GREAT NEWS IN THE HOUSING MARKET! The number of Valley residential home sales for March 2009 was the greatest since October 2005, or for the past 41 months! As of mid-April, the available supply of single-family homes had another 4% drop. Closings continued their upward trend to bring our overall supply of single-family homes (not including patio, townhomes or condos) to just 4.5 months. Traditionally, a housing market is considered “normal” when there is a 6-month supply of homes. When there is less than a 6-month supply, the market generally tilts towards a “seller’s market.” Where there is more than a 6-month supply, it’s considered a “buyer’s market.” Homes priced under $300,000 are selling with an estimated 1 to 7 month supply. That’s a seller’s market! The $300,000 to $500,000 market continues to show improvement and has decreased and is selling with an 8 to 15 month supply (the higher the price of the home, the higher months of supply). While that is still considered a buyer’s market, it shows an overall trend that homes are selling and our inventory is decreasing. If you are planning to buy and haven’t yet, your time may not be any better than it is NOW. The number of home sales is expected to continue to rise because: • Affordability goes up when values go down • Of the first-time home buyer tax credit of $8,000 • Historically low interest rates There is an increase in people looking for homes in our area. There are some amazing deals in homes right now: short sales, foreclosures and homes that are simply priced great. Call me today to learn about excellent values in our area or for information and guidance on selling your property! MY SPECIAL OFFER! Get a Free Presentation on my Home Marketing program. Before signing a contract with any Realtor, make sure you know exactly how your home will be marketed. If you’re planning to sell your home in the next few months, this FREE service is designed to help establish your home’s current market value.
Kent Gibson
Keller Williams Integrity First Realty
Direct: 480.236.9111 Email: kgibson@kw.com www.deserthomegroup.com Each office is independently owned and operated.
If your home is currently listed, this is not a solicitation for that listing.
June 2009
A SAMPLING OF CURRENT REAL ESTATE ACTIVITY IN
Address CURRENTLY FOR SALE: 3800 S. Cantabria Cir. #1116 2353 W. Hemlock Ct. 1172 W. Honeysuckle Ln. 3800 S. Cantabria Cir. #1046 2032 W. Olive Way 3946 S. Greythorne Way 2304 W. Olive Way 3195 S. Laguna Dr. 1344 W. Rockrose Way 3112 S. Pennington Dr. 3261 S. Horizon Pl. 3621 S. Greythorne Way 3230 S. Ambrosia Dr. 3320 S. Ambrosia Dr. 1152 W. Island Dr. 1320 W. Island Cir. 1355 W. Island Cir. 1310 W. Island Cir. 3800 S. Clubhouse Dr. #5 SALE PENDING: 3800 S. Cantabria Cir. #1082 3784 S. Ivy Ct. 2172 W. Redwood Dr. 1233 W. Lantana Dr. 3081 S. Pennington Dr. 3800 S. Cantabria Cir. #1065 1565 W. Aster Ct. 1535 W. Honeysuckle Ln. 3235 S. Laguna Dr. 3245 S. Laguna Dr. 2001 W. Hemlock Way 1271 W. Marina Dr.
Sq. Ft. / Bed / Bath
List Price
1764 / 2 Bed / 2 Bath 1776 / 4 Bed / 2 Bath 2634 / 3 Bed / 2.5 Bath 1120 / 2 Bed / 2 Bath 1317 / 2 Bed / 2 Bath 2137 / 3 Bed / 2.5 Bath 2602 / 3 Bed / 3 Bath 2645 / 4 Bed / 3 Bath 2450 / 4 Bed / 2 Bath 2871 / 4 Bed / 3 Bath 1988 / 3 Bed / 2 Bath 3060 / 4 Bed / 2.5 Bath 3126 / 5 Bed / 2.5 Bath 2484 / 4 Bed / 2.5 Bath 3732 / 5 Bed / 3.5 Bath 3898 / 5 Bed / 5 Bath 7587 / 6 Bed / 6.5 Bath 6056 / 3 Bed / 3.5 Bath 9668 / 5 Bed / 7 Bath
$239,000 $244,634 $269,900 $275,000 $319,000 $325,000 $349,000 $350,000 $379,900 $399,000 $399,000 $430,000 $439,000 $549,990 $699,900 $950,000 $1,690,000 $1,700,000 $3,474,900
NA / 1 Bed / 2 Bath 2277 / 4 Bed / 2.5 Bath 1757 / 3 Bed / 2 Bath 1929 / 3 Bed / 2 Bath 2345 / 4 Bed / 2 Bath 1764 / 2 Bed / 2 Bath 3494 / 5 Bed / 3 Bath 2484 / 4 Bed / 2 Bath 2591 / 4 Bed / 3 Bath 2726 / 4 Bed / 3 Bath 3130 / 3 Bed / 2.5 Bath 3642 / 3 Bed / 2.5 Bath
$202,000 $234,900 $240,000 $269,900 $275,000 $290,000 $315,000 $369,000 $389,000 $399,000 $575,000 $999,000
SOLD: 2264 W. Olive Way 2146 / 5 Bed / 2 Bath 2038 W. Olive Way 1610 / 3 Bed / 2 Bath 3633 S. Sage Ct. 1603 / 3 Bed / 2 Bath 3241 S. Horizon Pl. 2634 / 3 Bed / 2.5 Bath 3760 S. Acacia Dr. 2187 / 3 Bed / 3 Bath 1263 W. Lantana Dr. 2116 / 4 Bed / 2 Bath 1402 W. Indigo Dr. 2221 / 3 Bed / 2 Bath 1171 W. Island Dr. 4201 / 5 Bed / 3 Bath
Close of Escrow 3/27/2009 4/15/2009 4/22/2009 4/14/2009 4/09/2009 3/25/2009 4/22/2009 4/27/2009
Sold Price $225,000 $235,000 $264,000 $270,000 $272,000 $321,500 $350,000 $572,000
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
In Celebration of Ice Cream A Summertime Ritual
Selling Your Home
Do You Have A Plan In Place?
A Chef Inspired Gourmet Treat
Meritage Steakhouse’s Blueberry Sour Cream Ice Cream
Ocotillo’s
Hot Real Estate Listings