In any given month, distressed sales (foreclosures,short sales, or trustee sales) account for over 50% of the total sales in most all of the Phoenix valley cities. Ski lake properties have been somewhat insulated from this type of transaction, but during 2010 distressed sales have increased in these unique waterfront communities. Three of the Phoenix ski communities had no recorded sales of any kind in 2010. All sales during the year ocurred in Gilbert ski lake communities; Crystal Point, Santan Lakeside and Playa del Rey Estates. 33% of those were distressed sales.
Gilbert is known for many things. A safe community with a family friendly atmosphere. A great place to raise children with a high quality of life. A growing community with highly rated schools. Good freeway access to Phoenix and surrounding areas. Affordable homes including waterfront and lake communities and award winning hospitals. All in all, Gilbert is one of the most desireable towns in the Phoenix valley. For a sample of some of the things that make Gilbert such a popluar community, read on.
If you live in Phoenix or are thinking about moving to Phoenix, you’ll have to come to terms that we share the desert with these anthropods that are reported to have been around for millions of years! The bark scorpion, the most notorious because it is the most venomous, measures 1 – 2 inches and like most scorpions is relatively inactive during the day. Most stings occur at night during the warm summer months. Scorpions are nocturnal, predatory creatures that feed on a variety of spiders, insects, centipedes, and other scorpions. To set your mind at ease, according the University of Arizona, there have been no reported deaths in the U.S. due to scorpion stings. Read on to find out how to minimize contact with our infamous desert mascots.
Short sales, once almost unknown, have become a significant part of the real estate jargon in Phoenix Az. Short sales remain one of the most misunderstood real estate transactions inspite of their increasing numbers. There are many aspects and implications a seller must understand reinforcing the need to seek competent legal and tax advice. First of all, let’s define an Arizona short sale. A short sale is when the lender/investor is willing to authorize the sale when the proceeds do not cover the outstanding loan amount. What are the issues to be considered by Phoenix valley homeowners regarding a short sale?
Maricopa County Tax Bills Arrived – Some Happy, Some Not
The motivation for this article comes from all the recent news about taxes, and some buyers who say interesting things like “The property values have gone down, so the taxes better be lower!” With that I thought it was the right time to dig in and get to the bottom of this sensitive topic. I’m glad I did because there are some interesting facts of which I was unaware. Read on and find out what is myth, what is reality, and discover some unknown facts.
An almost hidden feature of Gilbert, Chandler and Mesa is the recreational trail system that has been developed along the canals that have been in the east valley longer than 99% of the homes. The Consolidated Canal, 18 miles long runs thr0ugh Mesa, Gilbert and Chandler and dates back to 1891. The development of recreational paths along SRP canals has become an attractive amenity in many cities. Bikers and joggers will be most familiar with the paths since they offer a welcome alternative to narrow sidewalks, inattentive passing cars and frequent crossings at stop lights.
The graph to the left shows the the monthly price per square foot of sales for the last 10 years for Gilbert and Chandler. A good opportunity to see where we are compared to pre-bubble sales activity. The twin cities of Gibert and Chandler have similar trends for the last 10 years. Current price per square foot is similar to 1993 levels. Do other Phoenix area cities have similar patterns?
A Phoenix water ski home or lot is a unique type of Arizona real estate. Man made with one of Arizona’s most precious resources there are only 6 water ski communities in the valley. Ready for some Phoenix water ski real estate trivia? How many waterski homes / lots are there in Phoenix? See the answer at the end of this post. Right now we’re going to look at a recap of the activity and sales of homes and lots during 2009 and year to date in 2010.
Is one Phoenix valley city more expensive to live than another?
When someone is relocating to Arizona, I liken it to drinking out of a firehose. There is so much information, both qualitative and quantitative, to digest (or swallow) that it is an overwhelming task. Many future home buyers want to know about property tax differences between cities. But nobody ever asks about the difference between the overall tax burden including utilities. The Arizona Republic published an article on April 4, 2010 that attempts to compare the cumulative effect of taxes and fees for some of the major Phoenix valley cities.
|Municipality||Tax Rate *||Sales tax**||Garbage||Water ***||Sewer||Total|
|Gilbert||$1.15 ($234)||1.5% (7.8%)||$17.30||$31.13||$24.93||$1,646|
|Chandler||$1.18 ($233)||1.5% (7.8%)||$15.07||$32.56||$19.97||$1,650|
|Tempe||$1.40 ($274)||1.8% (8.1%)||$19.98||$30.29||$23.68||$1,799|
|Mesa||$0.30 ($61)||1.75% (8.05%)||$23.88||$52.48||$30.19||$1,862|
|Scottsdale||$0.74 ($143)||1.65% (7.95%)||$15.89||$51.81||$39.11||$2,007|
|Surprise||$0.57 (80)||2.2% (8.5%)||$16.63||$51.14||$24.78||$2,041|
|Peoria||$1.44 ($289)||1.8% (8.1%)||$15.06||$40.87||$24.56||$2,092|
|Phoenix||$1.82 ($353)||2% (8.3%)||$26.85||$40.96||$31.53||$2,208|
|Glendale||$1.60 ($319)||2.2% (8.5%)||$16.30||$40.94||$37.79||$2,310|
|Avondale||$1.11 ( $283)||2.5% (8.8%)||$19.00||$42.05||$44.29||$2,422|
|* Combined annual municipal primary and secondary taxes per $100 assessed value for a $250,000 home.** Sales tax for individual municipality. % in parentheses is the combined city and state tax.|
|*** Based on 15,000 gallons per month usage.|
One of the most confusing and frustrating types of real estate sales is the short sale transaction. Having helped owners that have a financial hardship and negative equity sell their home and also assisted buyers in the purchase of short sales, I felt it would be beneficial to highlight some different facets of Phoenix area short sales. Here are two simple facts that will help a buyer become more prepared and successful when considering a waterfront short sale or any type of short sale purchase.