Hegreness Residential Real Estate Group 623-826-0888
"The Right Move When Life Moves You"
Keller Williams Arizona Realty - GRI, CDPE, SFR, AHWD, CNE
"The Right Move When Life Moves You"
Keller Williams Arizona Realty - GRI, CDPE, SFR, AHWD, CNE
Keller Williams Realty
Hegreness Residential Real Estate Group
Serving Home Buyers' and Sellers' needs in Arizona - (888) 637-1415
Hegreness Residential Real Estate Group
Serving Home Buyers' and Sellers' needs in Arizona - (888) 637-1415
Arizona's Premier Keller Williams Team
The Northeast Valley may finally be riding the wave toward a balanced market. Because the Northeast Valley has not experienced the level of distress evident in other areas of the Valley, the buyer perception of value has not been present that has caused the seller's market in areas of the Valley in the lower price ranges.
According to the Cromford Report, the Northeast Valley fared much better in June than most areas of greater Phoenix! The number of active listings fell, the number of sales rose and supply dropped to 6.8 months. That may not seem significant, but it is the first time in several years that the Northeast Valley has had active supply drop below 7 months. Additionally, new notices of trustee sale in the Northeast Valley fell 16% in June.
Levels of distress in currently active inventory, and inventory sold in the last 30 days are as follows:
Active Sold
Carefree 26% 50%
Cavecreek 45% 53%
Chandler 70% 70%
Fountain Hills 31% 54%
Gilbert 60% 69%
Glendale 72% 77%
Goodyear 64% 66%
Mesa 75% 72%
Paradise Valley 20% 40%
Peoria 72% 75%
Scottsdale 33% 47%
Surprise 49% 57%
Tempe 45% 47%
Current Conditions in the Phoenix Market:
There are 28,339 single family detached homes actively on the market in MLS. That is an increase of 339 listings for the week.
There are 35,084 active listings in MLS, which includes patio homes, town homes, condos and loft properties.
According to the Cromford Report, the Northeast Valley fared much better in June than most areas of greater Phoenix! The number of active listings fell, the number of sales rose and supply dropped to 6.8 months. That may not seem significant, but it is the first time in several years that the Northeast Valley has had active supply drop below 7 months. Additionally, new notices of trustee sale in the Northeast Valley fell 16% in June.
Levels of distress in currently active inventory, and inventory sold in the last 30 days are as follows:
Active Sold
Carefree 26% 50%
Cavecreek 45% 53%
Chandler 70% 70%
Fountain Hills 31% 54%
Gilbert 60% 69%
Glendale 72% 77%
Goodyear 64% 66%
Mesa 75% 72%
Paradise Valley 20% 40%
Peoria 72% 75%
Scottsdale 33% 47%
Surprise 49% 57%
Tempe 45% 47%
Current Conditions in the Phoenix Market:
There are 28,339 single family detached homes actively on the market in MLS. That is an increase of 339 listings for the week.
There are 35,084 active listings in MLS, which includes patio homes, town homes, condos and loft properties.
Investors
Arizona has been a hub for investors for the past decade. Unfortunately over the past few years a major shift in our market has caused our values to dramatically decrease in price. This has been a double edged sword. Many people have been put into a terrible financial position because of this drop in prices and yet we now have a unique opportunity to invest in Real Estate while prices are low, interest rates are low and rental rates are high. Contact us to talk about a long term or short term investment. We can help you analyze the numbers and decide if now is a good time for you to build Real Estate Wealth.
Sellers
It is clear that property values are not what they were at one time. Many people we talk to are "Waiting for the Market to Come Back" and we can respect that. We would love the opportunity to help you decipher when that will happen. In the mean time consider what a great time it is to make a move. While you may have "lost" a lot of value in your property so have other people. Depending on the move you would like to make, this may be a great time to sell and take advantage of great interest rates and low prices. Often are clients are shocked at what a great time it is to sell right now after considering the position they are in when it is time to buy the next home. Many sellers who were upset about the equity they did not have in their home were convinced they never would have been able to buy the home they purchased if the market was still as expensive as it was a few years ago.
Short Sales
We have been very successful in negotiating Short Sales with banks in behalf of our Sellers. We will make the process very easy on you by counseling you through the process and helping you prepare for each step in an organized and structured way. The banks have become much easier to work with, but only if we do things their way. Our way is their way and our experience working for other sellers has taught us how to help you.
Bank Owned and REO Listings
We have made a decision to not represent banks and help them sell their foreclosed properties. We have made this decision so that we can dedicate all of our time to the clients we were working with Before the Market Boom, During the Market Crash, During our Current Stabilization and will be working with for years...decades into the future. This does not mean we have not been helping buyers negotiate great deals purchasing Bank Owned Properties. We stay in close contact with agents that do list properties for banks and always have the inside scoop. There are some great deals and we can help you take advantage on the purchase side. Rather that working with the agent who represents the needs of the bank, work with an agent that will be looking out for your best interests. Our fees are paid by the bank when you purchase a Bank Owned Property.
First Time Buyers
We love first time buyers! There is something very satisfying about helping someone get into their first home. We do an ongoing seminar to talk to people about buying their first home. We would be happy to invite you to a group seminar or sit down with you in private. Sometimes a client thinks they want to buy a home, but through our analysis of their needs, wishes, and future plans we suggest they rent instead of buy. We would love to take you through our "Rent vs. Buy Analysis" and help you decipher if now is the time for you to take advantage of the best time for a first time buyer to get into a home that we have ever seen.
Everyone
We are here to educate. We spend time every day deep in the trenches of the real estate market. There is a ton of misused and misinterpreted information about the real estate market these days. It is hard to make a decision about how or what to do with the poor quality of information most people seem to have. We have access to and are always keeping an eye on accurate information and we know how to interpret it. Please let us sit down with you and educate you about where the market is really at.
Arizona has been a hub for investors for the past decade. Unfortunately over the past few years a major shift in our market has caused our values to dramatically decrease in price. This has been a double edged sword. Many people have been put into a terrible financial position because of this drop in prices and yet we now have a unique opportunity to invest in Real Estate while prices are low, interest rates are low and rental rates are high. Contact us to talk about a long term or short term investment. We can help you analyze the numbers and decide if now is a good time for you to build Real Estate Wealth.
Sellers
It is clear that property values are not what they were at one time. Many people we talk to are "Waiting for the Market to Come Back" and we can respect that. We would love the opportunity to help you decipher when that will happen. In the mean time consider what a great time it is to make a move. While you may have "lost" a lot of value in your property so have other people. Depending on the move you would like to make, this may be a great time to sell and take advantage of great interest rates and low prices. Often are clients are shocked at what a great time it is to sell right now after considering the position they are in when it is time to buy the next home. Many sellers who were upset about the equity they did not have in their home were convinced they never would have been able to buy the home they purchased if the market was still as expensive as it was a few years ago.
Short Sales
We have been very successful in negotiating Short Sales with banks in behalf of our Sellers. We will make the process very easy on you by counseling you through the process and helping you prepare for each step in an organized and structured way. The banks have become much easier to work with, but only if we do things their way. Our way is their way and our experience working for other sellers has taught us how to help you.
Bank Owned and REO Listings
We have made a decision to not represent banks and help them sell their foreclosed properties. We have made this decision so that we can dedicate all of our time to the clients we were working with Before the Market Boom, During the Market Crash, During our Current Stabilization and will be working with for years...decades into the future. This does not mean we have not been helping buyers negotiate great deals purchasing Bank Owned Properties. We stay in close contact with agents that do list properties for banks and always have the inside scoop. There are some great deals and we can help you take advantage on the purchase side. Rather that working with the agent who represents the needs of the bank, work with an agent that will be looking out for your best interests. Our fees are paid by the bank when you purchase a Bank Owned Property.
First Time Buyers
We love first time buyers! There is something very satisfying about helping someone get into their first home. We do an ongoing seminar to talk to people about buying their first home. We would be happy to invite you to a group seminar or sit down with you in private. Sometimes a client thinks they want to buy a home, but through our analysis of their needs, wishes, and future plans we suggest they rent instead of buy. We would love to take you through our "Rent vs. Buy Analysis" and help you decipher if now is the time for you to take advantage of the best time for a first time buyer to get into a home that we have ever seen.
Everyone
We are here to educate. We spend time every day deep in the trenches of the real estate market. There is a ton of misused and misinterpreted information about the real estate market these days. It is hard to make a decision about how or what to do with the poor quality of information most people seem to have. We have access to and are always keeping an eye on accurate information and we know how to interpret it. Please let us sit down with you and educate you about where the market is really at.