It’s time to move up or move on!! Ashley and Jeff briefly discuss housing strategies of 2012 and what to do before the Mortgage Forgiveness Act of 2007 expires at the end of this year.

See Scottsdale Az Real Estate statistics for the last 12 months.

Ashley and Jeff talk about how the media was SO wrong in their predictions for 2011 inventory numbers and give you the “meat and potatoes” of the 2011 market recap as well as what to expect in 2012.

See Scottsdale Az Real Estate statistics for the last 12 months.

Jeff and Ashley explain how your house will effect a buyer walking through the front door. Find out how your home will sell in the first 7 steps.

See Scottsdale Az Real Estate statistics for the last 12 months.

Smell is one of the first impressions people get when they enter your home. Do these simple things to make a great impression on potential buyers!!

See Scottsdale Az Real Estate statistics for the last 12 months.

Ashley and Jeff discuss the most important things to have right when it comes to selling your home. Price, access and curb appeal are at the top of the list!

See Scottsdale Az Real Estate statistics for the last 12 months.

Skip the fluff and give me the facts!! Scottsdale Realtors Ashley Leroux and Jeff Sibbach explain the difference between media market updates, and our true status here in Maricopa County.

See Scottsdale Az Real Estate statistics for the last 12 months.

The amount of “distressed inventory” continues to impress us with the way that it plummets week after week.

Distressed inventory is the number of homes with an “active notice of default” combined with the number of properties that the bank currently owns.

At the beginning of 2011, the amount of homes in distress was 58,613.

At the end of May, those numbers had dropped to 45,847.

On average, the distressed inventory has fallen 2,553 homes per month over the last five months, as noted in the chart below:

What does this mean for prospective buyers and sellers in Scottsdale?

Thank goodness the math is simple, as math never was my strong suit. 

If distressed inventory continues to decline at its current rate, within 10 months it will all be gone.

My Real Estate partner and long time friend Jeff Sibbach — North Scottsdale Real Estate expert — makes some very insightful and valid points:

I wanted to put together of some factual data points that the media chooses not to print that would point to a very strong Scottsdale/Phoenix housing market and why, if you want to get a great deal on a house you should be buying right now.

1) Experts, economists and talking heads predicted our Inventory (Scottsdale AZ homes for sale) and our Shadow Inventory would swell during the first half of the year. The reality our Inventory and Shadow Inventory are off 50% during the time of their predictions. Recap: they predicted an increase of up to double the inventory in some cases, so they were off by 100%. So why are we still giving them credibility?

2) In classical economic theory, the relation between supply and demand determines the price of a commodity. This relationship is thought to be the driving force in a free market. As demand for an item increases, prices rise. Plain and simple, when there is low inventory, prices rise, coincidently that is what our real estate market looks like today yet everyone is predicting gloom and doom.

So What Now?

If you or someone you know have been considering buying or selling your Scottsdale AZ home, the bad / good news (depending on which side of the fence you are) is that home prices are likely to increase very soon.  Visit ScottsdaleAzHomesForSale.com to do your own FREE home search, or contact me to set up a customized search for you.

Maricopa

We are now at 20,784 homes on the market (as of July 21, 2011) compared to 30,479 (as of 4/29/11) – a 20% drop in the past 2 months (a total of 45% drop since November).

You can always go here for the latest Scottsdale AZ Real Estate Market Stats.

Here’s your fast (and fun) Scottsdale AZ Real Estate Market Update for July 2011.

Summary: Yahoo! Finance says that home prices are supposed to drop by 20%.  Scottsdale Realtor Jeff Sibbach and I discuss if the data really supports that claim.

Here’s the Scottsdale AZ Real Estate Market Stats for the last 12 months.

Your Scottsdale AZ Real Estate Market Update for May 2011, staring Ashley and Jeff.

Summary: This month we look at the accuracy of popular internet sources like Zillow.com. It’s not nearly as close as you think.

Here’s the Scottsdale AZ Real Estate Market Stats for the last 12 months.