Anthem AZ 85086 Market Report – February 2012

As a Realtor living and working in the Phoenix Metro Area  I am often asked what parts of the Valley are selling well? What areas are seeing price increases or decreases and where will buyers get the best deal: Lender Owned (REO), Short Sales (SS) or Traditional (Norm)?

Below is an example of research that I supply to buyers and sellers. It can be narrowed or expanded to meet the needs of the client. Here’s an overview of the Anthem, AZ 85086 Market between December 30th 2011 and January 30th 2012.

The Anthem market has remained very stable over the past four months with numbers in each category fluctuating less than 3% up or down.

The only exceptions are Days On Market in all three categories REO, SS and Normal Sales with a downturn in REO List Price Per Square Foot and REO Sold Price Per Square Foot.

I believe the downturn in REO List/Sold PPSF is due, in part,  to a tendency for lenders to originally list REO properties at a price higher than their true market value and then gradually lower the price every 15 to 30 days until the property begins to generate interest (contracts).

Unfortunately, what often happens is buyers and buyers agents see that an REO has been on the market for 90+ days and assume there is a major problem with the property and avoid it. This causes the lender to lower the price below market value in order to generate interest.

Because the numbers used in the statistical analysis are the last List PPSF before the sale, the numbers will be lower as will the REO Sold PPSF numbers. It only takes a few properties priced this way to skew the numbers for an entire zip code especially if there are only 11 active properties.

I believe that Normal and Short Sale List/Sale PPSF numbers having remained flat, or trending up slightly, are further evidence to support my theory on REO’s.

What do these numbers mean for buyers? It’s a great time to buy a home in Anthem. Prices are very low and interest rates have no where to go but up. Call me and let’s find your dream home.

What do these numbers mean for sellers? Total active listings are at a five month low. If you’re selling a home you have less competition, and Normal List/Sold Price Per Square Foot has been gradually increasing over the last four months.

More homes will be coming on the market if you’re thinking of listing your home now is the time. Call me and let’s discuss your options.

If you have specific questions about the Anthem market I’d be happy to answer them. E-mail or call (602) 793-1627 for a Statistical Market Analysis. Base your buying or selling decisions on facts not opinions. The consultation is free.