1. ROG NEWS YOU CAN USE
February 2013
Dennis Soeffner
(480) 263-2945
dennissoeffner@gmail.com
PHOENIX HOME VALUES SOAR AT END OF 2012 LEAD NATION
The latest figures released Tuesday by Zillow Inc. show Phoenix home values soared by 22.5 percent year-
over-year during the last three months of 2012.
That’s significantly better than the nationwide average of 5.9 percent growth for the same period, and by far
the biggest increase of any major metropolitan area examined by Zillow. San Jose, Calif. trailed far behind in
second place at 15.4 percent, followed by San Francisco’s 14 percent and Las Vegas’s 13.9 percent.
Zillow economists expect the upswing in Valley home prices to continue through this year, albeit at a much
slower 8.5 percent pace. The city of Phoenix should see a slightly bigger increase of almost 10 percent, while
areas such as Scottsdale and Paradise Valley will see the biggest hikes of 13 to 14 percent.
(Phoenix Business Journal 1/22/13)
WHEN CAN I BUY AGAIN? If you need loan information, call me at (602) 385-4804 Direct, or
Email carla.hancock@novahomeloans.com CARLA HANCOCK, SENIOR LOAN OFFICER
CARLA
HANCOCK
NMLS #208376
BK #0902429
NOVA NMLS #3087

2. STATS 2012 YEAR IN REVIEW
Overall, the progress has been slow, steady and upward. Total
sales in 2012 of 90,680 fell 10,756 units, or 10.6%,
OUR TEAM:
below 2011’s total. The 2012 figure is disappointing,
following 2011’s second highest ranking of the last 12 years.
Still 2012 ranks sixth highest during that period. High sales
figures in 2011 were driven by unprecedented affordability. In 2012,
Buyer demand continued to siphon off the more affordable
properties. By March, the overall 2012 sales trend headed downward
due to dwindling inventory. Some consider 2003 and 2004 the last
normal Valley markets. The 2012 sale figure rests slightly above the
midpoint between 2003 and 2004, or 80,052 and 98,922,
respectively.
(ARMLS Jan 2013)
ARIZONA REAL ESTATE FORECASTS FEBRUARY EVENTS
An inventory shortage is driving home prices up in some Arizona cities 58th ANNUAL SCOTTSDALE ARABIAN
as the region faces a dwindling supply of cheaply priced foreclosures. HORSE SHOW, Feb 14-Feb 24,
But as more foreclosures hit the market later this year the rate of WestWorld, 16601 N Pima Rd., $10, $7
housing inflation is forecast to slow. Seniors and military, Free children 12 and
younger, 800-745-3000,
scottsdaleshow.com
Phoenix area home sales are sliding as a result of the inventory
shortage triggered by lower prices on housing. The supply of sub
$100,000 homes is dwindling, despite multiple offers on homes under CELEBRATION OF FINE ART, Jan 12-
that listed on the market. The shortage of affordable housing in March 24, 10AM-6PM, SW corner of
Hayden Road, 18400 N Hayden Rd,
Phoenix is critical as owner occupant buyers get outbid by investors Scottsdale, (480) 443-7695. Meet the
for many bargain priced properties. The Arizona economy still faces artists, 100 Artist Studios.
an uphill battle, including a lack of jobs and problems surrounding the
state’s immigration policies, which has sent some real estate investors
CAVALIA ODYSSEO Dec 19, 2012-
to sell their properties. February 10, 2013. White big top, N.
Scottsdale Rd and Loop 101. “The bond
However, new home sales are picking up in Phoenix and may even be between man and horse.” 1-(866)
nudging towards stabilizing as builders pull an increasing share of 999-8111 tickets.
new home building permits. The bottom of the housing market is likely
to appear sooner rather than later in Phoenix, which is now forecast to WAR HORSE, Feb 5-Feb 10 ASU
see average home values inflate an average of 4.7% in 2012, despite Gammage, Tempe, $23.50 and up.
a large volume of foreclosures expected to hit the market in the latter 480-965-3434, asugammage.com
part of the year.
ARIZONA RENAISSANCE FESTIVAL
Higher home prices make it more difficult for the Scottsdale housing Feb 9 - March 31, 10AM-6PM, Sat &
market, despite an influx of wealthy investors shopping for deals. After Sun’s, Renaissance Festival Grounds,
a slump that has lasted almost six years, Scottsdale 12601 E. Highway 60, Apache Junction,
should experience improving sales throughout most of $21, $11 5-12 yrs old, 520-463-2600,
the year, with appreciation projected to average 3.5% www.royalfaires.com/arizona
by years end, and Phoenix appreciation projected to
average 4.7%. JAY LENO, Feb 17, 8PM, Talking Stick
Resort, 9800 E Indian Bend Rd., $65-
(Housing Predictor 1/28/13) $225, 480-850-7734, ticketmaster.com
7975 N. Hayden Rd, Ste A-101, Scottsdale, AZ 85258
www.RealtyONEaz.com