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

$275,000 :: 206 N PALM Street, Gilbert AZ, 85234

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2 beds, 1 bath
Home size: 776 sq ft
Lot Size: 4,792 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199869
Community: GILBERT
Tract: GILBERT
Status: Active


Gilbert's Heritage district! Great investment opportunity! Property has tremendous potential. Finish the renovations with your own touches! Walking distance to downtown Gilbert. Nice size lot. Home is sold AS IS. No repairs will be made. Owner was in the process of doing renovations!

Listed with American Allstar 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/!


$375,000 :: 3761 E GLENEAGLE Place, Chandler AZ, 85249

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2 beds, 2 baths
Home size: 1,680 sq ft
Lot Size: 7,406 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199875
Community: SPRINGFIELD LAKES BLOCK 6
Tract: SPRINGFIELD LAKES BLOCK 6
Status: Active


Here it is! Best selling Daybreak model beloved for its split 2-BR open plan, den/office w/bay window & 9' ceilings throughout. From a cul-de-sac street, enter the gorgeous, travertine front courtyard to a house w/NO CARPET - wood look tile flooring throughout. Remodeled kitchen w/single-level granite countertops, tiled backsplash, island, pantry, recessed lighting & plantation shutters in the LARGE breakfast nook w/bay windows. Double French doors lead to the spacious, south-facing, block fence enclosed backyard w/mountain views, expansive covered patio & NO HOUSE BEHIND YOU! The a/c is newer & garage is updated w/cabinets, overhead storage & side service door. Popular, gated Solera awaits you w/full rec facilities, clubs, events & so much more. This active adult lifestyle is for YOU!

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/!


$599,900 :: 1329 E PALO VERDE Street, Gilbert AZ, 85296

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5 beds, 2.5 baths
Home size: 3,530 sq ft
Lot Size: 9,148 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199865
Community: VAL VISTA
Tract: VAL VISTA
Status: Active


Gorgeous 5 bed/2.5 bath, 3 car garage, POOL & LOFT! Enjoy gatherings in the large family room or the living area that is open to the kitchen. BEAUTIFUL upgraded kitchen with white soft close cabinets & pull out pantry shelves, quartz countertops, wine fridge & island! Downstairs you'll find one bedroom (or could use as den) & a half bath, laundry room, formal dining room, living room (with wood burning fireplace) & kitchen. Upstairs boasts a huge loft, master bedroom with a walk in closet and beautiful shower and separate tub, 3 guest bedrooms & guest full bath. Resort style backyard living with a fenced POOL with a waterfall, grass play area & plenty of entertainment space! Enjoy an expanded driveway for 4 cars & an RV gate on the side. Schedule your showing toda

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/!


$559,900 :: 1974 W PENINSULA Circle, Chandler AZ, 85248

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3 beds, 2.5 baths
Home size: 2,300 sq ft
Lot Size: 6,099 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199855
Community: THE PENINSULA MCR 319-41
Tract: THE PENINSULA MCR 319-41
Status: Active


RUN before this stunning home is SOLD! Located in the beautiful gated community of PENINSULA! Million Dollar views of Ocotillo Lakes and Golf Course! Bright open floor plan. GOURMET Professional KITCHEN ,STAINLESS STEEL INDUSTRIAL APPLIANCES, Two gas fireplaces, central vacuum, bathrooms are tiled in limestone, , Solar electric grid tied system will save you $$ every month. DESIGNER LIGHT FIXTURES, SURROUND SOUND, SPECTACULAR BACK YARD WITH BUILT IN 5 BURNER STAINLESS STEEL BBQ, and WATER FEATURE. THE BALCONY off THE Owners Suite has THE INFINITE VIEW OF Mountains, GOLF COURSE & LAKES, THERE IS A WOW FACTOR IN EVERY ELEMENT OF THIS HOME. To many upgrades to list but is sure to impress any buyer!

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/!


$540,000 :: 630 W ORIOLE Way, Chandler AZ, 85286

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4 beds, 2 baths
Home size: 2,257 sq ft
Lot Size: 8,712 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199840
Community: CARINO ESTATES AMD
Tract: CARINO ESTATES AMD
Status: Active


What a gorgeous single level in Chandler! This fantastic home offers exquisite curb appeal, 3 car garage w/extended driveway, and a meticulously landscaped front yard. Inside you'll find vaulted ceilings, a large family/dining room, plantation shutters, so much natural light, and a cozy family room w/fireplace. The gleaming kitchen features SS appliances, maple cabinets, lots of counter space, a center island, desk, and walk-in pantry. The spacious master suite has bay window, a door to the back patio, and an immaculate en suite with jetted tub, step-in shower, dual sinks and walk-in closet. 4th bedroom could be used as den, office or a game room. Delightful backyard includes a covered patio with lush lawn & mature trees. Everything you're looking for you'll find it here! Act now!

Listed with AZ Flat Fee


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


$499,950 :: 602 W CANARY Way, Chandler AZ, 85286

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5 beds, 3 baths
Home size: 2,350 sq ft
Lot Size: 7,841 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199834
Community: CARINO ESTATES
Tract: CARINO ESTATES
Status: Active


Home rates 10++. Home is clean, fresh, well manicured, upgraded, loved all along and sitting on a premium lot with pool and panoramic view of the green belt. You will experience the soaring vaulted ceiling & breathtaking carved rails in the formal area.Home has gazillion upgrades - designer tile, large kitchen with upgraded counter tops, custom paint, fantastic lot with greenbelt & much much more. Comes with a bedroom and full bath downstairs. Close to INTEL, WELLS FARGO, 202, GM, school, park, lake, shopping , Chipotle, Subway, Pizza hut and more. Flexible for an INVESTOR or a PRIMARY HOME buyer. There is a tenant who would like to lease for long term for around $2200. Home is in great move in ready condition. As your agent about showing schedules.

Listed with Kirans and Associates Realty 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/!


$374,900 :: 3971 E BARBARITA Avenue, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 1,946 sq ft
Lot Size: 5,663 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199827
Community: EL DORADO AT THE HIGHLANDS
Tract: EL DORADO AT THE HIGHLANDS
Status: Active


Stunning El Dorado at the Highlands home just hit the market in Gilbert! This beautiful two story home features 4 bedrooms, 2.5 bathrooms and 1946 sq ft of living space. The first floor features a formal living and dining area with vaulted ceilings and bright windows. Large family room with built in office space that overlooks the kitchen. The kitchen comes with quartz countertops and a beautiful center island. New laminate flooring and carpet. All bedrooms are on the second floor. Entertain in style under the covered patio or by the outside firepit and water feature. Large backyard also has a spacious storage shed. Located in a quiet neighborhood in the highly coveted Gilbert Unified District. Unbelievable price, will not last long!

Listed with J.S. Real Estate, 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/!


$359,900 :: 683 W GAIL Drive, Chandler AZ, 85225

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4 beds, 2 baths
Home size: 1,676 sq ft
Lot Size: 8,277 sq ft
Added: 02/09/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6191936
Community: COLLEGE PARK 6
Tract: COLLEGE PARK 6
Status: Active


This is a beautiful four bedroom MOVE-IN ready home. The home features a brand new kitchen with open shelving, new refrigerator and stove. Seller is offering $1,000 allowance for countertops. Fabulous tile with custom tile mosaics in entry & both bathrooms along with ceiling fans and upgraded lighting throughout the home. There is also a great room as well as a living room with a cozy fireplace. In addition, you will also find a 2 car garage with extra space, an RV gate with parking & a huge oversize lot with a wonderful sparkling diving pool. And you will love the large covered patio for experiencing our wonderful Arizona weather. NO HOA - COME SEE IT TODAY!!!

Listed with Valle Del Sol Realty, 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/!


$350,000 :: 1020 S CHESHIRE Lane, Gilbert AZ, 85296

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3 beds, 2.5 baths
Home size: 1,817 sq ft
Lot Size: 3,485 sq ft
Added: 02/26/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6199748
Community: COPPER RANCH AMD
Tract: COPPER RANCH AMD
Status: Active


***MOVE-IN READY, MINT CONDITION IN GILBERT!!***Don't miss this GORGEOUS 3bed/1.75bath home located in the HEART OF GILBERT, in the RED HOT GILBERT SCHOOL DISTRICT!! Beautifully maintained and loaded with extras including GRANITE COUNTER TOPS, TILE FLOORING....and an UPSTAIRS LOFT ideal for a second family room, OFFICE, DEN or kids play area. Located in the highly sought-after COPPER RANCH area, this home is situated across from the COMMUNITY POOL and Park Area...on a CORNER LOT!! Lots of shopping, restaurants, schools and easy freeway access nearby. Finishing touches include private COVERED PATIO area finished with landscape pavers, a cozy front porch overlooking the park and pool...and a spacious 2-car garage. HURRY, THIS ONE WON'T LAST LONG!!

Listed with Keller Williams Integrity First


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


$1,250,000 :: 3483 E VALLEJO Court, Gilbert AZ, 85298

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7 beds, 5 baths
Home size: 5,400 sq ft
Lot Size: 35,284 sq ft
Added: 01/30/21, Last Updated: 02/26/21
Property Type: Single Family
MLS Number: 6183626
Community: Portofino
Tract: Portofino
Status: Active


Rare Gem ready for Multi-Gen Living or Separate Work from Home set up! Luxury Living in the Highly Coveted and Gated Portofino neighborhood tucked into the exclusive Seville Golf and Country Club community. This cul-de-sac home offers space for all to enjoy. Upon entry you will find the guest suite area with full bath near the four car garage. A gated courtyard with gas fireplace offers natural light inside and an extra outdoor space to work, study, play, entertain or eat. Formal Living Room and Dining Room lead to the spacious Gourmet Kitchen (w/Wet Bar at Butler's Pantry) with Double Wall Ovens, 6 burner Gas cooktop, huge Stainless Steel Built in Fridge, massive Walk-In Pantry and lots of space to create delicious meals.Three Bedrooms are near the Family Room sharing a large bathroom

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/!


 

 

 

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