Phoenix Tatum and Bell Foothills Home Sales Report for March 2011
Hi this is Jeff Cameron with Keller Williams here in Scottsdale Arizona. Welcome to your place on line to get the real estate facts. Today we are reviewing the single family home sales for March 2011 for the neighborhood at Tatum and Bell, I call the Foothills neighborhood due to the elementary school right in the middle. This report is for the tile roof homes built from around 1990 to 1996, with a few other in-fills later on. So, let’s get to the numbers!
AVAILABLE HOMES – as of the end of March there were 28 homes listed for sale, that is 7% decline from last month. But pretty close to the average of the past year.
21 homes are UNDER CONTRACT which is up from 17 last month or up 24%, the peak level of Pending homes over the last year was 23. We are close to that peak.
Closed homes in March are 12, up from 7 the previous to months. This is a 71% increase and the best month of closings.
What does this all mean? Inventory is down, sales are up. These are good stats! But why do we see prices declining. The answer is desperate short sales. In some cases, it is the desperate short sale Realtor in my opinion. I see some of the homes in your area listed so low, why aren’t they selling.
What’s happening is the buyers are not willing to buy a poor condition short sale.
Those homes are being priced so low, the buyer’s agent is saying the bank will never accept that.
My experience is that in most cases the bank will not. We are seeing counter offers on EVERY short sale from the bank.
Some of these homes just need to foreclose.
Help your neighborhood, help values. Do you know someone thinking of selling as a short sale. Have them call me first and get an experienced opinion. No risk no obligation, you can use your buddy the realtor after we meet. But let me guide you on the market, process and how it works best for you.
Thanks…This is Jeff Cameron with Keller Williams. I have been selling this neighborhood for over 15 years, with over 150 sales. I can help you too!
Call me now 480-502-7699
480-652-2004