Recently I participated on a national audio conference. The four-member panel included National Vice Presidents of short sale/foreclosure operations in two major lending institutions, a real estate and mortgage research analyst and myself; moderated by a national mortgage newsletter editor. With my short sale expertise and dedication to helping homeowners avoid foreclosure, I am impressed with the strategies in place by these two major lenders. Their commitment to the short sale process is a shift to assist in stabilizing the local housing communities through short sales. I still hear statements that short sale and foreclosure are the same. Nothing could be further from the truth. Bottom line: the foreclosure is more costly to the homeowner, the community and the lender. A home that sells in a short sale triggers both a 1099 for the lender’s total loss and in many instances a deficiency judgment for the lender loss can be pursued as a collectible debt. Not all residential properties in Arizona on 2.5 acres or less, carry debt that escapes deficiency judgments. A lender’s loss in a short sale is proven, in the majority of cases, to be less than when it goes to foreclosure. The majority of short sales are in better condition and look like a normal sale except with a contingency that the seller’s lender approve the sale for less than the indebtedness, due to hardship. The foreclosure adds legal costs, eviction costs, cleanup costs, maintenance and carrying costs at an average of nearly six months or longer. At the end of the process with a trustee-authorized sale to the end buyer, a 1099 is still issued to the foreclosed owner and a deficiency judgment may still be enforceable all at a significantly higher cost (perhaps 30% or greater loss than at the short sale level). As we reflect, mid-year, on the state of the economy - nationally, regionally and locally, we see the combined efforts at all levels is critical to healing the housing crisis at neighborhood levels. I am pleasantly surprised when neighbors of a property facing foreclosure are hoping for a successful short sale. The public is now more aware that the short sale today may become the foreclosure in several months, devalued even more, with greater economic damage to the neighborhood. The distressed property sales define the current market. Each month nearly 80% of the sales represent REO (bank-owned) and short sales. 50% of the inventory is non-distressed and yet represents less than 20% of a single month’s sales. The brisk activity is truly under $300,000. And the challenge that faces the luxury market is squarely rooted in the statistics. Throughout the first seven months, sales over

$400,000 represent less than 4% of total sales. To compete in today’s market, a Seller must be laser-perfect on list price demonstrating true value to the buyer who will not overpay for anything in today’s economy.

THE GAYLE HENDERSON GROUPABR • CRS • GRI • e-Pro • CLHMS • CDPE

RE/MAX Excalibur8510 E. Shea Blvd. #100 • Scottsdale, AZ 85260

602.850.4335gayle@AZMovingPlan.com

AZAvoidForeclosureNow.com

Gayle HendersonPresents

2009 Metro Phoenix Economic SnapshotMid-Year Update

If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996

The Great Recession Where Do We Stand?

The Local Housing Market Who’s Buying? What’s Selling? Are You Missing Out?

Metro Phoenix Declared A “Best City To Buy A Home”

M E T R O P H O E N I X

M I D - Y E A R U P D A T E

2009 January - June Sales Statistics By Community

2009 January - June Average Sales Price By City

Community Average Days On List/Sell # Sales Price Market Price Ratio Closed

Ancala ........................................$1,032,083 ................. 332 ..................88% ..........................12Bellasera ........................................$556,666 ................. 217 ..................94% ...........................3Boulders ......................................$1,410,000 ................. 253 ..................75% ...........................5DC Ranch...................................$1,176,515 ................. 198 ..................91% ..........................53Desert Highlands .......................$1,471,666 ................ 186 ..................90% ...........................9Desert Mountain ........................$1,969,599 ................. 220 ..................87% ..........................30Eagle Mountain ............................$648,217 ................. 139 ..................90% ..........................10Estancia ......................................$1,964,142 ................ 354 ..................76% ...........................7FireRock ......................................$1,423,195 ................ 335 ..................87% ..........................20Gainey Ranch ...........................$1,165,571 ................. 246 ..................87% ...........................7Grayhawk .....................................$688,531 ................. 134 ..................94% ..........................45Hidden Hills ....................................$444,233 ................. 144 ..................94% ...........................6Ironwood Village ..........................$352,795 ................. 168 ..................95% ..........................21Legend Trail ...................................$464,491 ................. 110 ..................94% ..........................10McCormick Ranch .......................$491,249 ................. 147 ..................93% ..........................11McDowell Mountain Ranch ........$534,114 ................. 143 ..................94% ..........................78Mirabel .......................................$1,254,135 ................. 369 ..................89% ..........................11Scottsdale Mountain ...................$686,515 ................. 169 ..................92% ..........................18Scottsdale Ranch .........................$639,343 ................. 156 ..................93% ..........................22Sincuidados ..................................$867,500 ................. 201 ..................93% ...........................4Silverleaf .....................................$2,860,043 ................. 397 ..................86% ..........................14Stonegate .....................................$545,492 ................. 209 ..................95% ..........................14Terravita .........................................$532,111 ................. 147 ..................91% ..........................31Troon North ....................................$796,563 ................. 246 ..................89% ..........................30Troon Village .................................$778,386 ................. 323 ..................95% ..........................12Whisper Rock .............................$1,970,000 ................. 379 ..................87% ...........................3Winfield ..........................................$645,000 ................. 238 ..................91% ...........................3

Statistics gathered from ARMLS. All information deemed reliable but not guaranteed.(Single-Family Residences)

Statistics gathered from ARMLS. All information deemed reliable but not guaranteed.(Single-Family Residences)

Scottsdale: $567,147

Gilbert: $226,160

Mesa: $159,694

Chandler: $237,766

Peoria: $190,949

Glendale: $126,024

Carefree: $720,204

Cave Creek: $365,692

Phoenix: $116,750

Litchfield Park: $207,062

Paradise Valley: $1,695,616

Fountain Hills: $517,820

Tempe: $222,620

RECESSION IS LOSING STEAM Here in the second half of 2009, there are many signs that the recession may be abating. The Kiplinger Letter reports, “The economic pluses outweigh the minuses. Consumers are now showing a willingness to spend, despite their high debt levels and rising foreclosure rates. Their long-term history suggests they’ll keep it up. Confidence, rebounding smartly, will keep improving.” In fact, more than 90% of economists predict that the recession will end this year. Nearly 74% of the forecasters expect the recession to end in the third quarter. Another 19% estimate the turning point in the fourth quarter of this year. This, according to a survey of leading forecasters by the National Association for Business Economics (NABE). NABE forecasters also reported that they believe the economy will grow at a 0.7% pace in the third quarter and at a 1.8% pace in the fourth quarter. While that growth may appear to be minute, compare that to a shrinkage at a 6.1% annualized pace in the first three months of 2009. Manufacturing’s slump is slowing and businesses’ inventories are shrinking. Each suggests that dwindling supplies will soon need to be replenished. The Commerce Department reports that construction spending is on the rise after falling for several straight months in a row. “What looked like a flicker of light at the end of the tunnel is now starting to look like a beacon,” said Richard Yamarone, economist at Argus Research. “We are no longer in the deep throes of recession. A recovery may be just a few months away.”

CONTINUING CAUSES FOR CONCERN While positive signs begin emerging for our economy, there are still many factors at play to be aware of. And, while many forecasters are expecting a turn-around in our recession soon, they note that the road ahead is expected to be bumpy.

Unemployment rates continue to climb. The country’s jobless rate, which rose to a 25-year high of 9.4% in May is expected to hit double-digits by next year. Even as business begins to improve, wary employers will remain reluctant to hire. It is not unusual for unemployment rates to take longer to recover than the rest of the economy, as evidenced in prior recessions. The stock market remains jumpy and unpredictable. US households have lost billions of dollars in the stock market in the last two years. The uncertainty of the market is another factor for worried investors. Commercial real estate’s troubles are growing deeper. While the housing market is beginning to improve, the commercial sector is just now feeling a similar crunch and is expected to suffer for a number of years.

REASONS FOR OPTIMISM While spending is still down for households, the consumer savings rate is up. Americans’ personal savings rate soared to 5.7% in April, the highest in nearly 10 years. Savings calculated at $620.2 billion is the highest level on record dating back to January 1959. While consumers may continue to be thrifty, as optimism increases households will have money to spend again. The biggest economic problems of the recession are behind us. The financial industry is beginning to recover. Some banks are raising capital and lending guidelines are beginning to loosen up, aiding the recovery of our “credit crunch.” The auto industry is being revived. Important changes have been made and the landscape of the industry will be forever altered. Perhaps surprisingly, the housing market is a bright spot in the mix. The source of much turmoil and economic instability, housing is beginning a slow climb to recovery. Many cite the housing market as the catalyst that began our economic distress and predict that it’ll be the housing market that leads the way out.

EXCELLENT NEWS IN HOUSING!

Sales are up, inventory is down, prices are stabilizing and buyers and sellers all across Metro Phoenix are taking notice. As Phoenix has been branded in the national media as one

of the hardest-hit cities during this housing crash, it’s also the city that is gaining attention as one of the best opportunities to buy a home (see sidebar: Metro Phoenix – A Best City to Buy a Home).

HAVE WE HIT BOTTOM YET? The bottom of a market isn’t visible while it’s at the bottom, only by looking back while the market is on the way up. Michael Orr of The Cromford Report, a well-respected information source on Valley real estate, called the bottom in early April. While it’s still too early to clearly see when the bottom occurred (if it has), signs are indicating that he may be correct. The first quarter of the year saw steadily decreasing median home prices each month with April as the worst so far (see chart: January-

June 2009 Sales Statistics) followed by a steady rise in prices. Coupled with rising numbers of closed transactions and pending sales in the months to follow, the argument seems to lean in Michael Orr’s favor.

SELLERS HOLD THE UPPER HAND AGAIN If you can believe it, Metro Phoenix as a whole is officially now a seller’s market. A normal market is defined as a market with a six-month supply of homes. It’s a healthy, “normal” supply vs. demand ratio. When the supply exceeds demand, as we’ve seen over the last couple of years, the absorption rates drop and the month’s supply of homes rises higher than six months – bringing us a “buyer’s market.” When demand outweighs supply, as in a “seller’s market”, we’ll see months of supply fewer than six. Broken down into smaller sections, parts of Metro Phoenix have as low as a two-month supply while other segments are above the six-month mark. The luxury market is still a buyer’s market, but has been rapidly making great strides towards a more balanced market. (See chart: Month’s Supply in Housing Inventory.) It’s important to note that the Metro Phoenix housing market is made up of a myriad of micro-markets. Statistics gleaned from Valley wide sales figures aren’t necessarily indicative of what’s occurring in one’s specific neighborhood. Your Realtor is your best source for localized real estate statistics specific to where you live.

BUYERS ARE BUYING AND HOMES ARE SELLING At the height of the housing frenzy 10,252 homes were sold in June of 2005, making it the highest number of sales in our market’s history. After languishing at the 3,000 – 4,000 range in late 2007 and early 2008, the number of escrows is once again pushing towards that record set in 2005 (see chart: Top Ten Months for Residential Sales). Homes are selling; many with scores of offers and bidding wars to boot. First-time homebuyers taking advantage of the up to $8,000 tax credit, investors, and savvy purchasers are finding the opportunity today too great to pass up. With record-low interest rates, affordable prices and an abundance of properties to choose from, many find now an excellent time to buy.

BANK-OWNED AND DISTRESSED PROPERTIES Most of what is fueling the high sales figures in Metro Phoenix are the foreclosures and short sales. Additionally, the majority of homes being purchased are under the $250,000 price point. Again, opportunists are seeing excellent value and are clearing these properties out of the inventory. Although there is a speculation of a coming “wave of foreclosures” in the second half of the year, it appears that the strong demand for these properties will alleviate any potential problems associated with the influx of new listings.

R E S I D E N T I A L R E A L E S TAT E

G E N E R A L E C O N O M I C S N A P S H O T

GDPFlattening,

then up by year-end

Interest RatesPrime at 3.25%;

10-year T-notes volatile, ending year down a bit

InflationUp about 1.5% this year

UnemploymentPeaking above 10%

in early 2010

Housing SalesUp a bit in the

second half of 2009

Retail SalesSecond half better

than the first

Trade DeficitFalling to

$497 billion in 2009

Source: kiplingerbiz.com

National Economic Forecasts

Metro Phoenix -

A BEST CITY TO BUY A HOME A recent Forbes.com article cited that Phoenix was one of the best cities to buy a home. “While the majority of the nation’s housing markets are still working toward a bottom, some cities are boasting fundamentals that make them good places to buy a home now.” In addition to Phoenix, the article also cited Los Angeles, Denver, Boston and San Diego.

How did Forbes.com determine that Phoenix was a best place to buy now? The article says, “First, we examined the number of ZIP codes with 25% of the area’s sales to determine those in which activity is most evenly distributed. Next, we examined increase and decrease in price per square footage to determine where market value is the highest. Last, we looked at transaction rates in each city to determine where the housing markets are most active. We scored each city by category, and then combined the scores to determine the final ranking.”

Top Ten Months for Residential SalesMetropolitan Phoenix

Rank Month Sales 1 .................. June 2005 ............10,252 2 .................. Aug. 2005 .............10,031 3 .................. June 2004 ............10,019 4 .................. March 2005 ............9,987 5 .................. May 2005 ...............9,890 6 .................. April 2005 ..............9,600 7 .................. July 2005 ................9,394 8 ............... June 2009 ..........9,348 9 ............... May 2009 ...........9,290 10 ................ Sept. 2005 ..............9,213

Statistics gathered from ARMLS. Special thanks to Fletcher Wilcox, GCTA

January - June 2009 Sales StatisticsSingle-Family Homes / Metro Phoenix

Median Home Price Avg. Days on Market

January $130,000 112February $127,900 121March $120,000 125April $118,000 120May $121,500 117June $130,000 113Source: ARMLS. Information is deemed reliable but not guaranteed.

Residential Home SalesMetropolitan Phoenix

Source: ARMLS. Information is deemed reliable but not guaranteed.

Jan. 09 Feb. 09 Mar. 09 Apr. 09 May 09 Jun. 09

4,742 5,476 7,628 8,552 9,290 9,348

Month’s Supply in Housing Inventory2009

Jan. Feb. Mar. Apr. May Jun.Metro Phoenix Overall 9.25 6.75 5.25 3.5 2.75 2.75Phoenix 7.25 5.25 4.0 2.5 2.25 2.25West Valley 8.25 6.0 4.25 2.5 2.0 2.0 NE Valley 21.75 17.5 16.0 11.5 8.0 7.25SE Valley 8.25 6.25 4.75 3.0 2.25 2.5Scottsdale $1 Million + 60.0 44.0 39.25 30.0 24.25 21.5Scottsdale $1 Million - 15.5 12.25 11.25 7.5 5.25 4.75Paradise Valley 28.0 37.5 82.5 34.5 22.0 19.25Source: Calculated from closed sales and active listings reported in ARMLS.

RECESSION IS LOSING STEAM Here in the second half of 2009, there are many signs that the recession may be abating. The Kiplinger Letter reports, “The economic pluses outweigh the minuses. Consumers are now showing a willingness to spend, despite their high debt levels and rising foreclosure rates. Their long-term history suggests they’ll keep it up. Confidence, rebounding smartly, will keep improving.” In fact, more than 90% of economists predict that the recession will end this year. Nearly 74% of the forecasters expect the recession to end in the third quarter. Another 19% estimate the turning point in the fourth quarter of this year. This, according to a survey of leading forecasters by the National Association for Business Economics (NABE). NABE forecasters also reported that they believe the economy will grow at a 0.7% pace in the third quarter and at a 1.8% pace in the fourth quarter. While that growth may appear to be minute, compare that to a shrinkage at a 6.1% annualized pace in the first three months of 2009. Manufacturing’s slump is slowing and businesses’ inventories are shrinking. Each suggests that dwindling supplies will soon need to be replenished. The Commerce Department reports that construction spending is on the rise after falling for several straight months in a row. “What looked like a flicker of light at the end of the tunnel is now starting to look like a beacon,” said Richard Yamarone, economist at Argus Research. “We are no longer in the deep throes of recession. A recovery may be just a few months away.”

CONTINUING CAUSES FOR CONCERN While positive signs begin emerging for our economy, there are still many factors at play to be aware of. And, while many forecasters are expecting a turn-around in our recession soon, they note that the road ahead is expected to be bumpy.

Unemployment rates continue to climb. The country’s jobless rate, which rose to a 25-year high of 9.4% in May is expected to hit double-digits by next year. Even as business begins to improve, wary employers will remain reluctant to hire. It is not unusual for unemployment rates to take longer to recover than the rest of the economy, as evidenced in prior recessions. The stock market remains jumpy and unpredictable. US households have lost billions of dollars in the stock market in the last two years. The uncertainty of the market is another factor for worried investors. Commercial real estate’s troubles are growing deeper. While the housing market is beginning to improve, the commercial sector is just now feeling a similar crunch and is expected to suffer for a number of years.

REASONS FOR OPTIMISM While spending is still down for households, the consumer savings rate is up. Americans’ personal savings rate soared to 5.7% in April, the highest in nearly 10 years. Savings calculated at $620.2 billion is the highest level on record dating back to January 1959. While consumers may continue to be thrifty, as optimism increases households will have money to spend again. The biggest economic problems of the recession are behind us. The financial industry is beginning to recover. Some banks are raising capital and lending guidelines are beginning to loosen up, aiding the recovery of our “credit crunch.” The auto industry is being revived. Important changes have been made and the landscape of the industry will be forever altered. Perhaps surprisingly, the housing market is a bright spot in the mix. The source of much turmoil and economic instability, housing is beginning a slow climb to recovery. Many cite the housing market as the catalyst that began our economic distress and predict that it’ll be the housing market that leads the way out.

EXCELLENT NEWS IN HOUSING!

Sales are up, inventory is down, prices are stabilizing and buyers and sellers all across Metro Phoenix are taking notice. As Phoenix has been branded in the national media as one

of the hardest-hit cities during this housing crash, it’s also the city that is gaining attention as one of the best opportunities to buy a home (see sidebar: Metro Phoenix – A Best City to Buy a Home).

HAVE WE HIT BOTTOM YET? The bottom of a market isn’t visible while it’s at the bottom, only by looking back while the market is on the way up. Michael Orr of The Cromford Report, a well-respected information source on Valley real estate, called the bottom in early April. While it’s still too early to clearly see when the bottom occurred (if it has), signs are indicating that he may be correct. The first quarter of the year saw steadily decreasing median home prices each month with April as the worst so far (see chart: January-

June 2009 Sales Statistics) followed by a steady rise in prices. Coupled with rising numbers of closed transactions and pending sales in the months to follow, the argument seems to lean in Michael Orr’s favor.

SELLERS HOLD THE UPPER HAND AGAIN If you can believe it, Metro Phoenix as a whole is officially now a seller’s market. A normal market is defined as a market with a six-month supply of homes. It’s a healthy, “normal” supply vs. demand ratio. When the supply exceeds demand, as we’ve seen over the last couple of years, the absorption rates drop and the month’s supply of homes rises higher than six months – bringing us a “buyer’s market.” When demand outweighs supply, as in a “seller’s market”, we’ll see months of supply fewer than six. Broken down into smaller sections, parts of Metro Phoenix have as low as a two-month supply while other segments are above the six-month mark. The luxury market is still a buyer’s market, but has been rapidly making great strides towards a more balanced market. (See chart: Month’s Supply in Housing Inventory.) It’s important to note that the Metro Phoenix housing market is made up of a myriad of micro-markets. Statistics gleaned from Valley wide sales figures aren’t necessarily indicative of what’s occurring in one’s specific neighborhood. Your Realtor is your best source for localized real estate statistics specific to where you live.

BUYERS ARE BUYING AND HOMES ARE SELLING At the height of the housing frenzy 10,252 homes were sold in June of 2005, making it the highest number of sales in our market’s history. After languishing at the 3,000 – 4,000 range in late 2007 and early 2008, the number of escrows is once again pushing towards that record set in 2005 (see chart: Top Ten Months for Residential Sales). Homes are selling; many with scores of offers and bidding wars to boot. First-time homebuyers taking advantage of the up to $8,000 tax credit, investors, and savvy purchasers are finding the opportunity today too great to pass up. With record-low interest rates, affordable prices and an abundance of properties to choose from, many find now an excellent time to buy.

BANK-OWNED AND DISTRESSED PROPERTIES Most of what is fueling the high sales figures in Metro Phoenix are the foreclosures and short sales. Additionally, the majority of homes being purchased are under the $250,000 price point. Again, opportunists are seeing excellent value and are clearing these properties out of the inventory. Although there is a speculation of a coming “wave of foreclosures” in the second half of the year, it appears that the strong demand for these properties will alleviate any potential problems associated with the influx of new listings.

R E S I D E N T I A L R E A L E S TAT E

G E N E R A L E C O N O M I C S N A P S H O T

GDPFlattening,

then up by year-end

Interest RatesPrime at 3.25%;

10-year T-notes volatile, ending year down a bit

InflationUp about 1.5% this year

UnemploymentPeaking above 10%

in early 2010

Housing SalesUp a bit in the

second half of 2009

Retail SalesSecond half better

than the first

Trade DeficitFalling to

$497 billion in 2009

Source: kiplingerbiz.com

National Economic Forecasts

Metro Phoenix -

A BEST CITY TO BUY A HOME A recent Forbes.com article cited that Phoenix was one of the best cities to buy a home. “While the majority of the nation’s housing markets are still working toward a bottom, some cities are boasting fundamentals that make them good places to buy a home now.” In addition to Phoenix, the article also cited Los Angeles, Denver, Boston and San Diego.

How did Forbes.com determine that Phoenix was a best place to buy now? The article says, “First, we examined the number of ZIP codes with 25% of the area’s sales to determine those in which activity is most evenly distributed. Next, we examined increase and decrease in price per square footage to determine where market value is the highest. Last, we looked at transaction rates in each city to determine where the housing markets are most active. We scored each city by category, and then combined the scores to determine the final ranking.”

Top Ten Months for Residential SalesMetropolitan Phoenix

Rank Month Sales 1 .................. June 2005 ............10,252 2 .................. Aug. 2005 .............10,031 3 .................. June 2004 ............10,019 4 .................. March 2005 ............9,987 5 .................. May 2005 ...............9,890 6 .................. April 2005 ..............9,600 7 .................. July 2005 ................9,394 8 ............... June 2009 ..........9,348 9 ............... May 2009 ...........9,290 10 ................ Sept. 2005 ..............9,213

Statistics gathered from ARMLS. Special thanks to Fletcher Wilcox, GCTA

January - June 2009 Sales StatisticsSingle-Family Homes / Metro Phoenix

Median Home Price Avg. Days on Market

January $130,000 112February $127,900 121March $120,000 125April $118,000 120May $121,500 117June $130,000 113Source: ARMLS. Information is deemed reliable but not guaranteed.

Residential Home SalesMetropolitan Phoenix

Source: ARMLS. Information is deemed reliable but not guaranteed.

Jan. 09 Feb. 09 Mar. 09 Apr. 09 May 09 Jun. 09

4,742 5,476 7,628 8,552 9,290 9,348

Month’s Supply in Housing Inventory2009

Jan. Feb. Mar. Apr. May Jun.Metro Phoenix Overall 9.25 6.75 5.25 3.5 2.75 2.75Phoenix 7.25 5.25 4.0 2.5 2.25 2.25West Valley 8.25 6.0 4.25 2.5 2.0 2.0 NE Valley 21.75 17.5 16.0 11.5 8.0 7.25SE Valley 8.25 6.25 4.75 3.0 2.25 2.5Scottsdale $1 Million + 60.0 44.0 39.25 30.0 24.25 21.5Scottsdale $1 Million - 15.5 12.25 11.25 7.5 5.25 4.75Paradise Valley 28.0 37.5 82.5 34.5 22.0 19.25Source: Calculated from closed sales and active listings reported in ARMLS.

NATE MARTINEZRE/MAX Professionals

7111 W. Bell Road, Suite 101 • Glendale, AZ 85308

Cell: 602.430.5226NateM@remax.net

www.NatesHomes.comwww.NatesLuxuryHomes.com

Office: 602.942.7000 | Toll Free: 800.284.1158Fax: 602.532.7352

A TRUSTED ADVISOR IN REAL ESTATE

I am pleased to present this valuable synopsis of our Valley’s economic and housing sectors. In a softened market such as the one we’re experiencing right now, it’s crucial to stay apprised of the latest market data and market trends, and to have an understanding of how to effectively navigate the sale or purchase of real estate. My team and I conduct market research on a daily basis and are at your service as your trusted advisor. Through our extensive research, we know what homes in any given neighborhood are selling for and where to price your home so that it SELLS. Additionally, our vast knowledge of inventory and sales data allows us to find and negotiate an excellent purchase for our numerous buyer clients. Let’s discuss how I may help you. Use my industry experience and expertise to guide you in the right direction. Call me today!

Nate has been selling real estate in the Valley of the Sun for almost a quarter of a century. His designations include ABR, CRS, GRI, CRP, e-PRO and Certified Luxury Home Specialist. His team consists of three full-time Buyer Specialists and three full-time Administrative Assistants. Nate’s team is very proud to be a sponsor of the Children’s Miracle Network, where a portion of each commission earned is donated to the local Phoenix Children’s Hospital.

2009 January - June Statistics By City

2009 January - June Average Sales Price By City

City Number New Days on List/Sell of Sales Listings Market Price Ratio

Surprise ............................... 1,999 ............... 2,804 .............. 108 ..................98%

Glendale ............................ 2,296 ............... 3,298 .............. 114 ..................97%

Phoenix ............................. 11,238 ............. 16,323 .............. 116 ..................96%

Mesa ................................... 3,138 ............... 4,976 .............. 116 ..................96%

Peoria ................................. 1,464 ............... 2,403 .............. 125 ..................97%

Litchfield Park ........................ 390 .................. 582 .............. 134 ..................97%

Gilbert ................................. 2,010 ............... 3,465 .............. 116 ..................97%

Tempe .................................... 425 .................. 851 .............. 117 ..................94%

Chandler ............................ 1,659 ............... 2,832 .............. 115 ..................96%

Cave Creek .......................... 237 .................. 615 .............. 154 ..................94%

Fountain Hills ......................... 226 .................. 255 .............. 191 ..................91%

Scottsdale .......................... 1,683 ............... 4,404 .............. 169 ..................92%

Carefree .................................. 24 .................. 121 .............. 211 ..................91%

Paradise Valley ....................... 95 .................. 430 .............. 265 ..................87%

Anthem.................................. 309 .................. 488 .............. 118 ..................97%

Statistics gathered from ARMLS. All information deemed reliable but not guaranteed.(Single-Family Residences)

Statistics gathered from ARMLS. All information deemed reliable but not guaranteed.(Single-Family Residences)

Scottsdale: $567,147

Gilbert: $226,160

Mesa: $159,694

Chandler: $237,766

Peoria: $190,949

Glendale: $126,024

Carefree: $720,204

Cave Creek: $365,692

Phoenix: $116,750

Litchfield Park: $207,062

Paradise Valley: $1,695,616

Fountain Hills: $517,820

Tempe: $222,620

If your home is currently listed, this is not a solicitation for that listing.Each office is independently owned and operated.

Produced by Desert Lifestyle Publishing • 480.460.0996

The Great Recession Where Do We Stand?

The Local Housing Market Who’s Buying? What’s Selling? Are You Missing Out?

Metro Phoenix Declared A “Best City To Buy A Home”

M E T R O P H O E N I X

M I D - Y E A R U P D A T E