Sdefeo, Home Owner in Scottsdale, AZ

what percentage rates are property values increasing now?

Asked by Sdefeo, Scottsdale, AZ Tue May 8, 2012

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5
Understand the selling houses is different than selling cars or refrigerators;
each house is qunique and can be sold only once.
If a particular house appreciates 5% in the last year, (based on Comps), then it will contribute to the Comps the next time someone searches. But that house is gone.
So the housing market is dynamic, uniquely dynamic.
This would equate to the boy who drowns in a lake that averaged 6" deep.

The best you can hope for, and the statistic that you are looking for, is a particular house in a particular neighborhood.
Think; location, location.....
0 votes Thank Flag Link Wed May 9, 2012
As the other answers indicated, it depends on the area. If you identify a neighborhood or area, I can show you the statistics. If you are looking to sell your home, this would be a great time and it will continue to be a strong market for a while. If you are looking to buy a home, it will be more challenging than a year ago, but you can still get a very nice home a a good price.
0 votes Thank Flag Link Wed May 9, 2012
According to the Arizona State University - Business School - Cromford Report..... median sales prices in Maricopa County increased at the rate of 5% per month in the first Quarter of 2012. This does depend, to some extent, on the price range and area / location in the valley.

Drop me an email for a free copy of the above report / chart customized to your specific price range and zip code.

Robert Kroon
Realty Executives
602-390-0861
RobertKroon@RealtyExecutives.com
0 votes Thank Flag Link Tue May 8, 2012
I read a report last week saying that prices were up 20 or 25 % from last year. This does depend upon price range and location. Some areas and price points are doing better than others. But with the low inventory it is causing many homes to sell more than asking which is driving up the price as many of the offers are cash and once they close (no appraisal to hold down the value as in a financed offers) they then become new comps to help justify other homes selling for higher when an appraisal is done.

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
Ron 602-499-0694
http://www.CunninghamHomesAZ.com

* Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley"

Feel Free to use the Free Official Active MLS IDX link to search for homes like we do at our website:
http://www.CunninghamHomesAZ.com
0 votes Thank Flag Link Tue May 8, 2012
That is a broad question that can be better answered with local focus. The answer is...it depends...on area, price point and demand. A cash buyer may pay 15% or more above value vs a financed buyer who will pay market value so the average of that plays a role. Phoenix is in high demand now and we are even seeing the REO bank owned homes come on to market 25% higher than recommended listing price. It is all about what a buyer is willing to pay as well.
0 votes Thank Flag Link Tue May 8, 2012
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