Home Takes Center Stage for the Holidays

There's no place like home for the holidays and here's the December, 2011 Market Watch from the market gurus at Coldwell Banker Residential Brokerage.  A new consumer survey from Coldwell Banker Real Estate confirmed that the majority of Americans wouldn't have it any other way. Approximately four in 10 respondents (39%) say their holiday get‐togethers include 15 or more family members and friends, and more than half (54%) say they stay overnight with their families so they can all be in one household during the holidays.

Additionally, the survey of nearly 1,000 people found:

• More than three‐quarters (78%) of Americans "deck the halls" by decorating their home for the holidays. The vast majority (67%) say they decorate some, without going overboard, while 11 percent say they "go all out." Only 21% don't decorate at all.
• Most people claim they've never snooped for presents. 77% of respondents said they have never looked for stashed‐away presents before it's time to open them. (Only 23% freely admit to peeking around)!
• People gather in spots where they can mingle and graze. When asked which room is most used during the holidays (the kitchen, dining room or living room / den), the kitchen and living room are split almost evenly as the most popular spaces (41% and 43%, respectively), while 12% said the dining room is the most frequented area.

We all have a favorite memory or tradition that involves the holidays and being home with friends and family. We cook and share food, host parties and bring everyone together in our homes. At Coldwell Banker, we recognize that a home is more than just a place to live. This is true more than ever around the holidays.
Holiday events, memories and traditions underscore the emotional side of owning a home in a fun way, highlighting the role of family and their homes as central holiday headquarters. Watch this man-on-the-street video created by Coldwell Banker that showcases just how intertwined home and family are for some.

Here's the latest market trends for select ares. If you'd like trends for an area not listed, let me know and I'll get that to you.

Cave Creek market trends

Fountain Hills market trends

Paradise Valley market trends

Phoenix market trends

Scottsdale market trends

Wishing you happy memories, continued traditions and Happy Holidays to all!!

Photo from Flickr courtesy of mikebfotos.

Baby Boomers Impact on Housing

Another benefit of hanging my license at Coldwell Banker: Each month the brains at corporate put out the monthly Market Watch - This month's edition does a great job - not so much in reminding many of us that we are indeed getting older (it's pretty obvious each morning as I notice a new sag someplace) - but the effect the boomers have on the market.   

Here they come! Recently, the New York Life Insurance Company did a survey of Baby Boomers as they prepare to enter retirement. Here are some interesting facts surrounding Boomers.

• Beginning in January, 2011 and over the next 20 years 78 million Baby Boomers will begin turning 65 in the United States. That’s 10,000 people a day for the next 20 years! Baby Boomers represent 26% of the US population so soon, one in four US citizens will be in retirement.
• Baby Boomers have their own set of needs, desires and values that they will be bringing to the consumer table. 47% of them plan to downsize their home in preparation for retirement. When asked about their retirement necessities, 94% said the Internet, 60% said shopping, 51% said pet care and 47% said providing the funding of education for their children and grand children.
• When asked about their biggest concerns as they contemplate the next 20 years, Boomers responded, health care, outliving their income and the decline or potential decline in Social Security. Additionally, 22% said that they are delaying their retirement due to current economic factors. Of those who are waiting, only 10% said that they plan to sell their home as part of their financial process of preparing for retirement.
• The Median income of Baby Boomers entering retirement is $62,300, the highest in history, but due to life expectancies, many think it will be a challenge. Currently, the average life expectancy for Boomers is 79 for males and 83 for females, but keep in mind that’s an average and many will live much longer creating various housing needs as they age. Currently, the state with the largest number of Baby Boomers is California with 8.9 million currently in the state.

If you ask me, let's invite them to consider Arizona!  Where else can you get our lifestyle, diversity, culture and attractions?  

For more detailed information, check out...

Latest Scottsdale Market Trends

Latest Paradise Valley Market Trends

Latest Phoenix Market Trends 

Some good stuff.  If you'd like the latest market trends for another valley area not included above, let me know and I'll send it to you.  Watch for updates each month.

Photo from Flickr courtesy of x-ray delta one

Fountain Hills: The Secret's Out

Scenic Four Peaks.  Photo from Flickr courtesy of midiman.

Arguably some of the best views in all of the Valley are offered in Fountain Hills.  If breathtaking views is part of the criteria for your second home or vacation home, Fountain Hills needs to be part of the search.  Often overlooked, and happily so if you talk to residents of Fountain Hills, it sits to the east of Scottsdale on the back side of the McDowell’s.  As you crest the hill on Shea Blvd, you’ll immediately see why locals want to keep it a secret.

Fountain Hills fountain photo from Flickr courtesy of Brent Schmidt.

The founding fathers of Fountain Hills clearly made a huge error in naming the town.  “Hills” don’t even come close to describing the picture postcard views that unveil themselves in every direction, around every curve.  We’re talking mountains here.  Peaks, complete with a dusting of snow at certain times of the year.  And, the fountain is really an enormous geyser that shoots straight into the heavens. 

This small, sleepy little town is quiet and quaint.  No big box stores or shopping malls to congest the scene.  Local shops and eateries provide refreshing charm. And from what I’ve heard, golf that is second to none.

For the home buyer, Fountain Hills offers it all – from condo’s and townhomes to lock ‘n leave patio homes.  Single family villas to sprawling estates behind gated entrances.  And, nearly all have taken advantage of the spectacular views and natural desert terrain.

A testament to the love affair locals have with Fountain Hills may be best illustrated by the number of homes for sale in town.  Inventories are at an all time low.  In going through the MLS today, there are a total of 356 listings – that’s it.  And, when you cull out the condo’s from the total number of listings on the market today, you have 219 single family homes to select from.  That’s it. Period.

And, last month, while most other cities in the valley were closing 50, 60 or even 70% of total sales in the REO/distressed segments, Fountain Hills sales was exactly the opposite.  70% were “normal” transactions.  Wow.

See for yourself - see all active single family homes currently available for sale in Fountain Hills here.

Panoramic views of Fountain Hills from Flickr coutesy of mlabowicz.

With inventories like that, it’s a seller’s market in Fountain Hills.  Those views are indeed worth the few extra minutes drive east on Shea.  If you’re tired of stucco walls and homes on top of one another, consider Fountain Hills. But hurry.  When a home hits the market, it’s likely not to last long!

Phoenix Area Market Trends through Feb. 2011

Phoenix 1955 from So. Mountain.  

The lastest market stats are out reporting real estate sales activity through February, 2011.  Matt Canady at First American Title put this worksheet together:

Bank owned and short sales continue to be the trend - the ARMLS STAT report makes this trend loud and clear:

 

Taken from AZ Regional MLS Feb. 2011 STAT report

Photo of 1955 Phoenix from Flickr courtesy of jczart.