Market Conditions in 85308>Question Details

Ann Rose, Home Buyer in Nebraska

There are alot of homes for sale in the arrowhead area why???? So is this an area to look at or are problems

Asked by Ann Rose, Nebraska Sat Mar 1, 2008

I would like to know if there is some assessment going to occur on the golf course lake area of arrowhead in glendale az or are the developers bankrupt so they can not care for the property--makes one nervous when so many homes are for sale in the same area

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Arrowhead Lakes and country club are among the more stable areas in teh NW valley, Great prices and good selection.

Andrew Monaghan, CRS, GRI, CDPE.
Team Leader,
The Monaghan Group
Keller Williams Professional Partners.
http://WWW.TheMonaghanGroup.com
Andrew@TheMonaghanGroup.com

For the most complete home search tool, visit http://www.themonaghangroup.com and click on the map.
602-308-4660 Ext 203 (O) 480-302-5816 (F)
0 votes Thank Flag Link Wed Nov 18, 2009
This question is 18 months old!
0 votes Thank Flag Link Thu Oct 8, 2009
As an area specialist in Arrowhead Lakes and Arrowhead Ranch, I think there is no better time to purchase
a home. Prices are competitive. Better properties in updated remdodeled condition with the best locations offer the best value, but will be listed higher than properties that may be outdated since homes were originally built from 1986 to 1997.. But those properties that need fixing are more affordable than ever, and offer entry into an area with great upside potential. with great schools. and a great community. Arrowhead Lakes and Arrowhead Ranch is beautiful area, that is well-established Master Planned Community with convenient shopping amenities and a quick hop to Highway 101. Like every part of Phoenix, there have been foreclosures and distressed homeowners. As a buyer that is where the bargains are, but overall this area has had less of those than many other areas in Glendale and in Phoenix. The golf courses are well-maintained. I live on Legend Spring and they are now re-seeding for Winter Grass. I workout at Arrowhead Country club which offers a fitness only membership. The golf course there is private and well-maintained.
Arrowhead Lakes is the jewel of Arrowhead and the Lakes are well-maintained and just a great place to live and no better time to purchase a lakefront property....although a good lakefront property will be higher than an non-lakefront property...but certainly priced much lower than 2 years ago. I recently sold a lakefront property with a seller and I purchased a weterfront property for a buyer. Feel free to contact me. I know Arrowhead ....Patti Wells, Realty Executives....Arrowhead....623-764-4957 http://www.pattiwells.com
0 votes Thank Flag Link Thu Oct 8, 2009
Roberto,

I did a quick look at the numbers for Arrowhead Ranch and they are very different.

Current homes for sale: 45
Homes Sold in Feb 2009: 8
Current Supply: 5.6 month (Normal Market)

Ready for the market shift...

Current Pending: 15! (Depending on how many of these close we could see a "seller's market" for this subdivision within 30 days.

A zip code is too big of any area to search. It is better if you are the "local economist of choice" [Thank you Gary Keller].

I hope this helps.
Web Reference: http://www.TheKeysTeam.com
0 votes Thank Flag Link Mon Mar 2, 2009
I am seeing one year + of inventory in all zips around the area...

That translates in English to continued price drops...

Phoenix saw an absolute record of foreclosures in February, 5300, compared to 5400 actual sales. Anybody else beside me see a problem with that?

Arrowhead prices will continue to drop.
0 votes Thank Flag Link Sun Mar 1, 2009
Ann, here is another update.

Today 3-28-09 There are 136 active homes in the Arrowhead area.
This is a "high demand" area, well established.
The developers are probably not involved in the neighborhood because it is over 15 years old and the developers usually are only involved until that last NEW HOME is sold.

I PERSONALLY would not hesitate to buy in the Arrowhead area it was voted recently as the #1 community to live in (AZ Republic).

If you would like more information on the area, feel free to contact me via my website below.

Thank you.
Web Reference: http://www.TheKeysTeam.com
0 votes Thank Flag Link Sat Feb 28, 2009
From my experience Arrowhead lakes area is one of the least affected areas of homes in the valley, it is a great time to buy as you can find homes much below replacement value in a fantastic area
0 votes Thank Flag Link Sat Feb 28, 2009
Hi Ann,

Just to reiterate what my colleagues below have noted there are A LOT of homes for sale everywhere in the valley. Over 54,000 on the MLS by last count, and that does not include home builders or for sale by owner homes. So Arrowhead is not unusual nor is it one of the worst areas as far as existing inventory goes.

If you would like more information on Arrowhead or any other part of the valley please visit our website at:

http://www.ArizonaPremiereLiving.com
0 votes Thank Flag Link Tue Mar 18, 2008
There are no assessments to my knowledge.

As Donald pointed out, there are relatively few homes for sale when you look at the entire Arrowhead Ranch area, which covers several square miles. I've got significantly different numbers from the MLS than Donald (as well as from my dedicated Arrowhead Ranch homes search) ... well over 5,000 homes across all of Arrowhead Ranch's nearly two dozen subdivisions and around 200 for sale. That's still a fairly small amount compared to most areas of the Valley.

Developers left long, long ago ... Arrowhead Ranch's final build out in the mid-1990s.
0 votes Thank Flag Link Sat Mar 1, 2008
Ann,

There are 3812 homes in Arrowhead Ranch
Currently (March 1, 2008) there are 61 active homes for sale and 12 pending (under contract).
The turn over rate for Arrowhead Ranch was 1.7% in 2007

There are 850 homes in Arrowhead Lakes.
Currently there are 54 active homes and 2 pending (under contract)

The turn over rate for Arrowhead Lakes was 3.5% in 2007

The USPS (Post Office) statistics show that 1 in 8 (12.5%) of the populations moves each year.

I will check into the lake situation for you.

Currently "The Valley" (Phoenix and surrounding cities) is in a "buyer's market" (more than 6 months supply of homes on the market) and it is a great time to buy.

If you want to see all of the homes for sale in a specific area (i.e. Arrowhead) then go to:

http://www.northglendalehomes.com

Let me know if you need anything else.
0 votes Thank Flag Link Sat Mar 1, 2008
I am doing some research right now on the area for you.
Ann, what is your definition of "a lot of homes for sale in the Arrowhead area?"
20, 50, 100?
0 votes Thank Flag Link Sat Mar 1, 2008
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