Good morning Friend,

It's pretty clear that sellers are aware that
they're in a stronger position than they've
been in a while, but they are overdoing it.
There are 7 new listings this week, and
not a bargain among them.  What are the
sellers thinking?  2005 is not coming back,
people will pay up, but only for quality.

One seller is asking $2.1 million for a home
built in 1987.  That's a home in need of
remodeling for over $400 per square foot.
I don't think so!  Regardless of views, 
buyers expect and deserve turn-key at
prices over $2 million.  

Unfortunately, I think we can expect to see
a lot more "swinging for the fences" from
sellers as the wind is at their back.  Below
is a telling picture of the general market:



Of course, Paradise Valley prices are much
higher than the average, and haven't moved
in lock-step with the average, but the overall
trend will certainly impact us.

Here's the bottom line: prices may not shoot
up in the million plus market like they have
elsewhere, but selection isn't going to get
any better.  If you've been sitting on the
sidelines, it really is time to get out there
and start looking soon.  This time next year,
price and selection will be less favorable
than they are now.  

Here is the only new listing I like enough to
recommend a look:

Custom Territorial in Prime Location
Located near 68th St & Jackrabbit, this territorial
was remodeled from top to bottom in 2005.  It
sits on a large lot, over an acre, and has a style
much like the Hermosa Inn.  This is a great
home for families and entertaining, and will
appeal to people who appreciate this more
traditional style. Offered at just over $1.3 million.

To see all of this week's listings, please click here.

To see everything on the MLS in Paradise Valley
please click here.

Regards,
Alex
SearchParadiseValleyProperties.com

p.s. If you wish to chat, my direct line is (480) 442-7325.