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Metro Phoenix Real Estate Appreciation Trends
By Eddie Perez-Ruberte
After the very exciting Phoenix real estate markets we've had the last few years, I find myself answering the same questions over and over:
* What is the market doing?
* What do I think the market is going to do?
* Where are prices stagnant, falling or increasing?
* What's the best place to invest in Phoenix real estate these days?
So, in an attempt at a systematic approach to answering these and other lingering questions from my clients, friends and acquaintances, I have decided to prepare a report and write this article. It is by no means a set of fixed rules the reader must follow, but rather a few guidance points that will hopefully enlighten the reader's view of the current real estate market as well as his/her real estate investment career.
I will begin by giving the reader just some raw numbers that will hopefully help putting the rest of the analysis into perspective.
During 2006, there were 61,055 single-family-home re-sales. The average sale price throughout the year was $362,093. There was very little change throughout the year, starting at $369,000 in January and ending at $359,000 in December. This should come as no surprise, since we knew 2006 was going to be a correction year.
The rest of the analysis divided the whole Phoenix Metro are by zip codes and the main findings are summarized below:
* For an average sale price of $300K and under, Phoenix, Youngtown and Sun City topped the list of appreciating zip codes in the following order:
Zip Code City/Town% Appreciation
85020 Phoenix38%
85021 Phoenix24%
85363 Youngtown16%
85009 Phoenix15%
85373 Sun City13%
85008 Phoenix12%
85013 Phoenix12%
85033 Phoenix11%
85035 Phoenix10%
I advise you to not start jumping up and down and putting all your
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money in these zip codes, however. A month-by-month analysis showed a lot of saw-tooth (peaks and valleys) behavior. You can find a more detailed chart on my full report. However, the numbers do show a steadier upward swing in sales price for these zip codes. * For those interested in sale price of between $300K and $500K, Phoenix, Mesa, Scottsdale, Glendale, Surprise and Avondale made my list of highest-appreciating zip codes in the following order: Zip CodeCity/Town% Appreciation 85042 Phoenix22% 85205 Mesa 14% 85251 Scottsdale12% 85310 Glendale11% 85379 Surprise10% 85257 Scottsdale9% 85323 Avondale9% Again, the saw-tooth pattern was observed at this price range, but distinct upward trends can be appreciated. * Finally, for an average sale price of between $500K and $750K, Scottsdale, Goodyear, Queen Creek and Gilbert made it here in the order below: Zip CodeCity/Town% Appreciation 85259 Scottsdale15% 85338 Goodyear7% 85242 Queen Creek6% 85254 Scottsdale6% 85296 Gilbert 5% As in the previous price points, a lot of saw-tooth behavior going on here. Appreciating trends can still be observed, but they are less marked. So, what is the data telling you as an owner or potential buyer of single-family homes in the Phoenix area? 1. The first thing it is telling us should be no surprise to people who have been following our real estate market: 2006 was a period of transition and adjustments. The “saw-tooth” pattern observed is a dead giveaway. However, where there opportunities and appreciating markets? YES, THERE WERE! And THERE STILL ARE! 2. A big thing these numbers are telling us is that the bottom did NOT fall off. Even with the oscillations, average prices remained strong, either hovering around the same value at which they started or inching upward a bit. And remember: these are average numbers. Each investor or buyer's particular style/approach will produce different results. This is only a guideline to which you may want to refer to get an idea of how our market is behaving, how our Valley is growing and where. To get your FREE copy of the detailed report I wrote for my clients, complete with tables, charts and my own personal pick of where the growth is and will be for the next few years, please visit Eddie Perez-Ruberte is a succesful real estate agent and investor in Arizona. He also has worked for big multinational companies in the fields of Aerospace and Mechanical Engineering and Manufacture. He holds a BS in Mechanical Engineering from the University of Puerto Rico and a MS in Aeronautics and Astronautics from Purdue University in Indiana.
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Aldi opening new store in Greensboro
<img src='http://assets.bizjournals.com/triad/news/post-aldi*100.jpg?v=1'>Greensboro is getting yet another grocery store.
Aldi, a Batavia, Ill.-based subsidiary of Germany's Aldi Group, plans to open a new store at 1507 New Garden Road sometime in 2013, according to a spokesman for the company.
Aldi bills itself as a super-discount chain with a no-frills approach and a limited selection of 1,400 items. The company already has 10 stores in the Triad located in Asheboro, Burlington, Greensboro, High Point, Kernersville, Lexington, Thomasville and Winston-Salem.
The new Aldi store comes at a time when the landscape among grocers in the Triad is becoming increasingly competitive...<div class="feedflare">
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</div>Lorillard donates $100,000 to Greensboro arts group
Lorillard Tobacco Co. has donated $100,000 to the United Arts Council of Greater Greensboro?s annual Arts Fund campaign, which kicks off on Feb. 21,
Lorillard Chairman, President and Chief Executive Officer, Murray S. Kessler said in a statement that the company hopes "the increased support will encourage other businesses to recognize the incredible value the arts provide this community -- both for the quality of life our employees enjoy and for the vitality and economic impact the arts bring to our city...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=oW1cK0qO0H0:Oo-0MnUfzNA:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_triad?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=oW1cK0qO0H0:Oo-0MnUfzNA:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_triad?i=oW1cK0qO0H0:Oo-0MnUfzNA:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=oW1cK0qO0H0:Oo-0MnUfzNA:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_triad?i=oW1cK0qO0H0:Oo-0MnUfzNA:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=oW1cK0qO0H0:Oo-0MnUfzNA:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_triad?d=qj6IDK7rITs" border="0"></img></a>
</div>N.C. DOT awards $53 million in contracts for U.S. 29 Business, Wendover Ave. work
The N.C. Department of Transportation has awarded nearly $53 million in contracts to widen U.S. 29 Business in Rockingham County and resurface bridges on Wendover Avenue in Guilford County.
A $50.7 million contract was awarded to W.C. English Inc. of Lynchburg, Va., to widen U.S. 29 Business/Freeway Drive from South Scales Street to N.C. 14 on the western side of Reidsville in Rockingham County.
The work can begin Feb. 27, with final completion set for Nov. 1.
A separate $2.2 million contract was awarded to Lanford Brothers Company Inc...<div class="feedflare">
<a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=DvAsn6M9xHg:Km8MueTSmIM:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/bizj_triad?d=yIl2AUoC8zA" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=DvAsn6M9xHg:Km8MueTSmIM:V_sGLiPBpWU"><img src="http://feeds.feedburner.com/~ff/bizj_triad?i=DvAsn6M9xHg:Km8MueTSmIM:V_sGLiPBpWU" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=DvAsn6M9xHg:Km8MueTSmIM:F7zBnMyn0Lo"><img src="http://feeds.feedburner.com/~ff/bizj_triad?i=DvAsn6M9xHg:Km8MueTSmIM:F7zBnMyn0Lo" border="0"></img></a> <a href="http://feeds.bizjournals.com/~ff/bizj_triad?a=DvAsn6M9xHg:Km8MueTSmIM:qj6IDK7rITs"><img src="http://feeds.feedburner.com/~ff/bizj_triad?d=qj6IDK7rITs" border="0"></img></a>
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Corporate ?Personhood? to be Tested in MF Global Bankruptcy Case
The legal principle of ?corporations are ?persons?? is set to be tested in the current MF Global bankruptcy case after a former MF Global client, Adam Furgatch of Hawaii, filed a motion on Monday in... (PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/MF_Global/Corporations_are_People/prweb9172267.htm ]]>Congressman Allen West Joins The George Jarkesy Show
The George Jarkesy Show, hosted by George Jarkesy, recently had Congressman Allen West on the show to discuss the latest unemployment numbers and the 2012 elections. The show is archived at...(PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/georgejarkesy/allenwest/prweb9172672.htm ]]>Income Property - Investing Insights for IRA Investors is Now Offered...
Income property can be the ideal alternative investment for savvy self directed IRA and Solo 401K investors. However, investors can own a great income property or a so-so income property....(PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/financialsuccessinstitute/incomeproperty/prweb9172907.htm ]]>QualityStocks News - Houston Texans Steps Up the Game with...
Company's mobile marketing technology drives a 200% increase in subscriber base for Houston?s 2011-2012 NFL season(PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9174954.htm ]]>Mortgage Loan Portfolio Plans Justified Move to Larger Headquarters
Bucking Home Equity Loss Trend, Vertical Capital?s Bayard Closser Expands Firm?s Capabilities(PRWeb February 07, 2012) Read the full story at http://www.prweb.com/releases/2012/2/prweb9161111.htm ]]>
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refers to the actions which a person may take to arrange their affairs in order to maximise the value of their estate, minimise tax liability and give consideration to what should be included in a legal will, the appointment of an executor, provision for the power of attorney and the use of ...
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