There currently 9,200 homes for sale in the city of  Phoenix. Real estate deals are around every corner in the Metro area. Many REO properties need some work and we expect that. Some Phoenix real estate deals  need lots of work and cause potential buyers to go hmmmm .... And then there's the occasional house that really stinks! Literally.

I took a buyer, who flew in from New Zealand, out to look at REO properties on Wednesday and saw some really good deals for Phoenix homes for sale. The banks don't like to waste time anymore and most are starting to price properties really aggressively ... enough so that many REO homes are still getting up to 15-20 visits in the first week. I took a buyer, who flew in from New Zealand, out to look at REO properties on Wednesday and saw some really good deals for Phoenix real estate. The banks are getting wise to the game, and most are starting to price really aggressively ... enough so that many REO homes are getting up to 20 visits in the first 1-2 weeks.

Well, we are 5 homes into our search when we open the door to a really nice looking home in Phoenix. Real estate memories fill my mind, but this was one of those moments that would have been interesting to record -- then watch our reaction on video. I knew something was wrong as soon as I swung open the door. 5 steps into the house and my eyes were beginning to sting. Holy pet urine Batman! This was not the work of a random "tinkler." These pets had the run of the place. I never thought I would need to stop by Big 5 Sports and buy 2 gas masks before showing any Phoenix homes for sale.

My client was shocked at the smell. It was almost so thick it could be cut with a knife. But after traveling half way around the world to look at Phoenix real estate she could not be stopped. She proceeded to do a quick walk-through of the downstairs and headed upstairs. I started to assess her weight and wondered if I would need to carry her out of the house. It has been awhile since I worked out regularly at the gym. My mind started remembering the correct lifting techniques to avoid back injury.

She disappeared up the stairs and I tried to regain my senses. It occurred to me that she might think this yank was a pansy, so I darted up the stairs. That was a mistake because I started to breath harder. My memory was jolted into remembering that warm air rises. If it was possible, the smell was even worse upstairs. Of all the Phoenix real estate I could have been in ... then I lost my train of thought.

Where am I?

Then I remembered. My client came out of the master bedroom and headed for the stairs (thank you God). She didn't appear faint (thank you God). We headed outside and locked up the house. My client actually liked the floor plan and features and commented that removing the carpet would help a lot. She wondered what my thoughts were on the subject.

I actually had thoughts on the subject because, first of all, my sight and mind was returning. I told her I had bought a house with a similar problem at the trustee's sale, which of course was "sight unseen" (and smell un-smelled). I described the process of scrubbing and sealing concrete. I described the process of sanding and sealing 2x4's that were along the concrete floor. Thankfully she was losing interest in the house and I wouldn't need to return (thank you God)! On to better smelling Phoenix real estate!

Today I received an email from the listing agent wondering what I thought about the house. It was then I decided to write this post. My return email will contain a link to it. That should be satisfactory feedback, don't you think?

Phoenix Real Estate Market- Record Setting December, 2009?

Yes, it's true. We had 7,670 residential sales in the Phoenix real estate market last month, though it wasn't quite the all-time high. December 2004 was the only month in this last decade that had higher sales, and that was by less than 200 homes. Is that an amazing feat for the Phoenix real estate market? Definitely, considering that December is historically one of the lower sales months in the entire year as people turn towards holiday shopping and parties. It's also an impressive feat considering all of that doom and gloom reporting on the national economy.

Take a look at these numbers from the Arizona Regional MLS.

MONTH - SALES
2009 - 7,670
2008 - 5,630
2007 - 3,347
2006 - 5,311
2005 - 6,527
2004 - 7,829
2003 - 6,311
2002 - 5,954
2001 - 4,531
2000 - 3,907

Additionally, 2009 recorded the third highest residential sales in the last decade. 2004 and 2005 (boom years) were the only two years with higher residential sales in the Phoenix real estate market.

33,014 more homes were sold in 2009 than in 2008, or a 55.7% increase!

YEAR - SALES
2009 - 92,292
2008 - 59,278
2007 - 54,231
2006 - 74,106
2005 - 104,133
2004 - 98,294
2002 - 68,411
2001 - 62,523
2000 - 55,400

There are currently 33,278 homes for sale in Metro Phoenix. Real estate sales are off to a pretty good start in January 2010 after a great December 2009.

Phoenix real estate blog

Phoenix homes and foreclosures

Phoenix real estate listings - 7 months of stability - January 2010 The number of listings on the Phoenix real estate market has remained relatively stable over the last 7months. The chart indicates 33,278 active listings on the Phoenix real estate market to begin January 2010, just 319 less than during the beginning of December 2009. Active listings reached their peak near the middle / end of 2008. The decline began in early 2009, reaching a low point in September with 30,995 active listings on the Phoenix real estate market. The period of relative stability began in July, and the 7 month average since July has equaled approximately 32,000 active listings. The decrease in listings was due primarily to 2 factors: the moratorium on foreclosures and the number of "normal" sellers that canceled their listings or chose not to put their home on the market. Here is a snapshot of active listings in some of the more popular cities around the Phoenix real estate market.

These 10 cities are some of the more popular and well known within the Phoenix real estate market.

Tempe, Scottsdale, Mesa, Glendale, Chandler, Gilbert

Phoenix real estate housing market, tracker

Phoenix real estate market closes 7,586 sales in November 2009

The 7,586 residential sales recorded in November 2009 are 559 sales less than those recorded in October 2009. This reduction in sales is considered both normal and cyclical in the Phoenix real estate market. Sales peaked in June 2009 when 9,358 home sales were recorded.

The chart indicates a steady increase in home sales beginning in February and lasting until the peak in June. The steady decrease began in July and continues to date. Although not indicated on the chart, the year over year (YOY) sales in the Phoenix real estate market have now increased for two consecutive years. Sales in October 2007 were 3, 421 and sales in October 2008 were 5,267.

The Town of Maricopa was the only municipality in the Phoenix real estate market that was contrary to the decline in home sales. The Town of Maricopa experienced a slight increase in sales from 224 home sales in October to 235 homes sales and November 2009, a 5% increase.

Around the Phoenix real estate market, Scottsdale was the only other city with home sales consistent with October 2009. Scottsdale experienced a decrease of just under 2%.

I've been on other projects and slow to update these reports. Merry Christmas to all!

More about the Phoenix real estate market

Arizona Relocation

Phoenix real estate prices continue to rise - December 2009

Yes, believe it or not Phoenix real estate prices have continued on an eight month increase. The chart you are looking at below indicates the appreciation (and depreciation) rates for Phoenix real estate over the two year period from November 2007 through November 2009.

The chart assumes a baseline price per square foot in November 2007, then shows how the price per square foot has declined for Phoenix real estate until a bottom was hit in March 2009. Prices for Phoenix real estate have continued to increase over the last eight months since the bottom in March of 2009.

This Phoenix real estate chart was obtained courtesy of the Cromford Report. They are experts in the Phoenix real estate market and devote a considerable amount of time to producing accurate reports. Their reports on the Phoenix real estate market are every bit as accurate as the Case-Schiller index, but much more timely.

The data I personally keep from my own research on the Phoenix real estate market coincides with this data. My data shows that Phoenix real estate appears to have bottomed out in March 2009 at a price per square foot of $66.00 for residential resale homes. The current price per square foot for Phoenix real estate is $84.00 per square foot according to my statistics.

My statistics for Phoenix real estate are based on single-family residences, townhomes, and patio homes that are over 1,000 square feet and sell for less than one million dollars. I believe this helps to "level out" the data by removing the "extremely low" and "extremely high" prices for Phoenix real estate.

There have been pessimistic reports about a dreaded "double dip" of depreciation for Phoenix real estate. In other words, the current price of Phoenix real estate may go downwards again. The operators of the Cromford report had not found any signs the indicate that a double dip is imminent.

Surrounding Phoenix market conditions