Some of Arizona’s most Successful Agents call John Hall & Associates home.
Tag Archive: Phoenix Real Estate
Phoenix Real Estate News & Market Report
What a difference a day makes (or was it just a system quirk). On 2/1, I was about to report that January’s closings were below 6000 for the first time in a year. But since yesterday was a busy news day (more on that later), I was unable to write or report on my first January data pull. So in preparation for reporting today, I updated my report and was shocked to have 678 more sales for January. Oh well, I report the numbers, I don’t make them up; so here goes based on my 2/2 reading for January’s closings.
1/11 had 6540 closings down 22% from Dec 10; up 13% from Jan 10. 1/11 had 3103 REO closings which is 47%; Short Sales (SS) had 1498 Closings or 23%. 1/11 prices averaged $157,000-down 2% from Dec 10; the Median was $110,000 down slightly from Dec 10. We are now in the ‘double dip’ for prices, as January’s prices are below the previous bottom (April 09). This is happening because of the prices for REO sales, which in January averaged $111,000 or $46,000 less than the average for ALL sales. The percent of REO sales was down slightly last month but SS were up. The Distress sale (REO + SS) percentage stayed at 70% of all sales.
On the Foreclosure (FC) front the monthly activity compared to Dec 10 was as follows:
- Notices were up 18% to 6783;
- Completed FC were up 30% to 4585;
- Cancelled FC were down 3% to 2945;
- Active Notices were down 4% to 39,958;
- Bank Owned properties equal 19,411 up 3%
The increase in completed FC is the beginning of the ‘catch up’ for the banks’ 60 moratorium, which was lifted in early December. Otherwise 1/11 tracked closely to 1/10 with the exception of the number of Active Notices is down almost 10,000 or 20%; and Bank owned inventory climbed 5000+ or 31% in a year.
Yesterday was a busy news day because of all of the announcements: AAR’s monthly magazine published all the form changes effective 2/28 complete with sample forms and FAQ’s; and then AAR and DRE published their new announcements concerning Short Sale Negotiators, MARS and fees. These announcements contained lots of NEW information to be aware of and absorb. Certainly it will be changing the industry as licensees need to comply with the Short Sale changes by 3/1/11. More on www.aaronline.com.
Local RSS Feeds For Your Real Estate Website
You know RSS feeds are catching on in popularity when you even see government websites pushing them. More and more REALTORS® are taking advantage of the increase in their availability by displaying niche targeted feeds on their real estate websites. It’s the simplest way that I know of to provide updated content to your website visitors – set it and forget it. Here is a little more info about what they are and some of my favorite feeds for REALTORS®.
What are RSS feeds?
No need for super technical definitions, RSS feeds are automatic notifications of new content. RSS feeds need 2 things to work, a pusher and a puller. Be on the lookout for the orange RSS logo to help identify the pusher websites.
Display them on your real estate website by using a tool that pulls them. Some website providers include RSS feed pullers/readers as a part of their web tools. If your site is built on WordPress there are a variety of plugins and themes you can use. If your site does not have anything to pull the feeds, you can make an RSS widget here.
Superlative Websites come with a Wall Street Journal RSS feed displayed on the homepage by default. My recommendation is to remove the national real estate news feed and replace it with a local real estate news feed. Here’s the Superlative tutorial on how to install/edit RSS feeds on your website.
Local RSS Feeds
RSS feeds can be used to help provide site visitors with good local information. Let’s say you have a website or web page designed to provide info about a particular city. Adding an RSS feed from that city’s visitor’s bureau, government site, or police department will ensure the page never gets stale. Here are a few to get you started…
- Phoenix RSS feeds
- Tempe.gov RSS feeds and Tempe Visitor’s Bureau’s RSS feeds
- Scottsdale RSS feeds
- Fountain Hills RSS feed
- Surprise RSS feeds
- Mesa RSS feeds
- Goodyear RSS feeds
- Avondale RSS feeds
- Cave Creek RSS feeds
If I didn’t list the city you specialize in, visit their government page or visitor’s bureau and look for the orange RSS icon. (Hint: If you’re having trouble finding feeds, AZCentral.com has a lot of them and the Phoenix Business Journal has a good one.)
Local Real Estate Feeds
Like the national weather forecast, national real estate feeds aren’t always relevant for the greater Phoenix home buyer or seller. John Hall & Associates and Arizona Republic reporter Catherine Reagor both provide greater Phoenix real estate RSS feeds that have much more relevant real estate information than any national news feed.
Now it’s your turn. Find city feeds for your city pages. Find a Buyer feed for your buyer’s page. Find a Seller feed for your seller’s page. Access the back-end of your website, set ‘em and forget ‘em. Don’t be shy – speak up if you need help: 602.953.4043 (ask for Phil).
Greater Phoenix Short Sale Market Report
For last week’s short sale seminar Old Republic Title commissioned Michael Orr to create a special report explaining the state of the short sale market in greater Phoenix. The report has been posted to Old Republic’s NewLeading EdgeUcation.com website. Here’s a direct link to the 10 page pdf.
Have a safe Memorial Day weekend.
Phoenix’s Bank Owned Home Numbers
Tom Ruff of the Information Market posted March’s foreclosure numbers recently, which caught my eye regarding the REO market in Maricopa County.
Let me explain. March had 8045 Notices posted which was a 6% increase over February. While that may sound like bad news remember March had 3 more ‘business’ days and the 2010 numbers were 25% below March 2009.
The number of ‘Canceled’ Foreclosures was 3747-the highest month ever. More Short Sales and Loan Mods? (Probably) The Canceled numbers were 7% higher than 2/10 and 15% higher than 3/9. Again starting to sound like good news.
The banks completed 5556 Trustee sales, also the highest month on record. This may be attributed to the longer month and/or the end of a quarter. With the completed sales and the canceled sales, the month showed a 1314 drop in “Bank Owned” properties-the current Shadow Inventory. In fact the number of Bank Owned dropped 2634 for the quarter, the first drop for a quarter since Q1 2006. Wow some might be starting to think the ship is turning.
I did some personal study of the 16,342 current ‘Bank Owned’ properties. I found 4970 active in ARMLS; 384 AWC; 4524 Pending; and 203 Closed so far in April. That’s approximately 10,000 of the 16,000. Are the Bank Owned-but not on the market numbers growing? It appears so-Is that bad? Probably not. Remember the Fannie Mae program of ‘rent backs’ after foreclosure? Wouldn’t that lead to more ‘Bank Owned’ but not on the market?
Again thanks to Tom for his counting, reporting and explaining. It certainly helps to make some sense of what’s happening in today’s greater Metropolitan Phoenix market.
Greater Phoenix Real Estate Review: February 2010 Market Update
Is it possible? 2 months in the books for 2010 already! How’s the market?
February’s initial numbers show 6528 closed transactions – that’s +19% from February 2009. YTD increase is 21%. The big news for the next 30-60 days will probably be on the price front since February’s Avg. price shows a +$2000 increase over 2/09 and the Median price matched 2/09. We haven’t had a year over year increase in Avg. Sales Price in 30 months. That will be big news once the media starts reporting it.
Bank owned properties (REO’s) continue to fall and Short Sales (SS) rise.
REO’s for 1/10 were 2498 or 43% of closed transactions. 2/10 had 2587 REO’s or 40% of all closings. REO’s for 2009 totaled 55% of all closings.
SS’s for 1/10 were 1245 or 22% of closings. 2/10 had 1561 closings or 24%. 2009 total figures for SS’s were 14%.
As far as forecasting the next 30-60 days, Pending sales are strong with 12,151, and 6975 in AWC status. It certainly appears that buyers are acting to take advantage of the tax credit, which runs through 4/30.
Greater Phoenix Real Estate Review: January 2010 Market Update
1/10′s initial numbers are in and there’s mostly positive news.
ARMLS reports:
5762 Closings: Solds were up +22% from 1/09; but they were down -25% from 12/09.
10,657 Pendings: That’s +44% from 1/09; and +6% from 12/09.
REO’s make up 42% of the Closings; and 33% of Pendings; with a 2.2 month supply of Active Listings that are REO’s.
Short Sales were 23% of the Closings; and 34% of Pendings; and 26% of Active Listings are Short Sales.
Sales Prices are down slightly from December 2009; they were -$1 per square foot; they were down $1,500 for the Average Sales Price; and the Median Sales Price was unchanged. The Pending price picture indicates lower prices for the next 30 days or so.
These are the preliminary numbers and they will change for the rest of this week as actual sales are reported and scheduled closings that closed late are corrected. Stay tuned for our Market Updates.
December Home Sales Plunge? Not in Phoenix…
Thank you Bob Bemis (CEO of ARMLS) for successfully sharing with Fox News viewers facts from the Phoenix real estate market.
Supra Lockbox Management – Flexmls Feature Friday
Welcome to this “awareness” f-cubed. Thanks to a conversation with Sharon Glick over on the John Hall & Associates facebook page, we’ve been made aware some agents may not know Supra lockbox functions are available from within flexmls.
Happy F³.
Designated Broker Office
|  |
Copyright © 2012 John Hall & Associates | Phoenix AZ Real Estate Agency | Contact Us | Privacy Policy | Comment Policy