Archive for January, 2013

Phoenix Luxury Homes Move Slow

Wednesday, January 30th, 2013 azrealtycom No Comments »

The luxury market of $1,000,000+ continues to have the lowest absorption rate of any market segment. There was a 7% absorption rate for the last month. Only 71 properties in all of the MLS were sold for more that $1,000,000 in December 2012.

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Distressed Homes Continue Shrinking

Wednesday, January 30th, 2013 azrealtycom No Comments »

Short Sales represent 28% of the closings for Decemberfor. Lender Owned (REO) Sales represent 12% of the sales from last month. Total of Distressed Sales (Short Sales and REOs combined) accounted for 40% of the total sales for the month of December 2012. Meanwhile, Normal, non-distressed sales are 60% of the last month. Regular resales are […]

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Landlord Quick Tip – Damage-Proofing Your Rental

Tuesday, January 29th, 2013 azrealtycom No Comments »

You put a lot of money into your rental investment, so it makes sense to put some time upfront into making your rental property as damage-proof as possible. That way, you’re not spending thousands of dollars rehabbing the home after every tenant. Here are some great ideas to help you maximize your return on investment: […]

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January 27, 2013

Monday, January 28th, 2013 azrealtycom No Comments »

Metro Phoenix Housing¹ Market Snapshot January 27, 2013 City Active Pending Sales DOM² Avg $/SF Anthem 168 64 30 59 $127.84 Chandler 674 418 252 74 $114.52 Fountain Hills 234 56 34 95 $172.04 Gilbert 766 517 309 58 $109.18 Glendale 599 474 286 63 $85.10 Laveen 158 137 65 80 $65.75 Maricopa 558 259 113 85 $63.64 Mesa […]

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ARMLS RENT Check™ – Jan 22, 2013

Friday, January 25th, 2013 azrealtycom No Comments »

Metro Phoenix Rental Market Snapshot Median Lease $:  $1,095 vs $1,095 of Dec 2012, flat Average Lease $:  $1,245 vs $1,237 of Dec 2012, +0.65% Avg. Days on Market:  47 vs 44 of Dec 2012, +6.82% Rent Check Quotient™: 41% vs 46% of Dec 2012, -5% Rent Check Quotient™ (RCQ™) is derived by dividing the […]

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Loan Demand Rises as Rates Inch Up

Friday, January 25th, 2013 azrealtycom No Comments »

For the third consecutive week, mortgage applications rose, even as mortgage rates inched up slightly, the Mortgage Bankers Association reports. The bulk of the increase in applications this week came from a 7.7 percent rise in applications from refinancings. Applications for home purchases, viewed as a leading indicator for future home sales, rose 2.5 percent. […]

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Metro Phoenix Among Fastest-Growing Cities for Population and Economy

Thursday, January 24th, 2013 azrealtycom No Comments »

Forbes magazine named Phoenix as one of the fastest-growing cities in America. Forbes says the list was compiled by assessing the 100 most populous metropolitan statistical areas (MSAs) and their surrounding suburbs as defined by the U.S Office of Management and Budget. Factors assessed were the estimated rate of population growth for 2012 and 2013, […]

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What Did It Take to Get a Mortgage in 2012?

Monday, January 21st, 2013 azrealtycom No Comments »

Economists and housing experts have long been touting how difficult it is to get approved for a mortgage nowadays, as banks have tightened up their underwriting standards. So what is the average approved applicant coming to the table with? Ellie Mae recently released data showing what it took to get a mortgage in 2012. Sixty-two […]

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January 19, 2013

Sunday, January 20th, 2013 azrealtycom No Comments »

Metro Phoenix Housing¹ Market Snapshot January 19, 2013 City Active Pending Sales DOM² Avg $/SF Anthem 167 62 32 56 $115.61 Chandler 695 381 278 64 $113.94 Fountain Hills 238 44 39 94 $170.10 Gilbert 767 499 351 61 $109.62 Glendale 623 441 325 61 $84.31 Laveen 157 126 69 91 $64.21 Maricopa 579 226 121 91 $60.86 […]

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Arizona’s Top 50 High Schools by SAT Score

Friday, January 18th, 2013 azrealtycom No Comments »

The Arizona Department of Education has ranked the state’s high schools with the highest average SAT scores, with two charter schools taking the top two spots. The state education department added the average scores from each of the three test subjects on the SAT test: critical reading, math and writing. 1: BASIS Scottsdale, 2038 * […]

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