Market Summary for the Beginning of September as of September 3

21 Sep

Sales per Month: 8,734 in August – up nearly 3% from July and up 26.5% from this time last year.

Active Listings (including AWC): 26,820 on September 1 – down 3.5% from August 1 and down 37% from this time last year.

Active Listings (excluding AWC): 19,216 on September 1 – down 4.8% from August 1 and down 47% from this time last year.

Pending Sales: 11,508 on September 1, up 0.2% from August 1, and up 17% compared with this time last year.

Listing Success Rate: 74.4% on September 1 – almost the same as on August 1 and up significantly from 57.5% on September 1, 2010.

Contract Ratio: 99.5 on September 1, up from 94.5 on August 1 and 41.3 last year at this time.

Days Inventory: 99 on September 1, down from 105 on August 1 and 172 at this time last year

Cromford Market Index™: 155.6 on September 1, up from 151.5 on August 1 and 85.5 on September 1, 2010.

Sales Price as a Percentage of List: 96.79% on September 1, up from 96.55% on August 1 and 95.75% on September 1, 2010

So where is pricing now?

The lowest point so far for the monthly average sales price on ARMLS is $150,448 on August 25. The lowest point for the overall monthly average $/SF is $78.79, also on August 25. We are currently very slightly above that low point and drifting aimlessly.

The lowest point so far for overall monthly median sales price is $107,000 reached on February 22, with August 9, 17 and 18 all matching that level. We are currently above that low point – back around $110,000 with no clear sign of direction. In contrast to the spring, prices are now falling at the higher end of the market. The lower end has achieved stability in sales pricing while asking prices are strongly rising and pending prices are showing early signs of increases in certain markets. Competition among landlords for good rental homes is extremely strong and the markets in their favorite locations are very active.

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The HB 2001 Jobs Bill – Now for the part they didn’t tell you!

21 Sep

Are you living in a primary residence? If so, WATCH for your Property Notice of Valuation that you will receive for 2012. It will not be a postcard this year, but will be in the form of a legal size letter. NOTE: There will be an affidavit enclosed with the valuation.

Jobs Bill HB2001 signed by Governor Brewer on February 17, 2011 is intended to help businesses. BUT buried in the 214 page bill is a way to shift cost to homeowners. Under new legislation there is a new clause where in you must sign and send back the affidavit to receive The State General Fund Credit.

The affidavit must be completed and returned to the County Assessor within 60 days or the residential property will be reclassified as Class Four (rental) and your Property Taxes will go up as much as $600.00 depending on the homes value.

Don’t let this happen to you! Advise your friends and family members too!

Short Sale 4 Bedroom 3 Bathroom- SCARLETT CANYON

26 Aug

20440 17TH
Phoenix, az 85024
Short sale 4 bedroom home in Scarlett Canyon

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Mamta Jain

Real Estate Agent

Office: (602) 361-9292
Mobile: (602) 361-9292
Website: Visit Website

Price : $249,900
Bedrooms : 4
Bathrooms : 2.75
Square Foot : 2,235
Lot Size : 1
County : Maricopa
Property Type : Detached
Year Built : 1995
MLS Number : 4609465

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Property Description
SELLER IS OFFERING $3,000 FLOORING CREDIT. PICK YOUR OWN COLORS OR STYLE!! Amazing home in Scarlett Canyon backs to private mountain reserve with breathtaking mountain city light views! Very open with soaring ceilings in the living and dining room. Large great room with eat in kitchen. Guest bedroom and full bathroom downstairs. Unique catwalk style hallway looking down on the family room and dining room leads from the loft to the master bedroom. Master bedroom is spacious and has private balcony. Master bath has separate tub/shower. Backyard boasts a covered patio with new ceiling fan as well as a fireplace. The home sits next to the mountain and has view fencing to watch the wildlife and enjoy the serenity of nature. Do not miss this opportunity.
Features List
  • Scarlett Canyon
  • Scarlett Canyon home
  • Scarlett Canyon sale
  • 4 bedroom
  • 4 bedroom home
  • 4 bedrooma sale
  • Short sale
  • Short sale home
  • Short sale
  • Phoenix
  • Phoenix home
  • Phoenixa sale
  • Arizona
  • Arizona home
  • Arizona sale
  • 85024
  • 85024 home
  • 85024a sale
Equal Housing Opportunity.
Realty One Group :
5343 N. 16th St. Ste. 100 –
Phoenix
AZ
85016
: (602) 361-9292

Arizona Department of Real Estate-Informational Alert

24 Aug

August 23, 2011
Judy Lowe, Commissioner, Arizona Department of Real Estate Advisory.
During these challenging times, it is critical that all parties involved in the real estate industry are kept well informed as to any illegal misbehavior and/or activity. In a spirit of maintaining an open dialog with our licensees, the real estate industry and consumers, I am providing you with the warning issued on Monday, August 22, 2011 by the Arizona Attorney General Tom Horne.

AG HORNE WARNS HOMEOWNERS: MORTGAGE LAWSUIT SCAM HITS ARIZONA
PHOENIX (Monday, August 22, 2011) — Attorney General Tom Horne today issued a warning to consumers to be wary of any notices or advertisements that claim to offer homeowners facing foreclosure “complete forgiveness of the loan” or other monetary relief if they join a class-action lawsuit. Such ploys are likely a pretext to collect illegal up-front fees for foreclosure assistance.
In class action litigation, consumers generally do not have to pay to join, and most reputable firms will not charge a fee for attorneys to review your case or to determine if you are eligible to join a lawsuit. “The mortgage crisis is only made worse by predators who take advantage of consumers who are already facing the loss of their home,” Horne said. “State and federal law ban almost all types of up-front fees for foreclosure assistance. I am committed to prosecuting anyone who engages in this type of consumer fraud, and it is just as important that consumers be vigilant against these types of scams.”

The California Attorney General recently filed a lawsuit against California lawyer Philip Kramer, the Law Offices of Kramer & Kaslow, plus 19 other lawyer and non-lawyer individuals and companies, for deceptively marketing class action or “mass joinder” lawsuits. The defendants in that case are believed to have taken over $7 million in fees from homeowners in 17 states – including Arizona – after sending out hundreds of thousands of flyers advertising the program. The lawsuit alleges that the defendants advertised nationwide settlements against lenders that did not exist and that many servicers were not provided by lawyers or legal staff.

Notices may be mailed to homeowners or posted on their doors. Typically, the business claims that the fee they are charging is for a forensic audit of your loan documents to see if you are eligible to join the class action litigation. However, the Federal Trade Commission’s Mortgage Assistance Relief Services Rule (“MARS Rule”) contains a broad ban on requesting or collecting up-front fees for almost all types of mortgage assistance, including forensic audits related to foreclosure relief. Arizona’s foreclosure consultant statute also prohibits companies from collecting an up-front fee for assisting homeowners in foreclosure.
Foreclosure rescue companies may promise to refund your fee if you are not eligible to join the litigation. However, the Office’s experience with guaranteed refunds indicates that they are very difficult to obtain, or the company may disappear before the refund is paid. If you are facing foreclosure, refuse to pay up-front fees and instead contact the Arizona Foreclosure Prevention Helpline at (877) 448-1211 for free assistance provided by HUD approved housing counseling agencies.
If you feel you’ve been a victim of a class joinder scam or any other type of consumer fraud, please contact the Arizona Attorney General’s Office Consumer Information & Complaints Unit at (602) 542-5763 / (520) 628-6504 / (800) 352-8431. You can also file a consumer complaint online at: http://www.azag.gov/consumer/complaintform.html

Billions in the bank: Arizona companies faring well in tough economy

22 Aug

Corporations have risen to the challenge of a tough economy by making themselves stronger.
Shareholder-owned companies in Arizona and elsewhere have boosted their cash levels and shored up balance sheets by carefully watching costs, shelving expansion plans and holding off on hiring.
As a group, they have emerged as healthier, more flexible and in greater control of their own destinies. But the same trend also reflects an unwillingness by many firms to hire more workers until signs of a more reliable economic recovery emerge. Read more:

Fight back: How to Lower Your Property Taxes

22 Aug

Home prices are still going down in many markets. But your property-tax bill might well be going up. The good news: There are ways to fight back. Read more:

Forget the Stock Market. Buy a House.

22 Aug

With the Dow Jones Industrial Average down more than 400 points today, and many market experts predicting more volatility ahead, some advisers are recommending their clients put some of their cash to another use: To buy that house or summer home at the shore.
Potential homebuyers certainly have plenty of incentives: Home prices are still way down in many parts of the country, and mortgage rates are nearing their all-time lows. Consider: The benchmark 30-year fixed-rate mortgage fell 1 basis point this week, to 4.45 percent — just a few basis points above the record low hit in October 2010, according to the Bankrate.com national survey of large lenders. Freddie Mac, meanwhile, reported today that the 30-year fixed-rate mortgage averaged 4.15% for the week ended Aug. 18, its lowest reported rate in 50 years. Read more: