Market Update – October 3, 2014

Here is the Market Update for 3rd Qtr, 2014.

Please note that the Valley Wide graph represents all of the MLS. The table below that graph represents recordings for new and re-sales for Maricopa County.

We also offer a Market Update Book for you to use at listing appointments, at Open Houses or with Buyers. They are printed in full color!!! Just let us know how many you would like and a business development manager will bring them by your office. This will be Volume 3 2014.

Tip: These are great to use when managing your clients expectations. Point out the absorption rate by area to let them know how fast things are selling!

The Comments are:

Active Listings and Sales: Total active listings, (with no UCB/AWC) have gone up by 641 units over the last month. As of October 3rd we sit at 23,851 actives all property types. Sales are at 6368 for the last 30 days (October 3rd), down by 54 units from one month ago! We are currently sitting at a 3.7 months of supply, (based on Active listings with no UCB/AWC). Pending sales are down from the month before as of October 3rd, 5524 vs. one month ago at 6116. Traditionally, 3-4 months of supply indicate a balanced market. September re-sales and new sales in Maricopa County were 6930. In August 2014 they were 7203 . September 2013 was 7084 this is a 2 % decrease in year over year.

Absorption rate: Absorption rate is the percent of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

Northwest Valley 32% Peoria and Glendale 30% Apache Junction 30% Southeast Valley 31%

Median Price: The median price in Maricopa County for September 2014 was $206,000 in August 2014 it was $209,490. In September of 2013 it was $200,000 for a 3% increase!!!! In September 2008 it was $187,000 and in September 2002 it was $149,500!

The last graph gives you the average dollar per square foot of solds by month on a line chart going back one year.

Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 6% absorption rate for the last month. There were 69 properties in all of the MLS were sold for more than $1.0 million.

Use these with all of your clients, as a news letter and at open houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales and Marketing then Market Update for this info as well!

Equity Title has great marketing tools and programs to help you get more business – call any of our business development managers to set up an appointment!

MONTHS OF SUPPLY (with AWC/UCB listings) (Single Family Only)

East Valley: 3.3

Northwest: 3.1

Paradise Valley: 13.3

Luxury ($1mil+): 17.8

Southwest: 3.6

Peoria/Glendale: 3.4

Camelback Corridor: 3.9

Cave Creek: 4.9

Ahwatukee: 4.3

Scottsdale: 5.7

Apache Junction: 3.3

Fountain Hills: 8.9

Buckeye: 5.2

Desert Ridge & Tatum Corridor: 3.5

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A Little bit about one of Tempe’s Best Escrow Officer – Penny Esparza

A Little bit about one of Tempe’s Best Escrow Officer – Penny Esparza

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My Customers are my priority!

I began my career in escrow nearly 13 years ago, right here at Equity Title Agency. I knew quickly that this was the right career for me. From the numbers and problem solving to the customer service and relations, it was a perfect fit.

Whether it be residential resale, meets and bounds, commercial and beyond, I am familiar with the needs and requirements for each transaction. I am well versed in Foreign Investment, Tax Deferred Exchange programs, Reverse Mortgages and more.

I was born and raised here in the Valley of the Sun and have lived both in the North West Valley and South East Valley. I went to High School in Scottsdale. I am very familiar with the entire area and love all that Arizona has to offer. I received my bachelors degree from Pacific Union College and quickly after found a home at Equity Title Agency. I have a strong love of reading. I enjoy being in nature and spending time with my husband and two wonderful children.

I also enjoy sharing my knowledge and regularly teach classes for both new and seasoned agents. I also regularly participate in continued education, both as teacher and student.

The customer is the priority! I would love the opportunity to work with you and earn your business with my strong work ethic, knowledge and customer service. I’d also like the opportunity to see how I might be able to help you grow your business and increase your success.

Call me so I can show you how to get half off your escrow fees on your next listing!!!!!!!

Penny Esparza 480-756-8888
pennye@eta-az.com

Market Update Through July 3, 2014

Here is the Market Update through July 3rd, 2014. Please note that the Valley Wide graph represents all of the MLS. The table below that graph just represents recordings for new and re-sales for Maricopa County.

Because there are less swings in the Market we have decided to update you once per quarter. This is through June and the next market update will be through September!

We also offer a Market Update Book for you to use at listing appointments, at Open Houses or with Buyers. They are printed in full color!!! Just let any of our Business Development Mangers know how many you would like and we will bring them by your office. This will be Volume 2 2014.

Tip: These are great to use when managing your clients expectations. Point out the absorption rate by area to let them know how fast things are selling!

The Comments are:

Active Listings and Sales:Total active listings, (with no UCB/AWC) have gone down by 896 units over the last month. As of July 3rd we sit at 24,388 actives all property types. Sales are at 7389 for the last 30 days (July 3rd), up by 177 units from one month ago! We are currently sitting at a 3.3 months of supply, (based on Active listings with no UCB/AWC). Pending sales are down from the month before as of July 3rd, 6481 vs. one month ago at 7082. Traditionally, 3-4 months of supply indicate a balanced market. June re-sales and new sales in Maricopa County were 7855. In May 2014 they were 8208 . June 2013 was 8512 this is an 8% decrease in year over year.

Absorption rate: Absorption rate is the % of sales that are sold each month of the inventory. A higher percent means that inventory is moving at a faster rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

Northwest Valley 38%
Peoria and Glendale 33%
Apache Junction 32%
Desert Ridge 30%
Median Price: The median price in Maricopa County for June 2014 was $209,000 in May 2014 it was $202,000. In June of 2013 it was $193,085 for a 5% increase!!!! In June 2007 it was $257,000 and in June 2001 it was $142,000!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 4% of the closings for the last month. Distressed Sales (Short Sales and REOs combined) accounted for 10% of the total sales for in the last month. REO property sales equal to 6% of the sales for the last month. Normal non-distressed sales are now 90% of the total!!!!!

The last graph gives you the average dollar per square foot of solds by month on a line chart going back one year. Prices have risen by 35% since June of 2012!

Luxury: The Luxury Market of $1.0 Million and above continues to be the lowest absorption rate of any market segment. There was a 9% absorption rate for the last month. There were 118 properties in all of the MLS were sold for more than $1.0 million.

Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, as a news letter and at open houses! Everyone wants to know what is happening in Real Estate – Be the authority!! Remember that you can always go to www.eta-az.com and click on Sales and Marketing then Market Update for this info as well!

Equity Title has great marketing tools and programs to help you get more business – call any of our Business Development Managers to set up an appointment!

MONTHS OF SUPPLY (with AWC/UCB listings) (Single Family Only)

East Valley: 3.0

Northwest: 2.6

Paradise Valley: 8.6

Luxury ($1mil+): 11.3

Southwest: 4.1

Peoria/Glendale: 3.1

Camelback Corridor: 4.2

Cave Creek: 5.0

Ahwatukee: 3.7

Scottsdale: 4.7

Apache Junction: 3.1

Fountain Hills: 6.7

Buckeye: 3.5

Desert Ridge & Tatum Corridor: 3.4

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Welcome back, Carrie Thompson!

Equity Title Agency, Mesa is pleased to announce the return of Carrie Thompson, Senior Escrow Officer!!!!  Carrie has 20 years in the title and escrow industry!  Send Carrie an email to welcome her back! Carriet@eta-az.com  Remember, when you write those contracts this weekend, put Equity Title Agency, Mesa/Carrie Thompson on line 93!

The State of Real Estate – Dec 10, 2013

 

 

 

 

 

 

 

 

Last night, Renee Crow and Equity Title’s Tom Diller had an awesome show on “The State of Real Estate”

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The Special guest, Attorney Jim Eckley will be talking about 5 Things you need to know about real estate in 2014 that will affect everybody involved from buyers to sellers to lenders to Realtors! Login and learn – You can also call in at (480) 421-0640 to ask questions.

If you missed last night’s The State of Real Estate with Tom Diller and Renee Crow, you can still listen to the show! Log in here: http://ow.ly/rE1dH. Be sure to tune in on Tuesdays for the latest show!

Equity Title at Remax Solutions Customer Appreciation Day

Remax Solutions Customer Appreciation Day, thank you card from owner Dan Porter with some fabulous pictures of their event.  Chelllee Robinson from Equity Title Mesa Branch, worked the whole event from 10 – 4 and had a great time!

Remax Solutions Yearly Customer Event where their Affiliate “Equity Title” was a large supporter of their event.  Hundreds of clients, which consisted of their families, came to spend the day with their Realtor where they were spoiled with grilled hamburgers, hotdogs, salads, goodies, bounce houses for the kids, and sponsor given gift cards!

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