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Chandler, AZ - Market Activity 06/30/2009
Chandler, Arizona market has seen a rise in the last few months, that is a plus for all of us homeowners. See the changes for your own eyes with this week's Chandler Market blog...
As of today, June 30, 2009 there are:
Active listings - 1,329
Pending - 554
Closed - 01/01/2009 - 06/30/2009 - 1,615
Statistics for Maricopa County, as of June 30, 2009:
Active listings - 29,826
Pending - 12,059
Closed as of - 01/01/2009-06/30/2009 - 39,045
Summer Time....
This is just a fun picture...we were at our neighbor's house when the aloe plant was in bloom. The bee's were just swarming.
You're Neighborhood Realtor© We proudly serve and sell Real Estate in all and around Phoenix, Arizona. If you are thinking about purchasing and selling your home in Phoenix, Chandler, Gilbert, Scottsdale, Tempe, Mesa, Fountain Hills, Paradise Valley and Queen Creek or other surrounding areas, and most importantly would like to work with a local expert... "Let Our Family Help Yours!"
Michael & Cheron Lange
Realtors© - John Hall & Associates
480-319-1000
Michael@lofhy.com
Cheron@lofhy.com
Copyright© 2009 Michael & Cheron Lange
Photos taken by Michael K. Lange, Photographer...in the making.
All Rights Reserved and may not be reproduced without express written permission. Permission is usually granted if credit is given with a link back to us.
Thank you for being understanding!
Market Statistics – Chandler, AZ 06/29/2009
Real Estate Price Trends
The median single family home price as of June 28 2009 for CHANDLER is $258,488.
Housing Market Conditions
With a Market Action Index as of June 28 2009 at 18.17, CHANDLER is currently a buyer's market.
Home Sales and Demand Trends
The average property in CHANDLER as of June 28 2009 has been on the market for about 176 days.
Price Per Square Foot
The median price per square foot for homes in CHANDLER as of June 28 2009 is about $122.
Homes for Sale
There are about 1,694 properties on the market in CHANDLER as of June 28 2009.
Life as a Parrot
A couple of weeks ago, my husband and I ventured with the kids to the Wildlife Zoo on the other side of Phoenix. Life is good through the eyes of your little ones!
You're Neighborhood Realtor© We proudly serve and sell Real Estate in all and around Phoenix, Arizona. If you are thinking about purchasing and selling your home in Phoenix, Chandler, Gilbert, Scottsdale, Tempe, Mesa, Fountain Hills, Paradise Valley and Queen Creek or other surrounding areas, and most importantly would like to work with a local expert... "Let Our Family Help Yours!"
Realtors© - John Hall & Associates
480-319-1000
Copyright© 2009 Michael & Cheron Lange
Is now the time to BUY?
For many months now, the media has had some negative news about the housing market here in Arizona…How is the housing market? Is it time to buy when foreclosures are up to an all time high? What is really going on with the banks? What is a short sale? And will a short sale really benefit myself? What is the first time tax credit?...There are so many questions that seem to be arising and yet a times confusing a lot of individuals.
This morning, my husband and I had a great conversation. We both felt that we had neglected our clients…we have been lax on calling them just to say HI , sending emails about various properties, plus keeping track of market trends and so forth. To give us some credit, we have this awesome web-site that provides our clients with the BEST tools in looking for a house and making an informed decision! Our web-site has been "hopping," and doing what it is suppose to do…we just felt that the personalization that we have always provided just needed to happen a lot more! And for this, to all our wonderful clients, we are SORRY!
Now is an excellent time to buy! Need I say more?! Sometimes that old saying, "You snooze, you lose," happens in this market. Eventually when you look at the numbers, it will no longer be a seller's market, but a buyer's market.
I spent some time this morning going over the MLS – market for Chandler and the east valley…
FYI just a few months ago, the inventory of homes in the Phoenix metro area was at an all time high of over 60,000 homes, now we are sitting at less than 35,000 homes. That is quite a drastic drop!
Chandler Market as of 06/11/2009
Active listings – included are the listing that are active with contingencies - 1,335 listings
Pending - 518 listings
Closed – 01/01/2009-06/11/2009 - 1,343 listings
East Valley Market as of 06/11/2009 – Cities included Paradise Valley, Scottsdale, Mesa, Gilbert, Queen Creek, Tempe, Fountain Hills and Phoenix
Active listings – included are the listings that are active with contingencies - 12,283 listings
Pending - 5,901 listings
Closed - 01/01/2009-06/11/2009 17,363 listings
The market is moving, we do not have a crystal ball to foretell the future…just last month, the prices maintained and in some areas the pricing even gained a few dollars here and there. Opportunity only knocks for so long don't let the American Dream for home ownership pass you up.
What is a Short Sale?
Have you ever wondered what a Short Sale is?
A short sale is a negotiated settlement between the property owner and the lender, where the lender agrees to take less than they are owed for their first mortgage. This enables the owner to get out from under the mortgage and move to a more affordable home while preserving at least some of their credit.
Why should people choose to sell their home as a short sale?
Some do it to avoid foreclosure, some get transferred and it is their only option to sell the property and some do it for strictly financial reasons. When the home is worth less than owed it may take many years until that home appreciates enough to recuperate the loss. And in the meantime you are paying x-amount of dollars a month more than your neighbor is paying for the same home.
So what is the difference of a Short Sale vs. Foreclosure…
Short Sale Foreclosure
Fewer legal costs more legal costs
Greater recovery ratio recovery of a lesser amount
Fewer non-performing loans more non-performing loans
Lower reserves higher reserve requirements
Existing loans more marketable to secondary markets possible negative impact on salability of existing loans to 2nd markets
Fewer REO marketing costs more REO marketing costs
Problem solving perception by public negative perception by public
Fewer repairs likely possible extensive property repairs
Greater marketability of property marketing challenge of extensive inventory
Likely greater value from Broker price opinion likely lower appraisal price
Less negative impact on neighborhood can have negative impact on neighborhood and community
Grand Canyon - Nature at it's Best!
Oh...It sure feels like a Monday, even though it's Wednesday, it is hard to get back to the bump and grind! We spent the weekend up near the Grand Canyon and what a beautiful sight it was seeing the Grand Canyon through the eyes of my two kids who saw it for the first time!
Grand Canyon
Just another gorgeous picture of the Grand Canyon...
You're Neighborhood Realtor© We proudly serve and sell Real Estate in all and around Phoenix, Arizona. If you are thinking about purchasing and selling your home in Phoenix, Chandler, Gilbert, Scottsdale, Tempe, Mesa, Fountain Hills, Paradise Valley and Queen Creek or other surrounding areas, and most importantly would like to work with a local expert… "Let Our Family Help Yours!"
Realtors© - John Hall & Associates
480-319-1000
Copyright© 2009 Michael & Cheron Lange
May 2009 – Market Statistics – Zip Code 85286
Active Listings Month Count Median Price DOM Absorption Months Supply 5/2008 400 $329,950 66 17.08 (4.27 %) 23.4 6/2008 402 $329,900 76 21.5 (5.35 %) 18.7 7/2008 383 $330,000 78 26.33 (6.88 %) 14.5 8/2008 383 $315,000 77 30.17 (7.88 %) 12.7 9/2008 398 $315,000 74 32.33 (8.12 %) 12.3 10/2008 397 $310,000 80 34.67 (8.73 %) 11.5 11/2008 381 $309,000 83 36 (9.45 %) 10.6 12/2008 376 $299,900 90 37.25 (9.91 %) 10.1 1/2009 401 $279,000 76 38.83 (9.68 %) 10.3 2/2009 406 $274,638 81 41.75 (10.28 %) 9.7 3/2009 444 $272,000 74 44.33 (9.98 %) 10 4/2009 384 $274,700 87 44.58 (11.61 %) 8.6 Notes:
DOM: Median Days On Market
Months Supply: The number of months it would take to clear the market if no more houses were listed based on a 12-month rolling average of sales rates
Absorption: Average number of properties sold per month based on 12-month rolling average, both as count and percent of active supply
© iMapp, Inc, 2009 | Information is believed accurate but not guaranteed. Buyer to verify all information.
New Listings Sold Listings Month Count Median Price Count Median Price DOM New : Sold 5/2008 97 $325,000 43 $285,000 54 2.26 6/2008 85 $280,000 53 $280,000 58 1.6 7/2008 74 $329,250 58 $274,950 53 1.28 8/2008 107 $289,900 48 $245,000 54 2.23 9/2008 95 $289,900 31 $287,500 32 3.06 10/2008 84 $302,450 37 $270,000 50 2.27 11/2008 75 $289,900 33 $260,000 64 2.27 12/2008 73 $253,000 33 $311,000 70 2.21 1/2009 101 $255,000 32 $260,750 66 3.16 2/2009 70 $247,500 43 $234,900 61 1.63 3/2009 119 $263,000 55 $260,000 60 2.16 4/2009 55 $259,900 35 $260,370 78 1.57 Notes:
© iMapp, Inc, 2009 | Information is believed accurate but not guaranteed. Buyer to verify all information.
| Sold Listings | Non-MLS Sold Properties | |||
Month | Count | Median Price | DOM | Count | Median Price |
5/2008 | 43 | $285,000 | 54 | 0 | -n/a- |
6/2008 | 53 | $280,000 | 58 | 0 | -n/a- |
7/2008 | 58 | $274,950 | 53 | 0 | -n/a- |
8/2008 | 48 | $245,000 | 54 | 0 | -n/a- |
9/2008 | 31 | $287,500 | 32 | 40 | $295,978 |
10/2008 | 37 | $270,000 | 50 | 0 | -n/a- |
11/2008 | 33 | $260,000 | 64 | 0 | -n/a- |
12/2008 | 33 | $311,000 | 70 | 38 | $283,000 |
1/2009 | 32 | $260,750 | 66 | 0 | -n/a- |
2/2009 | 43 | $234,900 | 61 | 0 | -n/a- |
3/2009 | 55 | $260,000 | 60 | 0 | -n/a- |
4/2009 | 35 | $260,370 | 78 | 0 | -n/a- |
Notes:
DOM: Median Days On Market
© iMapp, Inc, 2009 | Information is believed accurate but not guaranteed. Buyer to verify all information.
Sold Listings | |||
Month | Count | Median Price | DOM |
5/2008 | 43 | $285,000 | 54 |
6/2008 | 53 | $280,000 | 58 |
7/2008 | 58 | $274,950 | 53 |
8/2008 | 48 | $245,000 | 54 |
9/2008 | 31 | $287,500 | 32 |
10/2008 | 37 | $270,000 | 50 |
11/2008 | 33 | $260,000 | 64 |
12/2008 | 33 | $311,000 | 70 |
1/2009 | 32 | $260,750 | 66 |
2/2009 | 43 | $234,900 | 61 |
3/2009 | 55 | $260,000 | 60 |
4/2009 | 35 | $260,370 | 78 |
Notes:
DOM: Median Days On Market
© iMapp, Inc, 2009 | Information is believed accurate but not guaranteed. Buyer to verify all information.