June 1, 2017 Terravita Market Update
For those of you back in the cooler climates you can rest comfortably knowing that we locals are now enjoying our normal average temperatures for this time of year. While it reminds us of what is coming in our future, it really is great now. (Particularly if you are a golfer. Less people playing, and the ball goes further!)
Speaking of averages, if you go by historical averages, Terravita had a good sales month in May with 10 homes going under contract. The reason I mention the “historical” averages though is that for the last 2 years the May sales numbers were anything but average. May sales for 2015 & 2016 were almost double the number we saw last month, and that leaves us behind in sales for the 2017 selling season.
As I mentioned last month, the new home builders are certainly a factor cutting into Terravita’s sales numbers. But there was another interesting article written that may be food for thought as well. Oddly, the article is written by a financial company based in London, England titled: Phoenix, Arizona: home sales below par in golf-course communities
Unfortunately, it is a subscription only website so I couldn’t create a link for you to read it. After speaking with a nice Financial Times employee named Ram who is based in Asia to try and obtain permission to share the piece, it didn’t work out. If you Google the headline though, you can likely find a link that works. I don’t think the article really says much of anything, but my job is to give you guys the info so that you can make your own decisions. He did give permission to post a small excerpt of the piece so here is that:
“Golf-course homes in remote locations are not selling as well as they once did,” says Orr. “Golf-course homes in the centre of the valley sell very well.” Phoenix Tastes have changed, Lieb says. Buyers want new homes with modern amenities, close to the city, not the big homes that are the staple of many of the outlying golf communities.”
Let’s hope for an exceptional June sales month and wherever you are, enjoy the summer weather.
Here are the May 2017 Terravita Real Estate Market Statistics:
May 1, 2017 Terravita Market Update
Overall the Terravita real estate market had a good month with 9 homes going under contract in April. Like last month, it was not a standout month for Terravita sales historically speaking. But in the new world of greatly increased new home builder competition, it was a good month. Looking forward, Terravita should see a large month for sales in May as it did in 2015 and 2016, but there is a caveat this year.
Most of the competing new home builders realize that this is an important month for them also. Consequently, many have large buyer incentives ending this month to convince second home buyers not to wait until the fall to buy their winter home. But this May, Terravita’s largest competitor not only has good buyer incentives, they have a strong argument that this will be the best time to buy in their community ever. We shall see how that affects Terravita sales.
Here are the April 2017 Terravita Real Estate Market Statistics:
April 1, 2017 Terravita Market Update
What a weekend for the Valley. We have great weather, the Final Four is here with all it’s affiliated concerts and events, the Coyotes are hosting the Capitals, and opening day for the Diamondbacks is Sunday. Jeesh! If you can’t have fun in this town, you’re just not trying!
Terravita had a good month with 13 homes going under contract in the month of March. Historically, that number is actually a bit low. The five year average for March is 16 homes under contract, but I think in our new normal, with lots of new home competition, 13 is a good number. That should keep Terravita on track for a year much like last year with just about one hundred sales for the year. So things are looking good locally.
Nationally, there is also much to be optimistic about. The economy looks strong as March saw consumer confidence surge to a 16+ year high, and the GDP grew over 2% in the first quarter. The housing market saw pending sales up well over last year’s numbers, and home prices jumped to their highest levels in 3 years.
When you consider all the info above, if you own real estate in Terravita, there is a lot to feel great about. Now if you can avoid any April Fool’s Jokes today . . .
By the way, for all of you pet lovers, Trulia has recently launched listings for your pets! Your pets will now have access to an online directory of “Rental Pawperties” for dog houses! Check out the full story here: Trulia Pets
Here are the March 2017 Terravita Real Estate Market Statistics:
March 1, 2017 Terravita Market Update
The Farmer’s Almanac says that “If March comes in like a lion, it will go out like a lamb.” March isn’t coming in like a lamb this year, it is more like a duck! Is anyone else sick of the rain here? I know we need the water, and I’m happy California is out of their drought, but c’mon. Enough is enough!
The weather certainly didn’t help Terravita sales in February. Seven homes under contract is lower than the historical averages for this month, and that could be due to the poor weather. It is more likely that sales are coming later into the season again this year as they did in 2016. We will keep our eye on it for you. Not to worry.
The Scott Gaertner Group is excited to announce its newest family member, and in this case it really is a family member! Scott’s oldest son, Ryan, will focus primarily as a buyer’s agent for our team. A graduate of Arizona State University, he has worked in business to business sales for the past four years and is excited to join our team.
Ryan and his wife Morgan just had their first child, Madilynn Shea Gaertner, in December. That being said, he is motivated to work harder than anyone to help you or someone you know looking to buy a home! He will be doing a lot of open houses in the upcoming months. So if you see one of our signs, pop in! He would love to meet you!
Here are the February 2017 Terravita Real Estate Market Statistics:
TERRAVITA SUPER SEASON XXIII KICK OFF!!!
Wow! What a Super Bowl. It doesn’t matter who you were pulling for, if you are a fan of football, that was a great game. It was also a great kickoff to the Terravita Super Season for 2017!
Newer readers to this blog may not realize that the end of the Super Bowl signals the beginning of what we call the “Terravita Super Season.” Historically this period, from now until the end of May, can represent up to 75% of Terravita’s sales for that year, making it the best time to sell or buy a home.
AND NOW A WORD FROM OUR SPONSOR . . .
As my readers know, I strongly believe that who you chose to represent you can dramatically effect your results and experience. If you or someone you know is considering buying or selling, I would like to humbly ask that you allow us to tell you why we could be your best choice. My oldest son, Ryan, has just joined the team and he is hungry to get started helping buyers find their new homes. Please email or give me a call at 480-634-5000!
Let’s get out there and have a great Super Season!
February 1, 2017 Terravita Market Update
Given the crazy, cold, wet weather we had in January, Terravita had a decent sales month. The 7 homes that went under contract was just about normal. And the average price per foot was above the 12 month running average, so I think we should call January a win and hope it is a trend. Speaking of trends . . .
Some of you may have already seen my Terravita Year In Review mailer, but I thought I might share a portion of that here for those who have not. It describes what might be an interesting trend in the Terravita market:
Averages can be deceiving. Our team studies much more than averages so that we can accurately counsel our clients. When you look beyond averages, you see that there are important trends which can dramatically impact both our marketing and your pricing. A good example would be the size of homes sold. When you look at the average size of Terravita homes sold in recent years, you don’t see much of a difference. But let’s take a look at what happens when you chart the median size of homes sold over the last few years:
See the trend line there? Think that might be important to know? It certainly could be. And that is just one example.
Studies show that consumers value “local knowledge” and “trust” as the two highest qualities for their real estate agent. For the past 24 years, and for over 500 home sales, I have done all I can to protect Terravita values and ensure my clients get the absolute best deal possible.
The final whistle of the Super Bowl marks the beginning of Terravita’s best selling season or what we call the “Terravita Super Season.” If you are considering selling your home this year, call me first and let me show you why I can confidently say that I will sell your home for more than it is worth, and I can do it for as little as a $990 full commission!
Here are the January 2017 Terravita Real Estate Market Statistics:
For more Terravita Market Updates, click here.