the Source
FOR AVIANO REAL ESTATE Aviano Sales Recap for 2012 Number of Sales in 2012................. 55 List Volume.......................$29,532,400 Sold Volume.................... $29,171,663 List Price..................... $370,000 Low $536,953 Avg $795,000 High
Aviano inventory is low, low, low and buyer demand is high. There are just eleven homes currently for sale in all of Aviano, and six of them have contracts pending. Home prices have been steadily rising and are now at excellent levels. It is finally a seller’s market. If you’ve even considered selling, don’t list with anyone else until you’ve spoken with The Bruno Group. Our team lists and sells homes in Aviano at the highest prices. That means listing with another agent might leave money on the table – with us, we work hard to keep sales prices up and put more money in your pocket.
Sold Price.................. $369,000 Low $530,394 Avg $750,000 High Sale/List Price Ratio...........86% Low 99% Avg 1.11% High Approx. Sq. Ft................. 2,417 Low 3,708 Avg 5,714 High
List Price Per Approx. Sq. Ft.................. $121 Low $146 Avg $184 High Sold Price Per Approx. Sq. Ft............ $109 Low $144 Avg $177 High Days On Market.................... 0 Low 82 Avg 408 High
Statistics gathered from ARMLS. All information deemed reliable but not guaranteed. (Single-Family Residences)
HOW DO SALES IN AVIANO COMPARE TO OTHER NEARBY COMMUNITIES?
2012 Sales Statistics By Community
Community
Average Sales Price
Days On Market
List/Sell Price Ratio
# Closed
Aviano...........................................$530,394.................. 82................... 99%.......................... 55 Bellasera........................................$511,496.................. 76................... 97%.......................... 29 DC Ranch...................................$1,007,616................. 141.................. 95%......................... 118 Desert Ridge..................................$375,224.................. 68................... 99%......................... 269
Call today for a detailed analysis of your home’s value, current market conditions and our strategy for your home’s sale. We look forward to hearing from you!
Paul Bruno
Mobile: 602.369.0988 Paul@PaulBrunoGroup.com www.TheBrunoGroup.com
Eagle Mountain.............................$528,672................. 115.................. 97%.......................... 30 Gainey Ranch...............................$794,150................. 220.................. 92%.......................... 30 Grayhawk.....................................$572,259.................. 82................... 96%......................... 133 Hidden Hills...................................$617,407................. 126.................. 96%.......................... 28 Ironwood Village..........................$355,185.................. 85................... 97%.......................... 32 Legend Trail...................................$567,455................. 128.................. 96%.......................... 60 McCormick Ranch.......................$421,856.................. 82................... 97%.......................... 63 McDowell Mountain Ranch.........$513,130.................. 73................... 97%......................... 205 Scottsdale Mountain....................$607,771................. 141.................. 96%.......................... 52 Scottsdale Ranch.........................$544,665................. 109.................. 95%.......................... 95 Stonegate......................................$521,957.................. 95................... 97%.......................... 63 Terravita.........................................$458,572................. 147.................. 96%......................... 103 Statistics gathered from ARMLS. All information deemed reliable but not guaranteed. (Single-Family Residences)
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
nted by
se Proudly Pre
UP O R G O N U R B THE r Aviano Specialists You
R E S I D E N T I A L R E A L E S TAT E
G E N E R A L E C O N O M I C S NA P S H OT IN THE NATIONAL SPOTLIGHT As we’ve turned the page on another year, the national economy continues its modest recovery. Optimism tinged with uncertainty seem to be the prevailing sentiments. Although the worst effects of the “fiscal cliff” have been averted, there is still a wait-and-see attitude among consumers and employers regarding taxation and federal spending policies. Corporations are flush with cash, but are wary to spend on hiring or other business expenditures until further clarity on the economy’s path is available. However, once Corporate America gains confidence, the trillions of dollars and record profits they’re sitting on can be injected into the marketplace through employment, manufacturing, and other business investment. There is a direct correlation between an increase in consumer confidence and an increase in the GDP. When consumers are comfortable and confident, they spend money, paving the way for business expansion. For consumers to feel confident in 2013, there needs to be a continued improvement in the financial markets and home values, along with a progressive lowering of the unemployment rate coupled with average wage increases. The GDP is expected to grow at approximately 2% in 2013, about the same as last year. Our financial markets enjoyed a robust 2012 with the S&P 500 finishing with just under a 12% growth. While the recently enacted tax law changes may dampen some of the enthusiasm in investing for some, many market forecasters are projecting a 6%-12% growth for the S&P 500 this year. The bright spot in the economy in 2012 was the housing market, as low mortgage rates and affordable home prices nationwide kept homes selling at a brisk pace. Fortunately that trend is expected to continue in 2013. In fact, some areas are experiencing such a housing shortage that the construction industry is struggling to meet demand. That is especially true in our Arizona market (see the Residential Real Estate article.) Kiplinger.com forecasts a moderate, but steady job growth through 2013 with a projected annual total of an added two million jobs by year end. Similarly, the unemployment rate is projected to drift down to about 7.5% vs. 7.8% at the end of 2012. Most economists are expecting an overall improvement in our nation’s economic
health in 2013. Wayne Stutzer, Senior Vice President and Financial Consultant for RBC Wealth Management, explains the cyclical nature of the economy. “The top of the market was in 2006. Today, 2013 is the seventh year of the typical seven-year economic cycle. We’re almost out of the woods.” The wild card may be how the new tax laws impact the economy as the high-income earners targeted with tax increases also account for half of our nation’s consumer spending. We are expecting slow but encouraging progress in all of these areas in 2013. Stutzer continues, “If things go well, then 2013 will be remembered as the economic year that set the stage for much better years to come.” ARIZONA HEATS UP Along with Nevada, Arizona was ground zero for the housing meltdown, plagued by high foreclosures and high unemployment during 2006-2010. However, Arizona staged a strong economic comeback in 2012, boasting the best housing market in the nation. “As of September 2012, Arizona ranked fifth among states for job growth, and the Metro Phoenix area was fourth among large metropolitan areas,” says Lee McPheters, Research Professor and Director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business. This is an extraordinary improvement from Arizona’s low point in 2009 when Arizona fell from an enviable job growth ranking of second in 2006, to a dismal 49th of the 50 states in 2009. “Arizona is expected to add 60,000 jobs in 2013. We should finally dip below 8% unemployment in 2013 – down to 7.6%.” Arizona’s economic growth has historically been stoked by encouraging businesses and people to move here. Arizona offers a desirable climate, affordable housing, and a growing business environment with reasonable state tax rates. Arizona stands to benefit from California’s recently enacted Proposition 30 which raises an already high state sales tax even higher, while significantly raising income taxes on individuals making $250,000 or more. The Greater Phoenix Economic Council has doubled their efforts to attract California businesses and their employees to Arizona. These new California tax law changes are expected to significantly increase population flows to Arizona’s advantage. Elliott D. Pollack, CEO of local economic consulting firm Elliott D. Pollack and Company, notes the importance of migration
2013 ECONOMIC FORECASTS GDP GROWTH 2% growth in ’13, about the same as last year ... INTEREST RATES Little or no increase in short-term rates in ‘13 ... BUSINESS SPENDING About a 4% gain in ’13, half of ‘12’s pace ... HOUSING SALES Up 8%, helping GDP in ’13 ... TRADE DEFICIT Widening by 2% in ’13, after a slight dip in ’12 ... UNEMPLOYMENT Heading to about 7.5% by the end of ‘13 ... INFLATION Slightly higher this year, 2.3% ... ENERGY Oil trading at $90-$95/barrel through early spring ... RETAIL SALES 5% growth in ’13 after strong holiday sales
The recovery in the Metro Phoenix housing market started quite gently in September 2011 but gradually grew in strength, and by the spring of 2012 it was running at top speed. The immediately obvious impact was a strong rise in pricing, in fact a greater percentage rise than any other metropolitan area in the USA. A look back at 2012 compared with 2011 shows us that: • The annual average price per sq. ft. rose by over 20% from $81.59 to $98.24 • The annual average sales price increased 23% from $156,774 to $192,549 • The annual median sales price jumped 27% from $110,000 to $140,000 Inventory was low throughout 2012, causing intense competition among buyers. This was particularly true at the lower end of the market. Buyers with cash held a substantial advantage, since they could impress sellers with the fact that their offer did not depend on obtaining approval for a loan or a satisfactory appraisal. For the higher price ranges, supply and demand were more balanced, but prices increased in most areas as confidence returned to the market. Sales volumes were lower in 2012 than 2011, but this was largely due to a shortage of affordable homes to buy, not because of lack of demand. At the start of 2011, nearly half of homes purchased were lender-owned foreclosures, but by the end of 2012 these had dropped to less than 13% of sales. Meanwhile normal sales grew from just 29% of sales in January 2011 to 61% in December 2012. Short sales took over from foreclosures as the preferred means of resolving
home loan delinquency. They constituted 21% of sales at the beginning of 2011, and 26% by the end of 2012. Delinquent home loans were running as high as 16.3% in Arizona as recently as February 2010. By October 2012 this had dropped to 7.7%, according to reports by Lender Processing Services. This improvement is the largest of any state in the nation. Arizona’s non-judicial foreclosure process has allowed it to eliminate delinquent loans at a much faster pace than states with a judicial process. This is bad news for the borrowers involved, but good news for the market since we no longer have the impending threat of significant distressed inventory coming onto the market. Many families who lost their homes through foreclosure and short sales in 2008 and 2009 are now planning to stop renting and get back into home ownership. This will add to the 2013 demand for homes to own, rather than to rent. Investors have been a very significant part of the demand since early 2009 and this did not change in 2012. What did change is that more properties were purchased by large multi-national investors instead of smaller local players. Now that pricing has responded to the excess demand over supply, we expect demand from the large investors to slowly dissipate in 2013. The new home market has sprung back to life after a prolonged hibernation between 2008 and 2011. In 2012, demand for new homes outpaced developers’ ability to build them. A shortage of skilled construction workers and limited finished lots in builders’ ownership meant that the growth in new sales was somewhat stifled. Nevertheless we saw new home sales grow by 49% between 2011 and 2012 despite significant
increases in prices. Developers are now buying up new land and finished lots to set themselves up to supply more homes in 2013. With the expected increase in population though, this is not expected to be enough to meet the coming demand. Overall the Metro Phoenix housing market is in a stronger position now than it has been since late 2005. Many themes from 2012 will probably continue into 2013 as the market heads back to normal. Foreclosures and short sales are expected to decline. New home and normal re-sales are likely to increase, while low inventory will continue to be a key factor in causing prices to move higher. With no significant source of new supply, we don’t see inventory rising back to normal levels for a very long time. In the current market, homes are easy to sell but sometimes buying can be a challenge due to competition from other buyers. Even so, owning a home is financially much more attractive than renting because interest rates on home loans are unusually low and home prices are still cheap by historical standards, especially when compared with rental rates. With the inventory of homes for sale expected to stay low for some considerable time, buyers are likely to have their patience rewarded with continued strong appreciation. Most of those who bought homes in 2011 have already seen very strong growth in the value of their home, and by the time we reach 2015 we are likely to be saying the same about those who purchased homes between 2009 and 2013. Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business, and Principal of The Cromford Report.
MONTHLY AVERAGE SALES PRICE PER SQUARE FOOT Greater Phoenix - ARMLS Residential
Source: The Kiplinger Letter
to our state. “In the absence of the fiscal cliff, things should continue to improve over the next several years. By 2015, things should be normalized. As I like to say, we’re only one decent population-flow year away from the issue being resolved.” Metro Phoenix has risen from its housing meltdown with encouraging job growth led by a housing boom that has now caused a residential housing shortage. Homebuilders are steadily dusting off their equipment and building homes to meet demand. New home sales inject fresh life into the Arizona economy and tax base. The journey toward continued economic growth and prosperity for Arizona seems to once again be heading down the familiar path of building and selling homes to meet increasing demand.
By Michael Orr
ACT I V E L I S T I N G C O U N T S
SA L E S P E R M O N T H
Greater Phoenix - ARMLS Residential
Greater Phoenix - ARMLS Residential - Measured Monthly
R E S I D E N T I A L R E A L E S TAT E
G E N E R A L E C O N O M I C S NA P S H OT IN THE NATIONAL SPOTLIGHT As we’ve turned the page on another year, the national economy continues its modest recovery. Optimism tinged with uncertainty seem to be the prevailing sentiments. Although the worst effects of the “fiscal cliff” have been averted, there is still a wait-and-see attitude among consumers and employers regarding taxation and federal spending policies. Corporations are flush with cash, but are wary to spend on hiring or other business expenditures until further clarity on the economy’s path is available. However, once Corporate America gains confidence, the trillions of dollars and record profits they’re sitting on can be injected into the marketplace through employment, manufacturing, and other business investment. There is a direct correlation between an increase in consumer confidence and an increase in the GDP. When consumers are comfortable and confident, they spend money, paving the way for business expansion. For consumers to feel confident in 2013, there needs to be a continued improvement in the financial markets and home values, along with a progressive lowering of the unemployment rate coupled with average wage increases. The GDP is expected to grow at approximately 2% in 2013, about the same as last year. Our financial markets enjoyed a robust 2012 with the S&P 500 finishing with just under a 12% growth. While the recently enacted tax law changes may dampen some of the enthusiasm in investing for some, many market forecasters are projecting a 6%-12% growth for the S&P 500 this year. The bright spot in the economy in 2012 was the housing market, as low mortgage rates and affordable home prices nationwide kept homes selling at a brisk pace. Fortunately that trend is expected to continue in 2013. In fact, some areas are experiencing such a housing shortage that the construction industry is struggling to meet demand. That is especially true in our Arizona market (see the Residential Real Estate article.) Kiplinger.com forecasts a moderate, but steady job growth through 2013 with a projected annual total of an added two million jobs by year end. Similarly, the unemployment rate is projected to drift down to about 7.5% vs. 7.8% at the end of 2012. Most economists are expecting an overall improvement in our nation’s economic
health in 2013. Wayne Stutzer, Senior Vice President and Financial Consultant for RBC Wealth Management, explains the cyclical nature of the economy. “The top of the market was in 2006. Today, 2013 is the seventh year of the typical seven-year economic cycle. We’re almost out of the woods.” The wild card may be how the new tax laws impact the economy as the high-income earners targeted with tax increases also account for half of our nation’s consumer spending. We are expecting slow but encouraging progress in all of these areas in 2013. Stutzer continues, “If things go well, then 2013 will be remembered as the economic year that set the stage for much better years to come.” ARIZONA HEATS UP Along with Nevada, Arizona was ground zero for the housing meltdown, plagued by high foreclosures and high unemployment during 2006-2010. However, Arizona staged a strong economic comeback in 2012, boasting the best housing market in the nation. “As of September 2012, Arizona ranked fifth among states for job growth, and the Metro Phoenix area was fourth among large metropolitan areas,” says Lee McPheters, Research Professor and Director of the JPMorgan Chase Economic Outlook Center at the W.P. Carey School of Business. This is an extraordinary improvement from Arizona’s low point in 2009 when Arizona fell from an enviable job growth ranking of second in 2006, to a dismal 49th of the 50 states in 2009. “Arizona is expected to add 60,000 jobs in 2013. We should finally dip below 8% unemployment in 2013 – down to 7.6%.” Arizona’s economic growth has historically been stoked by encouraging businesses and people to move here. Arizona offers a desirable climate, affordable housing, and a growing business environment with reasonable state tax rates. Arizona stands to benefit from California’s recently enacted Proposition 30 which raises an already high state sales tax even higher, while significantly raising income taxes on individuals making $250,000 or more. The Greater Phoenix Economic Council has doubled their efforts to attract California businesses and their employees to Arizona. These new California tax law changes are expected to significantly increase population flows to Arizona’s advantage. Elliott D. Pollack, CEO of local economic consulting firm Elliott D. Pollack and Company, notes the importance of migration
2013 ECONOMIC FORECASTS GDP GROWTH 2% growth in ’13, about the same as last year ... INTEREST RATES Little or no increase in short-term rates in ‘13 ... BUSINESS SPENDING About a 4% gain in ’13, half of ‘12’s pace ... HOUSING SALES Up 8%, helping GDP in ’13 ... TRADE DEFICIT Widening by 2% in ’13, after a slight dip in ’12 ... UNEMPLOYMENT Heading to about 7.5% by the end of ‘13 ... INFLATION Slightly higher this year, 2.3% ... ENERGY Oil trading at $90-$95/barrel through early spring ... RETAIL SALES 5% growth in ’13 after strong holiday sales
The recovery in the Metro Phoenix housing market started quite gently in September 2011 but gradually grew in strength, and by the spring of 2012 it was running at top speed. The immediately obvious impact was a strong rise in pricing, in fact a greater percentage rise than any other metropolitan area in the USA. A look back at 2012 compared with 2011 shows us that: • The annual average price per sq. ft. rose by over 20% from $81.59 to $98.24 • The annual average sales price increased 23% from $156,774 to $192,549 • The annual median sales price jumped 27% from $110,000 to $140,000 Inventory was low throughout 2012, causing intense competition among buyers. This was particularly true at the lower end of the market. Buyers with cash held a substantial advantage, since they could impress sellers with the fact that their offer did not depend on obtaining approval for a loan or a satisfactory appraisal. For the higher price ranges, supply and demand were more balanced, but prices increased in most areas as confidence returned to the market. Sales volumes were lower in 2012 than 2011, but this was largely due to a shortage of affordable homes to buy, not because of lack of demand. At the start of 2011, nearly half of homes purchased were lender-owned foreclosures, but by the end of 2012 these had dropped to less than 13% of sales. Meanwhile normal sales grew from just 29% of sales in January 2011 to 61% in December 2012. Short sales took over from foreclosures as the preferred means of resolving
home loan delinquency. They constituted 21% of sales at the beginning of 2011, and 26% by the end of 2012. Delinquent home loans were running as high as 16.3% in Arizona as recently as February 2010. By October 2012 this had dropped to 7.7%, according to reports by Lender Processing Services. This improvement is the largest of any state in the nation. Arizona’s non-judicial foreclosure process has allowed it to eliminate delinquent loans at a much faster pace than states with a judicial process. This is bad news for the borrowers involved, but good news for the market since we no longer have the impending threat of significant distressed inventory coming onto the market. Many families who lost their homes through foreclosure and short sales in 2008 and 2009 are now planning to stop renting and get back into home ownership. This will add to the 2013 demand for homes to own, rather than to rent. Investors have been a very significant part of the demand since early 2009 and this did not change in 2012. What did change is that more properties were purchased by large multi-national investors instead of smaller local players. Now that pricing has responded to the excess demand over supply, we expect demand from the large investors to slowly dissipate in 2013. The new home market has sprung back to life after a prolonged hibernation between 2008 and 2011. In 2012, demand for new homes outpaced developers’ ability to build them. A shortage of skilled construction workers and limited finished lots in builders’ ownership meant that the growth in new sales was somewhat stifled. Nevertheless we saw new home sales grow by 49% between 2011 and 2012 despite significant
increases in prices. Developers are now buying up new land and finished lots to set themselves up to supply more homes in 2013. With the expected increase in population though, this is not expected to be enough to meet the coming demand. Overall the Metro Phoenix housing market is in a stronger position now than it has been since late 2005. Many themes from 2012 will probably continue into 2013 as the market heads back to normal. Foreclosures and short sales are expected to decline. New home and normal re-sales are likely to increase, while low inventory will continue to be a key factor in causing prices to move higher. With no significant source of new supply, we don’t see inventory rising back to normal levels for a very long time. In the current market, homes are easy to sell but sometimes buying can be a challenge due to competition from other buyers. Even so, owning a home is financially much more attractive than renting because interest rates on home loans are unusually low and home prices are still cheap by historical standards, especially when compared with rental rates. With the inventory of homes for sale expected to stay low for some considerable time, buyers are likely to have their patience rewarded with continued strong appreciation. Most of those who bought homes in 2011 have already seen very strong growth in the value of their home, and by the time we reach 2015 we are likely to be saying the same about those who purchased homes between 2009 and 2013. Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business, and Principal of The Cromford Report.
MONTHLY AVERAGE SALES PRICE PER SQUARE FOOT Greater Phoenix - ARMLS Residential
Source: The Kiplinger Letter
to our state. “In the absence of the fiscal cliff, things should continue to improve over the next several years. By 2015, things should be normalized. As I like to say, we’re only one decent population-flow year away from the issue being resolved.” Metro Phoenix has risen from its housing meltdown with encouraging job growth led by a housing boom that has now caused a residential housing shortage. Homebuilders are steadily dusting off their equipment and building homes to meet demand. New home sales inject fresh life into the Arizona economy and tax base. The journey toward continued economic growth and prosperity for Arizona seems to once again be heading down the familiar path of building and selling homes to meet increasing demand.
By Michael Orr
ACT I V E L I S T I N G C O U N T S
SA L E S P E R M O N T H
Greater Phoenix - ARMLS Residential
Greater Phoenix - ARMLS Residential - Measured Monthly
the Source
FOR AVIANO REAL ESTATE Aviano Sales Recap for 2012 Number of Sales in 2012................. 55 List Volume.......................$29,532,400 Sold Volume.................... $29,171,663 List Price..................... $370,000 Low $536,953 Avg $795,000 High
Aviano inventory is low, low, low and buyer demand is high. There are just eleven homes currently for sale in all of Aviano, and six of them have contracts pending. Home prices have been steadily rising and are now at excellent levels. It is finally a seller’s market. If you’ve even considered selling, don’t list with anyone else until you’ve spoken with The Bruno Group. Our team lists and sells homes in Aviano at the highest prices. That means listing with another agent might leave money on the table – with us, we work hard to keep sales prices up and put more money in your pocket.
Sold Price.................. $369,000 Low $530,394 Avg $750,000 High Sale/List Price Ratio...........86% Low 99% Avg 1.11% High Approx. Sq. Ft................. 2,417 Low 3,708 Avg 5,714 High
List Price Per Approx. Sq. Ft.................. $121 Low $146 Avg $184 High Sold Price Per Approx. Sq. Ft............ $109 Low $144 Avg $177 High Days On Market.................... 0 Low 82 Avg 408 High
Statistics gathered from ARMLS. All information deemed reliable but not guaranteed. (Single-Family Residences)
HOW DO SALES IN AVIANO COMPARE TO OTHER NEARBY COMMUNITIES?
2012 Sales Statistics By Community
Community
Average Sales Price
Days On Market
List/Sell Price Ratio
# Closed
Aviano...........................................$530,394.................. 82................... 99%.......................... 55 Bellasera........................................$511,496.................. 76................... 97%.......................... 29 DC Ranch...................................$1,007,616................. 141.................. 95%......................... 118 Desert Ridge..................................$375,224.................. 68................... 99%......................... 269
Call today for a detailed analysis of your home’s value, current market conditions and our strategy for your home’s sale. We look forward to hearing from you!
Paul Bruno
Mobile: 602.369.0988 Paul@PaulBrunoGroup.com www.TheBrunoGroup.com
Eagle Mountain.............................$528,672................. 115.................. 97%.......................... 30 Gainey Ranch...............................$794,150................. 220.................. 92%.......................... 30 Grayhawk.....................................$572,259.................. 82................... 96%......................... 133 Hidden Hills...................................$617,407................. 126.................. 96%.......................... 28 Ironwood Village..........................$355,185.................. 85................... 97%.......................... 32 Legend Trail...................................$567,455................. 128.................. 96%.......................... 60 McCormick Ranch.......................$421,856.................. 82................... 97%.......................... 63 McDowell Mountain Ranch.........$513,130.................. 73................... 97%......................... 205 Scottsdale Mountain....................$607,771................. 141.................. 96%.......................... 52 Scottsdale Ranch.........................$544,665................. 109.................. 95%.......................... 95 Stonegate......................................$521,957.................. 95................... 97%.......................... 63 Terravita.........................................$458,572................. 147.................. 96%......................... 103 Statistics gathered from ARMLS. All information deemed reliable but not guaranteed. (Single-Family Residences)
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
nted by
se Proudly Pre
UP O R G O N U R B THE r Aviano Specialists You