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

$620,000 :: 6986 S Kimberlee Way, Chandler AZ, 85249

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4 beds, 2.5 baths
Home size: 2,872 sq ft
Lot Size: 10,019 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6235861
Community: SUN RIVER
Tract: SUN RIVER
Status: Active


Look no further, this four bedroom, two and a half bath with office and pool wont last long. This home also has newer HVAC units, owned solar and a beautifully remodeled master bath.

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/!


$559,900 :: 94 W ORIOLE Way, Chandler AZ, 85286

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4 beds, 3 baths
Home size: 2,750 sq ft
Lot Size: 7,841 sq ft
Added: 04/27/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6224401
Community: CARINO ESTATES PARCEL 3
Tract: CARINO ESTATES PARCEL 3
The price of this listing was last reduced on 5/14/2021 by 2%
Status: Active


Large 4 bedroom, 3 bathroom, 3 car garage(s), home in the Township of Ocotillo Chandler. The home is located on a large corner lot near a lush greenbelt, with no 2 story homes overlooking the private backyard. In addition to the 4 bedrooms, there is a large loft, and bonus/turret room that can be used as an extra bedroom(s), crafts rooms, game rooms, or office. The large kitchen boasts solid midnight star granite countertops, bar style seating, and a $2,000+ Induction Stove. Keep Cool, as there is a fan in almost every room. There is a 1st floor bedroom that has seperate garage access, that would be perfect for a home office, or mother-in-law-suite.

Listed with AZ-REP


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


$707,000 :: 169 E DESERT BROOM Drive, Chandler AZ, 85286

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5 beds, 4.5 baths
Home size: 3,252 sq ft
Lot Size: 6,099 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6236074
Community: ENCLAVE AT HAMILTON RANCH
Tract: ENCLAVE AT HAMILTON RANCH
Status: Active


Built in 2018, this Chandler two-story home offers a patio, granite countertops, and a two-car garage.

Listed with Opendoor Brokerage, 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/!


$825,000 :: 3533 E PENEDES Drive, Gilbert AZ, 85298

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4 beds, 2.5 baths
Home size: 3,095 sq ft
Lot Size: 9,584 sq ft
Added: 05/07/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6231777
Community: MARBELLA VINEYARDS PHASE 2B
Tract: MARBELLA VINEYARDS PHASE 2B
Status: Active


Welcome to the highly sought after community of Marbella Vineyards in Gilbert. This single level, 4 bedroom, 2.5 bathroom Shea Renew model sits on a premium North facing lot with beautiful pavered drive, 3 car garage, modern interior & a professionally landscaped backyard with pool, water feature, built-in BBQ, and artificial turf for endless weekend fun. Inside you'll find no detail spared in the building of this nearly new home with a large greatroom floorplan, feature kitchen with white cabinetry, oversized wrap around island, and formal eating area. The wood look tile, neutral color palette, and stunning tile choices in the master ensuite bath with soaking tub, glass shower, and vanity with extended closet upgrade make this executive home feel extra special. The secondary bedrooms...

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/!


$350,000 :: 4362 E CARLA VISTA Drive, Gilbert AZ, 85295

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2 beds, 2.5 baths
Home size: 1,347 sq ft
Lot Size: 3,050 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6236056
Community: WILLOWS
Tract: WILLOWS
Status: Active


Move in ready 2 Bedroom, 2.5 bath home in The Willows. Updated carpet and paint done in the last week along with a new garbage disposal. Carrier air conditioner installed in 2017. Community pool just down the street with playgrounds close by. Won't last long. All offers will be reviewed on Monday morning and a buyer chosen then.

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 :: 6279 S SUNNYVALE Court, Gilbert AZ, 85298

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3 beds, 2 baths
Home size: 1,783 sq ft
Lot Size: 6,099 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6236037
Community: SEVILLE PARCEL 1
Tract: SEVILLE PARCEL 1
Status: Active


Come see this cozy 3 bedroom 2 bath with an office/den in the beautiful Seville Community of Gilbert AZ. Gas fireplace in family room and eyebrow arches adds charm to the home scene all year round. Enjoy breakfast in natural light offered in the kitchen nook. Master bedroom comeswith walk-in closet. Master bathroom has double sinks, separate tub and shower. Backyard by design with covered patio and ready for your own touch to beenjoyed. Shopping nearby and close to the San Tan foothills.

Listed with Farnsworth-Ricks Management & 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/!


$399,000 :: 1230 W Geronimo Place, Chandler AZ, 85224

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3 beds, 2 baths
Home size: 1,542 sq ft
Lot Size: 5,663 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6236015
Community: Blakeman Ranch
Tract: Blakeman Ranch
Status: Active


Beautiful 3 bedroom 2 bath home with vaulted ceilings. Very light and bright from the minute you step through the front door. A center wall was removed making one continuous living space and incorporating the living, dining and kitchen all into one big Great room. All new stainless appliance in the kitchen. The AC unit was replaced just last year. Great outdoor space with nice covered patio and pool along with nice floral landscaping. The kitchen has a brand new slider to the outdoors. Home is close to Parks the 202 and Intel. Your clients will love it! Come show it Now.

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/!


$639,000 :: 1022 W SPUR Court, Gilbert AZ, 85233

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4 beds, 3 baths
Home size: 3,080 sq ft
Lot Size: 10,019 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6235979
Community: ARTEMINA 2
Tract: ARTEMINA 2
Status: Active


Incredible find needs some love in desirable Artemina 2 neighborhood. This corner lot home has everything you could want in a fabulous neighborhood: meticulously cared for and beautiful lawn with landscape lighting and artificial turf, freshly-painted exterior, RV gate, 12-foot ceilings, 2 new Trane AC units, tile roof, plantation shutters, great room, lots of built-ins, split floor plan, Bose surround sound in great room, gas fireplace, outdoor speakers on patio, pebbletec pool with fountains, surrounded by freshly-refinished cool deck, built-in barbecue, natural stone-tiled covered patio - and a price that allows you the budget to update it with your own interior paint, flooring and appliances. Make this one truly your own!

Listed with ProAmerica 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/!


$639,900 :: 927 E Buckingham Avenue, Gilbert AZ, 85297

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5 beds, 3.5 baths
Home size: 3,650 sq ft
Lot Size: 8,277 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6235974
Community: LAYTON LAKES
Tract: LAYTON LAKES
Status: Active


Just when you thought the perfect home didn't exist..you realize...THIS IS IT!!!!!This 5 bedroom, 3 1/2 bath with an office down stairs offers a great floor plan with a spacious lay out and an entertaining back yard which was recently remodeled.

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/!


$635,000 :: 3938 E DUBOIS Avenue, Gilbert AZ, 85298

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4 beds, 3 baths
Home size: 2,540 sq ft
Lot Size: 8,712 sq ft
Added: 05/14/21, Last Updated: 05/14/21
Property Type: Single Family
MLS Number: 6235935
Community: Seville Golf & Country
Tract: Seville Golf & Country
Status: Active


Your search ends here! This is golf course living at its best. The popular four-bedroom, three full bath plan, beautiful Shea home is located in Seville Golf & Country Club within walking distance to the 18-hole golf course, clubhouse, restaurant facilities, sport club and pools. Riggs Elementary is in walking distance too. The kitchen has been refurbished with granite countertops and island seating plus other kitchen seating. Two bedrooms share a Jack and Jill bathroom. There is a living room, dining area and separate family room with professionally built bookcases and two desks! The backyard has patio, refinished Pebble-Tec pool and spa with a low-maintenance yard. There is a new tankless Water Heater, Water conditioner with RO system. Enjoy the three-car garage with cabinets! ...And the

Listed with Coldwell Banker 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/!


 

 

 

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