FEATURED STORIES

Phoenix Metro (MLS) Home Sales Report (PDF)
Valley Pending Foreclosure Numbers
North Scottsdale Home Sales Report
North Scottsdale Home Sales by Zip Code
A Nations Recessionary Journey (Great Graphic)
Arizona and all that it offers (video)
Real Estate Cyber Tips (Link)
Mortgage Interest Rates Remain Historically Low
The Facts Your Credit Score – A Must Read
Buying a Home After Foreclosure
Fannie Mae “Know Your Options” Website up and Running

Phoenix Metro (MLS) Home Sales Report (PDF)

Courtesy of the Arizona Regional Multiple Listing Service

The following online report is the new STAT format I’ll be using for future E-Newsletters. These reports are well done and accurately state the most current numbers we have for Valley home sales in general.

There is a major difference in this report from my previous ones. These sales are for ALL MLS home sales, not just Single Family Detached (SFD). The important thing however, is that they are showing us the trend of the market.

This excellent and easy-to-read PDF report can be accessed by clicking this link (or cutting and pasting into your browser): http://armls.com/Libraries/STAT/STAT_October_2010.sflb.ashx

• October 2010 single family detached home sales totaled 5689 – a drop of 11% from 2009, but a slight increase over August
• October median sales price of $134,500 remains unchanged
• Paradise Valley Median Sales Price increased 12% over last year.
• Pending Listings are up 2% from last month totaling 10,135
• Active Listings increased 4% since September. Absorption rate remains at 5 months
• October residential sales (4936) dropped 18% since September of 2009
• The sales price per square foot (psf) remains unchanged from September
• 41% of all sales in all areas and types are traditional sales
• 59% of all sales in all areas are distressed sales (Lender owned or Short Sales)

Valley Pending Foreclosures as of October 2010: 41,032

Compared to October 2009 (50418) which is a decrease of 19%

NE Valley Community Update

• North Scottsdale: Median Price is up 3%
• Carefree: Median Price is down 32%
• Cave Creek: Median Price is down 13%
• Fountain Hills: Median Price is down 19%
• Phoenix: Median Price is -2%
• Paradise Valley: Median Price +12%

NORTH SCOTTSDALE HOME PRICES RISE

North Scottsdale’s home sales in October dropped 22% compared to a year earlier. It took more time to sell a North Scottsdale home compared to one year ago (106 vs 91 days). As a whole North Scottsdale home prices increased 3% over September of 2009.

All but two North Scottsdale Zip Codes gained value: 85254 was up 3%. 85255 increased 8%. 85258 rose 10%. 85260 increased 6%. 85262 saw a double digit increase of 11%.

Only 85259 (-8%), and 85266 (-6%) dropped median value.

North Scottsdale increased its listing inventory this past month by 4%, compared to last year. It now stands at an increased Monthly Absorption Rate of 10, up from 8.

NORTH SCOTTSDALE SALES - BY ZIP CODE

(Listings compare this month with last month
and Sales compare August 2010 vs. August 2009)

	Current Listings:	Sales:	Ave. Sales Price:
85254	315 (+1%)	42 (+18%)	$305,000 (+3%)
85255	642 (+4%)	52 (-28%)	$567,000 (+8%)
85258	206 (+4%)	23 (0%)	$392,000 (+10%)
85259	272 (+6%)	34 (+60%)	$474,000 (-8%)
85260	219 (- 5%)	30 (-33%)	$423,000 (+6%)
85262	486 (+7%)	25 (-43%)	$590,000 (+11%)
85266	233 (+4%)	23 (-18%)	$525,000 (-6%)
Totals:	2373 (+4%)	229 (-22%)	$440,000 (+3%)

Current North Scottsdale Listing Absorption Rate
for September 2010 = 10 Months

A Nation’s Recessionary Journey
Graphically Depicted

My friend Brian sent me this link recently which is quite the graphic about our nation’s recessionary journey. It’s worth the few seconds it takes to view it. Oh, and by the way, Maricopa County is the county that looks like an upside down (purple) boot and is located in the SW part of the state.

http://cohort11.americanobserver.net/latoyaegwuekwe/multimediafinal.html

Arizona – Check This Out…

There’s been much negative press about Arizona, but in my opinion, we live in one terrific place. Check this out:

http://www.youtube.com/watch?v=ejvF7YC_PIw

Real Estate Cyber Tricks

Every once in while most of us have three or four words running through our heads – a little snippet that pops up from a song from the past. And sometimes it drives us batty wondering what the name of that song was! At this great place all you need to do is enter the words you are hearing – and Shazam – the program will give you all of the possibilities that contain that phrase (from their collection of more than 470000 song lyrics).

Just click on the song you want more lyrics from and you’re in business. And, of course, this neat service is on the house! Just click the Cybertips link below to take you to this month’s issue. Check this out an many other tricks and tips:

http://www.recyber.com/cybertips/r6011

Killer Low Mortgage Rates Currently for
Phoenix, Arizona

(as of 10/17/2010)

30 Year Fixed Rate: 4.29%.

15 Year Fixed Rate: 3.68%

5/1 Arm: 3.19% (Fixed for 5 Years than adjusts)

KNOWLEDGE IS POWER ~
TERRIFIC CURRENT EVENT READS FOR ANYONE

• The Facts Your Credit Score – A Must Read
  
• Buying a Home After Foreclosure
  
• Fannie Mae “Know Your Options” Website up and Running

Know ANYONE who is
Struggling with their Mortgage?

Do you know anyone who is struggling with their mortgage and needs counsel – without cost or obligation? Please give them my name and number. As a holder of the CDPE (Certified Distressed Property Expert) designation, the SFR (Short Sale and Foreclosure Resource) Certification and everyday practical knowledge of handling them, I can help. All interviews are confidential. There could be strong consequences if folks just walk away from their mortgage.

Call Mike Bodeen at 602-689-3100 for more info.

For Help with all your Real Estate Needs,
Call Mike Bodeen at 602-689-3100.