Real estate meeting this evening at the Aviano community center at 6:30 PM.
Observations from Michael Orr at the Cromford Report:
"April 2 - To illustrate how the number of REOs in the market has changed so dramatically, let's look at a few ZIP codes that used to be inundated with lender owned properties:
Phoenix 85009 had 192 single family active REOs for sale on January 1, 2009.
On April 1, 2013 it had 3.
Phoenix 85017 had 198 single family active REOs for sale on January 1, 2009.
On April 1, 2013 it had 1.
Phoenix 85033 had 461 single family active REOs for sale on January 1, 2009.
On April 1, 2013 it had 1.
Phoenix 85035 had 282 single family active REOs for sale on January 1, 2009.
On April 1, 2013 it had 2.
Phoenix 85037 had 546 single family active REOs for sale on January 1, 2009.
On April 1, 2013 it had 4.
So where there were once 1,679 available lender owned properties to buy, we now have fewer than a dozen.
April 1 - With $1,812 million in sales through ARMLS in March 2013 we have just recorded the largest revenue in a single month since June 2007. This is 13% more than March 2012 despite there being fewer unit sales."
Back to Doug - Prices are going up. And they are not coming back down. Buyers need to buy now. Sellers should explore selling before every Tom, Dick and Harry in your neighborhood puts their home on the market. While this will slow price appreciation to a degree, the horse has left the barn.
Aviano and Villages MLS activity:
The normal sale Strada model with the extra garage bay at 3733 East Robin Lane is for sale listed at $624,900. Built in 2006 on a cul de sac with 3339 sq ft, 4/2.5/pool and 3 car garage. Public remarks from the listing: "Tuscan Style home with tons of Upgrades. N/S exposure. Cul-de-sac lot with located in the heart of Aviano/Desert Ridge. n4 Bedrooms plus den/office on a lg lot with pebble tec pool with water feature next to grassy area. Extended Kitchen granite counters to accent beautiful stone wall fireplace in the family great room with slat stone on the main floor." Let me know if you would like to see it.
Courtesy Century 21 Arizona Foothills
The normal sale San Mateo at 3958 East Hashknife Road reduced asking price to $640K. 3585 sq ft with 4/3.5 and a 3 car garage.
The normal sale Borrego model at 21918 North 36th Way is now under contract. Last priced at $610K, it has 3430 sq ft, 4/3.5/pool and split 3 car garage.
And in the Villages at Aviano, a new listing for a normal sale Viera model priced at $319,900. Unit 1076 is in building 6 and has 1940 sq ft, 2/2 and a 2 car garage - a total of 3 levels so no one on top. Public remarks from the listing: "Exquisite Viera model located in desirable gated community of Villages at Aviano * Large South facing balcony overlooking lush common area * Home has new interior paint * All flooring was recently replaced & upgraded * Stunning kitchen with granite counters, newer stainless steel appliances & quality cabinetry * Spacious master bedroom includes master bath with double sinks & master walk-in closet with organizers * Secondary bedroom with guest bath on main living level as well * Large open loft overlooking main level with upgraded wood laminate floors - great for guests or office * This home has been meticulously maintained for peace of mind of new buyer * Villages residents enjoy amenities of main clubhouse, workout facility, large heated pool/spa plus lap pool, acres of parks & walking/biking paths plus Villages has its own private pool & BBQ area * The amenities are one of the best values in the area! Close to Hwy 51 and 101 and only 25-30 minutes to Skyharbor airport." Please let me know if you would like to see this home.
Courtesy Solutions Real Estate