gatherings. Volume BreakfastNook, long curved raised bar with aircraft carrier size Island in Kitchen and formal dining area. Huge Master Suite w/ patio access, His &Her closets, large linen closet and large walk in tile shower with 3 shower heads! Guest Room with large walk in closet and separate bathwith walk in tile shower. Bedrooms 2 and 3 have walk in closets and access Jack & Jill bathroom w/ walk in tile shower and dual vanitysinks. Office / Exercise Room has ceramic tile flooring and hallway access to full bath. Entry Courtyard with water feature and all pavers!Back yard is completely landscaped lots of trees, Garden with watering system timer,

Listed with Realty Executives


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$379,000 :: 619 W SHERRI Drive, Gilbert AZ, 85233

4 beds, 2.5 baths
Home size: 2,036 sq ft
Lot Size: 7,406 sq ft
Added: 04/22/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5915163
Community: TEMPLETON PLACE LOT 1-133 TR A
Tract: TEMPLETON PLACE LOT 1-133 TR A
Status: Active


Want to be close to everything, while having plenty of room for all of your cars, boats, & RVs--without an HOA? This is the home for you! All of the bedrooms are huge--1 even has its own private balcony! Brand new flooring & paint in modern colors throughout! The master bedroom is light & bright with vaulted ceilings, a bathroom with large vanity area, a walk-in shower, & a walk-in closet. Lots of windows throughout making the home full of natural light. The backyard has a sparking HEATED pool & large grassy area shaded by a mature tree & storage shed. Relax floating in the pool with a drink in your hand, the warm Arizona sun on your skin, & the smell of food grilling on the bbq! Home has been well cared for with only 2 owners! The location & price of this home are unbeatable, so don't wait!

Listed with Realty ONE Group


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,125,000 :: 2716 E CAROB Drive, Chandler AZ, 85286

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5 beds, 4 baths
Home size: 4,427 sq ft
Lot Size: 19,602 sq ft
Added: 04/22/19, Last Updated: 04/22/19
Property Type: Single Family
MLS Number: 5914999
Community: WHITEWING AT KRUEGER
Tract: WHITEWING AT KRUEGER
Status: Active


Single story Spanish/Mediterranean custom home. 5 bdrm/4bath, great room, dining room, media room. Private entry courtyard w/gas fireplace, beautiful rod iron glass front door. Great room w/gas fireplace and built-in media niche. Wet bar. Large gourmet kitchen with Viking appliances, alder cabinets, and granite countertops. Large nook with built-in buffet. Travertine flooring and carpet, wood shutters and custom drapes T/O. Back patio w/fireplace. Pool.

Listed with Homie


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


 

 

 

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