Paula Young With over 30 years in the real estate industry, I have had the opportunity to sharpen my skills and knowledge, and offer a combination of expertise and experience that is so critical to achieve the results we all want. For your success is my success. Many of my years in the industry have been spent in the Seattle area. I started as a realtor and broker then decided I wanted to learn more about the financing of real estate and worked in the mortgage lending industry for several years and achieved a position of branch manager of one of U.S. Banks largest mortgage divisions. I moved to the beautiful Phoenix area nearly a decade ago planning to retire from a wonderful career but that was short lived. I love real estate and being of service gives me great satisfaction. As Arizona is a highly desirable destination, I have had the opportunity to work with many fellow Washingtonians to find the community and home that fit their lifestyle. It would be an honor to help you find the home of your dreams, or a second home or perhaps just a great investment. I believe that one of the best tools I can offer my clients is information. Metro Phoenix Economic Snapshot 2010 has been developed to familiarize you with the Phoenix marketplace and the many opportunities that now exist in real estate. The Phoenix/Scottsdale area will continue to be in demand for decades to come. Let me help you make one of the smartest and successful purchases, perhaps, in your lifetime! Give me a call today!
M E T R O
P H O E N I X
2009 Average Sales Price By City CITY SINGLE-FAMILY CONDOS & RESIDENCES ONLY PATIO HOMES ONLY Phoenix............................................ $127,979...............................$98,422 Glendale......................................... $129,479...............................$49,872 Mesa................................................ $159,018...............................$93,710 Peoria.............................................. $189,403.............................$108,231 Litchfield Park.................................. $208,402.............................$109,237 Tempe.............................................. $222,263.............................$142,198 Gilbert.............................................. $222,539.............................$117,492 Chandler......................................... $231,523.............................$111,434 Cave Creek.................................... $360,759.............................$219,741 Fountain Hills................................... $483,854.............................$215,962 Scottsdale....................................... $541,747.............................$222,626 Carefree.......................................... $772,884.............................$289,971 Paradise Valley............................ $1,717,489.............................$208,699 Statistics gathered from ARMLS. All information is deemed reliable but not guaranteed.
Testimonials “Paula is a quality, caring person and will give you excellent service when buying or selling real estate. She will find what you want whether it be a home or investment property. Her motto is to give the highest level of customer satisfaction, and she certainly delivers.” — Marlene and Alan Lomax, Bellevue “Paula Young is the agent you want to be working for you in selling or buying your home. Being an agent in the Seattle area myself, I have referred many buyers to her. She does a great job of listening to her buyer’s needs and takes the time to help them get what they really want. Personally I hired her to list my second home in the Phoenix area and had it sold in an amazing amount of time.” — Dawn Sullivan, John L. Scott Real Estate
The Metro Phoenix Housing Market Encouraging Facts & Figures
Economic Alphabet Soup
What Will Be The Shape Of Our Recovery?
“I have dealt with Paula on several transactions in the Phoenix area. She has always been very professional and provided superior service and knowledge. I would highly recommend her to anyone looking to purchase in the Phoenix area.” — Michael and Cyndee Bassie, Kirkland “I am happy to recommend Paula Young to anyone who is seeking to purchase real estate. Paula helped me find the perfect home. She proved to be highly professional and very organized. Paula continued to be extremely helpful throughout the negotiations and the entire closing process. In addition to being extremely knowledgeable, she demonstrated great attention to all the details to ensure that the sale and closing proceeded smoothly. She is bright, energetic and made the real estate search very enjoyable. I heartily recommend her without reservation.” — Keith VanVelkinburgh, Christy Sports LLC
Paula Young
ReMax Sun Properties Direct: 602.478.6546 Fax: 480.816.1022 youngpaula@aol.com www.paulayoungproperties.com All agent referrals will be honored. If your home is currently listed, this is not a solicitation for that listing.
“When I first came to Arizona, I took it upon myself to search the valley to find a home. After a week of diligent searching I found myself making an offer on a townhouse in Fountain Hills that Paula told me about during our initial conversation. Not only is she an expert in knowing her demographical area but, the needs and desires that will best fit your home expectations as well.” — Gregg Anderson, Absolute Mortgage “Thanks to Paula’s bulldog attitude we now have our dream retirement home. She listened to our likes and observed our lifestyle. Putting the two together, she walked us into our wonderful home. She has a real talent for finding the right home or investment for her clientele.” — Mike and Bea Cannon “Paula Young has the integrity and commitment to get the job done. Coming from out of state to purchase my retirement home was stressful. Paula was available the entire time, and definitely went beyond her duty seeing the task through. Paula had my best interest at heart and new excellent resources to accomplish any concerns. I value Paula as a committed realtor and have recommend her to my family and friends.” — Linda Gray, Seattle
Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Eight National Economic Forecasts
R E S I D E N T I A L R E A L E S TAT E What has 2010 brought us in the Greater Phoenix local housing market? Good news! While unemployment and distressed properties may still plague our area, the residential housing market has been picking up steam and is going strong!
G E N E R A L E C O N O M I C S N A P S H OT The last couple of years have been a rough ride for many Americans. Caught in the throes of a debilitating recession, households across the nation have been struggling with job losses, lower incomes and for many, the loss of their family home to foreclosure. 2010 brings not only a new year, but a new decade. It’s a welcome harbinger of change in which many Americans rest their hopes for a fresh start and a better economic environment. Indeed, the economy appears to be improving. WELCOME SIGNS OF A RECOVERY Most measures of economic activity have moved upward. Pending home sales saw year-over-year gains in every region of the US. Gross domestic product has turned positive after four quarters of decline. Consumer spending is rising. Industrial production and manufacturing activity are posting gains. Construction expenditure is finally increasing. The labor market shows signs of stabilization and the stock market has made significant strides over the past several months. Housing Sales of existing homes have shown encouraging growth throughout most of 2009 and into 2010. Low interest rates coupled with high affordability have aided the surge in home buying. The government’s First-Time Home Buyer Tax Credit has played a large role in the housing market’s success. Near the end of 2009, the up to $8,000 tax credit for first-time buyers was extended into 2010 and an up to $6,500 provision for move-up buyers was added. Home buyers have jumped at the opportunity and some political insiders suggest that the Obama administration will extend the tax credits once again in mid-2010. Labor Market The economy has lost 7.3 million jobs since the recession began in December 2007. With an unemployment rate over 10%, there is no doubt that the end of the recession hinges upon this critical indicator. While unemployment figures aren’t expected to decrease dramatically, the number of jobs lost and planned layoffs have begun to stabilize. Steven Wood, chief economist at Insight Economics said, “The magnitude of job losses has progressively diminished over the past eight months. If this trend were to continue, the job losses would end sometime early in 2010.”
Stock Market Since the crash and panic of late 2008 and early 2009, the stock market has shown encouraging growth. While the Dow Jones gained an impressive 20% in 2009 (the best annual gain since 2003), the bigger news is the 60% increase since its March 2009 bear-market low. Americans have breathed a collective sigh of relief as retirement funds and investment portfolios have recovered some of those severe losses. REASONS FOR CAUTION While we’re seeing healthy signs of life in our economy, there are still many factors at play that bear caution. At the heart of it all lies employment. While the amount of job losses has slowed, we still cannot expect to have a “normal” economy when so many Americans are out of work. While the residential housing market has shown vast improvements, the commercial sector is experiencing continued trouble. Vacancies are well above historical averages, demand for commercial properties is down, credit conditions are tight and the amount of distressed properties continues to grow. The low mortgage interest rates we’ve seen may soon come to an end. Rates have been held down due to the purchase of mortgage-backed securities by the Federal Reserve. But the scheduled end of the Fed’s intervention in early 2010 will likely push rates up closer to 6% by the end of the year. Given that the projected level of 6% is still an extremely attractive rate, it doesn’t appear that potential home buyers will be dissuaded in making a property purchase. A “shadow inventory” of homes on the verge of foreclosure has some economists worried that our housing market may lose many of the gains it’s seen in recent months. According to First American CoreLogic, a real estate research firm, approximately 1.7 million homes are currently distressed and could hold down real estate values for the next several years. The good news is that many homeowners are now avoiding foreclosure through loan modifications and short sales. Further, First American CoreLogic estimates that nearly 30% of those 1.7 million distressed homes are actually already on the market. So while it appears that there are several factors that could impede a complete economic recovery in 2010, the fact is that the US is in a better position today than in 2008 or 2009. We’ll take it!
National Economic Forecasts
A BANNER YEAR FOR SALES 2009 turned out to be the third best year on record for overall sales. Approximately 93,000 properties closed escrow. That degree of volume only lags behind our “boom years” of 2004 and 2005. It was a huge increase over 2008 – about 55% higher than the 60,000+ properties that sold that year. Inventory levels have dropped significantly over the last year. At the end of 2009, the overall supply of homes was about 3.5 months, compared to 8.75 months at the end of 2008. The overwhelming majority of those sales have been in the lower price points, namely $400,000 and under where there are multiple offers, bidding wars and final sales prices often coming in higher than list price. (See chart: Sales by Price Range.) HOME VALUES STABILIZING The increase in sales volume has created a
Single-Family Homes | Metro Phoenix
ENERGY Crude averaging $75 a barrel in ‘10
RETAIL SALES A tepid 3% increase in ‘10 Source: kiplingerbiz.com
A BUYER’S PARADISE The current combination of affordable prices, low mortgage rates and the government home-buyer
2009 Maricopa County
Median Sales Price Number of Sales January...................................$130,000................................4,234 February..................................$127,780................................4,848 March......................................$120,000................................6,832 April........................................$117,500................................7,604 Under $400K • 93.7% May.........................................$121,500................................8,172 $400K - $1M • 5.3% $1M - $2M • .7% June........................................$130,000................................8,178 July.........................................$130,000................................7,887 $2M+ • .2% August....................................$130,000................................6,943 September..............................$135,527................................6,790 October...................................$134,900................................6,936 November...............................$136,000................................6,439 December...............................$134,900................................5,971
INTEREST RATES Prime at 3.25% to mid-’10 10-Year T-notes rising to 4%
UNEMPLOYMENT Peaking around 10.5% in early ‘10 Net yearly gain of 1 million jobs in ‘10
THE LUXURY MARKET While the overall housing market is recovering nicely, the luxury market is lagging. One of the biggest impediments to recovery is the lack of jumbo loan financing. Banks have been very limited in loan offerings at this price range and it’s continuing to affect price stability. It’s estimated that the luxury housing market will still see some price declines in early 2010 with a possible stabilization my mid-year. Already the environment is healthier. The Scottsdale $1M+ market now shows about a 24-month supply, down from a 60-month supply at the beginning of 2009. Paradise Valley has improved from a 28-month supply to just under a 13-month supply in that same time frame.
2009 SALES STATISTICS
TRADE DEFICIT Expanding to $530 billion in ‘10
HOUSING SALES 2009 was the bottom of the market
DISTRESSED PROPERTIES Homes fallen to foreclosure and pre-foreclosure short sales have been a sizeable portion of our local housing landscape. While these lender-owned and distressed sales have dragged down home values, the good news is that they are being snatched up by a hungry home-buying public. In fact, lender-owned homes made up the majority of sales in 2009. (See charts: Sales by Property Type.) By year end, short
sales had increased 2.5 times from year end 2008 and because banks are making the short sale process even easier, we can expect to see many more successful short sales in 2010. That bodes well on home values as the price per square foot for foreclosure sales tend to be lower than for a short sale.
SALES BY PRICE RANGE
GDP About 3% growth in ‘10
INFLATION About 2% in ‘10 after 2.5% in ‘09
stabilization and improvement in pricing. Home values hit a bottom-low in April of 2009 but have rallied strongly with a year-end 14.8% increase. (See chart: 2009 Sales Statistics.) According to The Cromford Report, a local real estate research firm, lender-owned sales hit their price bottom in late April 2009 and have been rising since; non-distressed “normal” sales hit their price bottom in mid-November 2009; and short sale prices are expected to have hit bottom in late 2009 or early 2010. Annual appreciation has risen to -6% from a record low of -44.5% in April 2009. The Cromford Report estimates that if pricing stays at its current level or better, the annual appreciation will turn positive in the first quarter of 2010.
Under $400K • 93.7% $400K - $1M • 5.3% $1M - $2M • .7% $2M+ • .2%
Source: ARMLS. Information is deemed reliable but not guaranteed. Data maintained by ARMLS may not reflect all real estate activity in the market.
Source: ARMLS. Information is deemed reliable but not guaranteed. Data maintained by ARMLS may not reflect all real estate activity in the market.
2009
SALES BY PROPERTY TYPE Single-Family 2009 Homes _______ Metro Phoenix
2008
2008
2007
2007
“Normal” Non-Distressed • 28%
“Normal” Non-Distressed • 51%
“Normal” Non-Distressed • 95%
Short Sales • 15%
Short Sales • 6%
Short Sales • 4%
Lender-Owned • 57%
Lender-Owned • 43%
Lender-Owned • 1%
Source: The Cromford Report. All residential single-family dwelling types recognized by ARMLS are included. For-sale-by-owner, auctions and other non-MLS transactions are not included. Land, commercial units and multiple dwelling units are also excluded.
“Normal” Non-Distressed • 28%
“Normal” Non-Distressed • 51%
“Normal” Non-Distressed • 95%
tax credits has created an exceptionally attractive environment for buyers. Fannie Mae’s 2010 forecast suggests that sales of existing homes should jump by another 10% with sales of new homes increasing by 26%. Dr. Lawrence Yun, chief economist for the National Association of Realtors says that sometime in the first half of 2010, the housing market should reach a “self-sustaining” point where prices are moving up moderately, and that buyer demand will remain strong. According to a Barclays global survey, investors are planning to put more into real estate than what they plan to invest in stocks and bonds. Twice as many people with at least $800,000 to invest plan to increase their purchasing of real estate than those that plan to reduce it. Barclays’ survey predicts that real estate investment will rise to an average of 30% of these investors’ portfolios. And why not? Investors are seeing better rates of return on purchases in 2009 and 2010 than any year since prior to 2000. Further, real estate has outperformed the DOW, S&P 500 and NASDAQ since 1990, even after the price adjustments we’ve experienced. Bottom line? Buy now!
RECOVERY BY THE LETTER The worst of The Great Recession appears to be behind us. The question now is what type of recovery can we expect? Often, economic recoveries mimic the shape of letters. Here are four possible scenarios we may see:
U: The U-shape illustrates a bottoming out and a recovery that bumps along the floor for a while before the economy starts its upward climb again: A slow but steady recovery. V: Here we see the lowest point followed by an immediate, robust recovery. Perhaps already unlikely given the indicators showing continuing economic troubles. W: The W-shape would show a sharp decline followed by an immediate, strong recovery only to have the economy falter once again before finally normalizing. Many fear this “double-dip” recession scenario should there be a stock-market crash or a terrorist event. L: This shape shows a flat economy after the bottoming out, never really recovering to the previous levels.
R E S I D E N T I A L R E A L E S TAT E What has 2010 brought us in the Greater Phoenix local housing market? Good news! While unemployment and distressed properties may still plague our area, the residential housing market has been picking up steam and is going strong!
G E N E R A L E C O N O M I C S N A P S H OT The last couple of years have been a rough ride for many Americans. Caught in the throes of a debilitating recession, households across the nation have been struggling with job losses, lower incomes and for many, the loss of their family home to foreclosure. 2010 brings not only a new year, but a new decade. It’s a welcome harbinger of change in which many Americans rest their hopes for a fresh start and a better economic environment. Indeed, the economy appears to be improving. WELCOME SIGNS OF A RECOVERY Most measures of economic activity have moved upward. Pending home sales saw year-over-year gains in every region of the US. Gross domestic product has turned positive after four quarters of decline. Consumer spending is rising. Industrial production and manufacturing activity are posting gains. Construction expenditure is finally increasing. The labor market shows signs of stabilization and the stock market has made significant strides over the past several months. Housing Sales of existing homes have shown encouraging growth throughout most of 2009 and into 2010. Low interest rates coupled with high affordability have aided the surge in home buying. The government’s First-Time Home Buyer Tax Credit has played a large role in the housing market’s success. Near the end of 2009, the up to $8,000 tax credit for first-time buyers was extended into 2010 and an up to $6,500 provision for move-up buyers was added. Home buyers have jumped at the opportunity and some political insiders suggest that the Obama administration will extend the tax credits once again in mid-2010. Labor Market The economy has lost 7.3 million jobs since the recession began in December 2007. With an unemployment rate over 10%, there is no doubt that the end of the recession hinges upon this critical indicator. While unemployment figures aren’t expected to decrease dramatically, the number of jobs lost and planned layoffs have begun to stabilize. Steven Wood, chief economist at Insight Economics said, “The magnitude of job losses has progressively diminished over the past eight months. If this trend were to continue, the job losses would end sometime early in 2010.”
Stock Market Since the crash and panic of late 2008 and early 2009, the stock market has shown encouraging growth. While the Dow Jones gained an impressive 20% in 2009 (the best annual gain since 2003), the bigger news is the 60% increase since its March 2009 bear-market low. Americans have breathed a collective sigh of relief as retirement funds and investment portfolios have recovered some of those severe losses. REASONS FOR CAUTION While we’re seeing healthy signs of life in our economy, there are still many factors at play that bear caution. At the heart of it all lies employment. While the amount of job losses has slowed, we still cannot expect to have a “normal” economy when so many Americans are out of work. While the residential housing market has shown vast improvements, the commercial sector is experiencing continued trouble. Vacancies are well above historical averages, demand for commercial properties is down, credit conditions are tight and the amount of distressed properties continues to grow. The low mortgage interest rates we’ve seen may soon come to an end. Rates have been held down due to the purchase of mortgage-backed securities by the Federal Reserve. But the scheduled end of the Fed’s intervention in early 2010 will likely push rates up closer to 6% by the end of the year. Given that the projected level of 6% is still an extremely attractive rate, it doesn’t appear that potential home buyers will be dissuaded in making a property purchase. A “shadow inventory” of homes on the verge of foreclosure has some economists worried that our housing market may lose many of the gains it’s seen in recent months. According to First American CoreLogic, a real estate research firm, approximately 1.7 million homes are currently distressed and could hold down real estate values for the next several years. The good news is that many homeowners are now avoiding foreclosure through loan modifications and short sales. Further, First American CoreLogic estimates that nearly 30% of those 1.7 million distressed homes are actually already on the market. So while it appears that there are several factors that could impede a complete economic recovery in 2010, the fact is that the US is in a better position today than in 2008 or 2009. We’ll take it!
National Economic Forecasts
A BANNER YEAR FOR SALES 2009 turned out to be the third best year on record for overall sales. Approximately 93,000 properties closed escrow. That degree of volume only lags behind our “boom years” of 2004 and 2005. It was a huge increase over 2008 – about 55% higher than the 60,000+ properties that sold that year. Inventory levels have dropped significantly over the last year. At the end of 2009, the overall supply of homes was about 3.5 months, compared to 8.75 months at the end of 2008. The overwhelming majority of those sales have been in the lower price points, namely $400,000 and under where there are multiple offers, bidding wars and final sales prices often coming in higher than list price. (See chart: Sales by Price Range.) HOME VALUES STABILIZING The increase in sales volume has created a
Single-Family Homes | Metro Phoenix
ENERGY Crude averaging $75 a barrel in ‘10
RETAIL SALES A tepid 3% increase in ‘10 Source: kiplingerbiz.com
A BUYER’S PARADISE The current combination of affordable prices, low mortgage rates and the government home-buyer
2009 Maricopa County
Median Sales Price Number of Sales January...................................$130,000................................4,234 February..................................$127,780................................4,848 March......................................$120,000................................6,832 April........................................$117,500................................7,604 Under $400K • 93.7% May.........................................$121,500................................8,172 $400K - $1M • 5.3% $1M - $2M • .7% June........................................$130,000................................8,178 July.........................................$130,000................................7,887 $2M+ • .2% August....................................$130,000................................6,943 September..............................$135,527................................6,790 October...................................$134,900................................6,936 November...............................$136,000................................6,439 December...............................$134,900................................5,971
INTEREST RATES Prime at 3.25% to mid-’10 10-Year T-notes rising to 4%
UNEMPLOYMENT Peaking around 10.5% in early ‘10 Net yearly gain of 1 million jobs in ‘10
THE LUXURY MARKET While the overall housing market is recovering nicely, the luxury market is lagging. One of the biggest impediments to recovery is the lack of jumbo loan financing. Banks have been very limited in loan offerings at this price range and it’s continuing to affect price stability. It’s estimated that the luxury housing market will still see some price declines in early 2010 with a possible stabilization my mid-year. Already the environment is healthier. The Scottsdale $1M+ market now shows about a 24-month supply, down from a 60-month supply at the beginning of 2009. Paradise Valley has improved from a 28-month supply to just under a 13-month supply in that same time frame.
2009 SALES STATISTICS
TRADE DEFICIT Expanding to $530 billion in ‘10
HOUSING SALES 2009 was the bottom of the market
DISTRESSED PROPERTIES Homes fallen to foreclosure and pre-foreclosure short sales have been a sizeable portion of our local housing landscape. While these lender-owned and distressed sales have dragged down home values, the good news is that they are being snatched up by a hungry home-buying public. In fact, lender-owned homes made up the majority of sales in 2009. (See charts: Sales by Property Type.) By year end, short
sales had increased 2.5 times from year end 2008 and because banks are making the short sale process even easier, we can expect to see many more successful short sales in 2010. That bodes well on home values as the price per square foot for foreclosure sales tend to be lower than for a short sale.
SALES BY PRICE RANGE
GDP About 3% growth in ‘10
INFLATION About 2% in ‘10 after 2.5% in ‘09
stabilization and improvement in pricing. Home values hit a bottom-low in April of 2009 but have rallied strongly with a year-end 14.8% increase. (See chart: 2009 Sales Statistics.) According to The Cromford Report, a local real estate research firm, lender-owned sales hit their price bottom in late April 2009 and have been rising since; non-distressed “normal” sales hit their price bottom in mid-November 2009; and short sale prices are expected to have hit bottom in late 2009 or early 2010. Annual appreciation has risen to -6% from a record low of -44.5% in April 2009. The Cromford Report estimates that if pricing stays at its current level or better, the annual appreciation will turn positive in the first quarter of 2010.
Under $400K • 93.7% $400K - $1M • 5.3% $1M - $2M • .7% $2M+ • .2%
Source: ARMLS. Information is deemed reliable but not guaranteed. Data maintained by ARMLS may not reflect all real estate activity in the market.
Source: ARMLS. Information is deemed reliable but not guaranteed. Data maintained by ARMLS may not reflect all real estate activity in the market.
2009
SALES BY PROPERTY TYPE Single-Family 2009 Homes _______ Metro Phoenix
2008
2008
2007
2007
“Normal” Non-Distressed • 28%
“Normal” Non-Distressed • 51%
“Normal” Non-Distressed • 95%
Short Sales • 15%
Short Sales • 6%
Short Sales • 4%
Lender-Owned • 57%
Lender-Owned • 43%
Lender-Owned • 1%
Source: The Cromford Report. All residential single-family dwelling types recognized by ARMLS are included. For-sale-by-owner, auctions and other non-MLS transactions are not included. Land, commercial units and multiple dwelling units are also excluded.
“Normal” Non-Distressed • 28%
“Normal” Non-Distressed • 51%
“Normal” Non-Distressed • 95%
tax credits has created an exceptionally attractive environment for buyers. Fannie Mae’s 2010 forecast suggests that sales of existing homes should jump by another 10% with sales of new homes increasing by 26%. Dr. Lawrence Yun, chief economist for the National Association of Realtors says that sometime in the first half of 2010, the housing market should reach a “self-sustaining” point where prices are moving up moderately, and that buyer demand will remain strong. According to a Barclays global survey, investors are planning to put more into real estate than what they plan to invest in stocks and bonds. Twice as many people with at least $800,000 to invest plan to increase their purchasing of real estate than those that plan to reduce it. Barclays’ survey predicts that real estate investment will rise to an average of 30% of these investors’ portfolios. And why not? Investors are seeing better rates of return on purchases in 2009 and 2010 than any year since prior to 2000. Further, real estate has outperformed the DOW, S&P 500 and NASDAQ since 1990, even after the price adjustments we’ve experienced. Bottom line? Buy now!
RECOVERY BY THE LETTER The worst of The Great Recession appears to be behind us. The question now is what type of recovery can we expect? Often, economic recoveries mimic the shape of letters. Here are four possible scenarios we may see:
U: The U-shape illustrates a bottoming out and a recovery that bumps along the floor for a while before the economy starts its upward climb again: A slow but steady recovery. V: Here we see the lowest point followed by an immediate, robust recovery. Perhaps already unlikely given the indicators showing continuing economic troubles. W: The W-shape would show a sharp decline followed by an immediate, strong recovery only to have the economy falter once again before finally normalizing. Many fear this “double-dip” recession scenario should there be a stock-market crash or a terrorist event. L: This shape shows a flat economy after the bottoming out, never really recovering to the previous levels.
Paula Young With over 30 years in the real estate industry, I have had the opportunity to sharpen my skills and knowledge, and offer a combination of expertise and experience that is so critical to achieve the results we all want. For your success is my success. Many of my years in the industry have been spent in the Seattle area. I started as a realtor and broker then decided I wanted to learn more about the financing of real estate and worked in the mortgage lending industry for several years and achieved a position of branch manager of one of U.S. Banks largest mortgage divisions. I moved to the beautiful Phoenix area nearly a decade ago planning to retire from a wonderful career but that was short lived. I love real estate and being of service gives me great satisfaction. As Arizona is a highly desirable destination, I have had the opportunity to work with many fellow Washingtonians to find the community and home that fit their lifestyle. It would be an honor to help you find the home of your dreams, or a second home or perhaps just a great investment. I believe that one of the best tools I can offer my clients is information. Metro Phoenix Economic Snapshot 2010 has been developed to familiarize you with the Phoenix marketplace and the many opportunities that now exist in real estate. The Phoenix/Scottsdale area will continue to be in demand for decades to come. Let me help you make one of the smartest and successful purchases, perhaps, in your lifetime! Give me a call today!
M E T R O
P H O E N I X
2009 Average Sales Price By City CITY SINGLE-FAMILY CONDOS & RESIDENCES ONLY PATIO HOMES ONLY Phoenix............................................ $127,979...............................$98,422 Glendale......................................... $129,479...............................$49,872 Mesa................................................ $159,018...............................$93,710 Peoria.............................................. $189,403.............................$108,231 Litchfield Park.................................. $208,402.............................$109,237 Tempe.............................................. $222,263.............................$142,198 Gilbert.............................................. $222,539.............................$117,492 Chandler......................................... $231,523.............................$111,434 Cave Creek.................................... $360,759.............................$219,741 Fountain Hills................................... $483,854.............................$215,962 Scottsdale....................................... $541,747.............................$222,626 Carefree.......................................... $772,884.............................$289,971 Paradise Valley............................ $1,717,489.............................$208,699 Statistics gathered from ARMLS. All information is deemed reliable but not guaranteed.
Testimonials “Paula is a quality, caring person and will give you excellent service when buying or selling real estate. She will find what you want whether it be a home or investment property. Her motto is to give the highest level of customer satisfaction, and she certainly delivers.” — Marlene and Alan Lomax, Bellevue “Paula Young is the agent you want to be working for you in selling or buying your home. Being an agent in the Seattle area myself, I have referred many buyers to her. She does a great job of listening to her buyer’s needs and takes the time to help them get what they really want. Personally I hired her to list my second home in the Phoenix area and had it sold in an amazing amount of time.” — Dawn Sullivan, John L. Scott Real Estate
The Metro Phoenix Housing Market Encouraging Facts & Figures
Economic Alphabet Soup
What Will Be The Shape Of Our Recovery?
“I have dealt with Paula on several transactions in the Phoenix area. She has always been very professional and provided superior service and knowledge. I would highly recommend her to anyone looking to purchase in the Phoenix area.” — Michael and Cyndee Bassie, Kirkland “I am happy to recommend Paula Young to anyone who is seeking to purchase real estate. Paula helped me find the perfect home. She proved to be highly professional and very organized. Paula continued to be extremely helpful throughout the negotiations and the entire closing process. In addition to being extremely knowledgeable, she demonstrated great attention to all the details to ensure that the sale and closing proceeded smoothly. She is bright, energetic and made the real estate search very enjoyable. I heartily recommend her without reservation.” — Keith VanVelkinburgh, Christy Sports LLC
Paula Young
ReMax Sun Properties Direct: 602.478.6546 Fax: 480.816.1022 youngpaula@aol.com www.paulayoungproperties.com All agent referrals will be honored. If your home is currently listed, this is not a solicitation for that listing.
“When I first came to Arizona, I took it upon myself to search the valley to find a home. After a week of diligent searching I found myself making an offer on a townhouse in Fountain Hills that Paula told me about during our initial conversation. Not only is she an expert in knowing her demographical area but, the needs and desires that will best fit your home expectations as well.” — Gregg Anderson, Absolute Mortgage “Thanks to Paula’s bulldog attitude we now have our dream retirement home. She listened to our likes and observed our lifestyle. Putting the two together, she walked us into our wonderful home. She has a real talent for finding the right home or investment for her clientele.” — Mike and Bea Cannon “Paula Young has the integrity and commitment to get the job done. Coming from out of state to purchase my retirement home was stressful. Paula was available the entire time, and definitely went beyond her duty seeing the task through. Paula had my best interest at heart and new excellent resources to accomplish any concerns. I value Paula as a committed realtor and have recommend her to my family and friends.” — Linda Gray, Seattle
Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Eight National Economic Forecasts