2014 Real Estate Market Update

Be the first to comment on this post

How 2013 ended and where is the market going in  2014?Waterfront View II

The past 2 years have provided Phoenix area homeowners with double digit gains, and the market has been in the sellers’ favor.  But with higher prices and more sellers looking to take advantage, the balance between buyers and sellers is shifting.  Distressed sales (short sales and  foreclosures) which were a favorite of investors continue to see significant decreases. Are foreclosures coming back? Will more houses sell in 2014? How long will it take to sell a home in 2014? Are inventory levels still low?  Continue to read for answers to these questions.

Read the rest of this entry

Categories: Distressed Sales - REO and Short Sales, Market Reports & Trends

Phoenix real estate market trend – 2013 first half

1 Comment | Leave A Comment

FountainHalf way into 2013 – Where’s Phoenix Real Estate Going and Why?

2012 was a good year for real estate in Phoenix, and the question going into 2013 is “Can prices continue to go up like they did in  2012?” Price appreciation in 2012 in many cities resulted in appreciation over 20%, and sellers eagerly want prices to climb back to 2005 – 2006 levels after enduring 4 brutal years leading up to the market bottom in 2011.  Buyers are also asking what has happened to distressed properties in 2013?  Are foreclosures/short sales coming back? Is the end to the recent price increase right around the corner? Now that we’re more than half way into 2013, the answer to these questions is becoming evident.

Read the rest of this entry

Categories: Distressed Sales - REO and Short Sales, General Waterfront Info

How has Phoenix Real Estate started in 2013?

1 Comment | Leave A Comment

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?

Read the rest of this entry

Categories: Distressed Sales - REO and Short Sales, Short Sales

Phoenix Fannie Mae Short Sales and Foreclosures – Are they over priced?

2 Comments | Leave A Comment

View of Crystal Point from BalconyAre Fannie Mae Short Sales and Foreclosures A Bargain?

When you see a short sale or foreclosure, do you think a bargain is coming  your way?   My advice: slow down and see who owns the note on the property.  If the foreclosure is a Fannie Mae owned property, be patient.  If it is a short sale and Fannie Mae holds the lien, you should seriously question submitting an offer.  You could wait months and then be asked to pay market value or higher. Don’t expect logic or common sense to found anywhere in the transaction.

Read the rest of this entry

Categories: Distressed Sales - REO and Short Sales, Short Sales

Phoenix 2012 Real Estate Review

1 Comment | Leave A Comment

A Look  Back at 2012 for Phoenix Real Estate

The year in review of 2012 for homeowners was an encouraging one to be sure. 2011 was essentially a flat line, and there has not been any appreciation in home prices since 2005. Therefore, the 12 – 29% increase experienced in nearly all Phoenix metropolitan cities in 2012 was the perfect present indeed! If you’re interested in why prices finally made a U-turn and the chances of a repeat performance, feel free to read on.

Read the rest of this entry

Categories: Chandler, Distressed Sales - REO and Short Sales, Gilbert, Phoenix, Short Sales

Phoenix Real Estate Market Update for 2012

1 Comment | Leave A Comment

 Reflecting on 2012 and what’s ahead for 2013

There is no doubt, 2012 has rewarded home owners, to which they say it is about  time!  Some reports are indicating a 15% – 25% increase in home values over  the last 12 months. The graph to the left shows the average $/sq.ft. for homes sold in Gilbert,  which has  rebounded to pre-2009 levels.  Can we expect this favorable trend to continue in 2013, or is this another bubble that will burst in 2013? They tell me I’m an analytic which probably explains why  I’ve included charts and graphs to explain my reasoning, so read on.

Read the rest of this entry

Categories: Distressed Sales - REO and Short Sales, General Waterfront Info

Phoenix area distressed sales in 2012 compared to 2011

1 Comment | Leave A Comment

Distressed Sales – What a year has done.

Last year buyers enjoyed a real estate buffet that served a combination of foreclosures/REO’s, short sales, or normal/traditional sales at historically low prices.  The inital buyer consultation included an explanation of the in’s and out’s of each.  Frustrated sellers knew they were competing with distressed sale pricing as they tried to obtain the highest price for their traditional sale that had seen years of declining value.  It was common for most valley cities to have a majority of the sales to be distressed foreclosure or short sale transactions.   Distressed sales as a percentage of total sales were above 80% for a couple of Phoenix valley cities! It was the exeception for a city to have less than 50% of total as distressed sales.  The chart on the left shows the percentage of sales by each category for May 2011 for each valley city.  As you know things change in real estate, so read on to see what has happened since last year.

Read the rest of this entry

Categories: Chandler, Distressed Sales - REO and Short Sales, Gilbert, Short Sales

Upcoming Wave of Phoenix Foreclosures?

1 Comment | Leave A Comment

Headlines quick to report foreclosure activity rises in 21 states

News of this activity seemed to cast doubt on a housing recovery, and gives hope to buyers  who have been watching the market for great deals that have seemed to evaporate in the last 12 months. One article even said it was the 2012 tidal wave of foreclosures.  The trap that many fall into is not understanding the underlying cause as why this is happening in these specific states.   Some states have been impacted harder than others; Florida, California, Arizona, Georgia, and Nevada, to name a few.  However, the increase in foreclosure activity in this case can be better traced to the foreclosure process employed by a state.  The above graph shows the pending foreclosures for Maricopa county.  No tsunami or tidal wave on the horizon for Arizona.  Read on to find out why.

Read the rest of this entry

Categories: Chandler, Distressed Sales - REO and Short Sales, Gilbert

Where’s the Phoenix real estate market going in 2012?

5 Comments | Leave A Comment

Is the real estate market changing?

For 6 years the Phoenix market has been a declining market with some property values declining by more than 50 – 60% from their peak.  At last, many of the fundamentals strongly indicate that home prices bottomed out in 2011, and 2012 will reward homeowners with long awaited appreciation, a word that hasn’t been spoken since 2005. The graph to the right shows sales price/square foot for homes sold in Gilbert.  Instead of the typical year end slump, 2011 finished with a positive upward trend that has continued in 2012.  In fact, the average price per square foot for Gilbert homes for 2012 is higher than in 2011.  The following fundamentals show that 2012 will be a transition year with significant changes compared to previous years.

Read the rest of this entry

Categories: Chandler, Distressed Sales - REO and Short Sales, Gilbert

Phoenix Shadow Inventory Real Estate Numbers

1 Comment | Leave A Comment

Just because they print it does it make it true?

Congratulations Miami, the 2011 NBA champions! – NOT.  Here it is in print from a Florida newspaper.  I guess they never got the memo or checked the score board.  Just because it gets printed or makes its way onto the internet, does that make it true?  That’s the same way I feel about Phoenix area shadow inventory.  Some of the confusion lies in the definition of shadow inventory.  Obviously,  shadow inventory includes properties that have gone back to the lender but are not on the market.  Some also consider homes that have received a Notice of Trustee Sale with a scheduled auction date.  Some add to those numbers loans that are seriously delinquent which is 90+ days behind.  As you can see, the definition will affect the level of shadow inventory cited by the various experts. There’s also the issue that real estate is local and national commentaries cannot be relevant to individual markets?  Many have stated that shadow inventory is out of control and will contribute to a foreclosure Tsunami.  Now let’s get the facts for the Phoenix area.

Read the rest of this entry

Categories: Chandler, Distressed Sales - REO and Short Sales, Gilbert, Scottsdale, Short Sales


Copyright © 2017 Phoenix Arizona Waterfront Homes. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.