Volume 1 Issue 6
June 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 Summer is here and our seasonal residents have gone back to their home towns. This is the first month we didn’t have any closed sales. All in all it has still be a great year for Real Estate in our neighborhood. We have had 7 closed sales so far this year in comparison to 9 closed sales in 2010. We should easily surpass last year’s numbers. We currently have one lender-owned pending sale at $255,900 which is $147.49 /sq. ft. We still have 4 active listings priced from $209,900 to $350,000. Two are traditional sales and 2 are lender owned
properties. These prices translate to $$155.25 /sq. ft. to $196.41/sq. ft. We do have our first townhome listed in many months which should get some attention. Please see the back page of the newsletter for photos and more information on this lovely townhome. I follow our market very closely and receive updates of new listings, price changes, pending and closed sales. If you would like to receive more information on Cachet at Grayhawk please feel free to contact me at 480-215-0959. I am always happy to share information with my neighbors.
“GO GREEN” Congratulations to Frank and Rose Barre the winners of our Jasper’s Peak $25 gift card. Thank you to all of you who have signed up to receive our newsletter via email. We appreciate you helping us to save “Green.” 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
Monthly Market Review-May, 2011 Active listing counts continue to drop sharply while sales rates are strong and pending sales remain numerous. With the significant improvement in the overall market dynamics we see little chance of significant reductions in price over the near term. Foreclosure supply is dropping and prices are edging up! Notices of foreclosure for May are about the same as in April, but April had the lowest total for any month since 2007. Trustee sales volume in May was expected to be lower than the 4 previous months. Based on these 2 factors, the inventory of pending foreclosures is falling very fast. Competition among buyers is already intense for lender owned properties and at the trustee sales and we expect to see this spreading to short sales and pre-foreclosures. Many short sales have a signed contract awaiting lender approval and the number of active short sale listings without offers is falling quickly.
Homes Between $100,000 and $200,000 Supply down sharply and demand rising. Pricing remains stable. Homes Between $200,00 and $400,000 Improving balance between supply and demand continues to improve. Pricing stable. Homes Between $400,000 and $800,000 Supply falling fast but demand weakens a little. Sales prices remain on an upward trend. Homes over $800,000 Demand stronger while supply dropped sharply. Recovery is gaining ground. Supply continues to fall at a brisk pace and demand remains strong almost everywhere. Buyers are very active at all price levels and multiple offers are becoming commonplace. Commentary provided by The Cromford Report and Old Republic Title Agency
Managing the Financial Markets Sell in May and go away? Managing the markets is more than following history, it is following trends. Over the last several weeks we have seen a reversal in multiple sectors of the bond market. In fact, the recent momentum has been significant enough for PMWMG to re-establish three of four bond positions which we exited last December. With the prospect of inflation on the horizon and the inevitability of interest rate increases, we feel these could be short term trades. If this outlook is accurate, it’s quite likely we could liquidate these recent trades and become more defensive once again. However, if our expectation is incorrect and the bond market sustains its current momentum, we will continue to stay long in these positions until the market dictates otherwise. Although we missed a portion of the recent move in the bond market, our process allowed us to avoid much of the volatility during the first few months of the year. When was the last time you made a change in your investments in an effort to seek out growth or to protect principle? Did you base your decision on a process, or more on emotion? Which way do you feel the stock and bond markets are heading? We at PMWMG would not pretend to know which direction the market is heading, but we do feel confident that our process gives us the ability to properly gage market volatility. This in turn will allow our clients to grow their investments in good markets while providing a safety net that protects their principle from catastrophic risks. As your fiduciary, we are prepared to take the necessary steps in an effort to avoid the uncertainties a volatile market can bring. strophic The Owners/Portfolio Managers at Pogson & Matt Wealth Management Group. Please visit our website at www.pogsonmatt.com, where you can get more information on our firm, as well as sign up for our free monthly newsletter. Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Wendy Kirtland, PLLC
WKirtland@FineProp.com
480.215.0959
www. WendyKirtland.com
Cachet at Grayhawk Townhome Offered at $350,000 This single level “Classic” 2 bedroom plus den has been meticulously maintained. It features plantation shutters, split bedroom floor plan and is very spacious and open with high ceilings. Kitchen has center island, pull out drawers, Kenmore refrigerator, GE smooth cook top and breakfast nook. The expanded patio has a barbecue island with Viking grill and is surrounded by natural area open space in the back for privacy. All of this plus the community center, pool, 2 spas, fitness and the Grayhawk Golf Course nearby.
Please call Wendy to view this home 480-215-0959 Listing is courtesy of Russ Lyon Sotheby’s International Realty
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