Home Values Stabilizing
2009 turned out to be the third best year on record for overall sales in Metro Phoenix! Approximately 93,000 properties closed escrow, resulting in a 55% increase over 2008 (with just over 60,000 escrows). The increase in sales volume has been coupled with a stabilization and improvement in pricing. Home values hit a bottom-low in April of 2009 but have rallied strongly with a year-end 14.8% increase. According to The Cromford Report, a local real estate research firm, lender-owned sales hit their price bottom in late April 2009 and have been rising since; non-distressed “normal” sales hit their price bottom in mid-November 2009; and short sale prices are expected to have hit bottom in late 2009 or early 2010. While the overall housing market is recovering nicely, the luxury market (often defined as $500K+) is lagging. However, there are signs of improvement. The Scottsdale $1M+ market now shows about a 24-month supply, down from a 60-month supply about this time last year. Did you know that in 2009, fully 36% of Valley Realtors did not have a single closed transaction? There are many licensed agents working on a part-time or “hobby” basis. Be sure to work with a full-time professional dedicated to real estate… I will be honored to be that person for you!
Arizona Homeowner March / 2010
We Close Short Sales! NEED OUR HELP? COUNT ON MY TEAM TO SELL YOUR HOME TOO!
SAVED FROM FORECLOSURE!
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About Wendy...
She is a full-time Realtor who pours her heart and soul into serving her clients’ best interest. Whether it be listing and selling your home for the best price in the shortest amount of time possible or finding the perfect home to suit your needs, she is tireless in her efforts. When she is not working with clients she spends time furthering her real estate education. In 2009 she completed courses to become an “Accredited Buyer’s Representative,” a “Certified Distressed Property Expert,” a “Certified Negotiation Expert,” a “Short Sale and Foreclosure Resource,” and other additional courses. Not a day goes by that she is not learning something new.
GRAYHAWK
2659 Sq. Ft. | 3 | 3.5 • $395,000
ANOTHER SUCCESSFUL SHORT SALE
2010 is the year of the short sale
Bank-owned homes are accounting for less and less of the sales in the Valley, while Short Sales are occurring much more frequently. It appears that banks are streamlining their systems and what was once a frustrating and often unsuccessful process is now more conducive to Short Sales. Real estate analysts predict that Short Sale transactions will dominate our market.
SONORAN HEIGHTS
2897 Sq. Ft. | 3 | 2.5 • $430,000
UNDER CONTRACT – PENDING LENDER APPROVAL
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WENDY KIRTLAND RE/MAX Fine Properties 21000 N. Pima Rd., Suite 100 Scottsdale, AZ 85255 eFax: 480.355.9514 WKirtland@FineProp.com
If your home is currently listed, this is not a solicitation for that listing.
VENTANA LAKES
1734 Sq. Ft. | 3 | 2 • $194,000
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