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WELCOME TO YOUR ARIZONA REAL ESTATE SOURCE!
Here, you will gain access to information about thousands of Arizona homes for sale; local schools, their test scores and rankings; Arizona news, and the current status of the housing market. Feel free to search this website for homes located in Chandler and surrounding cities such as Scottsdale, Gilbert, Mesa, Phoenix, Paradise Valley, Tempe, Maricopa, and Queen Creek.
This online resource will provide you with pictures, virtual tours, detailed descriptions and pricing for thousands of homes available right now in Arizona!
So, what's been happening in the Arizona real estate market?
In yesterday's competitive real estate market, the saying used to be that timing was everything. Buyers would scramble in the white hot Arizona real estate market to pickup something (anything) at just over $20,000 above listing price. Those days are long gone!. We have transitioned from an outstanding seller's market, directly into the most tremendous buyer's market in over 20 years. |
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What does this mean? If you are a buyer, it means you have to be very careful in selecting an agent to represent you. You want someone that will assist you in finding your dream home; and then agressively help you negotiate the price. Deals are out there! In fact, there are over 45,000 re-sale homes and thousands of completed new homes on the market today. Hire someone that will help you find the right property, at the right price, and that will do it at NO COST to you!
If you are a seller - you must price your home aggressively AND YOU MUST HIRE A MARKETING EXPERT! The way sellers maximize profits is to ensure the largest number of potential interested buyers see their home. A sign, post and flyer won't cut it any longer. You need an agent representing you that has a strong marketing plan.
We specialize in helping home buyers find their dream home! We walk our clients through all aspects of the home purchase. Our team consists of specialists in all areas of your purchase or sale. Need an outstanding Realtor, Loan Officer, Escrow Officer, Home Inspector, Termite Inspector, or Handyman? We have outstanding people that will help simlify the real estate process and make your experience as relaxed as possible. Team members such as Heather Sorensen, a Loan Officer with 1st Advantage Mortgage, will provide you with top of the line job knowledge for their area of expertise and excellent customer service (please see the mortgage page for Heather's direct contact information). We invite you to contact us as we'd be happy to assist you with this important transaction. If you need to sell your home before purchasing, we can help you with your property sale as well.
In addition, if you have any general questions about buying or selling real estate in Arizona, please contact us as we're more than willing to help.
Please browse our website for listings, reports, and important local real estate information.
Sincerely,
Sean P Carroll Team
Tom Chambers Properties |
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CURRENT MARKET CONDITIONS IN OCOTILLO (CHANDLER ARIZONA) |
So, you've heard us mention that we've transitioned from a sellers market to the best buyers market we've seen in years, here in the Ocotillo area of Chandler (and the valley as a whole). What does that mean? Specifically, it means that you can purchase a house today for sometimes $50,000 (on a $200,000 house) and sometimes $400,000 (on a $675,000 house) less money than you needed on October of 2005 (which was the peak for the most part of home prices in Arizona). The percentage obviously depends on what part of town you are looking in and how motivated the seller is. In the case of the Ocotillo market, as an example, sales are down anywhere from 25 - 50%. In Scottsdale, home prices have for the most part, only decreased 15 - 25%. The far East and West (Queen Creek, Maricopa, Coolidge, Surprise, etc) have been the hardest hit. Homes in those areas can be purchased at prices that would have been unheard of at any point in the last 6 years.
What caused the market to change? There was buyer anxiety for the last several years of the housing surge. Many experts predicted that the market would fall apart at least a year before there were any declines at all. So it really wasn't the press, or investors worrying. It was something far more simple. Affordability.... As house prices had been climbing during the seller's market, interest rates continually dropped further and further. The combination lead to a balance in affordability so the market continued without problem. When the Federal Reserve began raising interest rates as a hedge against inflation, those .25% increases began to have an impact on the rates buyers were paying for their homes. Eventually, affordability became a bigger and bigger concern and it eventually shifted the real estate market. From there, current homeowners couldn't sell and had adjustable rate mortgages that began climbing. That lead to a HUGE increase in foreclosures, which caused lending institutions to raise standards required for new customers which further destabalized the markets.
This ofcouse, leads us to today and the great buyers market. While there are outstanding deals available, not every deal or house is the same. Many of the 45,000 resale homes remain on the market because they are overpriced. Some are priced above 2005 levels, even today. If you are thinking about buying, you need someone on your side to help you when you decide to buy. Contact us for FREE assistance! We'll listen to your needs, take the time necessary to help you, and provide you with excellent customer service and a superior overall experience! |
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WE JUST PURCHASED OUR NEW HOME!
We had been renting for awhile, sitting the down market out, and finally decided it was time to jump back in and own our own house again. The home buying process, even for Realtors who have helped many purchasers find their dream homes, can be daunting. In today's market, it's even more the case than during normal markets.
We began our search basically eliminating one of the four types of properties that are available in the Arizona housing market today: Short Sale Properties. Those are homes where the current owners owe more than the properties are worth. The premise is simple. The owners have a house that's worth $300,000, but owe $550,000 to a bank for it. They want the bank to forgive $250,000 of their loan and allow someone else to purchase it. The thinking behind this type of deal is that eventually the house will end up in foreclosure. When that happens, the house might not be as well taken care of. The market could have also slid further. So, why not try and work something out today. The problem is that less than 10% of short sale properties are successfully sold. Even when they are sold, it's usually between 3 months and 6 months later when the deal finally goes through. I've known people that have been trying to negotiate in good faith for 5 or 6 months, only to end up frustrated.
A second type of property wasn't initially eliminated....but we didn't end up seeing any. That's builder owned (spec) homes. We didn't want to limit ourselves to the specific areas that had spec homes available. Also, other than in the outlying area, re-sale homes are better deals today than builder specs.
That left us with two options...regular re-sale homes and bank owned (foreclosures) homes. We toured through at least 20 of these properties and looked at hundreds on the web. It is important to complete research up front on both types of properties before actually visiting either. This will save time and money. Upfront research would include studying area comparable properties (what are homes selling for in the vicinity) and for re-sale properties, how much does the current owner probably owe.
We ended up finding our dream home in Ocotillo. We purchased it at 2002 prices. It was a win-win deal because the seller did not have to pay any money out of pocket (their original purchase price and realtor commissions were taken care of). We bought an Engle built home built around a greenbelt, lakes, and lots of shopping that we absolutely love. We had toured the same plan years earlier and liked it back then. It's beautiful and spacious. It has a great view - - and - - it's in an outstanding community.
If you are looking for a newer home, that's not too far out of town, where there's a lot of shopping, greenery (very important to us), and schools that aren't far, Ocotillo is the place to be!
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MASTER PLANNED COMMUNITIES IN CHANDLER, GILBERT, SCOTTSDALE, QUEEN CREEK, MESA, AND COOLIDGE
Relocating? One of the largest differences, besides the wonderful weather and beautiful landscape that you'll notice in the Phoenix Metro Area (Chandler, Gilbert, Scottsdale, Queen Creek, Coolidge, Maricopa etc) is the large number of master planned communities. Arizona has hundreds of gorgeous communities, that contain their own hiking and biking trails, playgrounds, community swimming pools, golf courses, fitness centers, schools, resturants, shops, etc. We've listed some very popular communities below, listed by city. Some are very lush, filled with grass, lakes, palm trees etc. Others are serene desert-scaped communities with cacti, wildlife, surrounded by mountains etc. Feel free to contact us for further information on any of these communities or look below for some additional community details.
Chandler
Fox Crossing, Ocotillo, Clemente Ranch, SunLakes (Active Adult Community).
Scottsdale
Park Scottsdale , Hayden Estates, Papago Parkway, Gainey Ranch, McCormick Ranch, Scottsdale Ranch, McDowell Mountain Ranch, DC Ranch, Grayhawk, Troon North, Legends Trail.
Gilbert
Western Skies, Power Ranch, ValVistaLakes, GreenfieldLakes, Spectrum, Seville.
Mesa
La Sendas.
Queen Creek
Johnson Ranch, San Tan Heights, Morning Sun Farms, Queenland Manor.
Coolidge
Anthem East. |
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Whether you are planning to buy your first home or sell your existing home, contact us today!
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