Chandler, AZ - Housing Market Update

In Chandler, the median sold price for Single Family Detached real estate for November was $210,000, representing a decrease of 4.5% compared to last month and an increase of 24.3% from Nov 2011. The average days on market for units sold in November was 56 days, 39% below the 5-year November average of 92 days. There was an 8.4% month over month decrease in new contract activity with 428 new contracts; a 3.9% month over month decrease in all Pendings (new contracts + contracts carried over from October) to 754; and a 1.3% increase in supply to 622 active units.

This activity resulted in a contract ratio of 1.21 pendings per active listing, down from 1.28 in October and an increase from 0.68 in November 2011. The contract ratio is 137% higher than the…

2132 Views, 0 Comments

Gilbert, AZ Real Estate Market Update

In Gilbert, AZ, the median sold price for Single Family Detached real estate for October 2012 was $215,000, representing a decrease of 0.5% compared to last month and an increase of 36.9% from Oct 2011. The average days on market for units sold in October was 57 days, 38% below the 5-year October average of 92 days. There was a 5.6% month over month increase in new contract activity with 491 New Contracts; a 0.5% month over month decrease in all pendings (new contracts + contracts carried over from September) to 883; and a 5.2% increase in supply to 549 active units.

This Gilbert houseing activity resulted in a Contract Ratio of 1.61 pendings per active listing, down from 1.70 in September and an increase from 0.76 in October 2011. The contract ratio is…

1983 Views, 0 Comments

The Effects of the Holidays Have on The Housing Market

Follow Us On:

We generally think of the holiday season as causing explosions of bad (if sweet) sweaters, creating waistline expansion and snowballing into bank account shrinkage. But there are loads of less obvious implications of the holidays - both good and bad - in every area of life.
For example, I recently read that household energy use spikes almost 39 percent in December (bad), due to holiday lighting (good) and baking (good) and all the extra time we run the furnace for our holiday guests (good). Depression and alcohol use go up, but so does charitable giving. Stress goes up, but so do acts of kindness.

What if we applied that same, balanced eye to understanding the effects the holidays are likely to have on your local real estate…

4276 Views, 0 Comments

Seattle Home Sales Post the Best November in Six Years!

Follow Us On: 

High demand, low inventory sparking multiple offers, market momentum

KIRKLAND, Wash. (Dec. 5, 2012) – Real estate brokers expected some seasonal slowing during November, but last month’s falloff was less than what some industry veterans anticipated. Members of Northwest Multiple Listing Service reported 6,522 pending sales last month -- the highest total for November in six years.

"The market is done with needed correction," declared one broker.

New figures from the MLS show last month’s pending sales rose 6.9 percent compared to a year ago, and was the best November for mutually accepted offers since 2006 when members tallied 7,022 pending transactions. As expected, the volume dropped from October’s total of 8,312…

2782 Views, 0 Comments

Phoenix Real Estate Prices On The Rise Again

Metro Phoenix’s median real estate price climbed 5 percent in October after four months of remaining flat. The region’s median price of an existing house reached $157,000 in October, up from $150,000 during the previous few months, according to Arizona State University’s W.P. Carey School of Business.  “The summer lull ended, and we had an influx of snowbirds and other buyers,” Mike Orr, director of Real Estate Theory for the business school, said in the report. Metro Phoenix’s median home price is up 34 percent from a year earlier.  An increase in sales in October pushed home prices higher.  “We’re seeing about 5 percent more sales activity this October than last October,” Orr said. The price and sales increases occurred as the supply of homes for sale…

1909 Views, 0 Comments

A Mortgage From Wal-Mart? 33% Say They Want One!

One in three consumers say they’d consider getting a mortgage from discount retailer Wal-Mart if they offered them, according to a study of 618 U.S. consumers conducted by Carlisle & Gallagher Consulting Group. The company provides consulting services to some of the top U.S. mortgage originators.

Nearly half surveyed said they’d also consider a mortgage from PayPal, an online payment provider. Neither company offers mortgages. 

The study is an indication that consumers are willing to try alternative lenders, says Doug Hautop, lending practice lead at Carlisle & Gallagher Consulting Group. 

Should banks feel threatened? Non-bank mortgage companies, such as Quicken Loans and Nationstar…

3023 Views, 0 Comments

Welcome To The Team - Cynthia Thompson

We are happy to welcome Cynthia Thompson to The Cascade Team in Arizona.  Cynthia is a transplant from the Seattle area as well and comes to us with a deep knowledge of both the real estate business and opening and operating a brokerage.  In Seattle she worked for Better Properties, helped them open a number of offices throughout the Seattle/Tacoma area, and ran a branch with 50+ agents.  She is going to be focused on building a team and opening a new office in the Gilbert/Chandler area.  We are glad to have her working with us and know that she will be a great asset in developing the Greater Phoenix market.

480-719-1517 - Ext 701
cynthia@thecascadeteam.com

Real Estate Agents That Offer YOU Local Knowledge & Personal Service

Cascade Team Real…

4303 Views, 0 Comments

Holiday Home Safety Tips

Holiday Lighting

• Use caution with holiday decorations and, whenever possible, choose those made with flame-resistant, flame-retardant and non-combustible materials.
• Keep candles away from decorations and other combustible materials, and do not use candles to decorate Christmas trees.     
• Carefully inspect new and previously used light strings, and replace damaged items before plugging lights in. Do not overload extension cords.
• Don't mount lights in any way that can damage the cord's wire insulation. To hold lights in place, string them through hooks or insulated staples--don't use nails or tacks. Never pull or tug lights to remove them.
• Keep children and pets away from light strings and electrical decorations.
• Never use electric…

3516 Views, 0 Comments

Grand Ridge Elementary @ The Issaquah Highlands Boundary Change

• They expect about 987 elementary-aged students (full-time equivalents) in the current Grand Ridge attendance area next school year. Even with the 10 additional portable classrooms on site now, this exceeds possible housing at Grand Ridge.
• To balance enrollment, all full-day and half-day kindergartners will be housed at Challenger and Endeavour Elementary beginning next fall. We will group neighborhood areas together evenly among both schools after kindergarten enrollment numbers are confirmed in March.
• The change in the boundary will move 175 students in newly developed or soon-to-be developed areas in the Issaquah Highlands (see map) to Clark Elementary, which has capacity to house the students and will soon have a brand new building.
• …

5968 Views, 0 Comments

Pending Home Sales On The Rise - Phoenix and San Diego

Pending home sales are on the rise as is visible by the lack of housing inventory in both the Greater Phoenix and San Diego markets.  The National Association of Realtors is reporting strong month over month and year over year increases in pending home sales.  This will definitely make it more challenging for buyers and for real estate agents who have buyers in these markets.  Knowing as soon as poosible when new home inventory hits the market will be key to getting in on a purchase before it gets snapped up by someone else.

Pending sales of existing homes were up 5.2 percent from September to October and 13.2 percent from a year ago, according to an index maintained by the National Association of Realtors.

NAR's Pending Home Sales Index, which…

1816 Views, 0 Comments