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Palm Valley neighborhood is HOT!

Palm Valley neighborhood is HOT!

The Phoenix market is heating up. Overall inventory is shrinking and demand is going up. The average days on the market for metro Phoenix in May was 81. Some neighborhoods are selling faster than others though. Let’s take a look at some southwest valley neighborhoods in Goodyear and Buckeye to see who is hot and who is not.

Palm Valley – HOT! – current days on the market 67, current months of supply 3.17

Estrella – HEATING UP! – current days on the market 101, current months of supply 2.36

Verrado – NOT! current days on the market 121, current months of supply 5.76

If you would like more information on your Phoenix neighborhood. Please contact me at amy@amyhayslett.com

All numbers are from the Arizona Multiple Listing Service (ARMLS)

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Posted by on June 15, 2015 in Uncategorized

 

Arrowhead Ranch – Hot markets in Phoenix Reale Estate

The weather is heating up and so is the real estate market in many Phoenix neighborhoods.The area around Arrowhead Ranch, including neighbhorhoods like Fletcher Heights are currently some of the hottest markets. Many of the homes in this area are selling within a matter of days and often times with multiple offers. Let’s take a look at some of the numbers for the 85308 zip code which includes Glendale homes in the Arrowhead Ranch and surrounding area. The median price has risen 8% from $225,000 to $251,500. Meanwhile the days on market is averaging in the mid 50s down from around 80 days at the beginiing of the year. Closings for the 85308 zip code are also up from 59 in January to 126 for May. It will be interesting to see the numbers for June as much of the activity over the last 60 days may be reflected in the June numbers. If you would like to know howthe market is doing in  your Buckeye, Goodyear, Glendale, Surprise or other area neighborhood please contact me at amy@amyhaylsett.com

Stay tuned for updates on Palm Valley, Estrella, and Verrado.

 
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Posted by on June 9, 2015 in Uncategorized

 

5 Things Not to Post on Facebook when Selling your Buckeye, Goodyear area home

Facebook and social media can be a fun and even effective way to get the word out about your Buckeye, Goodyear area home. For example, I once had a client who used her social network to help a YouTube video that I made of her Verrado home get well over 200 views in about a 2 week time frame.

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In today’s internet connected world buyers may be watching you. If you are not careful you might share too much information and that can hurt the sale of your home. Here are 5 things not to post or do on Facebook.

1) Be careful about posting about why you are selling your home both before and while the home is listed. You may be excited about your new job transfer out of state and want to share it with friends or you may be looking for advice with your pending divorce but you don’t want the buyers to be aware of these kinds of situations. This kind of information can give the buyer insight as to how motivated you are to sell and can help them during negotiations.

2) Don’t discuss how many showings you have had and definitely don’t vent any frustrations that you have about how the marketing of your home is going. If the home is not being shown enough a potential buyer may feel that your home is overpriced and venting may lead them to think that you are willing to negotiate more to get the home sold or it may even make them think you might be difficult to deal with.

3) If you have already purchased another home or are actively looking for another one don’t share the details online. If a potential buyer knows that you might have two mortgages they may be more likely to send you a low ball offer.

4) Don’t talk about the negotiation process once you have the offer. Remember the buyer may be watching you online. This can be a very emotional time and you may want to vent but you don’t want to offend the buyer and you don’t want to give away any valuable information during critical negotiations.

5) Don’t friend your buyer on facebook or make direct contact with them on social media networks. Again, this is a very emotional time frame. There is a reason why you want to let the Realtors do the negotiating and one of these is to take the emotion out of the process. I have seen where buyers get in touch with sellers to buy furniture. I have also seen cases when a sale of a couch has gotten in the way of a sale of the home. If you are selling items online and the buyer talks to you directly discuss anything talk with your Realtor before replying.

 
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Posted by on June 3, 2015 in Uncategorized

 

Verrado August 2012 Closings

16 homes closed escrow in August as reported by the Multiple Listing Service as of this morning. Of those sixteen, 3 were distressed properties. The price per square foot average remained steady at $98 over the same number last month. Last year in August ten of the sixteen closings were distressed properties and the overall average per square foot price was only $82. Per square foot pricing is up almost 20% from last year in Verrado. The mean price in Verrado dropped significantly to $242,500 from the prior month but it is up from $174,000 from last year. With so few closings per month we should see wide fluctuations in the mean price on month to month comparisons. The market steady in these usually slower hot months when we tend to see prices softening. As we head into the cooler season it will be interesting to see where prices head, especially as the builder inventory of existing lots diminishes and as builders raise prices. If you are thinking about buying you may want to take advantage of the current low interest rates and pricing. If you are thinking about selling prices have not been stronger in many years. Call Amy at 623-910-1733 if you think you might want to buy or sell in Verrado or the west valley.

 

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Verrado July 2012 Closings

Verrado July 2012 Closings

Only 14 homes closed escrow via the Multiple Listing Service in July. That is one of the lowest levels in quite sometime and down from 28 closings in June. July was the first month in several years that did not see a single distressed property close escrow. Six of the homes that closed were traditional resales and 8 were new build homes. The price per square foot average dropped by 1% to $98 down from $99 the prior month. Meanwhile the mean price  came in at $304,592, a 12% increase over last month. Traditionally the summer months are slower pushing prices lower. While the number of closings did drop significantly , the per square foot pricing remained steady and the mean pricing increased significantly. If you are thinking about purchasing a home the summer months are often a good time as there is less competition from out of state buyers. As of this post there are 51 Active listings which is one of the highest seen over the last year. Inventories could fall heading into the cooler months forcing pricing up even more. Contact me at ahayslett@verradorealty.com or 623-910-1733 if you wish to buy or sell in Verrado or the west valley.

 

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Verrado Active Listings

Verrado Active Listings

Snapshot of Verrado Market – July 17, 2012 – 42 listings on the market today. That is up from 39 listings on June 16th. Current listings are broken down as follows 2 short sales, 3 bank owned, 22 traditional resales, 15 new homes, many of which are not started. Today there are 32 Pending Sales. One of the interesting things to note is that bank owned homes are listed at per square foot prices similar or higher than traditional resales and new builds (see earlier post at http://wp.me/p27Q4g-9q )

With continued low inventory, less competition from bank owned and short sales, and upward pricing now might be the time to put your home on the market. Contact me for a listing appointment at 623-910-1733 or at ahayslett@verradorealty.com

 

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Bank owned properties or new builds – Where are the deals?

Bank owned homes often sell at a discount due to many factors including condition of the home, lack of warranties, not to mention the extra hassle one might have to go through in the process. I often get clients asking to see the “Foreclosed Deals”. Recently I showed a prospective buyer the listings below. These compose of builder inventory and lender owned properties in the Verrado neighborhood.

The lender owned properties have the following per square foot pricing:

Listing  #2 $136.21, listing #6 $97.9, and listing #7 $108.1

The new build inventory homes have the following per square foot prices:

#1 $96.8, #3 $104.8, #4 $129.2, #5 $116.3

So as of recently the Bank Owned homes are not coming in at a discount compared to new build inventory homes and in some cases they are coming in at even higher per square foot prices than new build inventory homes. So what would you buy the a new home with a warranty or a lender owned home “AS IS”?

 

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