Copy of MLS 2000-2009Hello all,

I hope everyone enjoyed the holiday season.  My girlfriend and I chose to spend the last week of the year in Cabo San Lucas.  With it being just a 2 hour direct flight from Phoenix to Cabo, I would highly recommend the trip.  If learning to surf is of interest to you, I would suggest you check in with Alex and Sara who own the surf shop Costa Azul. www.costa-azul.com.mx/

The attached picture is me just 20 minutes into a 1 hour lesson with Alex.   Clearly he must be skilled as an instructor! J

Now onto a recap of the 2009 Real Estate Market in Arizona.  As you can see from the attached PDF, 2009 had the 3^rd highest number of sales over the last 9 years.  Only 2004 and 2005 saw more closings for a given year.  With us averaging 7,729 sales per month, and our average inventory sitting just over 30,000 we have a 4 month inventory which would be considered healthy by most standards.  When we look closer we see the months of inventory under $100K are less than 2, whereas  the price range over $1,000,000 has a whopping 38 months of inventory!

Forecast: Like the weather in Cabo, we do not see major changes in our Real Estate Market for 2010.  Short sales and Bank Owned properties will continue to dominate the market.  We do see the price range over $500,000 getting hit hard now and for the rest of 2010.  The number of qualified buyers qualified for homes over $500,000 has dwindled while many people who own in this price range have exhausted their savings and are now facing the reality that it is time to sell.  Quite often this means via the short sale route.

Buyers: As a qualified buyer you will enjoy the ability to pick up properties at a great price.  In the price range under $200,000 there are lots of buyers and thus the competition can be fierce.  Once you get over $400,000 there are less qualified buyers and deals are there for the taking.  Our entire group work as full time professionals in the Real Estate field, and are here to help you negotiate a great price on your next purchase.

Sellers: If you are willing and able to price your home at current Fair Market Value, there are plenty of buyers in today’s market.  If you overprice your home you can expect to see it remain on the market for months to come.   With 148 closed transactions in 2009, we know the current market well and can best advise you on how to get top dollar for your home.

If you find yourself in Cabo in 2010, visit Alex and Sara and tell them “Gringo Williamson says Hello”

Haz de este año algo grandioso!

Good evening,

By far the number one question we are asked goes something like this.  “So you are in Real Estate.  How is the market?”

Our response is always the same..  “Great Question.  Why do you ask?”

Clearly the answer is very different depending on what side of the fence you find yourself.  From the attached PDF’s, here is a brief synapse of the Arizona Real Estate Market.

Copy of MLS: For March there were 9,003 sales!  This is the second highest number of closings for a March in the last 11 years.  Clearly there are plenty of buyers “looking for a deal” in the Arizona market.  With the new home buyers incentive ending on April 30^th, it will be interesting to see how are market fairs without outside stimuli. Also note that our ACTIVE inventory has stabilized to a range of 30,000-35,000 properties for sale.

Dec-March 2010:  90% of the sales for March were under $300K.  Across the board we are seeing the months of ACTIVE inventory dropping.  For the price range over $500K there are still over 12 months of inventory available.  68% of the sales for March were distressed sellers (Banks or Short Sales).  This keeps values down and forces Equity Sellers to price their homes competitively if they want to attract a ready and willing buyer.

Foreclosure vs. Short Sale: With our local Real Estate market correcting anywhere from 35%-85% over the last 3 years, a good number of homeowners in Arizona are in the situation where their home is worth less than what they owe.  This becomes an issue if selling the property becomes a necessity.  The attached PDF shows the difference between a short sale and a foreclosure.  If you or someone you know is in this situation, we can help remove some of the uncertainty surrounding this decision.  With us partnering up with Home Helper Consultants we were able to successfully close 24 short sale transactions in March.   Doing nothing is rarely the best option.

Here’s to a great 2010!