MARKET DATA & PHILANTHROPY          |          TESTIMONIALS


Tuesday, December 13, 2016

December 2016 Real Estate Market Update!




Listings Under Contract Up 2.6%

Monthly Closed Sales Up 19%


For Buyers:There’s both good and bad news for first-time home buyers this month. The good news is that there’s been a 22% increase in single family active listings asking between $175,000-$200,000 over the last 10 weeks, going from 1,065 to 1,295. Current inventory is 10% higher than where it was in week 49 of last year, adding some much needed choice to a high demand price range. The added supply is not universal across the valley; increases have been marked specifically in Buckeye, Surprise, Sun City, Peoria and Mesa.
The bad news for home buyers is that supply overall is down 3.7% while the level of competing buyers is remaining seasonally consistent. The Southeast Valley specifically has not seen the typical increase in supply that happens this time of year. This indicates that the area will kick off 2017 with low supply just before the expected increase in buyer activity come February. In this case, the cost of waiting to purchase will be a lack of choice and possibly having to compromise on the condition or location of the property they choose to buy.

For Sellers:Bad news for buyers usually translates into good news for sellers, especially after positive news reports of Realtor.com ranking Phoenix as the #1 projected real estate market in the country for 2017. However, it’s still not a market to be overpriced regardless of the strong demand for homes. Some price ranges have more competing listings than others, especially in areas such as North Phoenix, Mesa, Gilbert and Peoria where there is competition from new home subdivisions. Permits for single family homes have been on the rise to accommodate the demand. This provides more choice for buyers in those areas, balances out the market and keeps annual appreciation in check. The areas projected to have the highest appreciation rates are those where there is a high level of fix and flip activity along with a more affordable price range under $175,000.



Commentary written by: Tina Tamboer, Senior Real Estate Analyst | The Cromford Report

Tuesday, November 8, 2016

Real Estate Market Update for November 2016

New Listings Under $300,000 Down 10% in October 
Average Sales Price per Square Foot Up 8%

For Buyers:
October was a disappointing month for new active listings under $300,000. Normally October is a good month to buy as there is a boost of new listings without an increase in competing buyers. This rang true for new listings between $300,000 and $1,000,000 (up nearly 7%). New listings over $1,000,000 were down by nearly 14%, however this price point has been suffering from oversupply most of the year and the drop only equated to 57 fewer new listings in the past month. More importantly, new listings under $300,000 were down by nearly 10% with 669 fewer new listings than this time last year. For a price range that is already undersupplied for the current demand, this was not good news for buyers. The fact that sales under $300,000 comprised 72% of all sales in the past month tells us to expect prices to continue rising with the current lack of new supply hitting the market.

For Sellers:
Undersupply for listings under $300,000 has had a positive effect on sellers. The Monthly Average Sales Price per Square Foot in this price point went up 8.4% from $110.42 last November to $119.72 this November. The $300,000 - $500,000 price range saw this measure go from $146.03 to $151.50, up 3.7%. The $500,000 -$1,000,000 price range increased 1.2% from $196.65 to $199.03; the over $1,000,000 price range increased by 12.3% from $308.73 to $346.68 (with only 108 sales in this price point, average price measures will fluctuate dramatically from month to month).

Average Days on Market is still very good for sellers under $300,000 at 61 days. The measure increases to 91 days within $300,000-$500,000; 142 days within $500,000-$1,000,000; and 191 days Over $1,000,000.




Commentary written by Tina Tamboer, Senior Real Estate Analyst with The Cromford Report ©2016 Cromford Associates LLC and Tamboer Consul ng LLC

Real Estate Market Update for November 2016

New Listings Under $300,000 Down 10% in October 
Average Sales Price per Square Foot Up 8%
For Buyers:
October was a disappointing month for new active listings under $300,000. Normally October is a good month to buy as there is a boost of new listings without an increase in competing buyers. This rang true for new listings between $300,000 and $1,000,000 (up nearly 7%). New listings over $1,000,000 were down by nearly 14%, however this price point has been suffering from oversupply most of the year and the drop only equated to 57 fewer new listings in the past month. More importantly, new listings under $300,000 were down by nearly 10% with 669 fewer new listings than this time last year. For a price range that is already undersupplied for the current demand, this was not good news for buyers. The fact that sales under $300,000 comprised 72% of all sales in the past month tells us to expect prices to continue rising with the current lack of new supply hitting the market.

For Sellers:
Undersupply for listings under $300,000 has had a positive effect on sellers. The Monthly Average Sales Price per Square Foot in this price point went up 8.4% from $110.42 last November to $119.72 this November. The $300,000 - $500,000 price range saw this measure go from $146.03 to $151.50, up 3.7%. The $500,000 -$1,000,000 price range increased 1.2% from $196.65 to $199.03; the over $1,000,000 price range increased by 12.3% from $308.73 to $346.68 (with only 108 sales in this price point, average price measures will fluctuate dramatically from month to month).

Average Days on Market is still very good for sellers under $300,000 at 61 days. The measure increases to 91 days within $300,000-$500,000; 142 days within $500,000-$1,000,000; and 191 days Over $1,000,000.




Commentary written by Tina Tamboer, Senior Real Estate Analyst with The Cromford Report ©2016 Cromford Associates LLC and Tamboer Consul ng LLC

Wednesday, October 5, 2016

Congratulations to our 3rd Quarter Buyers & Sellers!

Donations to local charities were made in honor of these clients!
You Refer....We Donate!



Congratulations to Dr. Angela Arreola and Daniel Giese on the purchase of their home in downtown Phoenix. We found a 1956 home near Downtown Phoenix that had been completely remodeled. After some interesting and frustrating moments with the seller and his repairs, Angela and Daniel have a wonderful property in a fantastic location. Angela is now busy with her residency and Daniel is busy making their house into their home! Congrats!



Dr. Jabraan Pasha moved to Scottsdale several years ago to begin his residency at Mayo Clinic, Scottsdale. He bought a small condo and then rented it out for a few years when he moved to Tulsa. He decided to sell this year and an agent that was my first mentor when I was new to real estate brought us a fabulous cash buyer! Congratulations to Jabraan and please come back to visit soon!


Thank you, Jim Keely, for referring Maureen and Frank Pena. I was honored to be the agent to sell their home and help them buy another nearby. Maureen and Frank have become good friends and their new home is perfect for them. It even has a  built-in desk that we did not find (because it was inside a closet) until after they were in escrow! Congrats to the Penas!



Marci Rosenberg, a long-time family friend and land planner extraordinaire, has been home hunting for two years! After she and Larry Rock became a dynamic duo, the hunting took a more serious turn and a perfect home in the Coronado historic district magically appeared. It has been an honor and a privilege working with them on their lovely home and I wish them many happy years together!


Julia Perrine, a friend and co-worker from my years at Scottsdale Leadership, honored me by selecting me as her REALTOR. Julia and Ken Hurst are starting a new chapter together and needed an amazing home to begin. They found one and the bonus is its wonderful views! In addition, Marlys sold a home on the same street to her new buyers are now their awesome neighbors! Congrats to everyone!

I helped Stacy Donlon find her Phoenix home five years ago. Now she, Brian and daughter Leocadia are moving to Washington. Stacy and Brian updated their home before selling and the results brought them multiple offers and full price buyers. We all met the new buyers who are thrilled with their wonderful new home. I will miss Stacy and her family but wish them my very best in Washington!

Marlys and I have had the pleasure of working together to help very dear friends find their new home in Scottsdale. It took over two years to find the house that could hold their visiting family members and give them the lifestyle they love. Their new home is beautiful, is within walking distance of restaurants, has access to a playground for the grand kids, and is close to freeways. What more could they ask for (other than a pool that is a little less green!) Our sincerest wishes for many years in their new casa!



Dr. Matthew and Elizabeth Graves from Oklahoma had about six weeks to find a home and close before his residency and her teaching contract would begin. In addition, they could only be here for about 30 hours to look at as many homes as possible. 18 houses later, we did not have a house but we zeroed in on the zip code they wanted. They searched the internet and MLS for homes and Marlys hit the ground running to see them before other buyers could offer! Once they had the house, Elizabeth's father attended the inspection, gave his blessing on the home, and we waited for them to arrive and see the house for the first time. They loved it and are now settled in, enjoying the fact that there are no tornadoes or hail storms in Phoenix!


In 2013 Evan and Jo Bookbinder moved from Phoenix to Dallas with their two daughters, Maya and Kira. 3 years later they called me to say they were coming back. We are so excited to have the Bookbinders back in Phoenix. I had such a great time working with them again and I know this home will be even more beautiful when they give it their magic touch!

Congratulations, everyone! And, we are never too busy for any of your referrals! 

Monday, June 27, 2016

Congratulations to our Second Quarter Buyers & Sellers!


Five years ago Nina Alling and her family arrived in Phoenix and what an impact they all have made on my life and that of my children. Nina, Chloe, Abbie and Audrey are off on a new adventure to Pennsylvania and we will miss you dearly. Thank you for the privilege of selling your home to a new family that can begin their own adventures. We will see you soon when we visit Pennsylvania – Hershey Park here we come!


Congratulations to Frank & Maureen Pena on the purchase of their new home in Scottsdale. Thank you to Jim Keeley for the referral, as I now have new clients and good friends. I have truly enjoyed working with the Penas and now it’s time to get their home on Celtic sold! It has been a pleasure!


Drs. Matt Breite and Christine Giesing are in the midst of a whirlwind of fun. Both just graduated – Matt from medical school and Christine from pharmacy school. They are off to get married and honeymoon before relocating to the Valley of the Sun where Matt will be a resident at Mayo Hospital. It was a pleasure working with Matt and his dad to find a new home for the newlyweds! Congrats and we look forward to having you here in Phoenix.



I met Michael Lehrer at the very end of an open house. Michael is a recent medical school graduate and incoming resident for Mayo Hospital. When he discovered that my business is primarily with doctors, and that I have great connections for Physician Loans, we started looking for a condo. After just a few weeks, Michael purchased a great home that he is now remodeling in time for his residency to start. I cannot wait to see the finished product!



Thank you Russel Gundlach & Angel Chambers for referring Taylor and Patrick Harberd. We moved quickly to get their home on the market as Patrick’s job with Fender required that they move fast. Just as we were getting ready to list on MLS, we found out Alexis MacDonald matched for residency at Dignity Health. We knew Alexis would love this house and she did! Taylor and Patrick’s home sold to Alexis and they were able to lease the home back until they moved to Los Angeles. So sad to see them go, but very excited for Taylor and Patrick to start their new life.


Congrats to Dr. Camila and Robert Maestas who recently purchased a beautiful home near South Mountain. Robert and Camila are relocating here from Albuquerque for Camila’s residency at Banner University Medical Center in downtown Phoenix. They had to extend their stay because the houses they liked were selling fast but they moved quickly and closed on a beautiful home that appraised slightly above purchase price – rare in today’s market! Congratulations and I look forward to having them near downtown – I see more chocolate chip cookies in their future!


Congratulations to my very good friend Jennifer Rubin who sold her home twice after it fell out of escrow with another buyer. Jennifer is newly married and she and her son, Eric, have moved into a beautiful home in North Scottsdale with her husband, Andrew Wells. Thanks to Jen for the trust she placed in me. I am so happy for her and so excited to watch her move into the next chapter of her life! Mazel Tov!

What a joy and privilege it has been this spring to work with long-time friends and clients! Mark & Christy Battiato have been searching for the right home in Phoenix for three years and this year the perfect house popped up: right location, right size, right price, beautiful finishes, many bonus features, and a mountain view! So nice to have them back in the Valley with family after a 17-year absence! Welcome back Mark, Christy, Sophia, and Brandon!



When is a school tax considered a property tax? We all learned that it happens on the east coast and that it will cause chaos in underwriting in Phoenix!! It was a nail biter to the end, but Alexis MacDonald got her final loan docs just in time for closing. She is now the proud owner of a wonderful home retreat that she can enjoy after her long days as a resident at Honor Health. So nice to have sold a home to a second generation for the Goodell/MacDonald family!!

Tuesday, June 14, 2016

June Real Estate Market Update

Total Monthly Sales Up 3.4%
Monthly Median Sales Price Up 6.5% to $226,900


For Buyers
Welcome to June!  The weather is heating up and Realtors are using oven mitts on lava-hot lockboxes and keys to show property.  If you’re planning to continue your search into the summer, you may find some relief in the competition for that perfect property.  While other potential buyers are distracted by graduations, vacations and weekend getaways, that leaves a slightly longer window of opportunity for snagging up those new properties that hit the market.  Don’t expect current price trends to change anytime soon. There is still more demand than supply in many areas under $500,000 so expect sales prices to continue rising through the summer, especially for properties under $200,000.
For Sellers
This month we’ve introduced the Listing Success Rate into our graphic.  This measure counts all of the listings that closed, canceled or expired over the last month and takes a percentage of those that closed.  The current measure is 76.7%, which is very positive considering it was 66% at the end of 2014.  The price ranges with the highest success rates are $100,000-$200,000 with 85% of listings successfully closing and only 15% cancelling or expiring followed by the $200,000-$300,000 price range with an 81% success rate.  The higher price ranges over $500,000 are seeing lower success rates with those over $1M seeing more properties cancel or expire in a month than close.   This is actually typical as many sellers in these price ranges choose to cancel their listings once temperatures reach over 100 degrees and relist when things cool off in October, causing a higher than normal cancellation rate for June.


The data used to create the Cromford® Report is obtained from public records and obtained under license from the Arizona Regional Multiple Listing Service, Inc (ARMLS). Cromford Associates LLC and ARMLS expressly disclaim and make no representations or warranties of any kind, whether express, implied or statutory, as to the accuracy of the data used or the merchantability or fitness for any particular purpose.

Tuesday, May 10, 2016

April Real Estate Market Update

April Market Update
Sales Up 7% Over 2015
Median Sales Price Up 6.4%
Active Listings Up 1%

For Buyers
For the first time since November 2014, supply is higher than it was the previous year. This is generally good news for buyers, as it means there are more listings competing for their attention. However, buyers looking for homes under $200,000 will find this is not true. The Phoenix Metropolitan area is still nearly 19% below normal in supply, with the lower price ranges in the shortest supply. Sales under $200,000 have made up 45.5% of all sales in the last 12 months, so this is a significant market to be in short supply. Buyers looking over $300,000 are experiencing an 11% increase in supply valley wide. The increased competition is resulting in a 19% increase in weekly price reductions compared to this time last year, especially among listings over $500,000.

For Sellers
The good news for sellers is that contracts in escrow are up 5% and sales are also up 7% over last year. Demand has been rising over the past month and seasonally is close to its highest level for buyer activity. Sellers who wish to list their home at the “peak” of buyer activity should not wait too much longer. April and May are typically the highest months for buyer activity before slowing down in the summer months. This is especially true in the luxury market over $500,000. It’s not uncommon for buyer contract activity to drop anywhere from 25%-40% between May and August as seasonal buyers head towards cooler climates.


Friday, April 1, 2016

Congratulations to Our 1st Quarter Buyers and Sellers!

 A donation was made to a local charity on behalf of these clients.

Duane Shearer – Nine years ago we met when Duane bought his Central Phoenix condo. He moved out of the country and last year informed me that that he was ready to sell! Unfortunately, his tenant had abandoned the condo and left quite a mess for Duane and family to clean. It took a great deal of time and effort to coordinate repairs between Phoenix and Pennsylvania and successfully close the sale! It is so rewarding when a client stays connected, trusts that everything will be done correctly, and moves forward.  All my best to Duane; I look forward to a trip to PA to visit him, his family, and Hershey Park!



Denise Pulk – Denise was referred by good friend and customer Beth Burnett and was a fabulous client! She knew exactly what she wanted and she bought the first condo she saw! We worked together to overcome the drama that can come with a sale, and she made it to the end. Now Denise is starting a new chapter in her life. She is an amazing woman and I am so pleased that I was her agent! Congratulations!!



Tanya Ngo – Referred by a past client and Tanya’s niece, Amy Ngo, Tanya flew in for a whirlwind weekend and found two homes immediately! She and her fiancé  narrowed it down to one and closed in two weeks! This may have set a new record for me! I am looking forward to having Tanya in Arizona and now the rest of the family needs to move here from California so that we can break more records! Congratulations to the Ngos!




Dawn and Carl Hunt – Past clients, Dawn and Carl, were ready to move into a bigger home to accommodate their growing family. Now they, with their daughter “B” and doggie, are living in Anthem where they are truly enjoying life in more square footage. I miss having them in the neighborhood, as does my “baby-crazy” 10-year-old daughter, but we plan to see them soon! Congratulations!



Andrea Cohen – Having known Andrea and her family for most of my life, it was a labor of love to help her and boyfriend Chris find an amazing home in Phoenix.  An inflexible seller made the transaction harder than it should have been, but Andrea and Chris made it through to closing with the help of Andrea’s parents and multiple contractors. I cannot wait to see the house once it is remodeled and truly reflects her tastes!  It is great to have Andrea within an easy drive of her family and friends!




Sara & Jan Acker – Our wonderful repeat clients, Sara and Jan, finally decided to stop being landlords and sell their DC Ranch condo. After finding out more than we wanted to know about Camelot Homes and how these houses were built, what windows the HOA would allow, and more, Sara and Jan received a great offer from a HomeSmart agent and her husband. The buyer is downsizing and Sara and Jan are reaping the reward of their investment. Congratulations Sara and Jan!