There are 15 new listings this week, and closings didn't keep pace as expected in this historically slow time of year.
However, my phone is ringing off the hook with people that are making plans for the near future. Thus, while the current statistics don't show it, I continue to expect a huge amount of activity in the first quarter of the year.
There is money on the table for buyers and sellers who can get their ducks in a row sooner than later. If you're selling, you should take advantage of the surge of buyers that will be here by preparing your home now and getting it on market at the start of the year.
If you're buying, you should try to budget some time before the new year to put a property under contract. Many sellers will take the "bird in hand" especially on higher end luxury properties. Thus, you could save hundreds of thousands by acting now instead of two months from now.
Before we get to this week's statistics, just a quick note for those of you who might not have seen the article in this week's Wall Street Journal recapping the best kitchens of the year. It's full of terrific ideas for kitchen remodels, and if you'd like to see them, please click here.
Closings
The seasonal slowdown continues with $5.9 million in closings this week, up modestly from $5.1 the prior week. Once again averages were in line with past weeks, just overall volume was down. Specifically, the average sales prices was just under $1.5 million and $317 per square foot. The weighted average year of construction was 1987.
New Listings
There are 15 new listings this week, ranging from $660k to $5.9 million. Sellers are getting more aggressive with asking prices, with all the homes under $1 million this week being difficult to recommend. It's been a while since I've featured a property under $1 million in this newsletter, and I'd like to think we'll see something with potential soon. But, at the rate things are going, $1.5 million will soon be the going rate for a handyman special in a decent location.
Here are my recommendations for quality and/or value this week:
Exceptional Family HomeThis 6 bedroom home was designed with families in mind, with every amenity you could want for children. It's on a single level with a large family room, media room, and a dining room that seats 12. It sits on a flat lot over an acre near Doubletree & Invergordon, boasts a sport court and fenced diving pool. A solid value at the asking price of $2.2 million. -> Quick Report
-> Detailed Report
Remodel Opportunity This single level home sits on a large flat lot with mature landscaping, and offers over 5,000 square feet of interior space. It could use some TLC, but there's quite a lot here at the asking price of $1.3 million, including a guest house and 5 car garage.
European Style Estate There is very fine attention to detail in this 6 bedroom estate in the foothills of Mummy Mountain near Paradise Valley Country Club. It is over 7,300 square feet built in 1999, and is for someone who is very discriminating with respect to the quality of interior finishes. This is priced toward the upper end of the range at $546 per square foot, and to be fair the finishes deserve some premium.
To see all of this week's listings in PV, 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.Regards,
Alex
SearchParadiseValleyProperties.com iParadiseValley.com
(480) 442-7325p.s. My upcoming book with Brian Tracy will be released soon. To get the first chapter free before it hits the bookstores, along with updates and other bonuses, please click here.
(c) 2013 Alex Goldstein PLLC
|
