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

$365,000 :: 418 N FALCON Court, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,470 sq ft
Lot Size: 7,841 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013652
Community: HIGHLAND RANCH PHASE 2 AMD
Tract: HIGHLAND RANCH PHASE 2 AMD
Status: Active


*Short sale* Looking for a spacious family home in an ideal location of Gilbert? If so then welcome home! This 4 bedroom & 2 bath home with a Den, and just under 2,800 sqft., will give you everything you are looking for. True split floorplan home with an oversized den that can easily be used as a 5th bedroom. Striking wood floors, tile, and newer carpet span the entire residence. Master bedroom has a bay window with separate exit to the backyard. Kitchen features ample cabinets, kitchen island, and stainless steel appliances. Relax on your oversized covered patio overlooking your sparkling and refreshing pool with no neighbors directly behind you. Come view your next home today!

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/!


$239,900 :: 1716 W SHAWNEE Drive, Chandler AZ, 85224

2 beds, 2 baths
Home size: 1,187 sq ft
Lot Size: 7,406 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013656
Community: CAMEO EAST 1
Tract: CAMEO EAST 1
Status: Active


Great move-in ready 2 bed, 2 bath in Chandler with an incredible backyard! This home features tile flooring, newer carpet, ceiling fans and inside laundry. The kitchen includes ample storage, a window box, built-in microwave, dishwasher, RO system and a garbage disposal. The huge tiled patio leads to a well-maintained backyard with a large grass area, mature landscaping, block walls, a double gate, storage shed plus a bonus room off of the patio. This home has a 2-car carport and Pomeroy Elementary and Shawnee park are a short walk down the street. This is a great location for shopping, dining and easy access to freeways.

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/!


$445,000 :: 2758 E RAWHIDE Street, Gilbert AZ, 85296

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4 beds, 2 baths
Home size: 2,296 sq ft
Lot Size: 15,246 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013598
Community: GREENFIELD LAKES PARCEL 1
Tract: GREENFIELD LAKES PARCEL 1
Status: Active


Gilbert's Best is now available!!! Come fast if you would like the opportunity to own in one of the areas most sought after communities in town! This 4 bed 2 bath semi custom home that sits on a corner lot with a backyard that you could get lost in.. the front yard holds a beautiful sitting area. With large bedrooms and amazing upgrades in each bathroom and a kitchen That was designed to satisfy.. With tons of room for possible home expansion further confirms how exciting this home is to be available..

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/!


$510,000 :: 2471 W MARLIN Drive, Chandler AZ, 85286

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4 beds, 3 baths
Home size: 3,199 sq ft
Lot Size: 15,246 sq ft
Added: 09/26/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 5983398
Community: BRITTANY HEIGHTS
Tract: BRITTANY HEIGHTS
The price of this listing was last reduced on 12/11/2019 by 0%
Status: Active


LOCATION - LOCATION - LOCATION!!! You will not want to miss this beautiful home in CHANDLER. You will fall in love with the open split floor-plan and backyard oasis. This home boasts 4 bedrooms, 3 full baths, massive kitchen, oversized tile, built-in BBQ with a swim up bar and one of the biggest lot's in the neighborhood. The interior has fresh paint and new carpet. This gorgeous home is near local hang-outs, shopping or dining. Hop on the freeway or use Price Road to easily get to where you are headed for the day. This is a must see!

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/!


$410,000 :: 2644 E BLUE SPRUCE Lane, Gilbert AZ, 85298

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4 beds, 2 baths
Home size: 2,109 sq ft
Lot Size: 6,970 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013562
Community: FREEMAN FARMS PHASE 2 PARCEL 2
Tract: FREEMAN FARMS PHASE 2 PARCEL 2
Status: Active


Welcome home to Blue Spruce! Your north/south facing home gives you the perfect amount of sunlight - not too much! Pull into your garage with space for three vehicles or enter through your front door faced with stone. Your entryway is refreshingly bright with designer neutral paint, white trim and beautiful wood plank style tile flooring. Move into your open concept living, dining, and kitchen space. The trimmed espresso cabinets opposite your breakfast bar warm up the color scheme and offer plenty of storage above and below. Your stainless steel appliances all match and your countertops are gleaming quartz. Your dining area is surrounded by windows with easy to clean white shutters, brightening up your breakfast time.

Listed with Keller Williams Realty Phoenix


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 :: 1362 E Butler Circle, Chandler AZ, 85225

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4 beds, 3 baths
Home size: 2,180 sq ft
Lot Size: 4,792 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013603
Community: SPRINGS UNIT 2 AMD LOT 30-213 217-276 278-454
Tract: SPRINGS UNIT 2 AMD LOT 30-213 217-276 278-454
Status: Active


Beautiful waterfront home, updated stainless steel appliances and granite counter tops. Relax & enjoy the sound of the waterfall near by, home is at the ned of the street in a quite cul-de-sac! Formal dining and living areas with vaulted ceilings. Fantastic eat-in kitchen with a beautiful water view, breakfast bar and built-in desk area. Arcadia Doors to patio from family room. Grand master retreat with walk-in closet and private ensuite. One bedroom with full bath down stairs. Pomegranate & Citrus trees in the backyard with brand new faux grass. Newer garage door installed in 2016. Great Chandler location! Fish stocked in the lake frequently, kayaking & boating in the larger lakes, tennis court and community pool. Enjoy boating, fishing and much more...

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/!


$375,000 :: 1121 N JOSHUA TREE Lane, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,622 sq ft
Lot Size: 6,970 sq ft
Added: 12/06/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6010951
Community: CAROL RAE RANCH
Tract: CAROL RAE RANCH
The price of this listing was last reduced on 12/11/2019 by 4%
Status: Active


PRICED TO SELL!! Home does need some updating. Great floor plan! 3-bedrooms upstairs plus a loft. 3-bathrooms. Hardwood floors in loft and hallway. Downstairs has a den that could be converted to 4th bedroom. Main floor has beautiful rough edge tile throughout. Master suite has separate tub/shower. Walk out deck off master bedroom. Beautiful landscaped backyard with private pool, waterfall, and slide for the kids! 3-car garage. Mature trees in front and back yard. A MUST SEE TO APPRECIATE!

Listed with Manara 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/!


$339,000 :: 6682 W SHANNON Street, Chandler AZ, 85226

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3 beds, 2.5 baths
Home size: 1,746 sq ft
Lot Size: 5,663 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013511
Community: CHANDLER CROSSING UNIT 1
Tract: CHANDLER CROSSING UNIT 1
Status: Active


Location, location, location!! This lovely 3 bedroom, 2.5 bath home with a pool is located in the highly sought after Chandler Crossing subdivision. Close to all major highways, and all of the best shopping and dining! Main floor has beautiful dark manufactured wood floors throughout and tile in the kitchen. Formal living and dining room, family room is open to the kitchen. Half bath on the main floor. Spacious master bedroom boasts vaulted ceiling, his and hers walk in closets, and separate garden tub and walk in shower. 2 generous sized secondary bedrooms. Second floor laundry!! Tons of storage in the garage. Welcoming backyard is home to the generous sized play pool, large grass area, an orange tree and rose bushes. Brand new pool pump, motor, and filter as of November 2019.

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/!


$522,384 :: 1843 S Wallrade Lane, Gilbert AZ, 85295

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4 beds, 3.5 baths
Home size: 2,991 sq ft
Lot Size: 5,663 sq ft
Added: 12/11/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 6013512
Community: RAY AND RECKER PHASE 1
Tract: RAY AND RECKER PHASE 1
Status: Active


Have you ever walked into a model home and said to yourself ''WOW - I could totally live here''! Now you can! This FORMER MODEL home at Ambition at Recker Pointe is available for sale! DESIGNER touches throughout interior + exterior landscaping! With 4 bedrooms/3.5 baths PLUS an office with barn doors, a designated game room with direct access to backyard AND an upstairs loft, the living possibilities are endless! The 2 car garage has an extended area for a shop/hobby/extra storage! Kitchen is STUNNING with dark cabinets, quartz countertops and breakfast bar! SO MANY UPGRADES and beautiful details added to this home that you must see for yourself. Run don't walk! All of this in a lovely community located in a great area of town w/shopping/restaurants/San Tan Village! WELCOME HOME!

Listed with Homelife Professionals


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


$375,850 :: 1852 W THOMPSON Way, Chandler AZ, 85286

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4 beds, 3 baths
Home size: 2,247 sq ft
Lot Size: 5,663 sq ft
Added: 08/22/19, Last Updated: 12/11/19
Property Type: Single Family
MLS Number: 5968244
Community: SAN MARTIN AT THE VINEYARDS
Tract: SAN MARTIN AT THE VINEYARDS
The price of this listing was last reduced on 10/9/2019 by 1%
Status: Active


Prepare to be amazed! Come and see this lavish 4 bed, 3 bath property now for sale in Chandler! Pride of ownership and meticulously maintained. Featuring updated wood plank tile floors throughout downstairs, neutral custom paint, this home's nothing short of a dream come true! You'll love the fabulous kitchen, with its ample cabinetry, pantry, granite countertops, tile backsplash, and matching appliances. Full Bedroom and remodeled bathroom downstairs. The master bedroom boasts a fully remodeled spa like bath with double sinks as well as separate tub and shower. The expansive backyard, with its cozy covered patio, is perfect for spending a relaxing summer afternoon! The good ones never last, don't waste any time and schedule a showing today!

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/!


 

 

 

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