Greetings!
 Happy New Year! This year we want to keep you informed on the health of the Phoenix real estate market and how this affects your home and/or investment property values. As we begin 2012, a significant drop of distressed properties on the market and lower inventory indicates returning to a more normal real estate market. The ratio of active single family homes that are Foreclosed properties (REO) and Short Sales has dramatically dropped to make up only 30% of the market with the other 70% as Traditional sellers. This is a complete shift from where we started last year with 70% distressed and only 30% traditional. Recovery signs will continue to fluctuate but we are moving in the right direction.
We are looking forward to serving your real estate needs and appreciate your referrals to friends, family and co-workers.
Sincerely, Tim & Aurien Preiss, CRS, GRI, CSSN
Experienced Realtors HomeSmart Real Estate
Tim: 480-229-1122 Aurien: 480-229-2006 |
|
2011 Market Recap
Is the market getting better?
Yes! According to the Arizona Regional Multiple Listing Service Inc, the Total Inventory coasted on a steady downward trend all through 2011 starting at a high of 42,881 in January and continuing to 24,712 in December. December's total inventory figure represents a 42.37% drop from January's high. Reduction in total inventory plays a major role in the supply and demand balance so critical in correcting the Valley's pricing doldrums.
The Months Supply of Inventory (MSI - the number of months it will take to sell current inventory) took a downward turn to to land at 3.15 months in December. To put this number in perspective, consider that in December 2007, market wide MSI was 15.98 months.
The average sales price in the 4th quarter finished at $162,200 representing a 3.31% increase in the average sales price in 2011.
Foreclosures and Short Sales have dominated the total sale composition for many years. However we have consistently seen the number of pending Foreclosures (homes in some stage of acquision by the lender, prior to actual forclosure) drop every month ending the year at 19,979. Consider where we were in November 2009 with 50,568. This represents a drop of 60.49%. Short Sales have a slight increase mainly due to a shift in lender attitudes towards working out a solution with a struggling homeowner. By the way, Tim & I have been certified as Short Sale Negotiators and have a high success ratio (99%) of negotiating and closing these transactions.
|
|
CLEAN SWEEP
Have you made a New Year's resolution to downsize all the "stuff" you've accumulated in your home? You're not alone. Get started with these tips from TLC and Real Simple magazine for tackling clutter in prominent spaces.
Closet Consider installing a second rod underneath the primary clothing rod to hang skirts, shorts, scarves and bags; you can double your storage and eliminate the need for shelving. Keep only in-season items in your closet; box the rest and store underneath the bed or in a storage closet. To keep your closets from getting cluttered in the first place, implement a new rule: For each new item that comes in, two items must be thrown out or donated.
Kitchen Keep objects close to where they are used. For example, keep the dishes near the dishwasher, and the spices at arm's length of the stove. If the objects in question are easier to put away after use, the kitchen is more likely to stay clean. Clear counters of unused small appliances and cookbooks and store them in cabinets or shelves instead. Use the insides of cabinets and pantry doors to organize knickknacks, such as chip clips or bottle openers that can hang, or trim down an over-the-door shoe organizer to fit the inside of the cabinet to house these items.
Home Office Establish a filing system that you can easily - and immediately - use to keep bills and loose papers from getting out of hand. Keep labeled manila folders at the ready; assign folders for tax records, utility bills and medical expenses, for example. Consider investing in a scanner to digitize important documents and save them on a hard drive for easy (and paper-free) access. Create a "shelf life" rule for magazines; for example, purge weeklies after a month and monthlies every few months. |
| Thank you!
For your continued support, loyalty and referrals to your friends, family & co-workers. Your business is appreciated and we welcome the opportunity to continue to serve your Arizona Real Estate needs.
Aurien & Tim |
|
HomeSmart
10601 N Hayden Rd, #100
Scottsdale, AZ 85260 |
|
| Featured Property | |
North Phoenix Beauty
$174,900
Wow - excellent value for 3 bedrooms, plus loft, formal living & dining & large family room open to kitchen. Upgraded with Granite countertops, newer carpeting, tile floors just where you need them, newer stainless appliances including 5 burner gas stove! Nice size step-in pantry too! Master suite has window seat, walk-in closet, separate shower & tub. Perfect Cul-de-sac location with very deep lot & huge yard! Newer landscaping with citrus trees. Great neighborhood close to schools, freeway, shopping & restaurants! Refrigerator, washer & dryer convey. |
| Gardening Corner | |
Be Prepared for Winter!
Cold, wet soil is hard on plants. Don't leave your automatic irrigation system to run on a summer schedule during cold weather. If the soil stays too wet, your plants will be under stress. Pansies, petunias and geraniums can be attacked by Rhizoctonia organisms - and winter lawns by Pythium fungus. besides, you'll discover that a wet lawn can't be mowed easily.
Protect your tender plants from frosts!
January and February are the coldest times of the year. Be prepared to cover your tender plants from a hard freeze with frost cloth or old sheets. If using old sheets, it's best that they are a light color to help the sunlight warm the plant during the day and to protect it at night. You can leave the covers on up to a week at a time. Professional frost cloth can be purchased at your local nurseries.
Best Flowers for Winter Color
Sunset Magazine features the 17 best plants for winter color. Pansies, snapdragons, petunias are just a few, read the entire article here...best flowers
|
|
