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

$542,000 :: 2491 W MULBERRY Drive, Chandler AZ, 85286

5 beds, 4 baths
Home size: 4,004 sq ft
Lot Size: 10,890 sq ft
Added: 01/21/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6023484
Community: PECOS RANCH ESTATES
Tract: PECOS RANCH ESTATES
Status: Active


Beautiful Home, tucked away at the end of a quiet street. As you walk into the home, you're greeted by an open flow concept w/ high-quality 3/4'' oak flooring underfoot, soaring vaulted ceilings and an elegant, curved staircase leading up to a loft & several bedrooms. The large balcony off of the loft has stunning views! The rest of the home is a continuation of the same quality - the kitchen features: Corian solid surface counter tops, a large island, a built-in sub-zero fridge, oven and microwave - The upstairs master suite is large & features: double vanities, a jetted tub, & a large shower. Downstairs bedroom with full bathroom. Lots of room in the backyard. Features include a large covered patio, RV gate, and fountain/pond.

Listed with eXp 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/!


$249,000 :: 1470 E DORAL Drive, Chandler AZ, 85249

2 beds, 2 baths
Home size: 1,060 sq ft
Lot Size: 4,792 sq ft
Added: 01/22/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6027330
Community: SPRINGFIELD BLOCK 2
Tract: SPRINGFIELD BLOCK 2
Status: Active


Home comes completely furnished.....just bring your personal items! This adorable home features plantation shutters, open floor plan, vaulted ceilings & laminent wood floors.. The gorgeous kitchen has granite counters, tile back splash, stainless appliances, pendant lights, pantry & bay window overlooking the front yard. Master bedroom with bay window, double sinks & walk in closet. Second bedroom with a built in Murphy bed so you still have usable living space. Oversized yard gives you more space between homes. Relax on your extended, covered back patio, or meet the neighbors from your front patio. Epoxy garage floor & built in cabinets. Springfield is a gated community with 2 pools, spa, golf course, tennis, pickle ball, gym, bar/grill & tons of activities

Listed with Revelation 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/!


$619,000 :: 6649 S CHAMPAGNE Way, Gilbert AZ, 85298

Property Photo

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5 beds, 4 baths
Home size: 3,210 sq ft
Lot Size: 13,940 sq ft
Added: 11/01/19, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 5999415
Community: SEVILLE PARCEL 30
Tract: SEVILLE PARCEL 30
The price of this listing was last reduced on 1/22/2020 by 1%
Status: Active


Incredible corner lot home is now available in delightful Gilbert! All in perfect condition waiting just for you. Providing great curb appeal and grassy front landscaping. Remodeled interior offers 5 bed, 4 bath, neutral color palette, so much natural light, carpet in all the right places, and luxurious light fixtures throughout. Gourmet eat-in kitchen is complete with sparkling stainless steel appliances, cabinetry with crown molding, centered island with sink and breakfast bar, tiled back-splash, and granite counter-tops. Bright master suite has a private exit, spotless full bath with dual sinks, separate tub, step-in shower, and walk-in closet. Huge grassy backyard with covered patio is perfect for relaxing afternoons.

Listed with Newman 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/!


$340,000 :: 1348 E JUANITA Avenue, Gilbert AZ, 85234

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3 beds, 2 baths
Home size: 1,592 sq ft
Lot Size: 6,099 sq ft
Added: 01/13/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6023423
Community: PARK VILLAGE UNIT 2 LOT 1-42
Tract: PARK VILLAGE UNIT 2 LOT 1-42
The price of this listing was last reduced on 1/22/2020 by 1%
Status: Active


Pride of ownership shows throughout this home! NO HOA!! Integra block home, upgraded low E windows, Newer exterior stucco walls surrounding home, solar lights on backyard fence, Newer cool deck, New oversized patio with pull down shades, & misting system, AC Unit6yrs old, Variable speed pool pump 6yrs old, Updated garage w/built in shelving an epoxy flooring, Low maintenance yards w/artificial grass, Upgraded changeable LED pool light, New 24'' porcelain tile in most of the main areas, Updated guest bathroom with bluetooth & jacuzzi tub, Custom closets, Updated light switches w/dimmers, New hot water heater, Updated light fixtures. This is a Must See Home! TV& furnishings on patio do NOT convey. No sign in yard yet.

Listed with Mynd Property Management


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


$229,900 :: 1853 E PALM BEACH Drive, Chandler AZ, 85249

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2 beds, 2 baths
Home size: 969 sq ft
Lot Size: 3,050 sq ft
Added: 01/22/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6027321
Community: SUNBIRD UNIT ELEVEN
Tract: SUNBIRD UNIT ELEVEN
Status: Active


This Immaculate Well-Maintained home is light & bright with an Open Floor Plan, Vaulted Ceilings, Split Bedrooms, Large Master Bedroom and Walk-in Closet. Front yard is Beautifully landscaped and Backs up to a Large Common Area. Has newer Trane 2.5-ton HVAC, Tile Flooring with Carpet in Bedrooms, Wooden Shutters and Blinds, Ceiling Fans, Covered Back Patio with Extended Concrete Patio, Front Security Door and Garbage/Recycle Enclosure. Amenities: Exec. Golf Course, Driving Range, 43,000 sqft Clubhouse, 7,600 sqft Ballroom, Restaurant & Bar, Heated Pool & Spa, Health Club, Billiards Room, Tennis, Pickleball & Bocce Ball Courts, Post Office, Library, Lapidary, Ceramic & Craft Rooms, Bike/Walking, Fishing Lakes & Horseshoes.

Listed with Revelation 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/!


$415,000 :: 4292 E IVANHOE Street, Gilbert AZ, 85295

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5 beds, 3 baths
Home size: 2,490 sq ft
Lot Size: 7,406 sq ft
Added: 01/22/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6027325
Community: ASHLEY HEIGHTS
Tract: ASHLEY HEIGHTS
Status: Active


Your search is over! This 5 bedroom 3 full bath home is a must see! Very large backyard with a great size pool, perfect for entertaining. A grass area and an RV gate, perfect for parking that RV, boat, trailer, etc. Owners have added a flat screen TV out by the pool area, cafe lights surround the backyard, and a pool fence has been added also. Brand new appliances in the kitchen, purchased August 2018. Tons of counter space with 42'' upgraded Maple Cabinets. There is one bedroom downstairs, perfect for guest, out of state visitors and teenagers. A/C was replaced in 2015, Hot water heater was replaced in Jan 2018. Pool pump is variable speed and was replaced in June 2018. Ashley Heights Community Park which Features a Children's Play Area, Tennis, Basketball & Volleyball Courts.

Listed with Stone Tree 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/!


$450,000 :: 3808 E Rakestraw Lane, Gilbert AZ, 85298

Property Photo

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3 beds, 2.5 baths
Home size: 2,252 sq ft
Lot Size: 5,663 sq ft
Added: 01/22/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6027289
Community: Bridges
Tract: Bridges
Status: Active


STUNNING, move-in ready home in highly sought-after Bridges at Gilbert community. Situated on a premium lot and extremely well-maintained with upgrades galore! Light and bright! Gorgeous exterior with paver driveway, extra storage with built-in cabinets in 2.5 car garage. Open floor plan with spacious family room and gourmet kitchen, featuring tuxedo cabinets, stainless steel gas appliances, 5-burner stove, double oven, granite countertops, RO drinking system, large pantry and custom wine closet. Upgraded trim - baseboards, crown molding and plantations shutters throughout. Spacious master suite with separate tiled tub/shower, dual vanities and large walk-in closet. Formal dining room can be used as a flex space, office/den, teen or game room. The backyard is beautiful with a view

Listed with Keller Williams Realty East Valley


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


$310,000 :: 3884 E ENCINAS Avenue, Gilbert AZ, 85234

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4 beds, 2.5 baths
Home size: 2,039 sq ft
Lot Size: 5,228 sq ft
Added: 01/22/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6027295
Community: CAROL RAE RANCH
Tract: CAROL RAE RANCH
Status: Active


MOVE-IN READY! Large property in sought-after Carol Rae Ranch community! Previous rental, now yours to enjoy or use as investment rental! NEW blinds throughout! Open floor plan with large kitchen, plenty of storage, breakfast nook, formal dining & living PLUS family room! Extra large backyard untouched to suit your needs. Add a pool, jacuzzi, garden or firepit! Endless possibilities. Large master with walk-in closet, separate downstairs guest bath, upstairs shared bath & 3 additional bedrooms. New sink/faucet/microwave!

Listed with Keller Williams Realty Biltmore Partners


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


$319,850 :: 41 S WILLOW CREEK Street, Chandler AZ, 85225

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3 beds, 2 baths
Home size: 1,400 sq ft
Lot Size: 4,792 sq ft
Added: 01/12/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6022366
Community: SPRINGS TRACT G
Tract: SPRINGS TRACT G
The price of this listing was last reduced on 1/22/2020 by 0%
Status: Active


Fantastic 3 bedroom 2 bath home in the Popular Springs Community of Chandler. Beautiful lakes, lush parks, and a great Community Pool and Racquet club are some of the benefits of this gorgeous community. The home has a Great room layout with soaring vaulted ceilings, newer carpet, wood tile floors & has a Remodeled and Updated kitchen featuring gorgeous white kitchen cabinets , slab granite, & stainless steel appliances with a sleek white iron apron front sink. Home has an oversized master bedroom with additional 2 spacious bedrooms. Both bathrooms have updated features such as granite counters and upgraded lighting. Home has a spacious 2 car garage with built in shelves & the yard has lush grass with North facing covered patio. Come see this great home. All furniture is also for sale.

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/!


$334,000 :: 503 W SUNDANCE Way, Chandler AZ, 85225

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3 beds, 2 baths
Home size: 1,751 sq ft
Lot Size: 7,406 sq ft
Added: 01/17/20, Last Updated: 01/22/20
Property Type: Single Family
MLS Number: 6025301
Community: DAVE BROWN UNIT 2 LOT 1-253
Tract: DAVE BROWN UNIT 2 LOT 1-253
Status: Active


BUILT IN 2018!!! This beautiful open floor plan home is nearly brand new. The owner only lived in the home for 6 months. Come see this custom home for yourself. Dinner parties and gatherings will have guests amazed when they walk in to see the wide open floor plan and desirable wood-look tile. This home has a swanky kitchen with crisp white cabinetry, clean lines and an island that seems endless. Step out back through the beautiful french doors onto the large custom stained concrete patio. Relaxing under the two patio ceiling fans will make you feel like you're on an endless vacation. No landscaping maintenance necessary as the front yard has classy decorative rock throughout and the back yard has very nice - maintenance free artificial grass.

Listed with Crossroads Brokerage


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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