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July 16, 2012 by · Leave a Comment 

by Justin Lombard LIVE!  UPDATED IN REAL TIME! Phoenix real estate statistical reports for the trailing 12 months for Greater Phoenix and surrounding communities represented in the shaded areas on the map below.     On the charts below, hover over the graphs and click on the legend for interactive features.   Sold Listings (#/units)   Average Sale Price   Average Days... 

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Scottsdale real estate snapshot update – May 5, 2014

May 5, 2014 by · Leave a Comment 

        Here are some key up-to-the-minute Scottsdale real estate stats for May 5, 2014 as reported in the Arizona Regional Multiple Listing Service (ARMLS). Criterion include all property types (homes, condos, patio homes, etc) in Scottsdale.   Active Listings and Listings taking backup offers: 3,860 Lowest List Price: $31,900 Average List Price: $855,655 Highest List Price:... 

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Buying is still cheaper than renting in Tucson and Phoenix

April 10, 2014 by · Leave a Comment 

To own or rent, that is the question that continues to weigh on the minds of potential homebuyers everywhere. While the gap may have narrowed over the past year due to rising mortgage rates and home values, buying is still a better bargain than renting in most communities across the country – including Phoenix and Tucson — according to an online real estate company. Trulia recently reported... 

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Phoenix named “Top 10 Market for First-Time Homebuyers for 2014”

March 28, 2014 by · Leave a Comment 

The top 10 markets for first-time home buyers this year include seven metropolitan areas in Sun Belt states, plus the areas around Pittsburgh and Philadelphia, according to a new report by®. Pittsburgh topped the study’s ranking, which examined five key factors that make particular markets ideal for first-time buyers: market popularity, prices, inventory, time on market and unemployment... 

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Phoenix real estate market is at an inflection point

March 27, 2014 by · Leave a Comment 

by Justin Lombard It’s clear from market stats that the red-hot Phoenix real estate market has cooled down to “merely mortal” levels.  Inventory levels are rising, unit sales are dipping, and days on market is creeping upwards. Many investors have set their sights on other markets that they believe hold more immediate upside potential and some of the “Canadian tide” has... 

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Arizona Drops out of “Foreclosure Top 10”

August 27, 2013 by · Leave a Comment 

HousingWire reports that foreclosure filings dropped almost 16% in July 2013 from June, and are down about 50% over the same time last year. This data confirms what most Arizona Realtors and real estate analysts already knew — the Arizona real estate market is in full recovery mode. Solid appreciation has created a market that’s a mix of sellers who now find they have sufficient equity... 

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Valley home prices back to 2008 levels

July 29, 2013 by · Leave a Comment 

In 2007, the Valley’s housing market began a long spiral collapse, followed by years of high supply and low demand, leading to a multi-year, very slow, very steady period of recovery. About 19 months ago, people realized that the Phoenix real estate inventory, once as high as 60,000 available properties, had dwindled to well below 10,000 units.  Indeed, we had shifted from a strong buyer’s... 

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Phoenix tops Kiplinger list of cities where home prices have risen the most

June 13, 2013 by · Leave a Comment 

According to a recent Kiplinger article, Phoenix leads the nation with a 26.2% increase in home prices.  The author doesn’t draw many conclusions, but implies the market will slow down as distressed inventory levels fall and more sellers jump into the market. While I agree that Phoenix real estate can’t sustain a 26.2% annual appreciation rate for the long term, I don’t see any indications... 

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Realtors fault low appraisals for sluggish housing market

October 17, 2012 by · Leave a Comment 

The fact is, when I do a listing presentation, I always explain to my sellers that there is a difference between “market value” and “appraisal value.”  Market value represents what a ready, willing, and able buyer would pay for a property.  Appraisal value is self-explanatory.  Because buyers are actively in and out of properties and not merely dependent on MLS photos, I... 

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Scottsdale Real Estate Update: August 2012

September 26, 2012 by · Leave a Comment 

  Below is a chart from the Arizona Regional Multiple Listing Service (ARMLS) highlighting and comparing Scottsdale real estate stats between August 2011 and August 2012. Consistent with other areas of the Valley, inventory is down (37%), as are days on market (27%), reflecting the recovering real estate market in Scottsdale. Meanwhile, as inventory has dropped, prices have risen.  The average... 

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Phoenix-area rental homes a red-hot commodity

September 13, 2012 by · Leave a Comment 

Here’s an article from the Arizona Republic that highlights the competitive state of today’s Phoenix rental market. Crowds of people swarming open houses. Multiple bids on properties from desperate home seekers. Palpable fear over losing the “right” place to a ravenous market. Sounds like a typical day in metro Phoenix’s housing market, where buyer demand exceeds the... 

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