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

$370,000 :: 2533 E TULSA Street, Gilbert AZ, 85295

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3 beds, 2 baths
Home size: 1,914 sq ft
Lot Size: 10,019 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6062667
Community: GATEWAY RANCH
Tract: GATEWAY RANCH
Status: Active


Beautiful home located in highly sought after Gateway Ranch. Pride of ownership is evident in this 3 bedroom home. You'll enjoy the large great room with gas fireplace, dining area and tons of natural light from all the windows. The eat in kitchen features an island with a custom butcher block top. The master bathroom features dual sinks along with separate tub and shower and large walk in closet. The backyard has a watering system, tons of trees for extra shade, large gardeners storage shed and extended length patio with ceiling fans. The garage is extended in length giving you an extra 4 feet of depth.

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/!


$544,950 :: 3679 E KIMBALL Road, Gilbert AZ, 85297

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5 beds, 3 baths
Home size: 3,800 sq ft
Lot Size: 9,584 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063278
Community: CORONADO RANCH PARCEL 6
Tract: CORONADO RANCH PARCEL 6
Status: Active


Beautiful 5 bed/3 bath/loft home W/Pool in sought after Coronado Ranch in Gilbert. Absolutely GREAT community & schools! Many NICE UPGRAEDS in this home. Separate Living, Family, & Dining rooms. Recently FULLY remodeled Kitchen features staggered Premium cabinets, BIG island, quartz counters, SS appliances, tile backsplash, & soft close hardware. Master bath FULLY remodeled with HUGE walk-in tiled shower w/dual sprayers. ALL new ''wood plank'' tile & carpet. NEW paint. ALL baths & laundry have been remodeled too! Inviting private backyard has a Large cvrd patio, pebble finished pool w/water feature, & plenty of space for entertaining & relaxing. Only minutes away from lots of shops, restaurants, & the NEW Gilbert Regional Park. Move-in ready--COME SEE THIS HOME NOW!

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/!


$489,000 :: 735 N YUCCA Street, Chandler AZ, 85224

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4 beds, 3 baths
Home size: 2,730 sq ft
Lot Size: 8,277 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063270
Community: ANDERSEN SPRINGS
Tract: ANDERSEN SPRINGS
Status: Active


Andersen Springs, 4bdrm, 3bath,3 car garage and pool. Beautiful community greenbelt and park behind home. New carpet throughout. Formal living & dining with soaring ceilings, neutral color palette and plantation shutters. Open concept family room with wet bar, built-in cabinetry and cozy fireplace. Eat-in kitchen has an abundance of walnut cabinets, granite counters, SS appliances.Downstairs master , sitting area with full en-suite including a large double vanity, soaking tub, glass door step-in shower, private toilet room and large closet. Powder room and laundry downstairs. Generous sized secondary bedrooms and loft upstairs.The resort style backyard has a covered patio, beautiful pool & spa w/water feature, outdoor fireplace/conversation area. Close to schools, shopping and the loop 101

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/!


$359,900 :: 1220 W SEASHORE Drive, Gilbert AZ, 85233

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3 beds, 2.5 baths
Home size: 1,638 sq ft
Lot Size: 5,663 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063261
Community: ISLANDS PATIO HOMES B AMD LOT 95-192 TR C-E
Tract: ISLANDS PATIO HOMES B AMD LOT 95-192 TR C-E
Status: Active


You and many other will like this property has new upgraded low E windows and Patio door, freshly painted, new fan all on remotes - new lighting all LED except Garage*All new flooring Tile and carpet-except stairs/landing and 3rd bedroom, Baths look at the changes* kitchen upgraded appliances (Knock on the refrigerator door glass door twice - push button on handle,,look at the convection oven and the rest of the upgrade s) now open the cabinet under the sink - the disposal has has a motion light that goes on when door is open. Many other upgrades for you to explore and waiting for you to move in don't forget the Family and furniture. The whole valley is relatively close to you. Check the Islands out and find out what is offer for might really like the Islands

Listed with R & C Real Estate Investments, LLC


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


$347,500 :: 941 S Utilis Drive, Gilbert AZ, 85296

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4 beds, 2.5 baths
Home size: 2,584 sq ft
Lot Size: 3,485 sq ft
Added: 03/09/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6048089
Community: Cooley Station North
Tract: Cooley Station North
The price of this listing was last reduced on 4/7/2020 by 0%
Status: Active


Hurry! Come check out this awesome 4 bed 2.5 bath, 3 CAR GARAGE home situated on a PREMIUM LOT! This home has many builder upgrades including granite counter tops and stainless steel appliances. It also features a closed in private patio that overlooks a spacious greenbelt. Convenient upstairs laundry room with washer & dryer included! HUGE open loft area as well for plenty of space for entertaining. Very large and spacious master bedroom and bathroom. Other bedrooms are also generously sized and all feature walk-in closets. The neighborhood offers many walking trails that lead to the three community pools & play areas in popular Cooley Station. Highly sought after location next to plenty of shopping and dining and also freeway access. Come see for yourself today!

Listed with On Q Property Management


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


$925,000 :: 1465 W ISLAND Circle, Chandler AZ, 85248

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3 beds, 2.5 baths
Home size: 3,208 sq ft
Lot Size: 23,959 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063218
Community: ISLAND AT OCOTILLO LOT 1-23 TR A
Tract: ISLAND AT OCOTILLO LOT 1-23 TR A
Status: Active


Premium Corner Waterfront Lot with No Neigbhors! Located in the Desirable Community of ''The Island at Ocotillo!'' Original Owner. 3 Car Garage! Beautiful Lush & Mature Landscaping! Huge Covered Patio! Phenomenal Curb Appeal! Excellent Floorplan & Good Bones! Quality Built Home! Master Bedroom two way fireplace & Family Room Fireplace! Formal Living & Dining Room! Offie w/ Book shelves! Wet Bar! Large Laundry Room with Built-In Ironing Board!

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/!


$499,000 :: 925 W LAREDO Avenue, Gilbert AZ, 85233

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5 beds, 3 baths
Home size: 3,755 sq ft
Lot Size: 8,277 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063240
Community: MADERA PARC ESTATES
Tract: MADERA PARC ESTATES
Status: Active


Conveniently located in Gilbert with quick access to freeways, parks and shopping. This well-appointed home has formal living, dining and great room. 9-foot ceilings, 9-inch baseboards, custom shutters and blinds throughout. A highly upgraded kitchen with island, stainless steel appliances, pantry, granite countertops and custom cabinets. Your huge master bedroom has a bay window and walk-in closet. The master bath has separate tub and shower and upgraded tile flooring. There's so much space to spread out, you even have an additional bonus/theater room! Don't forget about your backyard oasis with north/south exposure, extended back patio, pebble tech pool, waterfall and custom travertine decking. There's so much more, you must see to believe!

Listed with Superlative 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/!


$619,000 :: 3690 S VISTA Place, Chandler AZ, 85248

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6 beds, 3 baths
Home size: 3,227 sq ft
Lot Size: 9,584 sq ft
Added: 10/25/19, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 5997016
Community: SPYGLASS BAY
Tract: SPYGLASS BAY
The price of this listing was last reduced on 4/7/2020 by 2%
Status: Active


STUNNING & SPACIOUS BASEMENT HOME LOCATED IN HIGHLY DESIRED SPYGLASS BAY IN OCOTILLO*PERFECT FLOORPLAN*6 BEDROOMS, 3 BATHS*VAULTED CEILINGS*FORMAL LIVING & DINING*FAMILY ROOM W/FIREPLACE & SURROUND SOUND*KITCHEN INCLUDES:SLAB GRANITE,ISLAND,S/S APPLIANCES,GAS COOKTOP, & BREAKFAST NOOK*LARGE MASTER SUITE*MASTER BATH W/DUAL VANITIES,SOAKING TUB, SEPARATE SHOWER, & WALK-IN CLOSET*PLANTATION SHUTTERS THROUGHOUT*UPGRADED FIXTURES*MAIN LEVEL HAS MASTER BEDROOM & 3 BEDROOMS*FULLY FINISHED BASEMENT WITH MEDIA/GAMEROOM & 2 BEDROOMS WITH FULL BATH*LARGE SECONDARY BEDROOMS*PARADISE BACKYARD W/SPARKLING PEBBLE SHEEN DIVE POOL,BAJA STEP,JACUZZI,COVERED PATIO,GRASSY PLAY AREA,PAVERS, & RV GATE*3-CAR GARAGE W/BUILT-INS & EPOXY*CLOSE TO FREEWAYS,ENTERTAINMENT,SHOPPING,GOLFING, & EXCELLENT SCHOOLS!!!!

Listed with West USA 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/!


$335,000 :: 2586 S SETON Avenue, Gilbert AZ, 85295

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3 beds, 2 baths
Home size: 1,623 sq ft
Lot Size: 6,970 sq ft
Added: 03/26/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6056843
Community: CHAPARRAL ESTATES PARCELS 1 2 3 & 4
Tract: CHAPARRAL ESTATES PARCELS 1 2 3 & 4
Status: Active


Great home that is ready to be yours! Steps from top a rated elementary school, The San Tan Mall, Loop 202, the Amazing Gilbert Regional Park, and much more! Situated on a large corner lot that borders the greenbelt, you will find low maintenance landscaping, a private backyard with artificial turf, fire pit, and a dog run. Inside the home is an open split floor plan that features 3 bedrooms, 2 baths, 9+ flat ceilings with ceiling fans throughout. Fresh paint, new carpet, and tile in all the right places. The kitchen opens up to the family room which is great for entertaining. Master Suite is spacious and the Master Bathroom features dual sinks, jetted tub, shower, private toilet room, and a Walk In Closet. The home is VACANT and has HAND SANITIZER and CLOROX WIPES, Schedule a tour today!

Listed with Ashby Realty Group, LLC


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


$302,000 :: 3311 E CHICKADEE Road, Gilbert AZ, 85297

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2 beds, 2 baths
Home size: 1,529 sq ft
Lot Size: 8,277 sq ft
Added: 04/07/20, Last Updated: 04/07/20
Property Type: Single Family
MLS Number: 6063152
Community: WINDMILL RANCH
Tract: WINDMILL RANCH
Status: Active


This home in Gilbert offers an island kitchen with stainless steel appliances and granite countertops, a den, plantation shutters, a master suite with patio access, a bay window, and a walk-in closet with built-ins, a master bath with dual sinks, granite countertop vanity, and a private toilet room, a covered patio, built-in backyard BBQ, and an attached two-car garage.

Listed with Opendoor Brokerage, LLC


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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