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

$749,000 :: 3454 E MORRISON RANCH Parkway, Gilbert AZ, 85296

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5 beds, 3 baths
Home size: 3,242 sq ft
Lot Size: 9,148 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274481
Community: LAKEVIEW TRAILS NORTH AT MORRISON RANCH
Tract: LAKEVIEW TRAILS NORTH AT MORRISON RANCH
Status: Active


This is the one! Highly desirable Kensington floor plan in Lakeview Trails at Morrison Ranch. 5 bedroom, 3 bath plus a spacious loft. Large lot with plenty of space including a formal dining, family room, living room and 3 car split garage. First floor bedroom/full bath makes great guest/in-law suite. Interior home professionally painted in 2020. New carpet installed in 2021. Step out to your backyard oasis with a large covered patio and new pool built in June 2018. This beautiful home is move in ready and won't last long!

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/!


$625,000 :: 2415 W SHANNON Street, Chandler AZ, 85224

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3 beds, 2 baths
Home size: 2,218 sq ft
Lot Size: 7,841 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274477
Community: RAY RANCH 2
Tract: RAY RANCH 2
Status: Active


Stunning 3 bedroom 2 bath home with a pool in the popular Ray Ranch community of Chandler! Large home has a great split floorplan with an open concept great room and a brand new kitchen! New wood look ceramic tile throughout the home with carpet in the bedrooms. Soaring vaulted ceilings and tons of windows make the space feel light and bright! Gorgeous modern kitchen newly remodeled features quartz countertops, custom white cabinets, granite sink and newer stainless steel appliances. The master retreat has a separate exit to the backyard, an attached bathroom with split dual sinks, separate shower and tub with tile bath surrounds, & a large walk in closet with built in cabinetry. Brand new custom laundry room comes with brand new stackable LG washer/dryer & mudroom w/ tons of storage!

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/!


$1,375,000 :: 13305 E STONEY VISTA Drive, Chandler AZ, 85249

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6 beds, 5.5 baths
Home size: 3,549 sq ft
Lot Size: 36,155 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274467
Community: Circle G Ranches
Tract: Circle G Ranches
Status: Active


The home is located on a County Island within the beautiful and well sought out Circle G neighborhood. There are 4 bedrooms and 4.5 baths in the main home and an additional bedroom and bath in a detached casita. Lots of upgrades such as travertine, knotty alder doors and cabinets, wine refrigerator, built in desk, 2- way stone gas fireplace, double ovens and huge pantry and tons of storage! Huge Master suite with jetted tub and snail shower. Surround sound inside and out, central vacuum and alarm system. Backyard hosts amazing pool with waterfall/slide and swim up bar with stools, sunken BBQ area and fire pit. Casita with large game/living area and full size bar which can easily be converted to kitchen if needed. Pool table 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/!


$495,000 :: 1705 W PELICAN Drive, Chandler AZ, 85286

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4 beds, 3 baths
Home size: 2,096 sq ft
Lot Size: 4,356 sq ft
Added: 06/17/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6252311
Community: STONEFIELD
Tract: STONEFIELD
Status: Active


This Open & Brite floorplan welcomes you into a spacious Great Room & a Beautiful island kitchen with dark Expresso Cabinets, Granite countertops, Gas Range & upgraded SS appliances and you'll love the look of its full wall of built in kitchen cabinets too. French doors open to the long extended driveway & a small EZ care backyard. Downstairs Guest bedroom + a full bathroom completes this ideal floorplan. A Lovely Wood staircase leads to the upstairs Master Bedroom Suite, 2 more secondary bedrooms & hall bathroom. Brand new Interior paint in the home & garage makes this home Move in Ready. Extras include 2'' wood blinds & ceiling fans throughout. Wood & tile floors & upgraded carpet plus a New hot water heater & upstairs laundry will make this an excellent buy for a very lucky buyer!!

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/!


$859,000 :: 16226 E FAIRVIEW Street, Gilbert AZ, 85295

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6 beds, 3 baths
Home size: 3,192 sq ft
Lot Size: 47,045 sq ft
Added: 07/06/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6260359
Community: M&B
Tract: M&B
The price of this listing was last reduced on 7/29/2021 by 3%
Status: Conditional


Here you Go, NO HOA & an Acre you can call your own. Basement Home with many options. Main level has 3 bdrm, 2 Bath, Dining, Family Rm, laundry & large Kitchen. Basement has it's own Entry/Exit, 3 Bdrm, 1 Bath, Hobby Rm, Family Rm, Kitchen (currently partial), pantry & Dining area. 2 Kitchen Refrigerators & Washer/Dryer convey. Upstairs Kitchen has granite counters, flooring tile & carpet (some new carpet, June/21) Carport 30'x30', Metal Barn 30'x40' entry opening 12'Hx10'W, small metal shed, Irrigated grassed yard, 5 citrus, crushed granite drives on property. Private gravel road from Fairview St. to a rear private 1 ac. lot. Kids playground set & trampoline convey as-is. Close to City amenities, parks, schools, freeway, shopping, east valley airports & malls. Freezer does not convey.

Listed with Sonoran 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/!


$625,000 :: 4227 E COUNTY DOWN Drive, Chandler AZ, 85249

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5 beds, 2.5 baths
Home size: 3,207 sq ft
Lot Size: 7,841 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274416
Community: SUN GROVES PARCEL 13 THRU 16
Tract: SUN GROVES PARCEL 13 THRU 16
Status: Active


This fabulous, energy-efficient residence offers excellent curb appeal, lush front yard, and a 4 car (tandem) garage. Tile floor, high ceilings, striking arches, and designer palette await you inside. Comfortable living room with wood-laminate floor. Formal dining area. Flexible den ideal for an office or an extra bedroom. Spacious family room. The gourmet kitchen features upgraded lighting, large wood cabinets w/crown molding, handsome counters, SS appliances, island w/breakfast bar, pantry, and breakfast nook. The loft is ideal for an entertainment center. The main suite boasts soft plush carpet and French doors to the ensuite with dual vanities & large walk-in closet. The expansive backyard includes a relaxing covered patio, artificial turf, sparkling play pool & spa.

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/!


$1,624,900 :: 2710 E CATTLE Drive, Gilbert AZ, 85297

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8 beds, 4.5 baths
Home size: 7,372 sq ft
Lot Size: 36,591 sq ft
Added: 06/18/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6241344
Community: BAR J RANCHES
Tract: BAR J RANCHES
The price of this listing was last increased on 8/4/2021 by 8%
Status: Active


Gorgeous custom BASEMENT home on .84 acre lot in prime Gilbert location w/ separate guest house! Main home is 6385 SF & has 7 beds, 3.5 baths, den, BASEMENT, mud room, laundry, tons of storage! Separate guest home is 987 SF w/ living area, kitchen, 1 bed, 1 bath & laundry rm. Home has wood laminate floors 2018, plantation shutters, new int paint (June 2021), new ext paint 2018, dual pane vinyl windows. Gourmet kitchen has six burner gas stove w/ griddle, pot filler, large kitchen isle/breakfast bar, walk in pantry, granite countertops, knotty alder cabinets w/ crown molding & stone backsplash! Huge irrigated landscaped lot provides both city & country living! No HOA! Sidewalk around perimeter of backyard, fenced animal pen, garden area, 14 fruit trees, basketball court area, RV parking &

Listed with RE/MAX Solutions


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


$774,900 :: 3151 S GREYTHORNE Way, Chandler AZ, 85248

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4 beds, 2.5 baths
Home size: 3,341 sq ft
Lot Size: 15,682 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6272805
Community: LEGEND AT OCOTILLO
Tract: LEGEND AT OCOTILLO
Status: Active


Heart of Ocotillo! Don't miss this fabulous 3341 SF desert oasis on a 15,712 SF lot! This 4 bedroom, 2.5 bath executive home offers luxury living with lots of room to roam both inside and out. Heart of the home features a spacious gourmet chef's kitchen. Massive centerpiece island, granite countertops and a 48'' GE Monogram stainless steel professional range which includes a gas grill, griddle, 4 gas burners and dual ovens. Downstairs master includes an expanded sitting room with large wood armoire and 2nd of 2 fireplaces. Master bath indulges luxury with a jetted tub, large walk in closet and inviting shower. Work remotely or study in the privacy of your home office with custom barn doors and wood trim feature wall that ties in nicely with the beautiful wood floors.

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/!


$725,000 :: 4360 E SUNDANCE Court, Gilbert AZ, 85297

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4 beds, 2 baths
Home size: 2,563 sq ft
Lot Size: 8,712 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274357
Community: POWER RANCH NEIGHBORHOOD 4
Tract: POWER RANCH NEIGHBORHOOD 4
Status: Active


Great location - home is located in the highly desirable Power Ranch Community in Gilbert AND on a quiet Cul-De-Sac street. This gorgeous, well-kept home has access to community trails with so many amenities including community pools, splash pads, hiking and biking trails, and the many parks. A single-level, fully remodeled home, features 4 bedrooms, 2 baths, movie/gym/media room, split floor plan, brand new solid wood shaker cabinets throughout, kitchen and bathrooms granite countertops, pantry, large kitchen island with breakfast bar, bathrooms redone with freestanding tub and walk-in glass shower, rooms look out to backyard, dining and living room with built-in buffet/wine bar. All appliances included! Master Suite has large walk-in closet, separate tub & shower. Move-in ready!

Listed with Mark Martin 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/!


$489,900 :: 945 S HUISH Drive, Gilbert AZ, 85296

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4 beds, 2.5 baths
Home size: 2,467 sq ft
Lot Size: 7,406 sq ft
Added: 08/04/21, Last Updated: 08/04/21
Property Type: Single Family
MLS Number: 6274289
Community: COOLEY STATION NORTH PARCEL 1
Tract: COOLEY STATION NORTH PARCEL 1
Status: Active


Gorgeous 4 bedroom + den + loft, 2.5 bath, 3 car garage on a corner lot in Gilbert. The moment you enter, you are greeted w/ streaming natural light & the feeling of HOME. Wood plank tile floors lead you to the formal dining, spacious living room, kitchen and downstairs bedroom complete with large walk-in closet and pass through to 1/2 bath. Sharpen your cooking skills in this wonderful kitchen equipped w/ granite counters, SS appliances & breakfast bar. Talk about space; upstairs there is a massive loft and den area perfect for entertaining! Retreat to your large owner's suite and soaking tub. Large secondary bedrooms w/ walk-in closets. Enjoy cool fall evenings in the darling backyard w/ greenhouse and synthetic grass. 3 car garage with ample overhead storage and built-

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/!


 

 

 

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