Tempe

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

A Word from Heather King, Escrow Officer at ETA Tempe

A Little bit about one of Tempe’s Best Escrow Officers – Heather King!

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Whether you are an agent, broker, investor, seller, buyer, borrower or lender, my goal is to earn your business and then keep you as a loyal client. I will give each and every transaction 110% of my best service with a smile.

I began my escrow career with a National Title Insurance Company over 12 years ago. I quickly advanced to Escrow Officer and then to Branch Manager. I joined the Equity Title Agency, Inc. family in 2012 and have quickly built my business around the Central and East Valley.

I am well versed in technical aspects of any real estate transaction, whether it is a residential or commercial refinance or resale transaction, property or tax deferred exchange, foreign investment or land transaction, as well as reverse mortgages and escrows for condo conversions.

In my spare time I enjoy hiking, photography, traveling, and spending time with family and friends. I believe my strong family ethics are reflected in my escrow transactions, creating a balance of empathy and customer service with an unsurpassed level of experience and knowledge.

I would sincerely like the opportunity to build a strong working relationship with you. My success as an Escrow Officer is ultimately defined by how well you are treated during the whole escrow process from opening to closing. Your needs will always be my first priority!

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

Your Escrow Officer,

Heather King 480-756-8888

heatherk@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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Great News from Equity Title – Exceeding the Industry Standard

We here at Equity Title are proud to announce that we are one of the first underwritten title companies in the nation to receive an audited SSAE No. 16 SOC 1 type 1 report and the SSAE No. 16 SOC 2 type 1 report audits with NO EXCEPTIONS TO THE REPORT!

This 250 page report is shows ETA’s compliance with all of ALTA’s ‘Best Practices’ and exceeds the industry standard! This report demonstrates the great lengths to which ETA goes to make sure all of the personal information it receives from our customers is protected from those people wanting to do harm. In a day where identity theft is so prevalent, ETA is on the cutting edge of security! This will also make your closing go more smoothly.

We are proud of our entire staff and are equally proud to offer the highest standard of quality care to our customers and provide the peace of mind home buyers desire and deserve!

Equity Title Agency, once again doing “whatever it takes”!

 

Best Practices CFPB ETA

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.’