Scottsdale and McDowell Mountain Ranch Home Sales Report for February 2011 by Realtor Jeff Cameron
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 February 2011 in Scottsdale and McDowell Mountain Ranch. So, let’s get to the numbers!
Available single family homes in Scottsdale are 2,490, down 4% from last month.
Pending and AWC in Scottsdale are 875 up 6.1% from January.
Closed home sales in Scottsdale for February is 379 up 16.6% from January.
Average price per square foot was down .1% to $151.89.
When we look at months of supply we have 6.6 month supply. However, I would suggest that there are several different markets in Scottsdale, the under $350k, 350-500, and the luxury market. The market is stronger at the lower price points and weaker in the luxury market. Everything is relative to value. In Scottsdale we see big swings in similar homes due to views, upgrades, and condition.
My personal experience in Scottsdale is my listings are selling!
On the luxury front, please check out my video tour of the Bank Owned steal of a deal I have in Whisper Rock. The buyer that can afford this home will get huge returns in the future.
Scottsdale’s rental market is on fire. As investors focus on the $150k and below market, few rentals are being purchased in places like McDowell Mountain Ranch and rental rates are up stron
Speaking of McDowell Mountain Ranch, what are the home sales doing there? Let’s look at the numbers.
There are 82 homes active, up from 80. 42 homes are pending or under contract and 20 closed escrow last month. It was good to see closings jump back to a more normal range after averaging 15 over the last 6 months. The average price per square foot was down 1.7% at $172.55 and that’s down 10.9% from this time last year.
We just sold 2 homes in McDowell Mountain Ranch, one in Sonoran Fairways and another in Monticito. Right after selling the one in Sonoran Fairways, which was on the market several months, I got a call from a buyer. That home would have been perfect. What I found was very few replacement homes to show them. Another good sign of a bottom. However, the market is different in the $350k range than the $1mm range, but at any value range a properly priced homes gets showings and sells.
That’s it for this month. Now is the time to make a good decision. If you have the ability to buy an investment home with 20% down, call me. These deals will not last long! How does 20% cash on cash return sound??
This is Jeff Cameron your McDowell Mountain Ranch and Scottsdale resident and real estate specialist. Have questions about the market, need information about ending the misery through short sale, call me and I will help you get the right answers so you can make an informed decision.
Remember, we sold a home last August to a Short Seller in less than a year from his short sale. That buyer I mentioned before, did a BK a few years ago and now qualify to buy again. What a great opportunity to enter the market at today’s values.
Are you a buyer looking to purchase a Short Sale Home at a Great Price? If so, you want to be aware of the fact that some listing agents continue to search out other buyers, keep the home on the market for sale, have other offers and when they get a response from the bank they go back to ALL the buyers looking for highest and best. When you buy a Short Sale, you want an agent that knows the ins and outs. What to look for to secure as the only buyer for that home, The Cameron Team and our buyer specialists are experts in Short Sales and Bank Owned Foreclosure homes. We know the tricks and are your best choice. Call 480-502-7699 or email Jeff@TheCameronTeam.com
Are you a Seller Looking to sell your home in a Short Sale? Before you act, know your options. We have videos that walk you through the process in the privacy of your own home at what every time you wish to watch as many times as possible!
the links below will take you there:
Before Foreclosure and Short Sale: What are my Options?
Before Foreclosure and Short Sale: Save my Home!
Before Foreclosure and Short Sale:
Before Foreclosure and Short Sale: Save my Credit Through Short Sale
Before Foreclosure and Short Sale: Last Step – How to Clean up My Credit!
Or for a Free 1 hour consultation and a referral to an Attorney for 5-10 minute Free consultation call me at 480-502-7699 or click here to contact me!
480-652-2004