Happy New Years!

Welcoming in 2010, there are a few big events to consider bringing in the New Year!

• Scottsdale’s Ultimate Block Party - This is the block party to be at.  Live music, lots of dancing and 7000 people
• Fiesta Bowl Block Party - not just for the football crowd - Rated as a top 10 event by USA Today be sure to consider this Tempe town spectacular for New Years Eve

Besides these events there are many, much more intimate gatherings.  Check with your favorite restaurant or club to see what they have planned.

And have a very Happy New Year!

Merry Chirstmas

Wishing you the very best this Holiday Season,

From our family to yours
Merry Christmas

Market Review of 2009

Well the numbers are not yet in for December, and they won’t be for a couple of weeks.  I have access to great statistics, they compile the numbers daily, weekly and monthly, and I get to share the details with you.

I started by checking out many, many different charts to look for what I believe is the best representation of our market currently and over this past year.  This chart, shows the annual appreciation based on monthly sales price per square foot.  I have 2002 and 2003 on this chart to show what a ‘normal’ year appreciation looked like.  In 2004, and 2005 we saw huge appreciation that is not typical of a normal market and then in 2006, 2007, and 2008 we saw the bubble pop.

Back in about April we started to see changes, the number of homes being purchased increased, the inventory started reducing, and the plummeting price drops slowed.  In a ‘normal’ market there is around a 6% increase to value each year.   In April we hit the low of 44% loss and as I write this we are sitting on average across the entire valley 12% loss.

OK so when your looking at losses, none are going to be good news.  But the dramatic change from earlier this year indicates to me, that we are moving toward  a normalized market.

Let me say again, that this is an over view of the entire Valley of the Sun, each smaller area may tell a different story and usually does

Part of the story that needs to be told is the market by price.  A look at inventory broken down by price tells a great story.  In a ‘normal’ market there is about 6 months (180 days) worth of inventory.  Less and you have sellers market, more and you have a buyers market.

What is interesting is we have all 3 happening at the same time.  A price point of  $300-400k is our ‘normal’ market with about 6 months of inventory.  Prices higher are in the buyers market and lower are in a sellers market.

So depending on the price point you are purchasing in, you may find yourself in a bidding war, and some sales prices over asking.

New stuff on Scottsdale-Blog

I have been busy adding new info to Scottsdale-blog. I have added detail about each of the communities in McCormick Ranch, starting with the town home/patio home communities, then the apartment styled condos and the last section, still to come, will be the single family communities.

Check out the tables, making it easy to identify communities with features like golf views, heated community pool, gated and others. As the weeks go by I will be posting about each of these different communities. Making it easier for you to identify the right neighborhood for you.

What’s Happening around Scottsdale

We are a week from Christmas and two weeks from New Years. Wow this year has flown by. There is still time to catch a few seasonal celebrations before they are gone again.

• Holiday Lights at McCormick-Stillman Railroad Park starting Dec 11th at 6:30-9:00 and nightly after. Be there for the tree lighting, Santa, and a train ride thru the park with over 100,000 lights
• Windham Hill’s Winter Solstice: Night Sky essays at the Scottsdale Center for the Performing Arts, performances start at 8pm
• Center Dance Ensemble presents “Snow Queen” at the Herberger Theater the retelling of Hans Christian Anderson’s family favorite

And if your looking for a little more action check out

• Phoenix Suns vs Washington Wizards at US Airways Center at 7pm

Why use your Realtors preferred lender?

The short answer: All lenders are not the same.

I recently completed a transaction where the lender was one my client had been working with. I respect the relationships that are built between LO (loan officer) and buyer. My client had been working with this LO building her credit back up and getting to the savings goals she needed to purchase a home.

As we started he promptly emailed me the LSR (Loan Status Report) a document that is included with every offer filled out by both the LO and the buyer. Soon after we were in contract, all going smoothly…. Everything was great.

Till it wasn’t. The LO was never available to answer his phone, he didn’t respond to his email. I finally had to call his office and get connected with his loan processor. The file had been in underwriting for over a week, we had been told we would get the file back in 48 hrs. I had no idea what the delay was. And with no communication, I was fearful of the worst. The selling agent was anxious too. We were supposed to close in just a few days, and I couldn’t get the lender to communicate!

When he did communicate, he assured me that the file would be out of underwriting that afternoon…. But it wasn’t and not the next day or the next… once the file did come out of underwriting it was to be just 48hrs till the documents would be at the title office for signing, and funds were to be sent at the same time as the docs so there would be no delay. It took almost another week to get the docs, and the funds were delayed beyond that.
Thank goodness the seller was patient. We extended the contract again, and again, again and finally closed.

It takes a team to purchase and close on a home. Each person is needed to do their part, working hard behind the scenes to make the transactions move along smoothly. If there is one member of the team not holding up their part, it makes the whole transaction stressful for everyone.

Communication is key, I don’t care if you prefer to communicate via phone, email, text or any other form as long as you communicate.

In this instance the buyer had her belongings packed in a truck and had fully moved out of her previous home, and had to stay with friends as she was homeless during the delays.

What’s Happening around Scottsdale

We are in the heart of the Holiday Season, so a few seasonal inspired activities are on the list for this week;

• Las Noches de las Luminarias at Desert Botanical Garden 5:30 - 9:30pm check their calendar for dates. Wander thru the Gardens lit up by luminaria, enjoy several different musical acts, my favorite is the bell choir. Bundle up, the evenings are chilly and get your tickets early. These evenings are magical and usually sell out.
• “A Christmas Carol” at the Herberger Theater shows at 2 and 7pm
• Zoolights at the Phoenix Zoo nightly from 6-10 bring the whole family for the most beautiful holiday light display with 2.5 million lights, Zoolights is spectacular.
• Polar Express the Grand Canyon Railway brings Christmas alive with a trip to the North Pole. This is the family holiday excursion. Trains leave at 6:30 and 8:00 most evenings

That should put you in the holiday spirit…

Welcome Back Irene

Yes, I am back…

I have been absent for months.  I am painfully aware of the fact.  As I sit down today, I asked myself, ‘Should I just ignore the laps? or address it?’  I’m going for addressing it.

In the past many months, I have been fighting a bit of anemia, and not having enough hours and energy in the waking day.  So clients come first, blogging comes somewhere down the list.  That is my poor excuse for not posting. 

I am doing much better, took care of the cause, and am feeling more and more energetic every day.  So what is ahead?  Me getting to my computer and writing for sure.  Also look for additional pages with information on the patio/town homes of McCormick Ranch.  I will be doing posts one each of these communities in the coming weeks and months.