Weekly Newsletter For September 20th 2010 Page Five

Mortgage rates are at an all time low. We can not tell you what your rate would be, as the rate does depend on the length of the loan, the amount of the loan, your down payment, and your credit score.

We can tell you that interest rates have never been lower than they are right now. When you take the fact that the rates are the lowest in history, and couple that with the fact that the home prices are also the lowest they have been in many years, and you get that this is the best time to buy a Scottsdale home.

If you purchased your home prior to say 2004 or 2005, and you would like to move to a nicer, bigger home, or maybe downsize, or possible purchase an investment property, then now is the best time for you to make a move.

When it comes to purchasing a property, the best way to get started is to contact a Scottsdale Realtor right here at Scottsdale Arizona Houses, When you start with a Scottsdale Realtor here, we start by getting to know what your likes, wants and real estate desires are, and then get you in contact with one of our preferred lenders, all before we start looking at the first home.

We always like to start by getting you pre-qualified with a lender that we know and trust, that way you know, before you look at the first home, what dollar amount you qualify for, how much money you need to have for a down payment, what your interest rate will be, and the dollar amount you will be paying for your new Scottsdale home.

When you get pre-qualified, before looking at your first home, you know that every home you see you can qualify for the loan. If you start looking at homes, before you get pre-qualified, then you may be looking at homes that are either to high or to low in price. If you can afford more home than you have been looking at, then that is ok. If you start looking at homes, and discover that you do not qualify for that price range, and need to be in a lower price range, you may not like any of that price range, because they just don’t compare to the higher priced properties.

The entire process, starting from the first conversation we have with you, getting pre-qualified, finding the right Scottsdale property for you, writing and negotiating the contract for you, doing the inspections, getting the loan, signing all the documents, and closing escrow, to owning your new Scottsdale home, and getting your keys, can all happen in as little as 30 days.

The prices and interest rates will not stay this low forever. Call Jim at 602-284-6833 or Grace at 602-617-0529 today, and find out how easy we can make the entire process for you. If you act now, we can get you into your new home for the holiday season.
The following figures came from ARMLS. When we look at the sold figures for the period of 01/01/2009-09/20/2009, and compare then to the same period of time for this year, 01/01/2010-09/20/2010, we find the following figures.
total active single family detached Scottsdale homes, Sold Last Year: 58,190, This Year 55,268. The Average Number of Days On Market: Last Year 155, This Year 95. The Average Sales Price: Last Year $241,175, This Year $178,405. Days To Close: Last Year 104, This Year 44

The figures above show us that there were less homes sold this year, the properties were on the market for much less time, the average price is almost 63K less this year, and the time it took to close was almost a third the time it took to close last year.

According to the Cromford Report: There was a new Record High Set For Listing Success Rate.
On May 29, we recorded the highest listing success rate we have seen at 67.4%. We started measuring success rates in January 2006.

The listing success rate is defined as the percentage of listings that closed successfully in the preceeding monthly period (in this case April 29, 2010 to May 28, 2010). Listings that terminated unsuccessfully were either canceled or expired in that same period.

The lowest ever success rate of 20.4% was recorded on January 29, 2008.

Success rates are highest for lender owned properties (REOs) typically above 90%. However short sales and normal sales are also recording higher listing success rates than in the last several years.

The figures above are all based on “all areas & types” within the ARMLS database.


When we look at the Scottsdale home sales figures for the past 30 days,08/20/2010 to 09/20/2010, we find that the average sales price was $511.003, the average listed price was $560,618, and the average days on market were 191, and there were 92 Scottsdale homes sold.

When we look at the same figures for last year, 08/20/2009 to 09/20/2009, we find there were 349 sales for the same period, we find that the average sales price was $541,425, the average list price was $582,684, and the average days on market were 157.

When we look at the figures for last year at this time we see that there were 257 more homes sold last year for the same 30 day period, or almost 4 times the number of sales. When we take the average, we are only able to average 200 homes, so we took out the lowest 75 homes, and the highest 75 homes. So the average prices and days on market, for a year ago are only for the middle 200 homes.

We see that the homes that are on the market now are selling faster, and for less money than they did a year ago. The interest rates are also much lower this year than last, and the loans are easier to get this year, than they were last year,

Thank you for reading our Scottsdale Arizona Houses Newsletter for the week of 09/20/2010. Remember if you have any questions, or real estate needs, now is the best time to call Jim at 602-284-68363 or Grace at 602-617-0529. Have a fantastic day, and an even better tomorrow. We will see you again next week.

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