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

$625,000 :: 15508 E VIA DEL PALO --, Gilbert AZ, 85298

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5 beds, 2.5 baths
Home size: 2,893 sq ft
Lot Size: 53,578 sq ft
Added: 01/04/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5862981
Community: BROOKS FARMS ESTATES
Tract: BROOKS FARMS ESTATES
The price of this listing was last reduced on 2/5/2019 by 2%
Status: Conditional


STUNNING farmhouse in the city now offered for sale. Unlike anything you've seen in Gilbert- in a tucked away community you never knew was here. Attention to detail in all things- from the large dormers & welcoming bright red door, to the elegant doorway and window casings with plantation shutters-- this place truly feels like ''home''.The kitchen has all the upgrades you've been looking for- stainless steel appliances, granite countertops, and warm cabinetry. The interior has been freshly painted and new carpeting installed. There's a split floorplan with large master bedroom and ample secondary bedrooms for all your guests. The loft above the garage is perfect for a workout room, office, or play area. No expense was spared for the animals in your life- 4 covered, 12x12 stalls wit

Listed with Realty Executives 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/!


$305,000 :: 4346 E TOLEDO Street, Gilbert AZ, 85295

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3 beds, 2.5 baths
Home size: 1,926 sq ft
Lot Size: 3,049 sq ft
Added: 01/14/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5867621
Community: FINCHER FIELDS AT COOLEY STATION AMD
Tract: FINCHER FIELDS AT COOLEY STATION AMD
The price of this listing was last reduced on 2/15/2019 by 3%
Status: Active


Reduced to Sell - This lovely 2 story home is just 1-1/2 years old & still looks like Brand new! Sellers transferred out of the country & sad to leave their dream home. 3 Bedrooms + 2.5 baths... Beautiful island kitchen includes granite countertops, upgraded 42'' cabinets, pantry & SS Appliances. Spacious Family room has 15' extended sliding patio doors that open to the covered balcony. Split bedroom floorplan has the Master bedroom upstairs & the Jack & Jill Bedrooms downstairs. You'll love the 2 tone paint, staggered floor tiles & upgraded carpet. HOA maintains front yard landscaping. Backyard has covered patio & ready for your custom design. 2 Car Garage & Soft Water Loop. Refrig, washer & dryer included. NICE!

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/!


$429,900 :: 2662 E PALM BEACH Drive, Chandler AZ, 85249

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5 beds, 3 baths
Home size: 3,409 sq ft
Lot Size: 10,018 sq ft
Added: 07/29/18, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5799811
Community: SUN RIVER PARCEL B
Tract: SUN RIVER PARCEL B
The price of this listing was last reduced on 2/15/2019 by 1%
Status: Active


Open floorplan for your large family in desirable S. Chandler with N/S exposure. Spacious grass backyard with built-in grill and custom pool with waterfall feature. Downstairs - 1 bedroom, full bath w/open floorplan boasts an oversized family room adjoined by double doors to a media room pre-wired for in home theater or den/office, formal dining/living room, dramatic foyer entrance, elegant 18' tile, large kitchen with double ovens (1 convection), granite countertops, large kitchen island & maple cabinets. Upstairs,- 4 spacious bedrooms. Located in beautiful SUN RIVER - close to schools with a gorgeous park, greenbelts and walking trails. HOME WARRANTY, security system and $3K exterior paint allowance included.

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/!


$268,000 :: 1403 W KESLER Lane, Chandler AZ, 85224

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3 beds, 2 baths
Home size: 1,315 sq ft
Lot Size: 5,662 sq ft
Added: 02/07/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5880319
Community: BLAKEMAN RANCH UNIT 1
Tract: BLAKEMAN RANCH UNIT 1
Status: Active


BACK ON THE MARKET!! Lovely 3BD/2BA home in the heart of Chandler! Home boast ALL NEW flooring and fresh new paint throughout. ALL NEW stainless steel kitchen appliances, NEW kitchen counter tops, and NEW stainless double sink and faucet. Large backyard with covered patio, perfect for entertaining and making memories. Home's Exterior paint is only 3 years old. EXCELLENT location! Close to freeways, both the 101 and San Tan 202. Minutes to Chandler Regional hospital as well as Chandler Fashion Square mall with many dining and shopping options available. Home offers a platinum ONE year home warranty! Come see this lovely home for yourself, WELCOME HOME!!

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/!


$345,000 :: 842 W HORSESHOE Avenue, Gilbert AZ, 85233

4 beds, 3 baths
Home size: 2,104 sq ft
Lot Size: 6,534 sq ft
Added: 02/15/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5884280
Community: DAVE BROWN UNIT 5
Tract: DAVE BROWN UNIT 5
Status: Active


Don't miss this spacious 4 bed, 3 bath tri-level home with vaulted ceilings. The home features an updated kitchen with granite counter tops, white cabinets, pantry, eat-in kitchen nook & stainless steel appliances. The master, 2nd, and 3rd bedrooms are located on the top floor, the second bath has double sinks and an updated tiled shower/bath, the master suite has double doors, his and her sinks, separate shower/tub, new vinyl/laminate flooring, and a walk-in closet. The 4th bedroom is located on the 1st floor along with a full bath perfect for guests. The laundry room has been updated with tile backsplash, cabinets, and a utility sink. The 3 car garage is spacious and has plenty of storage along with cabinets.

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/!


$360,000 :: 1082 S MEADOWS Drive, Chandler AZ, 85286

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3 beds, 2 baths
Home size: 2,137 sq ft
Lot Size: 7,840 sq ft
Added: 01/13/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5867395
Community: MESSINA
Tract: MESSINA
Status: Active


Beautiful Fulton built family home w/ Formal LR and DR. Huge kitchen island w/ Corian counters, 42-inch maple cabinets, open to large family room with entertainment niches. 2019 new interior paint and 2019 flooring updated in LR and FR. Split floor plan and walk-in closets in all bedrooms. Office could be used as a 4th bedroom. Gorgeous Pebble Tec pool with a large covered patio and even a front porch! Newer AC for low maintenance and low utilities. Corner lot means privacy and quick access to all of the great Chandler schools. 3 car garage and single-story leaves plenty of storage! Easy to show and ready for your visit!

Listed with Russ Lyon Sotheby's International 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/!


$450,000 :: 1020 W IRIS Drive, Gilbert AZ, 85233

3 beds, 2 baths
Home size: 2,592 sq ft
Lot Size: 8,712 sq ft
Added: 02/15/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5884267
Community: WINDHAVEN UNIT 3
Tract: WINDHAVEN UNIT 3
Status: Active


WELCOME TO THE ISLANDS IN GILBERT * THIS AMAZING FLOOR PLAN HAS 3 BDRM & 2 BATH PLUS DOUBLE DOOR DEN * SEP LVG & FAM RM * FORMAL DINING * BREAKFAST RM WITH GREAT VIEW OF BKYARD * ISLAND KITCHEN WITH GRANITE COUNTERS * LOTS OF CABINET SPACE * NEW REFRIG STAYS * REAL WOOD BURNING FIREPLACE IN FAM RM * MSTR BDRM WITH EXIT DOOR OUT TO PATIO FROM MASTER BATH * HUGE WALK-IN CLOSET * DOUBLE SINKS & SEP TUB & SHOWER WITH PRIVATE TOILET RM * LAUNDRY RM WITH A WALL OF CABINET STORAGE * WASHER & DRYER STAY * VAULTED CEILINGS * CEILING FANS IN MOST ROOMS * INVITING BKYRD WITH PEBBLE TEC POOL * NICELY LANDSCAPED * GRASS AREA & FRUIT TREE * WALK WAY ALONG SIDE YARD TO FRNT GATE * 3 CAR GARAGE WITH STORAGE & EXIT DOOR TO SIDE YARD * NEWLY PAINTED WALLS & FLOORS IN GARAGE * N/S EXP * LAMINATE FLOORS IN

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/!


$279,900 :: 3841 E SANTA FE Lane, Gilbert AZ, 85297

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3 beds, 3.5 baths
Home size: 2,102 sq ft
Lot Size: 3,049 sq ft
Added: 02/05/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5878330
Community: POWER RANCH NEIGHBORHOOD 10 PARCEL D AND E
Tract: POWER RANCH NEIGHBORHOOD 10 PARCEL D AND E
The price of this listing was last reduced on 2/15/2019 by 3%
Status: Active


This may be the home for you! Three bedrooms, 3.5 baths and a HUGE loft. No neighbors to the south gives you more privacy in this low maintenance home. Completely tiled in all the downstairs living spaces. All kitchen appliances included. Upstairs laundry room for your convenience. The Power Ranch community is close to restaurants, shopping, and all Gilbert has to offer. See this property before it's no longer 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/!


$429,600 :: 1555 E STIRRUP Court, Gilbert AZ, 85296

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3 beds, 2.5 baths
Home size: 2,615 sq ft
Lot Size: 9,583 sq ft
Added: 01/11/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5866953
Community: SILVERSTONE RANCH
Tract: SILVERSTONE RANCH
The price of this listing was last reduced on 2/15/2019 by 0%
Status: Active


Beautiful home located in Silverstone Ranch, a one-of-a-kind Equestrian Community. Home features spacious formal dining & living areas, tiled gas fireplace, bay windows, neutral flooring & designer paint throughout. Well equipped kitchen, loads of cabinets, counters, breakfast bar, tile backsplash, pantry, matching appliances, built-in ovens & gas cooktop. Elegant master suite w/double door entrance, spacious bath w/his & her sinks, glamour tub, large shower & walk-in closet off mstr bath. Lush professionally landscaped backyard, with oversized covered patio & manicured grassy area, a perfect place to relax or entertain friends. (HOA w/horse privileges, corral, barn, arena, stalls & tack rm). Great properties like this one, never last. No disappointments here, very well maintain

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/!


$425,000 :: 2098 E Brigadier Drive, Gilbert AZ, 85298

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4 beds, 2.5 baths
Home size: 2,615 sq ft
Lot Size: 7,405 sq ft
Added: 02/15/19, Last Updated: 02/15/19
Property Type: Single Family
MLS Number: 5884161
Community: Adora Trails
Tract: Adora Trails
Status: Active


Combine the crisp elegance of a newer home with the remarkable community of Adora Trails and you'll find yourself right at home in this 4 bedroom, 2.5 bath. Gourmet kitchen complete with breakfast bar, upgraded cabinetry, stainless steel appliances, granite counter tops, oversized pantry, and premium lighting. This split floorplan offers a master retreat with warm contemporary engineered wood flooring, oversized closet, & pristine master bath. The sprawling pavered patio invites you to entertain or relax. Adora Trails offers 12 miles of walking trails, basketball courts, soccer and baseball fields, community pool, fishing lake, splash pad, community center, & award-winning schools. Whether you are looking for excitement or relaxation, this where you can be a part of a wonderful community.

Listed with Russ Lyon Sotheby's International 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/!


 

 

 

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