Subject: Paradise Valley Weekly - 14 New Listings, New Federal Reserve Chief's Impact on Real Estate

It's no secret that the policy of the US Federal Reserve has a major impact on all markets, including real estate. So all eyes were on Janet Yellen as she made her first remarks. In a nutshell she is planning to continue the course of Ben Bernanke. A terrific summary of Fed policy and its impact on rates can be found here.

Closings
Closings remained strong, up slightly to $12.5 million this week. The transactions were much smaller than the previous week, with many remodels and teardowns -- hence the average price of $1.25 million from $2.5 million the prior week. The average price per square foot was down to $307 from $361, reflecting the age of homes sold --  built on average in 1977 vs 1999 the prior week.

New Listings
The mix this week is frankly a bit disappointing. There are a couple of homes in subpar locations, a couple already under contract, and a lot of older properties taking advantage of the strong market for remodels and teardowns, as well as some ho-hum properties in the midrange price point for PV.

14 new listings this week ranging from $750k to $2.25 million, alas none that spur me to recommend quick action.

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

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

That's all for this week, I'll be back next week with all the latest in Paradise Valley real estate.

Thank you,
Alex
SearchParadiseValleyProperties.com
iParadiseValley.com
(480) 442-7325


p.s. My book on real estate, co-authored by Brian Tracy, can be found on Amazon here.


































(c) 2014 Alex Goldstein PLLC
Realty One Group, 7975 N Hayden Road #101, Scottsdale, AZ 85258, United States
You may unsubscribe or change your contact details at any time.

    This is an online snapshot of a newsletter created by the owner of Search Paradise Valley Properties (Realty One Group, 7975 N Hayden Road #101, 85258 Scottsdale, United States) and sent via GetResponse on 2014-02-15. Report abuse