THE GOOD NEWS KEEPS ON COMING!
Last month’s newsletter touted some excellent news in the housing market. Sales are up and inventory levels are down. Since the publication of last month’s issue, I am thrilled to report that we have seen further improvements in all sectors of our market! Check this out: The inventory level of single-family detached homes (not including condos/townhomes, etc) in the Valley recently had another 2% drop bringing the number of homes for sale to 27,357. Closings remained steady with 9007 sales in the last month to leave our overall supply at just 3 months. The Scottsdale under $1 million market continues its improvement trend and has moved to a 6 1/4 month supply. It should hit a 6 month level, if not lower, by the time you are reading this. Phoenix and the West Valley are at 2 1/4 months of supply. The Southeast Valley is at a 2 3/4 months supply of homes. Remember, traditionally a housing market is said to be a “normal” market when there is a 6 month supply of homes. Anything larger than that is considered a “buyer’s market” and anything smaller than that typically is a “seller’s market.” Can you believe that the Valley is beginning to experience a seller’s market in some areas and some price points? That is the beginning of the recovery that we’re all looking forward to! The luxury market of homes over $1 million is taking longer to recover. However, it is finally starting to improve. The Scottsdale over $1 million market is just under a 2 1/2 year supply and Paradise Valley is just under 3 years. While that is still certainly a buyer’s market, keep in mind that those numbers were double what they are now just three months ago! Call me today to learn about excellent values in our area or for information and guidance on selling your property!
July 2009
FEATURED PROPERTIES:
9114 N. Summer Hill Blvd. • Eagle Mountain • 2998 Sq. Ft. / 3 Bed / 3 Bath • $899,000 Eagle Mountain beauty! Unbelievable views of both mountains and city lights. The home sits on the 12th hole of gated Eagle Mountain golf course. Three bedrooms, three baths, three-car garage, den, heated pool and spa, attention to detail in every room. This custom home has every amenity. The heated pool and spa overlook the lush desert and golf course yet offers complete privacy. Granite countertops throughout home, Italian tile wainscot in powder bath. Each bedroom has access to its own bath. Custom pull-out shelving in all the cherry-stained cabinets. Large, open and bright great room with 12’ ceilings and stoned veneer fireplace. Gourmet kitchen boasts Viking appliances and a large pantry. MUST SEE THIS HOME! BEAUTIFUL! SALE PENDING
It’s Cool to be Hot Resort “Staycations” Rock!
9918 N. Palisades Blvd. • FireRock • 5050 Sq. Ft. / 6 Bed / 6 Bath • $1,699,000
A SAMPLING OF REAL ESTATE ACTIVITY IN
DEBORAH E. LUBY Tuttle Designer Homes Registry Cell: 602.620.1448 • Fax: 480.275.4108 dluby@cox.net • www.DeborahLuby.com If your home is currently listed, this is not a solicitation for that listing.
Address Sq. Ft. / Bed / Bath List Price CURRENTLY FOR SALE: 14927 E. Desert Willow Dr. #6 1,871 / 3 / 2 $449,500 9239 N. Summer Hill Blvd. 1,861 / 2 / 2.5 $489,000 14736 E. Lookout Ledge 2,310 / 3 / 2 $600,000 15156 E. Twilight View Dr. 2,774 / 4 / 2.5 $650,000 9211 N. Crown Ridge 1,898 / 3 / 1.75 $695,000 9224 N. Sunset Ridge Dr. 3,482 / 4 / 3 $725,000 14744 E. Miramonte Way 3,104 / 4 / 2.5 $749,900 9814 N. Talon Trl. 3,577 / 3 / 2.5 $874,900 15003 E. Twilight View Dr. 3,718 / 5 / 3.5 $900,000 9114 N. Summer Hill Blvd. 2,998 / 3 / 3 $975,000 9334 N. Aerie Cliff Dr. 3,594 / 4 / 3 $975,000 14816 E. Sandstone Ct. 3,008 / 3 / 4 $1,290,000 9245 N. Crimson Canyon Dr. 7,371 / 5 / 5 $1,395,000 9612 N. Solitude Canyon 6,824 / 4 / 5 $1,595,000 15136 E. Mira Vista Dr. 6,700 / 5 / 5.5 $1,696,000 15115 E. Miravista 5,600 / 4 / 5.5 $1,799,000 15036 E. Miravista 6,137 / 5 / 4.5 $2,350,000 UNDER CONTRACT 9824 N. Azure Ct. #8 1,764 / 2 / 2 $365,000 15123 E. Desert Willow Dr. 1,627 / 2 / 2 $425,900 15116 E. Vermillion Dr. 2,799 / 4 / 3 $450,000 9414 N. Indigo Hill Dr. 2,773 / 3 / 3 $799,000 9415 N. Solitude Canyon 4,002 / 5 / 4.5 $999,900 9404 N. Aerie 6,359 / 4 / 6 $1,699,777 9714 N. Jagged Cir. 6,376 / 5 / 6.5 $2,500,000 SOLD SOLD PRICE 9725 N. Azure Ct. 1,871 / 2 / 2 $300,000 All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
Produced by Desert Lifestyle Publishing • 480.460.0996
Relief for Homebuyers: Government Programs Offer Assistance Muddle it Up!: deseo’s Refreshing Summer Cocktail Eagle Mountain’s Hot Real Estate Listings