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

$469,900 :: 4630 W Mercury Way, Chandler AZ, 85226

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4 beds, 2.5 baths
Home size: 2,004 sq ft
Lot Size: 8,277 sq ft
Added: 04/16/21, Last Updated: 04/18/21
Property Type: Single Family
MLS Number: 6222472
Community: GLENVIEW ESTATES AMD
Tract: GLENVIEW ESTATES AMD
The price of this listing was last reduced on 4/18/2021 by 1%
Status: Active


NO HOA! Huge CORNER LOT in the highly desirable neighborhood of Glenview Estates in Chandler! This tri-level, 4 bedroom/2.5 bathroom home has everything you need! Kitchen has been fully updated with gorgeous cabinetry, stainless steel appliances & granite countertops. Tile in all the right places! Buyer will receive a $5,000 flooring credit at closing! New exterior paint (March 2021), partial interior paint & updated bathrooms. Step outside to your huge new backyard with a sparkling pool that has just been serviced, freshly refilled & chemical balanced after it was acid washed (Apr 2021). Just minutes to the Chandler Mall, tons of shopping, restaurants & entertainment. Very easy access to both 101 and 202 freeways. Come see your new home!

Listed with International Real Estate Professionals, 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/!


$1,694,500 :: 2744 E PORTOLA VALLEY Drive, Gilbert AZ, 85297

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5 beds, 4.5 baths
Home size: 3,840 sq ft
Lot Size: 13,504 sq ft
Added: 03/29/21, Last Updated: 04/18/21
Property Type: Single Family
MLS Number: 6213728
Community: Belmont At Somerset
Tract: Belmont At Somerset
Status: Active


Model Home loaded up with top notch finishes and designer upgrades. This 5 bedroom/ 4.5 bathroom all single level home is incredible. A huge great room open concept plus outdoor kitchen and entertainment space. Chef's kitchen with quartz, 48'' Subzero refrigerator and a huge pantry! Gilbert is known for its top notch A+ schools, incredible shopping, vivacious restaurants right in the middle of the beauty and charm that Gilbert has to offer. Residence 17 Urban Farmhouse Model Home for Sale with a 4 month lease back with 30 day options. No Furniture or decoration items convey and will be removed prior to occupancy. Call for lease back details.

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/!


$819,999 :: 2776 E MAJESTIC EAGLE --, Gilbert AZ, 85297

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3 beds, 3 baths
Home size: 2,336 sq ft
Lot Size: 35,720 sq ft
Added: 04/18/21, Last Updated: 04/18/21
Property Type: Single Family
MLS Number: 6223555
Community: BROADLAND RANCHES GREENFIELD AMENDED
Tract: BROADLAND RANCHES GREENFIELD AMENDED
Status: Active


Beautiful custom home @ the end of a quiet cul-de-sac on huge lot with lots of space to grow and play! This greatroom floorplan includes 3 bedrooms, 3 bathrooms, upgraded eat-in kitchen (corian counters, stainless steel appliances, convection ovens, pantry), formal dining room, den, office, laundry room & central vac. Back yard includes large covered patio with fans, and plenty of room for family & friends, play pool, built-in BBQ, fire pit. Just under an acre with irrigated back, pasture & horse stall. Easy access off the 202 and close to San Tan Mall.

Listed with S.J. Fowler Real Estate, 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/!


$775,000 :: 3724 E LAFAYETTE Avenue, Gilbert AZ, 85298

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5 beds, 3.5 baths
Home size: 4,830 sq ft
Lot Size: 10,890 sq ft
Added: 04/15/21, Last Updated: 04/18/21
Property Type: Single Family
MLS Number: 6208905
Community: SEVILLE
Tract: SEVILLE
Status: Active


This truly amazing home will check mark off all your boxes; exceed your expectations, & more!! 5 Large Bedrooms...Check; 3 car garage...Check; 3 1/2 bathrooms...Check; Oversized pool with water feature... Check. Do we have your attention yet? But wait there's more...Large great room, media room, and a large private back yard. The perfect home to host family & friend gatherings and outdoor parties all year long. This very inviting open floor plan is exactly what you have been looking for but not been able to find. Located In the Seville Golf & Country Club Community, the home is just minutes to the club house featuring golf, restaurant, gym, and more. Your search for your ''Amazing Home'' is over. Welcome home!

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/!


$395,000 :: 2835 E HARWELL Road, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,353 sq ft
Lot Size: 6,534 sq ft
Added: 04/18/21, Last Updated: 04/18/21
Property Type: Single Family
MLS Number: 6221788
Community: BASELINE/TONE REPLAT
Tract: BASELINE/TONE REPLAT
Status: Active


Get your offer in now on this beautiful Ryland built, 3 bedroom, 2 bath single level Gilbert home with a private pool on a great corner lot with North / South exposure! Situated on a premium lot in a perfect location near Schools, Freeways, Shopping & Parks! ! This home has an open design with vaulted ceilings, new grey wood laminate flooring, remodeled kitchen with new granite countertops, white cabinets, updated appliances, including microwave, under cabinet lighting & spacious dining area! You will love the backyard with the sparkling pool, covered patio, and dog run all on a quiet lot with easy desert landscaping! The master bed is also vaulted and has a separate tub & shower with a walk in closet. Unrepresented Buyers that work directly with the listing agent will receive 1% toward

Listed with ProSmart 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/!


$499,900 :: 4894 S WADE Drive, Gilbert AZ, 85298

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3 beds, 3 baths
Home size: 2,206 sq ft
Lot Size: 6,099 sq ft
Added: 03/26/21, Last Updated: 04/17/21
Property Type: Single Family
MLS Number: 6212667
Community: BRIDGES AT GILBERT PHASE 1 PARCEL 3
Tract: BRIDGES AT GILBERT PHASE 1 PARCEL 3
The price of this listing was last reduced on 4/17/2021 by 6%
Status: Active


Amazing NEX GEN home in pristine condition located in the highly sought after Bridges in Gilbert. Main house has 2 bedrooms 2 baths w/ split floorplan. Attached casita has 1 bedroom, 1bath, great room, fridge & dishwasher, & separate entrance to outside. Both include granite countertops, SS appliances, wood tile flooring and the guest house includes it's own stackable washer/dryer. Backyard is great for relaxing or it is ready and wired to add a hot tub. The highly desirable community of The Bridges offers culture, connection, and beautiful amenities. Gorgeous waterfall entrances, green spaces, miles of walking trails and paths, play areas, splash pads, and more - all in your own backyard. Easy access to Freeways, close to schools, shopping, restaurants and many more features you will lov

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/!


$620,000 :: 117 E Elgin Street, Gilbert AZ, 85295

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4 beds, 3 baths
Home size: 2,601 sq ft
Lot Size: 10,019 sq ft
Added: 04/09/21, Last Updated: 04/17/21
Property Type: Single Family
MLS Number: 6219433
Community: Allen Ranch Parcels 1 2 3 & 4
Tract: Allen Ranch Parcels 1 2 3 & 4
Status: Active


Look no further location location. Single story semi-custom home in the sought after Allen ranch community. This is constructed by VIP Builder as an engineered for Life 4x6 construction home. Featuring custom cabinetry throughout granite countertops in the kitchen stainless appliances updated microwave full size updated refrigerator double oven and disposal. Updated bathrooms two with full baths. Master on site walk-in shower with rain shower head and body Jets. Storage galore in the master bathroom with the double French entry doors. Including master bathroom tiled throughout the house with exception of closets and three bedrooms laminate flooring. Custom security doors front double entry with Oak double entry behind wonderful cool air condition ventilation

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/!


$969,900 :: 3533 E GUADALUPE Road, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 3,000 sq ft
Lot Size: 71,874 sq ft
Added: 04/09/21, Last Updated: 04/17/21
Property Type: Single Family
MLS Number: 6209500
Community: RANCHITOS VERDE
Tract: RANCHITOS VERDE
The price of this listing was last reduced on 4/17/2021 by 1%
Status: Active


Ropers dream! Four 16x32 fully covered stalls that open to irrigated turnout. Roping arena with catch pen with shade for cattle. 20x30 barn/garage for storage. 40ft conex plus a 20 ft conex. Covered hay storage that is large enough for 4 squeezes of hay. Garage converted to Studio suite (permitted) w/ murphy bed & wardrobe, bathroom & kitchenette. Main home has 4 bd 2ba PLUS office. Master suite w/ walk in closet, dual vanity separate soaker tub & shower. Living room separate from family room w/ wood burning fireplace. In 2012 new: roof, a/c's, flooring, windows, doors, tubs, showers, kitchen & more. Lots of storage inside and out. Incredible treehouse for the kids! Bring your horses, RV, Boat, and all your toys! In town with easy access to the 202, and 60 freeways. OWNER/AGENT

Listed with The Larsen Company Real Estate and Auctions


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


$585,000 :: 6965 S OPAL Drive, Chandler AZ, 85249

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4 beds, 2.5 baths
Home size: 2,897 sq ft
Lot Size: 14,375 sq ft
Added: 04/17/21, Last Updated: 04/17/21
Property Type: Single Family
MLS Number: 6223431
Community: SUN GROVES PARCEL 13 THRU 16
Tract: SUN GROVES PARCEL 13 THRU 16
Status: Active


WOW! This GREAT HOUSE has a HUGE BACKYARD with POOL and MOUNTAIN VIEW! 4 bdrm PLUS Loft upstairs and Office/Den downstairs! CHANDLER location that is close to everything! Master Bedroom has double sinks and separate tub/Shower with a BIG MB Closet- look at the photos! 3 car garage! POOL! Spacious kitchen with ample cabinets and counter space, pantry, breakfast bar, and an island. OVERSIZE LOT, approx. 1/3 acre! MOUNTAIN VIEW! PebbleTec Salt Water POOL! Fruit Trees in backyard! New A/C (installed July 2020). Solar panels. This home has it all and is waiting for YOU!

Listed with Mountain Lake 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/!


$947,500 :: 2974 E ATHENA Avenue, Gilbert AZ, 85297

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4 beds, 4.5 baths
Home size: 4,042 sq ft
Lot Size: 15,682 sq ft
Added: 03/12/21, Last Updated: 04/17/21
Property Type: Single Family
MLS Number: 6206817
Community: STRATLAND SHADOWS
Tract: STRATLAND SHADOWS
The price of this listing was last reduced on 4/17/2021 by 0%
Status: Active


Fantastic opportunity in highly sought after Stratland Shadows.Open,spacious floorplan with formal living/dining,butler's pantry,eat-in kitchen with an island breakfast bar,stainless appliances,double ovens,gas cook top,built in microwave,walk-in pantry,soft close cabinetry and granite counters.Teen/family room adjacent to 3 bedrooms each with an ensuite bath and walk-in closet.Split owner's suite with soaking tub and massive shower,walk-in closet.Separate office.Plantation shutters,custom tile and stone work, commercial grade porcelain tile,LED fixtures throughout.NEST thermostats.Oversize lot,heated play pool and gazebo,lush landscaping,mountain views from courtyard and from back patio.Custom metal entry gate. Epoxy garage floors. Upgrades everywhere! Must see to appreciate

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/!


 

 

 

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