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

$349,700 :: 3828 E GIDEON Way, Gilbert AZ, 85296

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4 beds, 4 baths
Home size: 2,889 sq ft
Lot Size: 4,791 sq ft
Added: 11/16/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5848210
Community: COOLEY STATION NORTH PARCEL 1 VARIOUS LOTS REPLAT
Tract: COOLEY STATION NORTH PARCEL 1 VARIOUS LOTS REPLAT
The price of this listing was last reduced on 12/14/2018 by 0%
Status: Active


Hurry to see this amazing Fulton home! Featuring gorgeous living room, tons of natural light, neutral paint, huge loft, beautiful den/office room, 4 bed, 4 bath, and lovely front deck with fantastic views. This is it!! Incredible kitchen outfitted with stainless steel appliances, granite countertops, walk-in pantry center island with breakfast bar, mosaic backsplash, and crown molding in the cherry cabinets. There are two marvelous master suites (one downstairs & one upstairs) with walk-in closet, full bath, double sinks, separate tub, and step-in shower. Backyard is perfect for gatherings with its paved patio and synthetic grass. Community offers pools, BBQ areas, green belts, and playgrounds! If you want a great neighborhood and incredible home, this is it!

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/!


$378,000 :: 2131 W SHANNON Street, Chandler AZ, 85224

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3 beds, 2 baths
Home size: 2,296 sq ft
Lot Size: 6,534 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857804
Community: CAPRIANA
Tract: CAPRIANA
Status: Active


Don't miss out on this beautiful, single level home in a desirable Chandler neighborhood. This home has been meticulously maintained by it's original owner!! Pride of ownership shows throughout. Every square inch of this home is EXTREMELY clean!! The home features 3 bedrooms, 2 bathrooms and a large office/game/guest room. This Fulton model has a formal dining, living and large kitchen that is open to the family room and perfect for entertaining. Master bedroom is fitted with a beautiful tiled shower and serperate tub. Walk outside onto the covered patio to see a blue oasis perfect for Arizona weather. Landscape doesn't have a rock out of place or a weed in sight. Location is amazing right next to Whole Foods,Sprouts,Chandler Fashion Square,Freeway access,and top rated schools.

Listed with Perkinson Properties 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/!


$799,999 :: 2553 W EL ALBA Way, Chandler AZ, 85224

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4 beds, 2 baths
Home size: 3,036 sq ft
Lot Size: 71,874 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857803
Community: CABALLOS RANCHITOS
Tract: CABALLOS RANCHITOS
Status: Active


Horse Lovers Dream Equestrian Estate set on 1.65 acres custom home, no HOA. Newly total remodel Travertine Floors, Gourmet kitchen Cherry Cabinets, Granite Countertops and Stainless Appliances. Entertainers Delight home over 3000sq ft 4 Bedrooms. Executive Master Suite over sized with luxury Jacuzzi Tub, Shower/Dressing Area and private entry to back patio or can be lock off suite AIR BNB split side of home. Formal Dining Room and Living Room all Travertine Floors. Training Facility with 24 stalls, custom built, auto-waters, arena, lounging pen, galvanized rail fences, 4 turn out/green pasture and flood irrigation. New Tile roof. Sparkling Diving pool to enjoy az and party entertaining area. Luxury neighborhood surrounded by some Million$Homes.Close to #101 and Shopping.Make Offer!

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/!


$499,300 :: 1424 W BRUCE Avenue, Gilbert AZ, 85233

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4 beds, 3.5 baths
Home size: 3,065 sq ft
Lot Size: 5,662 sq ft
Added: 09/28/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5826128
Community: ENCLAVE AT NORTH SHORE
Tract: ENCLAVE AT NORTH SHORE
The price of this listing was last reduced on 12/14/2018 by 0%
Status: Active


LOCATION! DON'T MISS OUT! Owner wants it sold.. Your chance to enjoy this RARE NEW home before 2019 that is move-in ready w/pool, $10K in shutters, garage storage, and MANY other new build & after market upgrades. Features incl; 4 Bedrm. 3.5 Baths, +Bonus Rm/Loft, +DEN and Guest Suite, Additional Upgrades incl; Iron Staircase, Wood Plank Tile, Upgraded Berber Carpet & Pad, Dark Rich Cabinetry, Shutters, Pavered Driveway and so much more! You'll LOVE this Open Great Rm. Floor-plan and the STUNNING GOURMET KITCHEN. Features incl; Granite Counters, Gas Cooktop, 42'' Staggered Espresso Cabinets, Lrg. Cntr. Island, HUGE walk-in pantry & separate Dining Rm.

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/!


$569,000 :: 4341 E Carriage Way, Gilbert AZ, 85297

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5 beds, 3 baths
Home size: 3,275 sq ft
Lot Size: 10,454 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857730
Community: Power Ranch Neighborhood 1
Tract: Power Ranch Neighborhood 1
Status: Active


Partially remodeled 5 bedroom + Den, with 3 baths AND POOL, located in Gilbert's Power Ranch community. Want a bedroom on the first floor? Check!! Want the open floorplan look, large enough to host the extended family? Check!! How about a classy Den with Barn Doors? Check!! And of course a Kitchen to write home about, with White Cabinetry, Decorator Backsplash, lots of Granite, and like-new Appliances? Check!!. Then there is the huge backyard, with extra-long Covered Patio, with BBQ grill. Take a dip in the POOL and relax in your heated SPA. What more could you ask for? Try seeing yourself chillin outside the upstairs Master Bedroom on your private Patio, taking in the views! The elegant Master Bath area is stunningly beautiful. 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/!


$295,000 :: 1107 E HARBOR VIEW Drive, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,521 sq ft
Lot Size: 8,712 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857727
Community: HARBOR VIEW AT WIND DRIFT
Tract: HARBOR VIEW AT WIND DRIFT
Status: Active


Check out the Virtual 3D tour in the Photos section!! This home is located in the popular Wind Drift Lake Subdivision This single level 1,521 square foot home boasts three bedrooms and two full bathrooms all located on an ideal large lot. This is a turn key home that incorporates numerous enhancements such as; new tile flooring with tile baseboards, newer carpet a custom front door, energy efficient dual pane windows, beautiful interior paint, and two fully remodeled bathrooms. The convenient breakfast bar is ideal for entertaining family and friends. The over sized backyard has a huge side yard with an RV gate! There is also a transferable home warranty!

Listed with Delex 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/!


$350,000 :: 1265 W LAREDO Street, Chandler AZ, 85224

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4 beds, 2 baths
Home size: 1,714 sq ft
Lot Size: 7,840 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857723
Community: VILLA HACIENDA
Tract: VILLA HACIENDA
Status: Active


Completely remodeled GORGEOUS home in Prime Chandler Location! This Like New Home has the perfect Open Concept Living featuring a Brand New White kitchen, Quartz Counter tops, Cozy Brick Fireplace, Separated Dining & Living Area, Huge Laundry Room PLUS Extra Storage room, New Tile Flooring throughout with high quality carpeting in bedrooms, Beautifully Tiled Showers accompanied with New Vanities also equipped with Quartz Counters, Two Master Closets & Private Sliding doors to backyard, High Quality Upgraded Fixtures throughout, brand new water heater & the list goes on. The easy maintenance back yard comes with a storage shed for all your tools. And one of the few homes that has a Two Car Garage! Don't miss your opportunity to own one of the only Remodeled Homes on the market in this area!

Listed with North & Co


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


$449,900 :: 1222 E SARAGOSA Street, Chandler AZ, 85225

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4 beds, 2.5 baths
Home size: 2,944 sq ft
Lot Size: 9,583 sq ft
Added: 12/14/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5857712
Community: WILLIS RANCH
Tract: WILLIS RANCH
Status: Active


Must see this incredible Chandler home that has it all! 4 bdrm, 2.5 bath Pool/Spa, fireplace, single level, split plan, 3 car garage w/ gladiator garage racks! One of the most favored Jackson floor plans. The minute you open the door, feel the open spacious living room & dining looking out onto the pool/spa, fire pit, built island grill, adobe fireplace w/ seating bench & professional landscape. Super floor plan with light n bright kitchen, kitchen island, gas cook top & pantry. Updated wood floors throughout in 2012, partial flat roof 2012, water heater and pool heater all updated in 2018. NEST thermostat system, Surround Sound, R/O system. Willis Ranch is a desirable family-friendly community & just minutes to 202 frwy, walking distance to top rated CUSD elemen and Jr High. MUST SEE

Listed with My Home Group 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/!


$529,900 :: 4286 S STAR CANYON Drive, Gilbert AZ, 85297

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3 beds, 3.5 baths
Home size: 2,948 sq ft
Lot Size: 12,632 sq ft
Added: 10/26/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5839131
Community: POWER RANCH NEIGHBORHOOD 5
Tract: POWER RANCH NEIGHBORHOOD 5
The price of this listing was last reduced on 12/14/2018 by 0%
Status: Active


This stunning 3 bed, 3 and a half bath home is located in Power Ranch. Private walkway paved in stone leading up to the front door. The spacious floor plan opens into the living area making it perfect for entertaining. The kitchen is a chefs dream, beautiful wood wrap these cabinets with a high top breakfast bar. Meet at the center island to create your culinary delight. Large windows lining the walls filling the room with Arizona sunshine. Light a spark to your evening by the fireplace! Relax in your master bed and bath where you have a romantic soaking tub with tile surrounding it, dual sinks, walk-in shower, private toilet room, and a walk-in closet. The views in your backyard will take your breath away, large space to entertain with friends or relax on your patio.

Listed with My Home Group 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/!


$408,900 :: 5369 S SCOTT Place, Chandler AZ, 85249

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5 beds, 3.5 baths
Home size: 4,015 sq ft
Lot Size: 6,969 sq ft
Added: 11/01/18, Last Updated: 12/14/18
Property Type: Single Family
MLS Number: 5841372
Community: RIGGS RANCH MEADOWS
Tract: RIGGS RANCH MEADOWS
The price of this listing was last reduced on 12/14/2018 by 0%
Status: Active


This gorgeous 5 bed, 3 and a half bath is located in highly sought after Chandler. The open floor plan is ideal for entertaining. Light a spark to your evening by the fireplace or cozy up and read a book. The kitchen has a large center island where you can create a culinary delight. Relax in your spa-inspired master where you can enjoy a soaking tub, large shower, walk-in shower, dual sinks, and much more. Large loft upstairs that can be used for another living space. Step out back where you can enjoy Arizona nights under the covered patio or play a game of football in the lawn. Schedule your showing today.

Listed with My Home Group 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/!


 

 

 

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