Everything Fountain Hills!

RE/MAX R4 Convention

 
I recently returned from the annual Remax Convention in Las Vegas attended by over 5000 Remax agents from around the world. There was an incredible line up of speakers including, Bank of America executives Matt Vernon and Dave Sunlin, who spoke about the foreclosure market and what the bank is doing to streamline the process.  Founder of the Certified Distressed Property Institute, Alex Charfen spoke about Short Sales and the number of distressed properties on a national level. There are currently 5.9 million distressed properties and another 5.3 million projected sales.  Distressed properties represent almost 50% of all national sales and the percentage is about the same for Fountain Hills. Gary Vaynerchuk spoke about the future of social media and  Krish Dhanam an native of India that spoke on "The American Dream From an Indian Heart".   It's educational and networking opportunities like these that help keep me on the cutting edge of today’s real estate market.  Oh…  and don’t forget technology! I also recieved an award while there as seen in the photo with me and Dave Liniger, Co-Owner and CEO.

Market Update

Inventory continues to decline. As of April 1st, there are currently only 441 homes for sale in Fountain Hills - 268 of those are single family homes. There are 37 Lender Owned homes on the market and 42 Short Sales. The average price of a single family home is up to $763,306 likely due to our depleted inventory in the lower price ranges. There are 56 homes that have gone under Pending Status (under contract) in the last 30 days and 113 have closed - so the Title Companies are busy again! The average number of days on the market were 148. The average price of those Pending Sales is $523,220 (single family). The sellers are currently getting an average of 95% of their list price and the average closed sales price is $289,322. There are also 224 properties with scheduled trustee sale dates between now and 7/7/2011. Some of those homes, however, might be under contract and will not actually foreclose.