Market Conditions in 85255>Question Details

Samdebguill, Home Buyer in Scottsdale, AZ

Are home prices in the 85255 & 85259 zip codes begining to stabalize?

Asked by Samdebguill, Scottsdale, AZ Sun Feb 26, 2012

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Andy Griffin’s answer
85259 is experiencing some slight appreciation, though 85255 is a little behind. The lenders are not foreclosing as quickly which is bringing supply down. Although it could be debated I believe that if you find a property that you LOVE in this zipcode jump on it. There are a lot of people out there looking for the right home and with inventory so low it is typically the less desirable homes that are sitting and bringing down the numbers when they do close. With prices this low and interest rates at all time lows, I believe its time to buy the RIGHT home when you see it.

Both of these area's are in great parts of Scottsdale and will be some of the best overall sub-markets.
Web Reference: http://griffinmoody.com
0 votes Thank Flag Link Mon Feb 27, 2012
BEST ANSWER
Dear Sam:

Here is my Monthly Market Report for February for zip code 85255
http://screencast.com/t/WggcplFgjg4

Here is my Monthly Market Report for February for zip code 85259
http://screencast.com/t/q8ZJHxFbrq

LOOKS like 85259 have INCREASED $11.00 per square foot in the month of January

Hope this helps.

Terry S. Smith
Arizona Resident for 46 years, grew up in Scottsdale, AZ
Web Reference: Http://TinyUrl.com/85259Az
0 votes Thank Flag Link Sun Feb 26, 2012
Feel free to click on the link below to view the current market trends in Scottsdale.
0 votes Thank Flag Link Tue Oct 15, 2013
Increases in home prices have slowed slightly due to summer temperatures. This is seasonal. We expect prices to continue to climb in September and again through January and February.

Inventory is low and expected to remain low for the foreseeable future. New home sales are at low dating back to WWII (according to Micheal Orr of the Cromford Report). We are still getting 60K+ new people coming to the valley each year.

Once temperatures fall below 100 degrees expect activity to pick up and therefore prices.

I live in 85255 and can give you a full history if you like. We can give you information right down to neighborhood performance and even most popular home models.

Find more at: ScottsdaleScott.com
0 votes Thank Flag Link Fri Aug 23, 2013
I would like to send you a report which includes Market Conditions from 2001 - 2013. Please provide me with the best email address that you can be reached.


Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: http://www.InvestInArizonaHomes.com
0 votes Thank Flag Link Sat Jul 27, 2013
Home prices have been going up due to low inventory. Buy now and be glad you did in a few years because home values will continue to appreciate.
0 votes Thank Flag Link Sat Jul 13, 2013
I'd be happy to provide current market updates if you are interested in particular neighborhoods. We can explore which would be the best opportunity for your preferences. In addition to real estate services, I am also able to assist with renovation and design services to create your extraordinary desert lifestyle. Please feel free to contact me for your complimentary consultation.

Your Desert Lifestyle Concierge,

Amy Schwab
Web Reference: http://www.schwabluxury.com
0 votes Thank Flag Link Mon Feb 27, 2012
Sam
With Inventory below a balanced market at under 17000 units where 33,000 represents a balanced market we have more buyers bidding on fewer homes which have increased prices in lower price points and remained competitive mid price points and room still in luxury to bid competitively. With interest rates still very low it is a good time to take advantage and buy. Know what you want so you can move when it's found and have a professional consultant on your side.
0 votes Thank Flag Link Sun Feb 26, 2012
Samdebguill

Market conditions has been improving and inventory is down below what we would have in a good market. We will continue to have foreclosures and short sales for a while, but most outlooks are positive. There is an increase of buyers which adds to the multiple offers that we have experienced for the past couple years. We have had a flood of investors buying and now the number of owner occupant buyers has increased sharply. Many anticipate 2012 to be the turning point in the market and a very good time to buy.

If you want to search the properties like Realtors do, you can use my link:
http://link.flexmls.com/ua70wacvime,12

If you need assistance in your home search we would love to help.

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
**** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ****
0 votes Thank Flag Link Sun Feb 26, 2012
The prices have started edging up in Scottsdale and the Phoenix metro area in general. Now is a great time to purchase a home with prices still low and interest rates low as well.
0 votes Thank Flag Link Sun Feb 26, 2012
Yes they have. Need proof? Give me a call.
0 votes Thank Flag Link Sun Feb 26, 2012
In my opinion, home prices bottomed out a while ago - maybe a year or so and are working their way up slowly. Of course this could change and reverse at any time as market conditions change continually. I see this evidenced by the following: The number of properties available in Scottsdale today as compared to a year ago is severely down, low priced properties are rapidly going away. I also see bidding wars on any property that is in good condition and priced well. Finally, I see so many buyers entering the market as first-time home buyers, vacation home buyers and investors. With interest rates at all time lows, it is truly a great time to buy. If you are thinking about getting into a property, get yourself pre-approved and start looking soon. If you need help, I or anyone else here on Trulia can give you great guidance and professional help with your purchase. Wishing you only the best in your home search!
0 votes Thank Flag Link Sun Feb 26, 2012
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