Kathy Stewart Retires

After 18 years with Equity Title Agency and over 30 years in the industry, we say a heartfelt good bye to Kathy Stewart! She is loved and respected by her peers and coworkers alike and will truly be missed. Thank you for all your hard work and dedication Kathy.  See you on the golf course!!

(Click on the blue link below to see her retirement party)

Kathy Stewart’s Retirement

 

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 #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 #2: Update your Contact List

To Do #2: Update your Contact List

You can’t follow up on leads and keep in touch with your Sphere of Influence without a sufficient database. So, clean up your Contact List and get more organized for 2014, so you can be more profitable in 2014!

Don’t forget to also create a Referral List! Having your Go-To-Person is essential…here are a few catergories to get you started: Title Rep, Escrow Officer, Mortgage, Appraiser, Inspector, Termite, Home Warranty, Real Estate Attorney, CPA, Movers, Septic Service, Roofer, Landscaper, Pool Service Provider.

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!

Taking a Look at the Buyers

Equity Title Tip:

For the past 3 years we have been talking about Listings, Listings, Listings! But as we move back into a more balanced market, it is time to start talking about Buyers again!

Some resources we can provide for you include:

1. Buyer Guide: Our professional guide is filled with detailed information necessary for anyone purchasing property in Arizona! It also comes customized with your photo, logo and contact info – which makes it a great item to have at Open Houses!

2. Open House Guest Register: Speaking of Open Houses, our guest register is customized with your information and a great way to keep track of everyone who visits your open house.

3. Purchase Contract Gude: Our guide offers the complete (sample) contract with line-by-line details in easy-to-understand language.

Feel free to contact our team of awesome Business Development Managers for resources for your buyers!