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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.

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.

Tempe Festival of the Arts

Arizona Wine Growers AssocaitionnArizona Stronghold will be pouring at the Tempe Festival of the Arts, April 5th -7th.  As many as 400 artist booths line Mill Avenue and the surrounding streets presenting unique, and hand-made artwork that offers visitors a distinctive shopping experience.  In partnership with the Arizona Wine Growers Association, the Tempe Festival of the Arts is proud to continue our presentation of the Arizona Wine Festival Gardens, bringing the best in Arizona wines to complement the ambiance of a fine arts festival environment! Arizona wine growers are on hand for tastings, serving, and are selling their fruits of the vine by the bottle or case on-site.

Located on Mill Avenue between 3rd Street and University Drive in Downtown Tempe

Did you know that Arizona has an emerging wine industry in Cochise Santa Cruz and Yavapai Counties. People are beginning to recognize Arizona as an up and coming wine producer. Visit Arizona Wine Growers Association for more news and information.

Courtesy of Sedona Chamber of Commerce  Sedona Chamber of Commerce

Arizonan’s Favorite Vacation Spots

San Diego Sicilian FestivalSAN DIEGO SICILIAN FESTIVAL, MAY 19TH

Arizonan’s have many ways to escape the summer heat and one of our favorite vacation spots is San Diego, Calif. Check out this fun event. What began as a neighborhood celebration 20 years ago has grown into a multi-block, colorful, musical and culinary celebration of everything Sicilian. Grape stomping,  Sicilian treats, cultural displays, folk-dancing and nonstop live entertainment. Plus a festive Bambino Zone and Bellissimo Car Show.

Headling this years 20th Anniversary event is The Sicilian Tenors, direct from New York City. Three Sicilian American tenors, Aaron Caruso, Elio Scaccio, and Sam  Vitale, will take the Sicilian Festival audience on a romantic musical journey during their dynamic presentation.

The Sicilian Festival is also the perfect venue for families with children. All children’s activities are FREE, and include a large inflatable slide, puppet theatre shows, face painting, and many other activities to keep the bambini entertained throughout day-without emptying their parents’ pocketbooks!

Admission: Free. Locatiion: Little Italy section of Downtown San Diego. Time: 10am-6pm. For more information, log on to the Sicilian Festival website at www.sicilianfesta.com

 

Distressed Home Sales- Phoenix Real Estate

Distressed Home Sales-Phoenix Real EstateDistressed Home Sales – Phoenix Real Estate

 

The stats are out and just as we have said the market is recovering but really how much? Here is the real story.

Distressed Home Sales – Phoenix Real Estate dominated the landscapae of our market in recent years. Prior to 2011, lender owned (bank owned) home sales outpaced the short sale market.  By 2011 that trend was reversed and short sales became the primary component of Distressed Home Sales in Phoenix Real Estate Market. By the end of 2012 short sales outnumbered lender owned sales by 2:1. Read more

Glendale Homes For Sale-Westbrook Village-Active Adult Community

Westbrook Village.

Westbrook002Westbrook Village is located just north of Union Hills and between 83rd ave and 99th Ave. This adult community requires that at  least one permanent resident of each unit be 40 years of age or older and no more than 20% of all residences in Westbrook Village may have the oldest resident between 40 and 54 years of age. Westbrook loves our snowbirds and there is also an RV Parking Lot right in the community for those who like to travel.

* Did you know that during WWII, part of Westbrook Village (NW of Union Hills & 83rd Ave) was an auxiliary airfield for Chinese and Royal Air Force pilots training at the nearby Thunderbird Field (Greenway & 59th Ave)?

Click here to learn more about Westbrook Village

 

Arizona Songwriters Gathering January 19th

Arizona Songwriters GatheringDo you have a song in your heart? Well it might take a little more talent than that but Arizona Songwriters Association is holding their 17th Annual event at the Glendale’s Main Library at 5959 W. Brown St on January 19th. This is a free event which gives songwriters an opportunity to showcase their talents in front of audiences and their peers and participate in workshops with some of the top names in the business. Some of the topics covered in the workshops include getting songs into film and television and music technology.  For more information visit ASA at www.azsongwriters.com

Luke Air Force Base Open House March 16th and 17th

     Luke’s biennial Open House and Air Show is a popular West Valley event, averaging more than 100,000 spectators each day.  There will be something for everyone at this open house; food, games and some great attractions and ground displays.  This year the Thunderbirds, the United States’ Air Force’s Aerial Demonstrations Team, will be the featured event. Also in the air show lineup is an F-16 close air support demonstration and a Marine Corps AV-8 Harrier demonstration. Read more

Arizona’s 1st Veterinary School

Arizona’s 1st Veterinary School

Midwestern University in Glendale will break ground on the state’s first veterinary school. This new facility located at 57th Ave and Utopia, will be directly across from the main campus which includes College of Osteopathic Medicine, College of Pharmacy, College of Health Sciences, College of Optometry and College of Dental Medicine. The new school will house a 76,000 square foot academic building, a 50,000 square foot large animal teaching facility and a 100,000 square foot small animal clinical building. Glendale's Midwestern University Campus Read more