Volume 1 Issue 4
April 2011 Cachet-"A mark of quality, as of distinction, individuality or authenticity"
Cachet at Grayhawk Real Estate Newsletter Presented by Wendy Kirtland, PLLC RE/MAX Fine Properties Cachet at Grayhawk Real Estate Update We had one closed sale in March which brings our total of closed sales to 4 for 2011! March has been a very active month with new listings coming on the market and getting offers very quickly. We currently have 3 active listings priced from $219,900 to $339,000. Two of these are Equity Sales and 1 is a Lender Owned Property. We have 2 listings which are Active with Contingencies (AWC) priced from $224,000 to $249,900 at an average of $159.11/ sq ft. One is a traditional sale and the other is lender owned.
We have 3 sales pending priced from $229,200 to $299,000. Closed sales have sold for an average of 97% of listed price and an average of $163.90/sq ft. Pending sales are priced at an average of $156.38 sq ft. Active sales are listed for an average of $187.76/sq ft. We can see a bit of a trend with what is selling. Cachet is very desirable and the buyers are looking for properties under $300,000. Seven of nine properties are under this number.
“GO GREEN” Drawing Winner Congratulations to our “GO GREEN” winner Alan Steffe. He is receiving the Gift Card from O’Donoghue’s Pub & Grille. St. Patrick’s Day may be over, but we still want to “GO GREEN.” Please send an email to WKirtland@FineProp.com with “GO GREEN” as the subject and you will be registered to win a $25.00 Gift Card to “Jasper’s Peak,” a neighborhood favorite. We do not share your email address. We just want to save a little “GREEN” on printing and mailing. Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
Wendy is a full-time REALTOR who works diligently to serve her clients’ best interest. Whether listing or selling your home for your highest advantage or finding the perfect home to suit your needs, she is tireless in her efforts. Wendy holds the designations of Graduate of Realtor Institute (GRI), Accredited Buyer’s Representative (ABR), Certified Distressed Property Expert (CDPE), Certified Investor Agent Specialist (CIAS), Short Sale and Foreclosure Resource (SFR), and Certified Negotiation Expert (CNE). Wendy is a Cachet at Grayhawk Resident.
www. WendyKirtland.com
Investment Opportunities in Today’s Market, Part II of a II Part Series
What type of investor are you? First –Time Investor: The first-time investor has never purchased real estate as an investment, but may have purchased a home to live in. Almost anyone with any type of savings or IRA can become a first-time investor. Move-Up Investor: The move-up investor either owns a home outright or owns a home with payments low enough to support becoming a rental property that cash flows at market rent. Rather than sell the home currently owned, a move-up investor can rent the home, have a tenant pay for equity and cash flow, and then purchase another property. This is a viable strategy that many homeowners never consider, but can be an incredible wealth building opportunity. Portfolio Investor: The portfolio investor typically purchases property every one to three years. The portfolio investor understands the benefits of real estate and real estate is part of their financial plans. Performance Investor: The performance investor purchases at least one property to hold each year. These are typically high net-worth individuals who understand the value of large cash-flow real estate portfolios. They are highly experienced with refined investment goals. Rehab and Resell: The rehabilitation and resell investor purchases property for rapid improvements and quick, but profitable sale. These investors are often called “flippers” or “fix and flip” investors. These investors purchase a property every six months or less. They typically are not interested in buying and holding like the four other types of investors. No matter what investment type you are I can assist you with your first investment purchase or your tenth. I am always searching for and identifying properties that will cash flow for all types of investors. We can put together a plan with your financial goals in mind. Wendy is a Certified Investor Agent Specialist (CIAS) working with clients to reach their real estate investment goals. Call me today 480.215.0959.
Reflecting on the Market from the Calm to the Waves As we reflect back on the first two months of 2011, it’s interesting to note the trading activity in our portfolios as it relates to the market movement over that time frame. During the month of January, the S&P 500 traded up from 1271 to 1307 for a gain of+2.8%. At the time we distributed our February newsletter, the S&P 500 was flat for the month closing at the 1307 level.* During the month of February, there were no major trends developing that were significant enough to trigger any noteworthy trading activity. This was evidenced by the VIX, or the CBOE Volatility Index trading below the 18.0 level for the majority of the month. As we’re preparing this month’s newsletter, we’re seeing the market environment change dramatically. Thus far for the month of March, we’ve seen the S&P 500 trade down from the 1306 level to the 1268 range equating to a -2.9% drop. Concurrently, the VIX has recently spiked to the 26-28 range representing a 50% increase in volatility we’re experiencing. Much of this renewed volatility is being driven by the problems throughout the Middle East and North Africa, the increase in oil and food prices and most recently the crisis in Japan. Consequently, this may have an impact on how we position our portfolios in the short to intermediate term. As Risk Managers, we will continue to observe the events that are unfolding, the impact they may have on the markets, and the influence they may have on our portfolios. As we’ve said in the past, our process considers cash an asset class in the same manner as equities or bonds. Should the market environment dictate a more defensive posture for our portfolios, rest assured we will react, follow our process and adjust accordingly. Please feel free to call us should you have any questions. The Owners of Pogson & Matt Wealth Management Group *as of February 23, 2011 Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Homeowner Tips of the Month Check Your AC today! To help ensure your home stays cool all summer, it’s a good idea to perform a system check today. It’s easy to do. Simply turn on your air conditioner and let it run for 30 minutes. If you notice any issues or problems, contact American Home Shield, your Home Warranty Company or Air Conditioning Technician and request a service call for your air conditioner. Always be sure to change your air filters every 30-90 days based on filter recommendations. Each year, check your system’s performance one month before the cooling season begins. Keep the condensing unit free of debris and trim back all shrubs and plants.
Streak-Free Windows Use these easy-to-follow tips to get streak-free windows all around!
Don’t clean your windows on a bright sunny day. Direct light causes the cleaning solution to dry before you can wipe it away. For best results, save window cleaning for a cloudy day. Clean, cool water is actually the best cleaning solution for windows, but for tough jobs, try adding 2 to 3 tablespoons of vinegar per gallon. Use horizontal strokes on the inside and vertical on the outside – or vice versa. This just makes it easier to see which side the streaks are on if you notice any at all. For best results, use crumpled newspaper for streak-free drying results. Homeowner Tips from American Home Shield Home Warranty Company
Wendy Kirtland, PLLC RE/MAX Fine Properties 21000 North Pima Road, Suite 100 Scottsdale, Arizona 85255
Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com