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

$569,900 :: 745 E COUNTY DOWN Drive, Chandler AZ, 85249

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4 beds, 3.5 baths
Home size: 3,599 sq ft
Lot Size: 16,117 sq ft
Added: 05/27/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5772069
Community: FIELDSTONE ESTATES
Tract: FIELDSTONE ESTATES
Status: Active


Nestled within sought after Fieldstone Estates on a manicured 1/3+ acre, private, N/S facing lot adjacent from one of several vast community greenbelts, this 4 BR, 3.5 BTH w/3 CG stunner boasts a spacious, open floor plan w/kitchen opening into great room, separate study w/built-ins, formal living & formal dining space offering loads of natural light, architectural details, upgraded accessories, tile in all the right places, plantation shutters, surround sound, double-sided fireplace. Gourmet kitchen features spacious granite counters & backsplashes accented by gorgeous cherry cabinets, walk-in pantry, matching stainless GE Profile appliances; incl. gas cook top & wall mounted double ovens, huge island w/breakfast bar. The generous master suite comes with...

Listed with Century 21 Arizona Foothills


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


$368,990 :: 4566 S MCCLELLAND Drive, Chandler AZ, 85248

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3 beds, 2.5 baths
Home size: 2,441 sq ft
Lot Size: 2,613 sq ft
Added: 11/28/17, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5692635
Community: PARKVIEW PLACE
Tract: PARKVIEW PLACE
The price of this listing was last reduced on 5/27/2018 by 0%
Status: Active


New Construction! Move in ready! Our best selling floor plan featuring 3 Bedrooms, 2.5 Baths PLUS Loft and 2 Car Garage on corner lot near the park! Stainless steel appliances, upgraded Silestone kitchen countertops, ''Glacier'' painted cabinets, 8ft interior doors, ceiling fan pre-wires at all bedrooms, designer faux wood look tile, upgraded carpet/pad in bedrooms, white subway tile surrounds in master bath, upgraded light & plumbing fixtures, & so much more! At Parkview Place, contemporary, low maintenance living meets exceptional design & innovation. This exclusive, private gated community is nestled in between the highly desirable Ocotillo and Fulton Ranch area of Chandler, adjacent to Snedigar Park & offers rear-entry garages, private side-yards & a community pool.

Listed with Arizona Best 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/!


$278,000 :: 1641 N Cholla Street, Chandler AZ, 85224

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3 beds, 2 baths
Home size: 1,541 sq ft
Lot Size: 7,405 sq ft
Added: 05/27/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5772047
Community: KNOELL EAST UNIT 7
Tract: KNOELL EAST UNIT 7
Status: Active


Beautiful 3 bedroom/2 bath ranch home in desirable Knoell East! Located on a quiet interior lot, this well-maintained and completely updated home boasts updated tile flooring through the living areas with cozy wood flooring in bedrooms, remodeled bathrooms with gorgeous granite and finishing touches, and a completely updated Kitchen including new cabinets(with extra in the dining area!), counters,& tile backsplash! Cozy brick wood burning fireplace in the family room! Vaulted ceilings make this home bright and open, providing for many custom built ins! Expanded indoor laundry room has plenty of extra storage with added cabinets! Oversized low maintenance backyard with an extended covered patio, 2 storage sheds, and paved RV space!Expanded front parking AND 2 car garage w/ cabinets!

Listed with Berkshire Hathaway HomeServices Arizona Properties


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


$374,900 :: 2856 E CHERRYWOOD Place, Chandler AZ, 85249

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3 beds, 2 baths
Home size: 2,512 sq ft
Lot Size: 13,503 sq ft
Added: 05/15/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5766626
Community: RIGGS RANCH MEADOWS
Tract: RIGGS RANCH MEADOWS
The price of this listing was last reduced on 5/27/2018 by 4%
Status: Active


Beautiful Semi-Custom 2x6 home on 1/3 acre. Check out the comps on this street, neighborhood homes sold $500k+ Courtyard entryway w/detached 3rd Car Gar/poss.Casita. 10'ceilings, Large kitchen with custom cabinets and built in pullout shelves/lower cabinets, upgraded appliances, Granite countertops. Large pantry. Large master bedroom, bath and closet. Glass Block windows in master bath, ceiling fans with lights throughout. New nuetral interior paint and new carpeting. On Cul de sac street excellent for families with playing children. Backyard features a firepit, brick patio, and outdoor kitchen for guest entertaining. New exterior paint 12/2013. Low-E windows 2013. Well maintained,quality and pride shows. Seller Financing is Available. Owner is Arizona licensed real estate agent

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/!


$355,000 :: 4554 E RUNAWAY BAY Drive, Chandler AZ, 85249

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4 beds, 2 baths
Home size: 2,309 sq ft
Lot Size: 9,583 sq ft
Added: 05/15/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5766256
Community: SUN GROVES PARCEL 6 & 7
Tract: SUN GROVES PARCEL 6 & 7
The price of this listing was last reduced on 5/27/2018 by 1%
Status: Active


Brand new kitchen appliances and kitchen sink/faucet, fresh interior and exterior paint, new carpet in three bedrooms and den, laminate flooring in large Master bedroom with ensuite bath, new landscaping rock, resurfaced/renovated swimming pool with new pool pump. Additional Information: Water Softener and Reverse Osmosis Drinking system installed. Sun/Privacy Shades on windows, has a storage shed in back yard and RV Gate. Sun Groves Housing Community has many green areas and parks. Located one block from Navarette Elementary and Basha HS is across the street.

Listed with Congress Realty, Inc.


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


$282,500 :: 4010 E SUNDANCE Court, Gilbert AZ, 85297

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3 beds, 2 baths
Home size: 1,605 sq ft
Lot Size: 8,712 sq ft
Added: 04/21/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5755224
Community: POWER RANCH NEIGHBORHOOD 4
Tract: POWER RANCH NEIGHBORHOOD 4
The price of this listing was last reduced on 5/27/2018 by 0%
Status: Active


Imagine coming home to this charming 3 bed, 2 bath property centered in the heart of Gilbert. This single story home features a grassy front landscaping, 2 cargarage, living/dining area, designer paint tones throughout. Well maintained kitchen is complete with matching stainless steel appliances, recessed lighting, andample cabinet/counter space. Beautiful Oak cabinets redone. Genuine master suite includes a lavish full bath with separate tub and step-in shower. Large backyard is comprised of a beautifulgrassy landscaping, covered patio, and paved sitting area great for relaxing afternoons. Living room and dining room just painted a neutral color. Fresh exterior paint, private backyard, and a attic. Dont wait any longer to come and enjoy your new family house.Schedule NOW!

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/!


$550,000 :: 4084 E RAVENSWOOD Drive, Gilbert AZ, 85298

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4 beds, 2.5 baths
Home size: 2,925 sq ft
Lot Size: 19,602 sq ft
Added: 05/27/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5772042
Community: Seville
Tract: Seville
Status: Active


Elegant single level home on rare .5 acre lot in prestigious Seville Country Club with Private pool. 3Bedrm plus Den Office (4th Bdrm) plus materbedrm retreat Room. Spacious floor plan, including 2 large secondary bedrooms and convenient tech room/den. Granite counter tops in kitchen with maple cabinets, and gas range all open to large family room with gas fireplace. Beautiful lap pool with waterfall and fiber=optic lighting. Extended 3 car garage!!

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/!


$377,950 :: 4641 E KARSTEN Drive, Chandler AZ, 85249

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5 beds, 2.5 baths
Home size: 3,088 sq ft
Lot Size: 8,712 sq ft
Added: 05/24/18, Last Updated: 05/27/18
Property Type: Single Family
MLS Number: 5770965
Community: SUN GROVES PARCEL 6 & 7
Tract: SUN GROVES PARCEL 6 & 7
Status: Conditional


This beauty is an entertainer's dream! Nestled in the highly desirable neighborhood of Sun Groves, this home features a gorgeous kitchen with loads of cabinets, granite countertops, walk-in pantry, and a large island. There is one bedroom downstairs and upstairs you will find a huge master suite, three oversized bedrooms (all with walk-in closets), AND a loft. Enjoy the resort-style backyard which boasts a covered patio, heated pool, spa, putting green, fire pit, and built-in BBQ. A must see!

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/!


$340,000 :: 728 N BRIDLEGATE Drive, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 2,136 sq ft
Lot Size: 7,405 sq ft
Added: 04/18/18, Last Updated: 05/26/18
Property Type: Single Family
MLS Number: 5753734
Community: EL DORADO AT THE HIGHLANDS
Tract: EL DORADO AT THE HIGHLANDS
Status: Conditional


Enjoy the southwestern lifestyle in this Gilbert home! The backyard with heated pebble tech pool and spa is made for outdoor living! Pick fresh, delicious peaches, figs, and oranges in your own yard. Gather round the fire pit on a cold night.This 3 bedroom + den, 2 bathroom, 3 car garage house with 2136 square feet has vaulted ceilings and an open floor plan. Open kitchen with 42 inch cabinets, stainless steel appliances, corian countertops, and island. Double oven gas range with lower convection oven. The spacious master bedroom is split from the other two bedrooms. Living room includes electric fireplace and surround sound speakers. Security doors on front and back doors. The tankless water heater will help lower your utility bills.

Listed with Visionary Properties


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


$649,000 :: 464 W AZALEA Drive, Chandler AZ, 85248

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5 beds, 4.5 baths
Home size: 4,126 sq ft
Lot Size: 10,018 sq ft
Added: 05/26/18, Last Updated: 05/26/18
Property Type: Single Family
MLS Number: 5771977
Community: AVALON AT DOBSON CROSSING
Tract: AVALON AT DOBSON CROSSING
Status: Active


This is It! $250,000+ in PREMIUM UPGRADES & finishes! Move-In Ready! Open Greatroom floorplan + Guest Suite + office/den + Huge Basement w/wet bar, fridge! Gourmet Kitchen w/stainless steel 48' Monogram Fridge, 5 Burner Gas Stove, Granite countertops, Staggered custom cabinetry w/Crown Molding, Huge Island & Pantry! Very Customized Master Closet, Epoxied garage w/expensive Stainless Steel cabinets, RV gate too! Amazing Yard w/ Sparkling XXL Diving Pool, Spa, Fully finished Gazebo w/ Power, lights & Cable TV! Almost 1/4 acre private corner N/S facing lot & Park right next door! Very short walk to Basha Elementary or Hamilton High (No need to buy your teen a car!) Way too many features to list here, but it sure will impress the most discriminating buyer! Call Now to see It in person!

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/!