PERE
HomeSweetHome I have established a wide network of colleagues and clients in the Phoenix/Paradise Valley, Arizona area where I live and practice full time. As a professional in the luxury home market, I can provide a complimentary consultation regarding your property. Give me a call and we can discuss your options.
Explore the Opportunities!
A Second Wind for Metro Phoenix After a bumpy 2014, this February saw the Metro Phoenix real estate recovery get a second wind, making significant progress in the first half of 2015. The market surge is being driven by ordinary owner-occupiers, while investors and second home buyers take the back seat. There has also been some increase in upward price momentum. As of July 2015 the annual numbers were as follows (compared with July 2014):
Vol. 2 Issue 9
From Runway to Living Room
Fall Fashion Trends
• The annual average price per sq. ft. rose by 5% from $125.38 to $131.02 • The annual average sales price increased 5% from $244,827 to $257,175 • The annual median sales price gained 7% from $187,000 to $200,000 These are tame compared with the 2012 and 2013 increases in home prices, but are far in excess of inflation which stayed between -0.2% and 2.0% throughout the last year.
Associate Broker, JD 602.733.2396 Direct Debbie.Perelman@russlyon.com
DebbiePerelman.com
Many families who lost their homes through foreclosure in 2008 are becoming eligible for conventional loans in 2015. A push from FHA to increase the affordability of mortgages to those with good but not great credit is stimulating an increase in demand for FHA loans in 2015 over 2014. Unemployment is declining and job growth improving although this is tempered by relatively slow growth in average earnings. These trends are gradually shifting demand away from renting and towards home ownership. The Millennial generation is also expected to increase its rate of home buying. The Greater Phoenix housing market is healthier now than at any time since 2005 with a clear advantage for sellers over buyers in most areas. The highest demand areas tend to be closer to employment opportunities and retail centers while demand is always weaker in outlying areas. However the recovery wave has now spread fully to the outlying rural areas and there are no longer any pockets with an unhealthy excess inventory. The remainder of 2015 is likely to see upward price movement well in excess of inflation and higher than we saw during 2014. This second wind of recovery should sail us nicely into a stronger 2016. By Michael Orr | Director of Real Estate Studies at ASU & Principal of The Cromford Report
If your home is currently listed, this is not a solicitation for that listing.
Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Stair Master Space Savers
Real Estate Union Barrelhouse’s Market Report Southern Cross Float
Tour History at Heritage Square
Presented By Debbie Perelman 602.733.2396 Debbie.Perelman@russlyon.com