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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Market Update Through March 10, 2014

Here is the Market Update through March 10th, 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 March and the next market update will be in June!

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 me know how many you would like and I 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!

Comments:

Active Listings and Sales:Total active listings, (with no UCB/AWC) have gone up by 599 units over the last month. As of March 10th we sit at 26,797 actives all property types. Sales are at 5708 for the last 30 days (March 10th), up by 811 units from one month ago! We are currently sitting at a 4.7 months of supply, (based on Active listings with no UCB/AWC). Pending sales are up from the month before as of March 10th, 5708 vs. one month ago at 4897. Traditionally, 3-4 months of supply indicate a balanced market. February re-sales and new sales in Maricopa County were 6029. In January 2014 they were 5741 . February 2013 was 7,073 this is an 15% 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 fast rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

East Valley 24%
Northwest 23%
Apache Junction 25%
Desert Ridge 25%
Median Price: The median price in Maricopa County for February 2014 was $194,000 in January 2014 it was $194,950. In February of 2013 it was $173,339 for a 12% increase!!!! In February 2007 it was $259,087 and in February 2001 it was $139,000!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 5% of the closings for the last month. Distressed Sales (Short Sales and REOs combined) accounted for 13% of the total sales for in the last month. REO property sales equal to 8% of the sales for the last month. Normal non-distressed sales are now 87% 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 40% since January 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 5% absorption rate for the last month. There were 87 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 me to set up an appointment!

Click Here for the Graphs

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

East Valley: 4.2

Northwest: 4.3

Paradise Valley: 12.1

Luxury ($1mil+): 19.1

Southwest: 4.9

Peoria/Glendale: 4.5

Camelback Corridor: 5.9

Cave Creek: 9.6

Ahwatukee: 4.6

Scottsdale: 8.1

Apache Junction: 4.0

Fountain Hills: 8.1

Buckeye: 5.9

Desert Ridge & Tatum Corridor: 4.0

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Market Update Through January 23, 2014

Here is the Market Update through January 23, 2014. Please note that the Valley Wide graph represents all of the MLS. The table below that graph just represents recordings for new and resales for Maricopa County.

We have decided to put these graphs into 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 we will bring them by your office. This will be Volume 1 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 1033 units over the last month. As of January 23rd we sit at 25, 118 actives all property types. Sales are at 4549 for the last 30 days (January 23rd), down by 831 units from one month ago! We are currently sitting at a 5.5 months of supply, (based on Active listings with no UCB/AWC). Pending sales are up from the month before as of January 23rd, 5671 vs. one month ago at 5549. Traditionally,  3-4 months of supply indicate a balanced market. December re-sales and new sales in Maricopa County were 6686. In November 2013 they were 5943 .  December 2012 was 7,531, this is an 11% 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 fast rate, and thus is a Seller’s market. Certain areas of town have very high absorption rates, they are:

East Valley 25%
Peoria/Glendale 24%
Desert Ridge 32%
Ahwatukee 28%
Median Price: The median price in Maricopa County for December 2013 was $203,000 in November 2013 it was $200,000. In December of 2012 it was $168,900 for a 20% increase!!!! In December 2007 it was $247,400 and in December 2001 it was $143,800!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales represent 8% of the closings for the last month, and a 3.0 Months of Supply. Distressed Sales (Short Sales and REOs combined) accounted for 17% of the total sales for in the last month. REO property sales equal to 9% of the sales for the last month. Normal non-distressed sales are now 83% of the total!!!!!

Check out our new graph! It is the last one! Gives you the average dollar per square foot of solds by month on a line chart going back one year. Prices have risen by 46% since November of 2011!

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 89 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 me to set up an appointment!

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

East Valley: 4.0

Northwest: 5.1

Paradise Valley: 12.2

Luxury ($1mil+): 15.5

Southwest: 4.4

Peoria/Glendale: 4.2

Camelback Corridor: 4.4

Cave Creek: 12.3

Ahwatukee: 3.5

Scottsdale: 7.6

Apache Junction: 7.6

Fountain Hills: 8.8

Buckeye: 6.5

Desert Ridge & Tatum Corridor: 3.1

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Tip #7: Prepare HUDs for your Clients

To Do #7: Prepare HUDs for your Clients

Start the New Year off by contacting all of your clients who closed a transaction with you in 2013…and with great purpose: Resend their Final HUD for their taxes!

Can’t locate their final HUD? Contact your Escrow Officer! If you need the HUD for any transactions that you closed with Equity Title in 2013, simiply email or call your Escrow Officer (emails listed on the right side of this email) with the Property Address and Client’s Name and they will email the HUD to you!

Tip #6: Develop your Niche

To Do #6: Develop your Niche

No one can be all things to all people. Take time to reflect on your transactions in 2013 – What similarities were there? What did you most enjoy working on? Then examine what your strengths and weaknesses are. Determine what niche you would like to work. Create a Mission Statement. Learn to Know your Niche – view the inventory; memorize the statistics; package your resources.

Tip #5: Update your Online Profiles

To Do #5: Update your Online Profiles

According the NAR’s 2013 Profile of Home Buyers and Sellers an astounding 92% use the Internet in the home search. When they find you on your website or Facebook or LinkedIn or Twitter or ActiveRain or whatever site you have set up a profile, what do they find?

Make sure you have the following:

-A current photo
-Your Designations
-Best contact phone number and email Working links
-An accurate, detailed job description, overview or general info. Use descrpitive words that explain what you do, your niche and what makes you different from other agents. And, remember to stay away from “for the last 4 years…” – instead say, “Since 2009″ so that your desciption doesn’t ‘expire.’

Tip #4: Get The Equity Title Mobile App

To Do #4: Get The Equity Title Mobile App

We have improved our website to be more user-friendly and include more tools. Follow the steps – or watch the videos – to create your Free Title Advantage Account in order to access the great features like Online Map Property Searches, Online Property Profiles, Net Sheets with Calculated Escrow and Title Fees and much more!

 

Click here for >> Step By Step Instructions from Equity Title’s Sarah Moran.

Tip #3: Fine Tune Your Listing Presentation

To Do #3: Fine Tune Your Listing Presentation

If the trend from 2013 continues, Listings are going to be where it is at in 2014. Make sure you have have your Listing Presentation perfected and fine-tuned! Make sure you are ready for any listing appointment by getting the following in order now:

CMA – Investigate which CMA program works best for you. There are many available for cost and some brokerages provide CMA platforms as a benefit, but there is also a great, free CMA option in flexmls. Don’t know how to use it? Watch this quick video to learn how.

Property Profile – Create a professional property profile package that includes statistics and property information. Equity Title offers a Property Profile in a 3-ring binder with a front slip cover. It is branded with the same look as our Seller Guide, Contract Guide and other info. Best of all, they are free!

Resume – Make sure you have a resume that includes your background, strengths and helps to show what differentiates You from other agents. Need a starting place? Complete this form to generate thoughts about what makes you different.

Tip #1: Business Planning for 2014

In the hustle and bustle of the holiday season, it is often quite easy to forget about Real Estate and just wait until 2014 to ‘start’ working again. Don’t let this happen to you!!

The agents that are working now, preparing for 2014, are going to be leaps and bounds ahead of the pack. Every day between now and the New Year, we will send you an idea, tip or thought to get you Ready, Prepared and Motivated for a Prosperous 2014!

To Do #1: Create Your Business Plan

10 Reasons why You Should Have Plans – by Tom Geddie, ABC

  1. Planning helps you concentrate on prioritities.
  2. Planning hleps you set meaningful, measurable goals/objectives
  3. Planning hleps you meet change head on, since you’re not scrambling quite so hard to keep up with day-to-day workplace pressures.
  4. Planning helps you discuss – and thus create greater understanding of – communication needs with management and peers.
  5. Planning helps facilitate changes in values and behaviors.
  6. Planning helps create consensus.
  7. Planning helps you deliver what you promise.
  8. Planning helps you break big problems into small, manageable problems.
  9. Planning helps put you in charge, allowing you to be proactive rather than reactive.
  10. Planning helps you ask the right questions.

A Business Plan is your Map to your future Success! Set your Goals! Plan your Marketing Strategy! Set your Schedule! Set an appointment to meet with me to discuss!

 

Get Started On Your Business Plan here:

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WCR Installation Luncheon Dec 6 2013

Equity Title Agency Escrow Officer Heather King,  Reps Chellee Robinson and De Payne along with AVP Tom Diller attended the WCR Installation Luncheon Dec 6 2013. The list of dignitaries at this event included a dozen past presidents of WCR, Commissioner Judy Lowe, AREAA Board Members, HAREP Board Members, Vice Mayor of Chandler, Secretary of State Ken Bennett, just to list a few!

Congratulations Michelle Chang for all your wonderful accomplishments!

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