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Spring 2012 Market Update
The club at Desert Mountain is now Member Owned and has grown to nearly 9000 acres. All the negative commentaries were wrong. The club is terrific and financially stable. You need a private tour from me to understand both the positive and negative aspects of the community. I am a member and I know what is going on.
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| Average Home Price | $1,000,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 20-25% |
| Average Time on Market | 90-120 days |
| Best Selling Price Range | $1,000,000+ |
| Worst Selling Price Range | $100,000 - $149,000 |
| Prices As % of Asking Price | 85-90% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Desert Mountain is | Increasing |
| Seller Activity for the past 90 days in Desert Mountain is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Distress properties sell very quickly, often with multiple offers the same day the listing goes on the market. The amount of distress listings has dropped below 10 percent of the market. The time to buy an easy bargain is nearly expired. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Generally expect to put down 30% |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | The supply of homes has decreased 30 percent this past year as prices settled at levels unseen since 2003. Median price is now 1.375m when it was 1.850. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection in the top golf community in the nation are reasons to buy in Desert Mountain! |
| Nearest Metro Area | Scottsdale |
| Housing Hot Spots | Most of Scottsdale has stabilized. There are terrific deals to be had yet certain properties in Scottsdale mayl see additional declines in the next 12 months. |
| Average Sold Price | $1,000,000 - View Graph Trend |
Desert Mountain Local News
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Mortgage Rates
– May 28th, 2012 –
---------------------------------
30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
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