Phoenix Real Estate: Sales, Sales Volume, Mortgages up in October 2014. Distressed Properties Down

December 3, 2014 By

Below are charts and graphs from the October 2014 TheWilcoxReport.com

  • October 2014 existing sales slightly higher than October 2013.
  • October 2014 sales volume $42,095,372 higher than October 2013.
  • October 2014 Distressed Property Index at 1,483 compared to 14,889 in October 2009.
  • October 2014 new monthly listings were 1,016 less than October 2013.

In this report we compare performance for sales, sales volume, cash purchases, mortgage purchases, and new monthly listings. The comparisons are year-over-year, comparing a time period in 2014 to the same time period in 2013. Year-over-year comparisons are an effective way to measure performance, highlight differences, and negates the effect of seasonality.

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Filed Under: Arizona Real Estate Market, Buyer or seller market, cash purchases, conventional loans, FHA and VA mortgages purchases, FHA loans, Fletcher Wilcox, grand canyon title agency, Greater Phoenix Real Estate, home loans, Listing inventory, Mortgage Purchases, Paradise Valley real estate, Phoenix real estate, Phoenix real estate sales, real estate sales, Scottsdale luxury market, Scottsdale luxury real estate, Scottsdale real estate, The Wilcox Report, VA loans, VA mortgages

Scottsdale Real Estate: Retiring or thinking about retirement in Scottsdale. The coming silver tsunami likely to bring many retirees to Scottsdale.

October 6, 2014 By

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

Here Comes the Silver Tsunami.

In 2010 there were 40 million people in the U.S. that were sixty-five or older according to the Adminstration on Aging, a division within the U.S. Department of Health and Human Services. This number is projected to grow to 54 million in 2020 and 72 million by 2030. Some of those sixty-five or older will retire. And often what comes with retirement is a move. The move be downsizing into a smaller home with less maintenance and/or moving to a state with a warmer climate such as Scottsdale, Arizona.

CNN Money in 2013 rated Scottsdale as one of the best eight small cities for retirement if you had a nest egg.

Recently, on TheWilcoxReport.com I interviewed Kerri Calidora of Ventana Fine Properties located in Scottsdale. One of her real estate specialties is working with sellers who are retiring or will be, and who want to downsize their home. She has a team of downsizers to help those making this transition. She has ideas on attractively presenting a property and all its features. Also, she is familiar with retirement communities in Scottsdale. She says often when someone is coming up to eighty years of age they may prefer one of Scottsdale’s retirement communities. And as Director of Relocation at Ventana Fine Properties, she helps buyers in finding homes that are relocating to Scottsdale.

Kerri may be contacted at KerriC@VentanaFineProperties.com or 480-236-3087.

Filed Under: Arizona Real Estate Market, Buyer or seller market, Scottsdale listings, Scottsdale luxury market, Scottsdale luxury real estate, Scottsdale real estate, Scottsdale relocation, Scottsdale retirement, The Wilcox Report

Scottsdale Real Estate: Is it a Buyer or Seller Market? Fletcher Wilcox interviews Shawn Shackelton of Ventana Fine Properties

September 4, 2014 By

Shawn Shackelton answers the question “Is the Scottsdale real estate market a buyer market or a seller market? Shawn gives tips if you are a seller thinking of selling your home.  Shawn has been in real estate for seventeen years.  She works at Ventana Fine Properties in Scottsdale.  Before Ventana, she spent ten years working in the upscale luxury community of Silverleaf in Scottsdale.

Below are pictures of two of her Scottsdale luxury home listings.  The first is 9899 E. Buteo Drive, Scottsdale 85255.  This luxury home is 4,949 square feet and priced at $1,950,000.

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The second is a luxury condo listing located at The Mark in Old Town Scottsdale.  The Mark is located at 6803 E. Main Street, number 2211, Scottsdale 85251  It is 2,444 square feet and is priced at

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Filed Under: Arizona Real Estate Market, Buyer or seller market, Fletcher Wilcox, Listing inventory, Phoenix real estate, Scottsdale listings, Scottsdale luxury market, Scottsdale luxury real estate, Scottsdale real estate, The Wilcox Report

VA loans or mortgages grow in importance for Phoenix real estate market: Overall sales are down, but surging are sales with VA loans.

August 26, 2014 By

While the number of sales of single family existing homes in Greater Phoenix have been down every month this year compared to the same month of last year, not so when it comes to sales involving VA loans.  The number of sales in which a buyer financed the purchase with a VA loan or VA mortgage is up every month this year compared to the same month as last year.  See Chart One below.  In fact, VA loans were 7.2% of all sales of single family existing homes for the first half of 2014 in Greater Phoenix.  The percentage of 7.2% has not been higher this century.  In 2013 the percentage was 5.2% and was 4.1% in 2012.  See Chart Two.

The United States Department of Veteran Affairs, shows the veteran population in Arizona at 527,400 as of September 30, 2013.   A veteran may purchases a home with no down payment up to a $417,000 purchase price.  According to the Arizona Regional Multiple Listing Services, Inc. (ARMLS), for the first six months of 2014, there were 2,098 single family existing homes purchased with a VA loan.  Ninety-nine of these sales had purchase prices over $417,000.   The highest purchases price this year with a VA loan was in Scottsdale, Arizona.  The purchase price was $1,000,000.  I spoke with the selling agent Lyn Trayte with Dominic and Co. International Real Estate.  She said the buyer was a retired veteran and the transaction went smoothly.

Demand for VA loans up as other mortgages fall  an article by Catherine Reagor from the Arizona Republic.

If you need a referral for a lender who knows VA loans contact me at FWilcox@gcta.com or 602-648-1230                                                                                

Table One:  Number of Purchases with a VA Loan for Single Family Existing Properties in Greater PhoenixVA loans1

 

2013 2014 Difference
January 209 245 +36
February 257 282 +25
March 321 379 +58
April 317 365 +48
May 348 402 +54
June 319 425 +106
July 359 388 +29

Table Two:  Percentage of Overall Purchases with a VA Loan 

January 1 through June 30 for 2000 through 2014 

VA Loan Percent

Fletcher R. Wilcox

V.P. Business Development, Real Estate Analyst

Grand Canyon Title Agency, Inc.

FWilcox@gcta.com   602-648-1230

Filed Under: Arizona Real Estate Market, FHA and VA mortgages purchases, Greater Phoenix Real Estate, Mortgage Purchases, Phoenix real estate, Scottsdale luxury market, Scottsdale luxury real estate, Scottsdale real estate, The Wilcox Report, VA mortgages
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