BUYING SMART IN ARIZONA

Real Estate Market Update

All about the Single Family Real Estate Market in Arizona, November, 2012

Presented by:

Tricia Lehane

Update on Greater Phoenix/Scottsdale Single Family Property Trends

Single Family homes are in demand, prices have increased..

However the price you can purchase a home for is still amazing! Arizona is the #1 state that California residents are moving from…The second home market is also staying vibrant and

becoming even more so as we enter the prime winter visitor season. The “Baby Boomer” demographics are also feeding

that demand. The new home providers are getting more active in providing interesting new energy efficient products

and developing new neighborhoods in high demand price competitive areas.

The demand for single family homes as rentals by previous homeowners should continue into 2013. This will keep cash

investors in the purchase market looking for investment opportunities. Investors will compete to own and rent properties

as long as it makes dollars and sense to own and to rent. Since many sellers prefer cash investors over financing buyers

the number of financing buyers unable but wanting to own is growing. Local researchers, like Michael Orr (Cromford

Report) have noticed a new customer type called the “Permanent Renter”. These folks are previous owners who either

did a Short Sale or lost their home through Foreclosure and now have chosen the rental lifestyle over getting back into

the “Owner Occupant” financial challenge. They are high quality renters who take care of their domiciles and pay in a

timely way. They are a strong influence on positive dynamics in the future rental environment financials and they prefer

single family homes.

The properties analyzed in this report are single family detached properties in Greater Phoenix. Greater Phoenix is defined

as the cities of Maricopa & Pinal County, Arizona. The information in this report is from The Cromford Report. The Greater

Phoenix market is very fortunate, we are the only MLS in the United States that have the opportunity to have our market

analyzed by a local firm. which is information they utilize through ARMLS. ARMLS stands for Arizona Regional Multiple

Listing Service, Inc.

Greater Phoenix Sales price per sq. ft

January, 2010 to November 2012

The Cromford Market Index™ (CMI) is a single value that indicates the

balance of the residential resale market. Values below 100 indicate a

market that favors buyers. Values above 100 indicate a market that

favors sellers. A value of 100 is equally balanced. November 2011 the

CMI was at 155.4 and November 2012 164.1.

Phoenix market avg. price

November 2011 $86,000

November 2012 $120,000

Scottsdale market avg. price

November 2011 $358,000

November 2012 $383.000

Avondale market avg. price

November 2011 $94,900

November 2012 $115,000

Chandler market avg. price

November 2011 $165,000

November 2012 $185,000

Gilbert market avg. price

November 2011 $165,000

November 2012 $187,500

Glendale market avg. price

November 2011 $95,000

November 2012 $120,000

Goodyear market avg. price

November 2011 $140,000

November 2012 $165,000

Mesa market avg. price

November 2011 $ 115,000

November 2012 $138,000

Peoria market avg. price

November 2011 $138,939

November 2012 $164,876

Queen Creek market avg. price

November 2011 $99,000

November 2012 $128,300

Surprise market avg. price

November 2011 $121,000

November 2012 $140,000

Tempe market avg. price

November 2011 $142,000

November 2012 $163,875

Just to share a few teaser properties

with you!!

Tricia Lehane, REALTOR®

888.214.3069, 602.689.9977

tricia@choosearizonahomes.com

Golf course community – Tuscany Villas, Mesa

$219,000, 1303 sq. ft.

Golf course community – San Marcos, Chandler

Townhome - $254,000 1757 sq. ft.

Golf course community – Johnson Ranch,

San Tan Valley, Single family home

$124,000 1681 sq. ft.

Scottsdale Condo – Aventura

$102,000 663 sq. ft.

55+ & Golf course community – Terravita,

Scottsdale $379,000 1670 sq. ft.

For more detailed analysis, please e-mail

me @ tricia@choosearizonahomes.com or

Friend me on Facebook!