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

$639,990 :: 4875 S QUIET Way, Gilbert AZ, 85298

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4 beds, 3 baths
Home size: 2,797 sq ft
Lot Size: 7,406 sq ft
Added: 11/02/21, Last Updated: 01/17/22
Property Type: Single Family
MLS Number: 6315421
Community: LAYTON LAKES PHASE 2 GILBERT PARCEL 15
Tract: LAYTON LAKES PHASE 2 GILBERT PARCEL 15
Status: Active


Come See this Beautiful 4 Bdr 3 Bth Home in the Wonderful Layton Lakes Community. This home has Wood Like Tile in all the Walkways, Kitchen, and Dining Rooms. The Nicely Updated Kitchen has a Large Island, Granite Counter Tops, Gas Stove, Upgraded Cabinets, and Plenty of Counterspace. The Kitchen has Direct Access to the Raised Dining Areas with a Picture Windows of the Backyard. The Kitchen also looks over into the Great Room so that you can be part of the Entertainment. The Large Great Room is perfect for entertaining Guests and Family. There is a Bedroom and Bathroom Downstairs with a Tile Shower. Upstairs you will find 2 Additional Guest Bedrooms that share a Hall Bathroom with Dual Sinks and a Tile Shower. The Oversized Master Bedroom has a nice On-Suite Complete with Raised Cabinets,

Listed with Call 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/!


$634,999 :: 1421 W SARAGOSA Place, Chandler AZ, 85224

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5 beds, 3 baths
Home size: 2,629 sq ft
Lot Size: 6,970 sq ft
Added: 01/07/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6338998
Community: BLAKEMAN RANCH UNIT 1
Tract: BLAKEMAN RANCH UNIT 1
The price of this listing was last reduced on 1/16/2022 by 2%
Status: Active


Location !!! Location !! Check out this STUNNING 5 Bed 3 Bath home located in the popular Blakeman Ranch community in Central Chandler just north of the 202 Freeway! This 2-story home features laminated wood/tile floor upgraded in 2012 making it MOVE-IN Ready! With soaring vaulted ceilings and 2,600+ sq feet, there is plenty of room for a growing family! Amenities include separate living room, family room, den/office, Master bedroom, and a Guest room with 2nd bathroom on first floor. Upstairs includes a loft, 3 bed + 1bath. Finally, 3 car garage with epoxy flooring, and much more! Out back you will find a full length covered patio perfect for entertaining and a SPARKLING PRIVATE POOL to relax in on hot summer days! Hurry and SEE IT TODAY because this GREAT Opportunity will not last long!

Listed with DPR 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/!


$650,000 :: 270 E APPALOOSA Court, Gilbert AZ, 85296

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5 beds, 3 baths
Home size: 2,735 sq ft
Lot Size: 6,970 sq ft
Added: 10/29/21, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6314413
Community: SETTLER'S POINT PARCEL C LOT 1-203 TR A-D
Tract: SETTLER'S POINT PARCEL C LOT 1-203 TR A-D
The price of this listing was last reduced on 1/16/2022 by 0%
Status: Active


Prepare to be amazed! Come and see this wonderful 5 bed, 3 bath residence now on the market! Great curb appeal, low maintenance landscape, 3 car garage, and RV gate! Inside you will find a spacious dining & living area w/high ceilings, luxurious light fixtures, carpet in all the right places, and warm palette throughout. Cozy family room off the fabulous kitchen, which includes ample wood cabinetry, a walk-in pantry, granite counters, pendant lighting, an island w/built-in dining table, & breakfast nook w/a lovely bay window. The primary bedroom features a walk-in closet, private balcony access, walk-in closet, and upscale ensuite w/dual sinks. The expansive backyard, with its covered patio and view fence, is the perfect place to spend quality time with friends and loved ones! Call NOW!

Listed with Venture REI, 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/!


$396,000 :: 715 W STRAFORD Drive, Chandler AZ, 85225

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2 beds, 1 bath
Home size: 1,036 sq ft
Lot Size: 6,970 sq ft
Added: 11/02/21, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6315559
Community: SUNRIDGE UNIT 4
Tract: SUNRIDGE UNIT 4
The price of this listing was last reduced on 11/12/2021 by 3%
Status: Active


Take a look at this perfectly located nostalgic beauty! Renewed interior boasts fresh palette, a spacious living room w/clean carpet, wood floor in high traffic areas, & a bright dining w/doors to the backyard. Well maintained kitchen offers ample white cabinets, built-in appliances, track lighting, & a garden window overlooking the backyard. Sizable bedrooms with ceiling fans, closets & soft carpet. Full bathroom comes w/neutral tile flooring. Large backyard features a covered patio and great potential to transfer into a Desert Oasis. Close to many restaurants, shopping centers, & easy access to AZ-87. Don't miss it!

Listed with Venture REI, 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/!


$479,400 :: 1200 W KINGBIRD Drive, Chandler AZ, 85286

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3 beds, 2 baths
Home size: 1,525 sq ft
Lot Size: 6,099 sq ft
Added: 01/14/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6341244
Community: CLEMENTE RANCH PARCEL 18A
Tract: CLEMENTE RANCH PARCEL 18A
Status: Active


Beautiful single level home in Clemente Ranch neighborhood. The property is super clean and provides an open concept kitchen and family room. Extra living area is perfect for a formal living room or office area. Large master bedroom has en suite bathroom with separate soaking tub and shower and a large walk-in closet. Completely remodeled home has beautiful granite counters in the kitchen and both bathrooms, new appliances, vaulted ceilings, tile flooring, and ceiling fans in all rooms. Interior and Exterior as been freshly painted. This home is on a oversized lot with a grass backyard and a covered patio provides shade perfect for your BBQ. Property is ready to move in!!!!

Listed with Call 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/!


$598,000 :: 1692 S ROCKWELL Street, Gilbert AZ, 85295

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5 beds, 4 baths
Home size: 2,900 sq ft
Lot Size: 7,841 sq ft
Added: 01/07/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6338917
Community: LYONS GATE PHASE 1 AND 2
Tract: LYONS GATE PHASE 1 AND 2
Status: Conditional


This stunning corner lot home could be yours today. Step inside to an absolutely beautiful interior and accents. A open floor plan with cheif kitchen that features stainless steel appliances, double ovens, granite counter tops & walk-in pantry. Newer upgraded gorgeous flooring & 61/2'' baseboards t/out- no carpet, a family room w/stone wall & an electric fireplace. 5 bedrooms w/ 2 of them master bedrooms, 1 bedroom down stairs & 4 bathrooms. This home shows pride of ownership w/newer interior & exterior paint, flooring, baseboards, lighting & kitchen appliances. Enjoy relaxing in the resort like backyard. The house has a fabulous 4 car tandem garage w/ plenty of custom cabinets & 220amp. You truly need to see this home to appreciate it's beauty!! This one will go quick, MUST SEE TODAY!!

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/!


$665,990 :: 3884 E DOGWOOD Place, Chandler AZ, 85286

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4 beds, 2.5 baths
Home size: 2,323 sq ft
Lot Size: 6,970 sq ft
Added: 01/14/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6342450
Community: LAYTON LAKES PARCELS 16 AND 18
Tract: LAYTON LAKES PARCELS 16 AND 18
The price of this listing was last increased on 1/16/2022 by 2%
Status: Active


Beautiful single level home located in the very popular Layton Lakes Community. This home has a split floor plan with 4 bed/2.5 bath plus a den/office. Master bedroom includes two walk-in closets. Three car tandem garage with epoxy coated floor. Water softener and reverse osmosis are included. Wood-like tiles throughout house except for bedrooms and den. Beautiful kitchen with quartz counters, pantry, large island with breakfast bar. Excellent School District. It's a must see. Do not miss out on this opportunity.

Listed with Prestige 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/!


$601,000 :: 907 E ENCINAS Avenue, Gilbert AZ, 85234

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5 beds, 3 baths
Home size: 2,699 sq ft
Lot Size: 7,841 sq ft
Added: 01/04/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6337422
Community: CIRCLE G MEADOWS 3
Tract: CIRCLE G MEADOWS 3
Status: Active


This Gilbert two-story home offers an in-ground pool, 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/!


$1,825,000 :: 4327 E Capricorn Place, Chandler AZ, 85249

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4 beds, 3.5 baths
Home size: 5,638 sq ft
Lot Size: 18,731 sq ft
Added: 01/16/22, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6340419
Community: CITRUS PRESERVE/ VASARO
Tract: CITRUS PRESERVE/ VASARO
Status: Active


Welcome to this one-of-a-kind Tuscan beauty! Notice the distinctive architecture at every turn - from unique ceiling features in every room, to art niches and a 400+ bottle, temperature controlled wine cellar. The main living area features gourmet kitchen w/double islands; great rm w/FP; formal dining; & game rm w/full bar & pool table. The owner's suite has a gas FP; 2 walk-ins, snail shower & sitting rm. The guest wing offers an office/library & half bath; 3 bedrooms, w/walk-in closets. One has it's own bath w/steam shower; the other 2 share a full bath; plus a den/media room. The backyard is an entertainer's dream: solar heated pool & spa, ramada w/BBQ island, fire ring & expansive covered patio. The 4 car garage is deep with epoxied floor & lots of attached cabinets. MORE pics to come!

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/!


$655,000 :: 4139 E Vaughn Avenue, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,829 sq ft
Lot Size: 6,534 sq ft
Added: 12/03/21, Last Updated: 01/16/22
Property Type: Single Family
MLS Number: 6326341
Community: Highland Groves at Morrison Ranch
Tract: Highland Groves at Morrison Ranch
The price of this listing was last reduced on 1/16/2022 by 3%
Status: Active


With treelined streets, sidewalks, lakes with fountains, sports courts, children's playgrounds and front patios, Highland Groves at Morrison Ranch has a timeless charm reminiscent to the time when you were growing up, which you and your family can experience today. This nicely appointed and freshly painted family home has cherry cabinets, granite counters, central vac, jetted master bathtub and upgraded wiring/sound system. There is plenty of flexibility with both family and formal space for your lifestyle. Working from home or need a playroom? The upstairs loft will be perfect for you. Have a 3rd car, extensive tool collection or a hobby? The 3rd garage space provides the flex space you need. Gift yourselves this holiday season with a home to create your own special family memories.

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/!


 

 

 

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