What is Happening in the Arizona Housing Market August 2014

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The market continues to cruise at a moderate pace with 6,114 total resales in Maricopa County for July. REO closed was 367 which is 6%. Short sales closed were 214 which is 4% and normal sales closed was 5,533 which is 90%. Pending inventory is at 8,448 with REO pending at 450 which is 5% and short sales pending at 1,366 which is 16% and normal pending at 6,631 which is 79%. Active inventory in Maricopa County is down again slightly to 19,457. REO active is 644 and short sale active is also at 693 which is 3% each. Normal active is at 18,124 which is 94%.

school reports 2Home buyers and Home Sellers get started now.  Utilize our Free services and excellent resources for excellent information on the community you want to know about.

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Master Planned Communities Seville vs Encaterra

Seville vs Encanterra

8/6/2014

SEVILLE

Seville is located in the beautiful city of Gilbert Arizona, which was recently voted as one of the top 5 safest cities in America. Seville is 10 minutes away from the San Tan Mall, San Tan Freeway, Gilbert Mercy Hospital, The San Tan Village with shopping dining and entertainment.May2013-41

Seville Currently has 2,829 Single family homes in the subdivision. 1,830 of the homes are single story properties and 999 homes are 2 stories or more. As of August 2014 the Average Listing Price on a single family home for sale in Seville is $380,000 and the average size is approximately 2,908 sq feet. The current active listings are sitting on the market for approximately 80 days and listed at $130 a sq foot.Phoenix Area Homes

There have been 188 homes sold over the past 12 months. The average list price of the homes that sold was $332,473. The average sales price was $324,041, meaning homes are selling for 97.5% of what they are listed for. The average size for homes that have sold is 2,418. They are selling for $134 a sq foot and are on the market for approximately 72 days on average.

The Seville Country Club is top notch. It has 3 swimming pools, water slides, sand volleyball, tennis courts, basketball courts, a fitness center, day care, club house and immaculate championship 18 hole golf course complimented by the view of the San Tan Mountains. The membership dues are separate from the community as it is a private club located in the heart of Seville. Dues Range from $200 – $800 a month depending on whether you have the pool and golf memberships.

Encanterra

Encanterra is located in San Tan Valley, which is a few miles east of Queen Creek in the South East Valley. The community is about 25 minutes to the San Tan 202 Freeway, San Tan Mall, Gilbert Mercy Hospital and San Tan Village with Shopping, dining and entertainment.find-a-home

The Encanterra community is still building a lot of new homes. Currently there are only 462 homes in the community per Pinal County tax records. The community primarily a single story home provider. There are 443 single story homes and only 19 multi level homes. As of August 2014 the Average Listing Price for resale on a single family home in Encanterra is $375,000 and the average size is approximately 2,235 sq feet. The current active listings are sitting on the market for approximately 318 days and listed at $168 a sq foot.

There have been 42 homes sold over the past 12 months in the resale market. The average list price of the homes that sold was $344,779. The average sales price was $332,858, meaning homes are selling for 96.5% of what they are listed for. The average size for homes that have sold is 1,913. They are selling for $173 a sq foot and are on the market for approximately 290 days on average.

school reports 2 The Encanterra Community is also an Amazing club house, with a lot of amenities to choose from. All homeowners hold social membership in the Encanterra Country Club, with optional upgrade to full golf membership. Quarterly dues for all homes are $939.75 with a one-time reserve fee of $1062.00, utility fee of $26.68, transfer fee of $120.00, disclosure fee of $210.00, & a one-time buyer social membership fee of $7000.00 (80% refundable).

If you are interested in either of these communities contact us today to go over your home buying goals.  You will appreciate all our free home buyer services

Appraisers Are Not My Favorite People in the world

First a Quick Poll Do you Think Appraisers Should See a Purchase Contract Before Appraising a home?

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     I recently helped a family get into a beautiful home over in the Val Vista Lakes community.  The home is 2911 St, two story with 4 bedrooms, 3 full bathrooms and a loft.  The home Was listed at $330,000 and with my help and negotiation skills we were able to get the seller down to $310,000 for the sales price with $1,500 paid towards our closing costs.  The buyer stated and I quote , “I am as happy as a pig in mud”  classic and comical.

     So we got off to a good start we were $21,500 below list price.  The average home was listed for $133 a sf, we just locked down our contract at a value of $106 a sq ft.  There were some minor repairs that needed to be done from when we did our walk through. But we still needed to get into our deep dark home inspection and really break down the integrity of the home.school reports 2

     The DAY OF THE INSPECTION.  The home is in pretty good shape except the roof has some minor issues.  We got a licensed roofer, well actually 2 roofer’s to come out and inspect the roof more thoroughly.  To replace the roof it would be $6,500 dollars, to just make repairs it would be about $1500. ( Yea $6500 to replace the roof, Hit me up if you need a good roofer that is cheap ).  So not to big of a deal.  We are $21,500 below the list price of the home and $27 below the average price per sq foot for the community.  We are still in great shape.

     DAY THE APPRAISAL COMES IN –  The lender calls me up and says congrats the appraisal came in at the contract price.  My response was not  excitement.  I was not happy with the results and asked the lender to forward me a copy to review.  Upon reviewing there was not one comparable that the appraiser used that supported the low $310,000 sale price in fact he used homes that were $20 to $30 thousand dollars more. One  was $27 a sq foot more than our property. If you take 2911 sq feet x $27 a sq ft that equals $78,597, just a small difference here, right?  Now you may be wondering why I was upset.  Well when your client thinks they are getting a great deal and the appraisal only comes back at the purchase price of the home, some buyers get discouraged and want to back out.

     Luckily I had explained to the buyers that it was very likely that we would get an appraisal just like the one we received because appraisers now a days are too conservative and worried that the banks will get upset with them if they appraise the home higher.  Now this brings me to my thought process, appraisals are supposed to be done by a non biased, licensed 3rd party to the transaction.  Well if the appraiser is supposed to come up with the true value of the home, the appraiser should never receive a copy of the purchase contract.  They don’t get a contract when they do appraisals for a refinance!

    Make sure you educate your clients before hand to help set the expectations so that you don’t have a deal killer later.

Stop Renting

Gilbert Home for Rent in Val Vista Classics

We have an amazing property available here in the private gated community of Val Vista Classic in Gilbert Arizona.  The Val Vista Classic community is located in an excellent location off of Val Vista and Pecos. Just 1 mile East is the San Tan Mall & San Tan Village shopping center with entertainment and restaurants.  To the south just 1 mile is the 202 Freeway, making it quick to get on the move, no waiting at multiple stop lights.

The quiet community provided 3 swimming pools to keep nice and cool in the summer time, 5 beautiful lakes with water features and a basket ball court to keep your competitive spirit entertained.  The property 2634 S Harmony Ave is located to the North West of the community right in front of the 1 acre grassy common area with large trees and walking paths.  This is a common location for people walking their dogs and socializing with each other.

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This beautiful home offers the 2nd largest floor plan in the community.  It was recently remodeled in 2013 with granite counter tops, tile flooring in the kitchen and bathrooms, wood flooring in the common areas and carpet in the bedrooms.  All rooms have ceiling fans with lights.  The windows have blinds to keep the sun out and the heavy insulation helps keep the energy costs low.  The living room and kitchen are very spacious with lots of room for entertaining.

For more information call our pre recorded Hot line

about this property 800-218-7929 ext 105

http://www.MyPhoenixAreaHomes.com

 

4 Bedroom Homes HOT LIST in Seville under $300k

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Your Seville HOT List of 4 Bedroom Homes Under $300,000

For a Free Recorded Message about these unique properties

Call 800-218-7929 Ext 102

Here you will find access to the latest listings in the Seville area for under $300,000 dollars. These 4 bedrooms homes sell very quickly in the 85298 zip code. We have got the quickest and most up to date access to all these high demand homes in the Seville area. The best homes sell 1st so we know it is important to have accurate and instant information on homes.

Stop Renting

Seville is a very family oriented community, with award winning schools, San Tan Mountain recreational area for hiking and mountain biking, clean parks, Seville Golf & Country Club and San Tan out Door Mall for shopping. People want to live here so they can be a part of all these amazing attractions. The San Tan entertainment district down on Market St provides a Harkins theater, restaurants and shopping for everyone to enjoy.

Phoenix Area HomesWe thank you for reading about the Seville area and we hope you find our HOT LIST tool beneficial. Reminder all our clients are enrolled in the VIP BUYER Program with People’s Mortgage and American Family Insurance. You receive a Free Home Warranty, Free Appraisal and 12 Months Free Home Owners Insurance. As a VIP BUYER you also get our 100% satisfaction Guarantee. If the home we help you purchase makes you unhappy after 18 months we will sell the home for FREE!

THE HOT LIST OF 4 BEDROOM HOMES IN SEVILLE UNDER $300K CLICK HERE

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Ahwatukee HOT LIST of 4 Bedroom Homes Under $300k

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Your Ahwatukee HOT List of 4 Bedroom Homes Under $300,000

Here you will find access to the latest listing in the Ahwatukee area for under $300,000 dollars. These 4 bedrooms homes sell very quickly in the 85044 & 85048 zip codes. We have got the quickest and most up to date access to all these high demand homes in the Ahwatukee area.

Stop RentingAhwatukee is a very family oriented community, with award winning schools, South Mountain recreational area for hiking and mountain biking, clean parks, pecos swimming pool and skate park. People want to live here so they can be a part of all these amazing attractions. The Ahwatukee entertainment district down on Ray road provides an AMC theater, restaurants and shopping for everyone to enjoy. Ahwatukee is also located in a very convenient location next to to I-10 Freeway, US 60 Free Way, South 202 Freeway and 15 minutes from Phoenix Sky Harbor Airport.

Phoenix Area Homes

We thank you for reading about the Ahwatukee area and we hope you find our HOT LIST tool beneficial. Reminder all our clients are enrolled in the VIP BUYER Program with People’s Mortgage and American Family Insurance. You receive a Free Home Warranty, Free Appraisal and 12 Months Free Home Owners Insurance. As a VIP BUYER you also get our 100% satisfaction Guarantee. If the home we help you purchase makes you unhappy after 18 months we will sell the home for FREE!

THE HOT LIST OF 4 BEDROOM HOMES IN AHWATUKEE UNDER $300K CLICK HERE

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Distressed Sales/Bank Foreclosures Hotlist

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Your Customized HOT LIST of Distressed Properties!

Distress sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a home. It’s not easy for the average home buyer to find these deals because you have to keep searching to see when one comes up.

If you’re the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free service which automatically searches out and downloads a current list of all such properties day in and day out.  When you receive this free, no obligation service, you’re automatically plugged in to the most current list of Foreclosure Properties on the market in the price range and area that interest you.  You can also have access to updates of the list as new properties are added to it.

Here’s how it works.  You will receive a FREE report listing the current Foreclosures properties (including photos) in your desired price range and location.  There is no cost for this information and absolutely no obligation.  This insider information, sent to you in an incredibly simple and efficient format, will give you a huge advantage over the other buyers in the marketplace.

you can request this free “Distress Sales and Bank Foreclosures Hot list” by filling out the information necessary below.

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Provided by Bradley Potter, PLLC Homesmart Realty

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