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Fountain Hills Market Conditions - February 2012

As of February 1st, there are 314 Active Residential Listings. That's even fewer than last month. Normally, we would see the inventory start to rise a bit this time of year?? Of that total - 202 are single family homes. There are 12 Lender Owned, single family homes on the market and 16 Short Sales. The distressed properties represent 42% of our closed, single family home sales in January. There are 55 single-family homes that are in Pending Status (under contract) and 36 that have closed. The average number of days on the market were 119 and the average price of those Pending Sales is $390,022 (single family). The sellers are got an average of 96% of their list price for a traditional sale. While the Short Sales and Foreclosures averaged 100%. I guess there isn't much wiggle room when they are already priced below market. The average closed sales price is $360,986 (single family). There are 139 properties with scheduled trustee sale dates in the next 90 days. That's almost 10% fewer than just a couple of months ago. Most likely due to the banks successfully closing more Short Sales. If you are a buyer, you should know that the inventory is low and the good ones still sell quickly and for a good price - sometimes above the list price. It also looks like you may have slightly more negotiating power with a homeowner rather than a bank in a distressed sale. Fountain Hills home values are down by an average of 50% from 2005-2006 compared to other parts of the Phoenix Metro Area that are down 65%. That combined with historically low interest makes this a great time to buy or invest in real estate!

Fountain Hills Market Conditions January 2012

Happy New Year Everyone!! As of January 1st, there are 329 Active Residential Listings. That's a pretty low number, probably due to all of the listings that expire at the end of the year. I think we will see quite a few more next month. Of that total - 210 are single family homes. There are 11 Lender Owned, single family homes on the market and 26 Short Sales. The Short Sales were 59% of our closed sales in December and the Foreclosures made up 38% of our closind, leaving only 19% to traditional sales. That means that there will be fewer homes that will ever get to foreclosure. There are 45 single-family homes that are in Pending Status (under contract) and 40 that have closed. The average number of days on the market were 138 and the average price of those Pending Sales is $402,979 (single family). The sellers are got an average of 95% of their list price for a traditional sale. While the Short Sales got 98% of their list price and the foreclosures got 97% of their list price. The average closed sales price is $361,888 (single family). There are 147 properties with scheduled trustee sale dates in the next 90 days. If you are a buyer, you should know that the inventory is low and the good ones still sell quickly and for a good price - sometimes above the list price. It also looks like you may have slightly more negotiating power with a homeowner rather than a bank in a distressed sale. Fountain Hills home values are down by an average of 50% from 2005-2006 compared to other parts of the Phoenix Metro Area that are down 65%. That combined with historically low interest makes this a great time to buy or invest in real estate!

Fountain Hills Market Conditions - September 2011

As of September 1st, there are now only 312 homes for sale in Fountain Hills! That's virtually unchanged from last month. Of that total - only 180 are single family homes and only 69 of them are left under 400K! There are 78 homes for sale between 400 - 1M and another 33 over a million. There are 15 Lender Owned, single family homes on the market and 25 Short Sales. There are 32 homes that have gone under Pending Status (under contract) in the last 30 days and 17 that have closed - most of those have been distressed properties. The average number of days on the market were 167 and the average price of those Pending Sales is $315,268 (single family). The sellers are currently getting an average of 95% of their list price and the average closed sales price is $483,993 (single family). There are still 169 properties with scheduled trustee sale dates in the next 90 days. Some of those homes, however, might be under contract and will not actually foreclose. If you are a buyer, you should know that the inventory is low and the good ones still sell quickly and for a good price - sometimes above the list price. Fountain Hills home values are down by an average of 50% from 2005-2006 compared to other parts of the Phoenix Metro Area that are down 65%. Interest rates are the lowest they have been in 60 years, so the only place for them to go is up. The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833. If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.

Fountain Hills Real Estate Update, July 2011

As of July 1st, there are now only 338 homes for sale in Fountain Hills! Down again from last month. Of that total - only 199 are single family homes and only 78 of them are left under 400K!  There are 51 homes for sale between 400 - 600K, 28 from 600 - 1M and another 42 over a million. There are 32 Lender Owned homes on the market and 37 Short Sales. The average price of a single family home is currently 717K. There are 59 homes that have gone under Pending Status (under contract) in the last 30 days and 22 that have closed. The average number of days on the market were 156 and the average price of those Pending Sales is $395,956 (single family). The sellers are currently getting an average of 97% of their list price and the average closed sales price is $479,403 (single family). There are still 161 properties with scheduled trustee sale dates in the next 90 days. Some of those homes, however, might be under contract and will not actually foreclose. Fountain Hills home values are down by an average of 50% from 2005-2006 compared to other parts of the Phoenix Metro Area that are down 65%. Interest rates are the lowest they have been in 60 years, so the only place for them to go is up. The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833. If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.

Fountain Hills Real Estate Update

As of June 1st, there are only 350 homes for sale in Fountain Hills! That's down another 11% from just a month ago and 20% fewer than what our inventory was two months ago. Of that total - only 218 are single family homes and only 83 of them are left under 400K. There are 60 homes for sale between 400 - 600K, 30 from 600 - 1M and another 45 over a million. There are 30 Lender Owned homes on the market and 28 Short Sales. The average price of a single family home is currently 715K. There are 43 homes that have gone under Pending Status (under contract) in the last 30 days and only 14 that have closed. The average number of days on the market were 206 and the average price of those Pending Sales is $541,019 (single family). The sellers are currently getting an average of 96% of their list price and the average closed sales price is $326,027 (single family). There are still 169 properties with scheduled trustee sale dates in the next 90 days. The national predictions are for another 7 million foreclosures. If you, or someone you know, owes more on your mortgage than it's currently worth there may be help. Visit www.FountainHillsShortSales.com

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.

Fountain Hills Market Conditions March 2011

Sales are up and inventory is low! As of March 1st, there are currently only 470 homes for sale in Fountain Hills - 291 of those are single family homes. There are 41 Lender Owned homes on the market and 44 Short Sales. The average price of a single family home is $598,119. There are 70 homes that have gone under Pending Status (under contract) in the last 30 days and the average number of days on the market were 110. The average price of those Pending Sales is $321,714. The sellers are currently getting an average of 95% of their list price and the average closed sales price is $289,322. Fountain Hills home values are down by an average of 50% from 2005-2006 compared to other parts of the Phoenix Metro Area that are down 65%. Interest rates are the lowest they have been in 60 years, so the only place for them to go is up. The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833!! If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.

It's only a buyers market until more than one person wants the same house and that's happening!

Fountain Hills Market Conditions - November 2010

As of November 1st, there are currently 537 homes for sale in Fountain Hills - 325 of those are single family homes and 122 (of the total) are distressed (either Short Sales or Foreclosures). That's still about 25% of our active listings and relatively unchanged from last month even with the supposed freeze on foreclosures. The average price is $541,258. There are 69 homes that have gone under Pending Status (under contract) and the average number of days on the market were 188. The average price of those Pending Sales is $334,426. There were 32 single family homes that sold/closed escrow in October with an average sales price of $406,922. On average, sellers are gettting about 95% of their list price. Fountain Hills home values are down by an average of 50% from 2005-2006. Couple that with historically low interest rates and you have a really great deal. The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833!! If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.

Fountain Hills Market Conditions - October 2010

As of October 1st, there are currently 521 homes for sale in Fountain Hills - 317 of those are single family homes and 127 (of the total) are distressed (either Short Sales or Foreclosures). That's about 25% of our active listings and relatively unchanged from last month. The average price is $543,652. There are 52 homes that have gone under Pending Status (under contract) and the average number of days on the market were 189. There were 26 single family homes that sold/closed escrow in September. Of those sales, 85% were distressed and most sales are under 400K. This is the time of year where wetypically see our inventory increase. Hopefully, our sales will increase along with it. It will be interesting to see if there are more foreclosures released to the market. Unfortunately, that's what continues to drive our prices down. On average, sellers are gettting about 95% of their list price. Since our prices have leveled off and are no longer in the death spiral that we saw a couple of years ago, sellers can expect more reasonable offers (unlessthey are overpriced). The prices are already down by an average of 50% from 2005-2006. They ARE a good deal! The time to buy is NOW! You can easily search for homes in Fountain Hills or surrounding communities on my website at www.MyHassleFreeListings.com. Call me today at 602.400.0250 or toll free at 888.311.4833!! If you, or someone you know are behind on their mortgage payments and owe more than the home is worth, please visit http://FountainHillsShortSales.com to find out how I may be able to help.