Interviewed again by ABC 15 News' Christina Boomer regarding market conditions and recovery copy and past the link or visit www.ABC15.com http://www.abc15.com/content/financialsurvival/azstories/story/Experts-say-Valley-housing-market-won-t-recover/-mPKf73ay0G-x_27nNeqGQ.cspx
Based on feedback from several avid realty times readers, I am making an effort to provide more up to date information and keep it up to date on a more regular basis, as a professional Realtor in the market, I feel I owe it to those of you that are consistenly looking for accurate market conditions to provide that information to you as often as possible. Please feel free to email me direct kgagon@earthlink.net with requests of what you would like to see posted/updated here weekly/monthly here so that I can manage and update accordingly!
Scottsdale updated statistics: Updated May 31, 20104145 Active homes for sale, 978 Pending close of escrow, 891 Under contract with contingencies to close, 656 closed in May. Average closed price was $418,148. The average list to sales price ratio was 95%, Average marketing time of the closed sales was 133 days on the market. For overall market statistics keep reading.
In the most recent statistics update search and market analysis of the Arizona MLS as of May 31, 2010. Inventory is on a slow rise while pending sales and sales with contingencies continue to slowly decline. The preliminary estimate of closed sales for May is 8,392 and may adjust slightly higher or lower the first few days of May at which time I will be sure to update the number here to provide accurate nubers and information. April closings were slightly higher at 9,241, though I do expect to see a higher number of closings in June as a result of all the tax credit buyers that must close to meet the deadline of June 30th.
For a complete comparison of April to May numbers, read my April/May statistics blog on Trulia.com. As of 5/31/2010, Currently the active inventory of homes in the MLS for sale is at 33,528. The pending sales are at 13,041. Homes under contract with contingencies which make up a good portion of the homes that are contingent on short sale approval are at 7,880. And the closed sales for May again 8,392. The average closed sales price for May (which is not the median price) was $178,593 with an average days on the market of 95 and the list to sale price close ratio was 98%
Of the above numbers Bank/Lender/or corporate owned homes make up 5,343 of the active inventory, 4056 of the pending inventory, 244 of the homes under contract with contingencies, and 3,255 of the closed homes for May. The average closed sales price of these homes was lower at just $134,449 with an average days on the market of 74 and a list to sale price closed ratio of just under 100%. This is an indicator that homes that fall into the lender and bank owned category for the most part are selling at or above thier asking prices.
Of the total numbers Short Sale and preforeclosure properties make up 9041 of the active inventory, 4351 of the pending inventory, 7497 of the homes under contract with contingencies, and accounted for 1,722 of the closed sales for May at an average closed sales price of $163,319 with a list to sale ratio of approximately 98% and an average days on the market of 140.
For information on your specific home or a particular area please feel free to contact me directly we offer a no obligation, free market analysis of your home. If you missed my most recent ABC 15 news interview with Christina Boomer on the market recovery of Phoenix see it at the link below. http://www.abc15.com/dpp/money/real_estate_news/experts-say-valley-housing-market-won%E2%80%99t-recover-until-2034
For other information visit my website www.allarizonarealestate.com, and for the most up to date video marketing that we are doing visit my youtube page at: http://www.youtube.com/user/kgagon
If you would like to search the mls you can do so directly and just like I do from this link: http://link.flexmls.com/rgl6sbnw429,12
Based on the statistics from January 1, 2010 the average list to sell ratio is within 2% of the list price, with an average marketing to contract time of just 83 days. This does not include any contributions to buyer closing costs that are very common in todays market. When listing your home, price it to sell up front and it will sell. For detailed information on pricing your home contact me today.
Buyers are you looking for a bank owned home but not getting to them fast enough? Finding that they have multiple offers before you have even had a chance to look at them? We have access to hundreds of bank owned listings in the premarketing stages that have not yet hit MLS, to get in on the information of these listings before anyone else email me directly to kgagon@earthlink.net and ask to be included in the premarketing updates, take charge of finding your next, new home, or investment opportunity today be proactive in your search.
2009 statistics show that it was the 3rd best year for closed sales since 2004 and 2005. In 2009 there were 92,389 closed sales, falling just behind the number for 2004 of 98,298. Yes the average sales price was considerable lower but that allowed many of the first time buyers back into the real estate market.
In keeping ahead of the real estate changes, I was recently interviewed by Christina Boomer at ABC 15 News for using cutting edge technology and video news marketing to sell more homes. I am one of only a few agent nationwide that has this marketing format and it is a growing segment of my business that can help to sell your home faster. For more information copy and paste this entire link into your browser: for other media appearances visit my website!
http://www.abc15.com/content/news/phoenixmetro/central/story/Valley-realtor-uses-new-tool-to-sell-homes-across/Wf2jnTdF6EWB80JMsJinjg.cspx
We are now getting 1st access to bank listings before they hit the market from both Countrywide and Nationstar bank, call to get added to our list of buyers for these premarket homes today!!
If you are considering selling your home, and demand the highest level of service available, with no risk and guaranteed results! I have a flexible fee structure, and one of most visible websites on the major search engines along with access to over 40 million viewers both online and offline through national TV, and print advertising. Your home will be exposed to thousands of prospective buyers each month. If you are considering hiring an agent to list your home that does not have high web exposure, think again 98% of all home buyers start their home search on the web.
A note to licensed agents...I gladly pay agent to agent referral fees. Call me for more details.
Fun fact: Kent Gagon was recently interviewed and considered to be one of the 25 eligible bachelors to compete for love in ABC's popular television reality show The Bachelorette 2010.
Monday, May 31, 2010
Thursday, May 27, 2010
Most recent ABC 15 New Interview on Market recovery May 19, 2010
In a recent article published by Money Magazine, Arizona Ranked as one of the top 5 states where recovery would take the longest with 51% of homeowners underwater or upside down in their homes. While there are many factors that must to be considered to identify full recovery, I was intervied by ABC 15 News for my opinion on the article and the recovery of Arizona. IIn my opinion it depends on how one defines recovery. If Recovery is defined as homes are selling supply and demand are not out of control asking prices and sales prices are within a 3-5% range than we have alread seen that. 2009 was the 3rd best year in Arizona for closed sales. 2010 is on a similar track. However if the defenition of recovery is that the prices are equal to that of the 2006 high we are at least 10-15 years away. You can watch the video interview piece at the link below.
If you are looking to buy or sell a home. Whether it is a new home a resale home, a short sale, or a bank owned home. ask the realtors you interview if they can get you massive internet, and television exposure. Why, because in today's market you need your home to stand out. Marketing and effective pricing are the two things that sell homes in todays real estate marketing. My cutting edge video marketing got me an interview with Christina Boomer of ABC 15 news and since then I have become the go to guy/realtor for real estate related storiesand advice or statistics for ABC 15 news. This type of exposure is crucial and so is being an expert in the field of real estate sales and understanding each aspect of the market (buying, selling, bank owned homes, short sale negotiations, new homes and more). Check out the latest story from 5/19/2010 done by Christina Boomer ABC 15 news, interviewing me regarding the market recovery of the Arizona real estate marketing at the link below. Call me with questions or for a free market analysis or consultation on your current situation whether you are an equity seller or upside down we can help you work through the financial hardship and get you on the road to recovery as soon as possible. If you have a Wachovia serviced mortgage, the short sale process is quick and easy with direct contact to the local area representative that gets approvals in less than 30 days on a typical short sale transaction!Thank you Kent
http://www.abc15.com/content/financialsurvival/azstories/story/Experts-say-Valley-housing-market-won-t-recover/-mPKf73ay0G-x_27nNeqGQ.cspx
If you are looking to buy or sell a home. Whether it is a new home a resale home, a short sale, or a bank owned home. ask the realtors you interview if they can get you massive internet, and television exposure. Why, because in today's market you need your home to stand out. Marketing and effective pricing are the two things that sell homes in todays real estate marketing. My cutting edge video marketing got me an interview with Christina Boomer of ABC 15 news and since then I have become the go to guy/realtor for real estate related storiesand advice or statistics for ABC 15 news. This type of exposure is crucial and so is being an expert in the field of real estate sales and understanding each aspect of the market (buying, selling, bank owned homes, short sale negotiations, new homes and more). Check out the latest story from 5/19/2010 done by Christina Boomer ABC 15 news, interviewing me regarding the market recovery of the Arizona real estate marketing at the link below. Call me with questions or for a free market analysis or consultation on your current situation whether you are an equity seller or upside down we can help you work through the financial hardship and get you on the road to recovery as soon as possible. If you have a Wachovia serviced mortgage, the short sale process is quick and easy with direct contact to the local area representative that gets approvals in less than 30 days on a typical short sale transaction!Thank you Kent
http://www.abc15.com/content/financialsurvival/azstories/story/Experts-say-Valley-housing-market-won-t-recover/-mPKf73ay0G-x_27nNeqGQ.cspx
Arizona residents with loans that are serviced by Wachovia Mortgage. If you have fallen behind on your loan you may qualify to do a short sale that can be approved in less than 30 days in most cases. We just got one approved in 19 calendar days from submission of the package to the letter of approval.
Also if you are one of the unfortunate few who have been hit with a financial hardship, first I am sorry and feel for you, and Wachovia may be willing to give you up to $2500 at close of escrow for moving costs. This is great news to all of you that want to avoid foreclosure and be able to buy another home again in apprximately 2 years according to new Fannie Mae guidelines released in April.
Wachovia only requires a handful of paperwork
1. a signed listing agreement with the Realtor of your choice
2. A signed purchase contract between buyer and seller
3. The LSR for the buyer or proof of funds if they are paying cash
4. A hardship letter or interview with the local Wachovia Short Sale representative.
5. The HUD 1 Settlement estimate that the Realtor can get from his/her title company.
That is is, no financial documents, no tax returns, no bank statements no nonsense. They have the system down and get approvals out quickly from their underwriting department. There are many benefits to you as the homeowner as already mentioned there may be financial incentive at closing for moving costs. The chances of losing your buyer in the short time frame it takes Wachovia to approve the sale is minimal unlike when dealing with other banks. They are realistic in closing dates on the approvals typically 45-60 days, and extensions or postponements of auction dates if you are close to that date can in most cases be changed with a 5 day notice.
Most other banks take anywhere from 30-180 days in fact I just talked to Aurora this week and they say if a short sale package is submitted in May it will get reviewed in October! Some that are getting easier to deal with and approving in short time frames include Chase, Wells Fargo, and Nationstar Mortgage. For more information on this or other real estate related issues contact me directly.
Also if you are one of the unfortunate few who have been hit with a financial hardship, first I am sorry and feel for you, and Wachovia may be willing to give you up to $2500 at close of escrow for moving costs. This is great news to all of you that want to avoid foreclosure and be able to buy another home again in apprximately 2 years according to new Fannie Mae guidelines released in April.
Wachovia only requires a handful of paperwork
1. a signed listing agreement with the Realtor of your choice
2. A signed purchase contract between buyer and seller
3. The LSR for the buyer or proof of funds if they are paying cash
4. A hardship letter or interview with the local Wachovia Short Sale representative.
5. The HUD 1 Settlement estimate that the Realtor can get from his/her title company.
That is is, no financial documents, no tax returns, no bank statements no nonsense. They have the system down and get approvals out quickly from their underwriting department. There are many benefits to you as the homeowner as already mentioned there may be financial incentive at closing for moving costs. The chances of losing your buyer in the short time frame it takes Wachovia to approve the sale is minimal unlike when dealing with other banks. They are realistic in closing dates on the approvals typically 45-60 days, and extensions or postponements of auction dates if you are close to that date can in most cases be changed with a 5 day notice.
Most other banks take anywhere from 30-180 days in fact I just talked to Aurora this week and they say if a short sale package is submitted in May it will get reviewed in October! Some that are getting easier to deal with and approving in short time frames include Chase, Wells Fargo, and Nationstar Mortgage. For more information on this or other real estate related issues contact me directly.
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