Friday, February 16, 2018 / by Darren Tackett
According to the Phoenix Business Journal’s annual wealthiest zip codes list, Paradise Valley 85253 is number 1 AGAIN. When put onto the national wealthiest zip code list, 85253 falls at number 52 out of 18,316 zip codes with populations of 2,000 or more.
Here are the 5 wealthiest zip codes in Maricopa County:
5. 85259 | Scottsdale | ACBJ Wealth Index Score: 20.39
4. 85266 | Scottsdale | ACBJ Wealth Index Score: 21.48
3. 85255 | Scottsdale | ACBJ Wealth Index Score: 23.44
2. 85262 | Scottsdale | ACBJ Wealth Index Score: 23.52
1. 85253 | Scottsdale | ACBJ Wealth Index Score: 28.13
Sourced and Cited | American City Business Journals
Friday, January 5, 2018 / by Darren Tackett
Construction of new U.S homes rose 3.3% in November of 2017, largely powered by single-family houses being built at the strongest pace in more than a decade, the U.S. Commerce Department said. Home builders broke ground on new houses at a seasonally adjusted annual rate of 1.3 million units, marking the fastest building pace for new homes since September 2007, shortly before the start of the Great Recession.
Source | USA Today, December 2017
Monday, October 16, 2017 / by Darren Tackett
Let's take a look at the ARMLS STATs from September 2017!
• September UCB listings percent of total inventory was +15.4% with September CCBS listings at +2.1% of total inventory.+6.7
• Months supply of inventory for August was 2.65 with September at 2.98.
• Average new list prices are up +3.2% year-over year. The year-over-year median is up +3.9%.
• The average sales price is up +4.1% year-over year while the year-over year median sales price is also up +5.1%.
Like the NAR report, we too are reporting year-over-year pending home sale declines for the fifth time in six months. However, our conclusions are slightly different. In early 2017 we began seeing a new trend emerging in our data. I believe there is a new dynamic inside the data and that something has changed as to how the agents are reporting their pending contracts. There used to be a strong relationship between the under-contract count and the monthly sales count the following mont ...
Monday, September 25, 2017 / by Darren Tackett
Home sales (and values) have been on a strong uptick nationwide thanks to low interest rates, freer lending standards and a drop in the foreclosure rate. Sellers everywhere are breathing a giant, collective sigh of relief! But for all of the buyer activity, it seems like most houses sit on one end of two extremes: they either get snatched up the moment they hit the market (with multiple offers and an above-asking sale price) or seem to languish on the market without an offer in sight.
All sellers aspire to be on the multiple-offer end of the spectrum. Fortunately, there are steps you can take to make that happen. Here are five tips to move your listing in to the multiple offers zone.
1. Price it aggressively. Homes that get multiple offers are often sold in an "auction" atmosphere. If you think back to the last auction you saw on TV or participated in online, you'll remember this basic element of Auctions 101: the starting price is lower – sometimes quite a bit lower &nda ...
Friday, September 15, 2017 / by Darren Tackett
Let's take a look at the ARMLS STATs from July 2017!
The year over year for sales is up +2.9%
Average new list prices are up +4.6% year over year. The year-over-year median is up +3.4%
The average sales price is up +8.6% year over year while the year over year median sales price is also up +7.6%
With the exception of our extraordinary years, there is little to no change between the median price we see in June and the median sales price the following February. Big price swings between July and February are indicative of irregular market conditions. For the last four years the median sales price in June is virtually identical to the median sales price for the following February. This was also the case for the three years prior to the formation of the housing bubble. The median price observations above were further substantiated by intel gathered from our AVM modeling.
Last month STAT projected a median sales price for July of $242,500. The actual median sal ...