The news is good.
Buyers have awakened from their hibernation. They are looking and buying.50 houses in Fountain Hills received offers in the month of January. But the sad reality is that 66% of January’s market was distressed properties. Of the 35 homes that had an accepted contract 18 were distressed. Another 15 are still waiting for short sale approval from lenders.
Here is a breakdown of what has received an accepted contract in Fountain Hills Arizona in Jaunuary, 2010
$100,000 to $200,000 2 contracts
$200,000 to $300,000 10 contracts 2 foreclosures 4 short sales
$300,000 to $400,000 8 contracts 1 foreclosure 3 short sales
$400,000 to $500,000 4 contracts 2 foreclosures 1 short sale
$500,000 to $600,000 3 contracts 0 1 short sale
$600,000 to $700,000 3 contracts 0 1 short sale
$700,000 to $800,000 1 contract 1 foreclosure 0
$800,000 to $900,000 1 contract 1 foreclosure 0
$900,000 to $1M 1 contract 1 foreclosure 0
$1M to $2M 3 contracts 0 0
$2m + 0
The most popular price range were houses listed between $200,00 and $400,000. That makes sense since it incorporates the price range with the first time buyer incentive of $8000 tax credit. It is also the most popular range for move up buyers who can receive a $6500 tax credit for selling their smaller home and moving to a larger one.
Here is what is currently on the market.
$100,000 to $200,000 7 available 1 foreclosure 3 Short sales
$200,000 to $300,000 50 available 10 foreclosures 16 short sales
$300,000 to $400,000 47 available 1 foreclosure 5 short sales
$400,000 to $500,000 59 available 4 foreclosures 4 short sales
$500,000 to $600,000 27 available 5 foreclosures 2 short sales
$600,000 to $700,000 30 available 2 foreclosures 4 short sales
$700,000 to $800,000 13 available 0 2 short sales
$800,000 to $900,000 19 available 0 0
$900,000 to $1M 12 available 0 2 short sales
$1M to $2M 60 available 8 foreclosures 5 short sales
$2M to $3M 24 available 0 0
$3m + 8 available 0 0
Tuesday, February 2, 2010
Wednesday, December 9, 2009
Fountain Hills Real Estate Market November Update
For thoses of us who live in Fountain Hills and for those buyers who are interested in buying a house in our beautiful town, these numbers are of great importance.
November brought increased activity to our Fountain Hills real estate market. There are currently 360 single family houses available.
Is this the new norm? 22% of the available single family houses are distressed properties.
Over 70% of what buyers are buying today is DISTRESSED POPERTY
Total # on market 360 29 foreclosures + 53 short sales = 82 distressed properties
$100,000-$200,000 ……13 on market……..4 foreclosures……. 6 short sales
$200,000-$300,000 ……24 on market……..8 foreclosures…….16 short sales
$300,000-$400,000 ………50 on market……..0 foreclosures………9 short sales
$400,000-$500,000 ………47 on market……..4 foreclosures………3 short sales
$500,000-$600,000 …… 33 on market……… 2 foreclosures………4 short sales
$600,000-$700,000 …… 25 on market……..2 foreclosures…… 1 short sale
$700,000-$800,000 ………16 on market……..1 foreclosure……….2 short sales
$800,000-$900,000 ………22 on market……… 0 foreclosures……….2 short sales
$900,000-$1M………………. 14 on market……… 1 foreclosure………….1 short sale
$1M-$2M……………………… 62 on market……….7 foreclosures…………9 short sales
$2M-$3M……………………… 25 on market……….0 foreclosures…………0 short sales
$3M +……………………………. 7 on market “ “
Total of 48 single family houses went under contract in November
$100,000-$200,000 ……4 under contract …….2 foreclosures ……..2 short sales
$200,000-$300,000 ……16 under contract …… 3 foreclosures……..9 short sales
$300,000-$400,000………10 under contract…...1 foreclosure ………7 short sales
$400,000-$500,000………2 under contact…………………………… both short sales
$500,000-$600,000………6 under contract…………………………………… 3 short sales
$600,000-$700,000………4 under contract………………………………… 2 short sales
$700,000-$800,000………no activity
$800,000-$900,000………2 under contract…… both foreclosures
$900,000-$1M……………… 1 under contract…………………………………. 1 short sale
$1M-$2M…………………….. 3 under contract………..2 foreclosures…… 1 short sale
Freddie Mac reported mortgage rates down for the fifth straight week, now at record lows! The 30-year fixed-rate mortgage averaged 4.71%, with an average 0.7 point, for prime borrowers with 20% down payments. That's a new low for the survey which has been tracking rates since 1971.
For more information about Fountain Hills and what is available visit www.ericawesthomes.com.
November brought increased activity to our Fountain Hills real estate market. There are currently 360 single family houses available.
Is this the new norm? 22% of the available single family houses are distressed properties.
Over 70% of what buyers are buying today is DISTRESSED POPERTY
Total # on market 360 29 foreclosures + 53 short sales = 82 distressed properties
$100,000-$200,000 ……13 on market……..4 foreclosures……. 6 short sales
$200,000-$300,000 ……24 on market……..8 foreclosures…….16 short sales
$300,000-$400,000 ………50 on market……..0 foreclosures………9 short sales
$400,000-$500,000 ………47 on market……..4 foreclosures………3 short sales
$500,000-$600,000 …… 33 on market……… 2 foreclosures………4 short sales
$600,000-$700,000 …… 25 on market……..2 foreclosures…… 1 short sale
$700,000-$800,000 ………16 on market……..1 foreclosure……….2 short sales
$800,000-$900,000 ………22 on market……… 0 foreclosures……….2 short sales
$900,000-$1M………………. 14 on market……… 1 foreclosure………….1 short sale
$1M-$2M……………………… 62 on market……….7 foreclosures…………9 short sales
$2M-$3M……………………… 25 on market……….0 foreclosures…………0 short sales
$3M +……………………………. 7 on market “ “
Total of 48 single family houses went under contract in November
$100,000-$200,000 ……4 under contract …….2 foreclosures ……..2 short sales
$200,000-$300,000 ……16 under contract …… 3 foreclosures……..9 short sales
$300,000-$400,000………10 under contract…...1 foreclosure ………7 short sales
$400,000-$500,000………2 under contact…………………………… both short sales
$500,000-$600,000………6 under contract…………………………………… 3 short sales
$600,000-$700,000………4 under contract………………………………… 2 short sales
$700,000-$800,000………no activity
$800,000-$900,000………2 under contract…… both foreclosures
$900,000-$1M……………… 1 under contract…………………………………. 1 short sale
$1M-$2M…………………….. 3 under contract………..2 foreclosures…… 1 short sale
Freddie Mac reported mortgage rates down for the fifth straight week, now at record lows! The 30-year fixed-rate mortgage averaged 4.71%, with an average 0.7 point, for prime borrowers with 20% down payments. That's a new low for the survey which has been tracking rates since 1971.
For more information about Fountain Hills and what is available visit www.ericawesthomes.com.
Wednesday, November 4, 2009
Fountain Hills Arizona October Real Estate Report
Keeping track of your local real estate market can help you gain a perspective about the value of your home.
And if you’re thinking about putting your Fountain Hills home on the market, these figures can be a valuable tool in helping you determine a realistic price.
October 2009 Inventory
There are 347 single family houses on the market in Fountain Hills.
Price is what the seller expects.
$$$$$$$
100,000-200,000 6 for sale 1 foreclosure 4 short sales
200,000-300,000 43 for sale 7 foreclosures 10 short sales
300,000-400,000 50 for sale 4 foreclosures 12 short sales
400,000-500,000 39 for sale 2 foreclosures 3 short sales
500,000-600,000 35 for sale 2 foreclosures 6 short sales
600,000-700,000 26 for sale 1 foreclosure 2 short sales
700,000-800,000 19 for sale 2 foreclosure 2 short sales
800,000-900,000 20 for sale 0 1 short sale
900,000-1Million 17 for sale 1 foreclosure 1 short sale
1M-2Million 69 for sale 7 foreclosures 9 short sales
2M-3Million 24 for sale 0 0
3M+ 7 for sale 0 0
Value is what the buyer expects.
Here’s what buyers believed was a good value for their price.
A total of 26 single family homes pended. 11 were foreclosures and 2 were short sales. That translates to 50% of purchased homes are
100,000-200,000 1 pended
200,000-300,000 7 pended 4 foreclosures 1 short sale
300,000-400,000 3 pended 2 foreclosures 0 short sale
400,000-500,000 5 pended 2 foreclosures 1 short sale
500,000-600,000 4 pended 0 0
600,000-700,000 2 pended 1 foreclosure 0
700,000-800,000 2 pended 1 foreclosure 0
800,000-900,000 0
900,000-1M 1 pended
1M-2Million 1 pended 1 foreclosure
When price and value are equal the seller sells, the buyer buys and the home gets a new owner.
And if you’re thinking about putting your Fountain Hills home on the market, these figures can be a valuable tool in helping you determine a realistic price.
October 2009 Inventory
There are 347 single family houses on the market in Fountain Hills.
Price is what the seller expects.
$$$$$$$
100,000-200,000 6 for sale 1 foreclosure 4 short sales
200,000-300,000 43 for sale 7 foreclosures 10 short sales
300,000-400,000 50 for sale 4 foreclosures 12 short sales
400,000-500,000 39 for sale 2 foreclosures 3 short sales
500,000-600,000 35 for sale 2 foreclosures 6 short sales
600,000-700,000 26 for sale 1 foreclosure 2 short sales
700,000-800,000 19 for sale 2 foreclosure 2 short sales
800,000-900,000 20 for sale 0 1 short sale
900,000-1Million 17 for sale 1 foreclosure 1 short sale
1M-2Million 69 for sale 7 foreclosures 9 short sales
2M-3Million 24 for sale 0 0
3M+ 7 for sale 0 0
Value is what the buyer expects.
Here’s what buyers believed was a good value for their price.
A total of 26 single family homes pended. 11 were foreclosures and 2 were short sales. That translates to 50% of purchased homes are
100,000-200,000 1 pended
200,000-300,000 7 pended 4 foreclosures 1 short sale
300,000-400,000 3 pended 2 foreclosures 0 short sale
400,000-500,000 5 pended 2 foreclosures 1 short sale
500,000-600,000 4 pended 0 0
600,000-700,000 2 pended 1 foreclosure 0
700,000-800,000 2 pended 1 foreclosure 0
800,000-900,000 0
900,000-1M 1 pended
1M-2Million 1 pended 1 foreclosure
When price and value are equal the seller sells, the buyer buys and the home gets a new owner.
Monday, October 5, 2009
What Was September Like in Fountain Hills?
My crystal ball is too cloudy to see the future, but the fog has lifted off the past. I see it clearly. So here it is, for you to see, too.
With over 8,000 single family homes in Fountain Hills less than 4% of our houses are homes for sale.
There are currently 328 houses for sale in Fountain Hills
.• $100,000-$200,000 7 listed…..1 foreclosure…..5 short sales
• $200,000-$300,000 33 listed….5 foreclosures…9 short sales
• $300,000-$400,000 43 listed….5 foreclosures…5 short sales
• $400,000-$500,000 38 listed….2 foreclosures…3 short sales
• $500,000-$600,000 41 listed….2 foreclosures…4 short sales
• $600,000-$700,000 21 listed….2 foreclosures…5 short sales
• $700,000-$800,000 21 listed….2 foreclosures…1 short sale
• $800,000-$900,000 17 listed….1 foreclosure…0 short sales
• $900,000-$1million 17 listed….1 foreclosure….2 short sales
• $1million-$2million 69 listed….5 foreclosures…6 short sales
• $2million-$3million 22 listed….0 foreclosures…1 short sales
• $3million + 3 listed
To really understand our market we need to examine what price ranges sold and what percentage of the market is selling in each price range.
Here’s the breakdown of what buyers are buying
• $100,000-$200,000 2 sold…..1 foreclosure…..0 short sales
• $200,000-$300,000 7 sold…..2 foreclosures….1 short sale
• $300,000-$400,000 6 sold…..1 foreclosure……1 short sale
• $400,000-$500,000 7 sold……1 foreclosure…..2 short sales
• $500,000-$600,000 4 sold……2 foreclosure…..0 short sales
• $600,000-$700,000 3 sold….. 1 foreclosure…..2 short sales•
$700,000-$1 Million… No sales
• $1M-$2M One (1) Short sale
• $2M-$3M One (1) Short Sale
20% of the houses for sale are distressed; while 50% of the houses selling are distressed.
It is significant to note that the heaviest concentration of sales is in the price range most impacted by the stimulus bill.What will happen when the $8000 first-time buyer tax credit expires November 30th?
From my cloudy crystal ball, I really can’t tell, but I’ll keep you posted.
In the meantime, enjoy our beautiful fall weather.
Tuesday, September 22, 2009
Look in Your Pantry to Save Money on Home Ownership
In today’s economic and environmental climate, homeowners are looking for ways to reduce the cost of maintaining their home. Home repairs can be a costly affair.
Keeping your house in good condition is certainly less expensive than repairing it.
What will you find in your pantry that can help you maintain your house, keep it sparkling, and save you money?
It’s vinegar, ordinary inexpensive white vinegar. And since vinegar is a product of fermentation it contains no chemicals and is “GREEN”.
Here is a partial list of what this product of fermentation can do.
· Clean corroded shower heads & faucets. Soak corroded parts in vinegar for several hours or overnight.
· Open clogged drains. Boil vinegar and pour small amount down drain. Wait 10 minutes. Run hot water. Repeat if necessary.
· Wash dishes. Add a capful to dishwater. Cuts grease.
· Wash windows and mirrors. Mix one tablespoon of vinegar in a quart of water.
· Remove dried paint from glass. Heat vinegar and apply to paint to soften.
· Polish chrome and stainless steel by moistening a soft cloth with vinegar and polishing.
· Remove room odors .Placing bowls of vinegar in a room can remove the more noxious odors of smoke, vomit, paint and more.
· Kill weeds and unwanted grass between stepping stones by pouring vinegar on them.
· Repel ants. Wipe or spray any area with a solution of ½ vinegar, 1/2 water to keep ants away.
· Clean caked, stiff paint brushes. For mildly caked brush, soak in vinegar. For worse case heat vinegar, heat brush for 10 minutes.
As a real estate agent here in our small town of Fountain Hills, Arizona, I’ve seen sellers who have neglected their homes end up paying thousands of dollars in costly repairs when they decide to sell. Your home’s value will be affected by its condition.
For more information on the amazing uses of vinegar you might like to purchase a little book called, “Herbal Vinegar” by Maggie Oster available at www.Amazon.com.
Keeping your house in good condition is certainly less expensive than repairing it.
What will you find in your pantry that can help you maintain your house, keep it sparkling, and save you money?
It’s vinegar, ordinary inexpensive white vinegar. And since vinegar is a product of fermentation it contains no chemicals and is “GREEN”.
Here is a partial list of what this product of fermentation can do.
· Clean corroded shower heads & faucets. Soak corroded parts in vinegar for several hours or overnight.
· Open clogged drains. Boil vinegar and pour small amount down drain. Wait 10 minutes. Run hot water. Repeat if necessary.
· Wash dishes. Add a capful to dishwater. Cuts grease.
· Wash windows and mirrors. Mix one tablespoon of vinegar in a quart of water.
· Remove dried paint from glass. Heat vinegar and apply to paint to soften.
· Polish chrome and stainless steel by moistening a soft cloth with vinegar and polishing.
· Remove room odors .Placing bowls of vinegar in a room can remove the more noxious odors of smoke, vomit, paint and more.
· Kill weeds and unwanted grass between stepping stones by pouring vinegar on them.
· Repel ants. Wipe or spray any area with a solution of ½ vinegar, 1/2 water to keep ants away.
· Clean caked, stiff paint brushes. For mildly caked brush, soak in vinegar. For worse case heat vinegar, heat brush for 10 minutes.
As a real estate agent here in our small town of Fountain Hills, Arizona, I’ve seen sellers who have neglected their homes end up paying thousands of dollars in costly repairs when they decide to sell. Your home’s value will be affected by its condition.
For more information on the amazing uses of vinegar you might like to purchase a little book called, “Herbal Vinegar” by Maggie Oster available at www.Amazon.com.
Wednesday, September 2, 2009
Fountain Hills Arizona Real Estate Report for August 2009
How lucky we are to live in Fountain Hills. As tough as the real estate market has been we have suffered less than many other parts of the Valley. Probably because of our incredible views, small town atmosphere and variety of homes.
What's on the market now? What’s available? What’s hot? What price ranges are selling?
Look at the report below for the answers.
There is a total of 320 single family houses for sale.
What's on the market now? What’s available? What’s hot? What price ranges are selling?
Look at the report below for the answers.
There is a total of 320 single family houses for sale.
- From $100,000-$200,000 there are 4 houses. 2 are short sales.
- From $200,000-$300,000 there are 33 houses. 5 are foreclosures. 7 are short sales.
- From $300,000-$400,000 there are 41 houses. 2 are foreclosures. 8 are short sales.
- From $400,000-$500,000 there are 38 houses. 4 are foreclosures. 4 short sales.
- From $500,000-$600,000 there are 35 houses. 0 financially challenged.
- From $600,000-$700,000 there are 24 houses. 1 is a foreclosure . 7 are short sales.
- From $700,000-$800,000 there are 22 houses. 3 are foreclosures.
- From $800,000-$900,000 there are 14 houses. 0 are financially challenged.
- From $900,000- $1M there are 71 houses. 5 are foreclosures, 5 are short sales.
- From $1M-$2M there are 23 houses. 1 foreclosure and 1 short sale.
Any market activity has an impact on the value of your home.
Pending sales in August.
- 4 homes between $100,000-$200,000. 2 were forclosures; 2 were short sales.
- 7 homes between $200,000-$300,000. 4 were foreclosures
- 8 homes between $300,000-$400,000. 1 short sale
- 9 homes between $400,000-$500,000. 2 foreclosures. 1 short sale
- 2 homes between $500,000-$600,000. 1 foreclosure 1 short sale
- 2 homes between $600,000-$700,000 1 foreclosure
- 0 homes between $700,000-$1,000,000
- 4 homes between $1M - $2M. 1 foreclosure
If you don’t live in our beautiful community and would like to know more about it visit my website at www.ericawesthomes.com. There you will find indepth information about the town and it's lifestyle.
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