Home Price Index-Rising Real Estate Prices

Home Prices On The Rise.Phoenix Real Estate Market

The Case-Shiller Home Price Index (HPI) was published today. Although this report is very promising, it does not reflect activity thru May but from the 1st quarter of this year, January thru March. The median date of sales for this Index is about February 14th, and according to Michael Orr of the Cromford Report, this is about 3.5 months from today. To imagine the HPI for today’s market we would have to allow an additional 105 days of home price changes.

Phoenix still leads the 20 cities reported…up 22.5%. Phoenix’s increase over the last month of about 1.7% looks pretty modest compare to other cities that are racing to the top at an incredibly fast pace. Here are the 20 cities ranked by percentage between Februaru and March of 2013.

1. San Francisco 3.9%
2. Seattle 3.0%
3. Las Vegas 2.7%
4. Portland 2.7%
5. Tampa 2.6%
6. Charlotte 2.4%
7. Los Angeles 2.3%
8. San Diego 2.2%
9. Phoenix 1.7%
10. Washington 1.7%
11. Denver 1.4%
12. Atlanta 1.3%
13. Dallas 1.3%
14. Miami 1.2%
15. Boston 1.2%
16. Detroit 0.0%
17. Cleveland 0.0%
18. Chicago 0.0%
19. New York -0.4%
20. Minneapolis -1.1%

The overall gain is about 1.4% which reflects the strong seasonal gain exhibited by some of these areas, but cities such as Minneapolis and New York are showing a decline as their market is different than other cities since they have “different” weather patterns which affects their seasonal growth for this time of year.

Looking at the 20 cities over the past 12 months we can see the following changes.

1. Phoenix 22.5%
2. San Francisco 22.2%
3. Las Vegas 20.6%
4. Atlanta 19.1%
5. Detroit 18.5%
6. Los Angeles 16.6%
7. Portland 12.8%
8. Minneapolis 12.5%
9. San Diego 12.1%
10. Tampa 11.8%
11. Miami 10.7%
12. Seattle 10.6%
13. Denver 9.8%
14. Chicago 7.8%
15. Washington 7.7%
16. Charlotte 7.3%
17. Dallas 6.8%
18. Boston 6.7%
19. Cleveland 4.8%
20. New York 2.6%

Contact me for up to the minute market updates and a more detailed report of what is going on in yor neighborhood. We will be happy to customize a report for you and your community.

Sprouts Comes to Arrowhead Ranch

Finally….Sprouts Farmers Market Comes to Arrowhead RanchSprouts Farmers Market

Sprouts Farmer’s Market will be opening a new store at 67th Ave and Deer Valley, in the old Basha’s location.  Basha’s left in 2009 and ever since then residents have been lobbying for Sprouts to take its place. The 27,000 square foot store will open in August and employ about 80 people. Check out their website for job postings.

For those not familiar with Sprouts, it is a neighborhood grocery with the feel of a local farmers market. You will find fresh fruit and vegetables, specialty foods, gourmet cheeses and barrels of whole grain nuts and sweets. Thousands of natural, organic and gluten free foods to help you make healthy choices for you and your family. Oh and their fruit and vegetables…sweet, ripe and their prices are great.

There is a lot of excitement in the community and we are all looking forward to having our very own neighborhood grocer. For more information on Sprouts, check out their site.

West Valley Business Sees a Bright Future

Glendale's WestgateThe Future Looks Bright for West Valley Businesses.

Each year business and city leaders meet to discuss the economic development of the West Valley, focusing on the West Valley’s strengths and weaknesses in drawing new business to this side of town. WESTMARC’s economic development summit held here in Glendale last week has lots of people excited about the bright future in store for Valley businesses planning on relocating/expanding to the West Valley. According to Barry Broome, president and CEO of GPEC, said “I;m really excited about the West Valley.  I’m very bullish….sixty-eight percent of projected economic growth in the region is going to be in the West Valley.”

Some of the other businesses planning on having a strong presence in the West Valley is ST. Joseph’s Hospital and Medical Center, Dignity Healthcare, an acute care facility, will soon open a new location with St. Joseph’s Westgate. Healthcare is an economic driver and this will prove to be a great partnership in the West Valley.

Maxwell Technologies, a San Diego based company that manufactures ultracapacitors. This company has been growing at a rate of 20 percent for the past six years and is now plan on building a new Peoria facility that they expect will have over 150 employess by 2015 as they expand their manufacturing.

Many other existing companies explained to the group why they chose the West Valley to grow their business and how the cities of Glendale, Peoria, WESTMARC and the Greater Phoenix Economic Council worked together to win their hearts and help grow the West Valley.

Thanks to Jeff Dempsey at Glendale-Peoria Today for this great article.  Click here to read more.

Sonoran Mountain Ranch, Peoria AZ

Sonoran Mountain RanchSonoran Mountain Ranch, Peoria AZ

In the Northwest Valley north of 67th Ave & Happy Valley Rd, you will find Sonoran Mountain Ranch with its breathtaking desert views. The high desert setting offers homeowners views of the surrounding landscape while dedicated to preserving the open space and natural beauty of the desert. There are extensive hiking trails, parks, natural washes and spectacular mountain views.

There are many different floor plans and builders to chose from in Sonoran Mountain Ranch; some of these include Camelot Homes, Cresleigh Homes, Element Homes, Maracay, Morrison, Shea Homes, Standard Pacific and custom homes by Desert Cove Homes.

There are approximately 1468 homes in Sonoran Mountain Ranch. 345 of these homes have pools, 660 are single story.  Roughly 100 homes sit on lots that are larger than 15,000 Square Feet.

The schools served by Sonoran Mountain are some of the best in Deer Valley School District; Terramar, and Sandra Day O’Connor High School. There is also some great shopping, hiking, and walking paths nearby. The shops at Norterra on Happy Valley Rd, just east of the 101 offer fantastic shopping, boutiques and a variety of dining choices as well as some of your big box stores and a Harkins Movie Theatre.

If you are looking for a community with expansive desert views but still close to all the conveniences, then Sonoran Mountain Ranch will have a home just for you.