Information And Advice You Can Trust

 

Market Notes February 7, 2010: Active listings in the area dropped slightly to 601 homes, listing at an average of $56.41 per square foot. There are currently 347 homes pending close of escrow, and yet again, another 50+ homes closed escrow last week bringing that number now to 195 homes sold, closing at an average of $50.89 per square foot. The pace of the market for the first five weeks of the year is certainly trending with last year's record pace, and considering the amount of inventory of homes in default and currently held by the bank, 2010 will be another great year to secure that investment, second home, or primary residence. Overall, home values in the aggregate Phoenix market are trending flat, and that is certainly the case in the Maricopa market, with all value indicators remaing very consistent over the last several months.  However, there remains a huge amount of "shadow" inventory, (homes in the foreclosure process that have not yet emerged on the market), and those people with loans that are soon to realize their ARM adjustments, which could also lead to more defaults, and because of this, some experts are predicting another slight dip in the market in the 3rd quarter of this year, as supply may outpace demand. That being said, with low interest rates, low home values and the current financial incentives, there has never been a better time to buy a home. There are currently 113 bank owned homes on the market, 181 investor owned & HUD homes available, and 290 short sale homes. The Maricopa Real Estate Co. is the number one listing office in the area, so if you have had difficulty securing that second home or primary residence, give one of us a call, we'd be happy to help. And remember, don't miss your chance to get a piece of the Valley of the Sun.

 

 Thank you for visiting our website, where you'll find information not only on all Maricopa, Casa Grande, Queen Creek and Chandler listings, but the greater Phoenix Valley as well. Should you need any addtional information on the area, or any particular property, call or e-mail us at any time. 

We look forward to working with you.