Team Members: Ryan Wilson Cody Woods Nate Morefield Mike Kurvach Tri Better Triathlon Shoe.
Nate Martinez Team - nateshomes.com Martinez Team Newsletter January... · Nate Martinez Team 7111...
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Nate Martinez Team 7111 W Bell Rd Suite 101. Glendale, AZ 85308 O: 602.942.7000 | TF: 800.284.1158 January 2014 ONE OF ARIZONA’S NATURAL RESOURCES Your Trusted Real Estate Professional, Nate. With the end of 2013 behind us, I thought it would be a great opportunity to take a look at the housing market and better yet, what we can expect to see happen in the next twelve months. Home price growth was robust in 2013 and com- pared to 2012 we have seen a national increase of 11.3 per- cent. This data was provided by the National Association of REALTORS in a research study they conducted in the fourth quarter of 2013. Important data for you to know, as it is has pulled many homeown- ers out of danger due to underwater mortgage balances, and put others into a positive equity position. Other important highlights from 2013 include a growing sup- ply of available inventory, which is great news for buyers who had previously been beat out by multiple offers. Additional, we have seen a decrease in cash transactions, which indi- cates a shift in the type of buyer in our market place. The in- vestor purchases have slowed giving opportunity to the traditional homebuyer to gain a market share (up from 61 percent to 78 percent). Short sale transactions have dropped dramatically. As prop- erty values rise, there are less and less homeowners who need short sale assistance. Foreclosure transactions are below what we would consider a normal market share and loan delinquencies are at normal levels for our market. Now, let’s take a look at the different areas of the Valley: Northeast Valley: Pending sales rose by 4 percent and ac- tive listings rose by 3 percent. Because of this low sales rate, the northeast valley market now holds 8.1 months’ inventory of supply, the highest level since March 2011. Southeast Valley: Current supply of homes on the market is up from 3.4 last month to 4.1. West Valley: Supply continues to rise, up from 3.5 months to 4.5 months at the beginning of December. The average dol- lar-per-square foot price increased by 1 percent and the av- erage dollar-per-square foot price for pending sales rose by 2 percent. Central Valley: Pending sales are still weak, down 36% from last year however the median sales price advanced 0.6 per- cent. Today there are just under 24,000 active homes on the mar- ket in Maricopa County, which is a positive change from this time last year – this number is down slightly from December when inventory was over 24,000 active homes. With a few more homes on the market for sale, traditional buyers are able to make purchases without the fear of multiple offers. There are 2,479 homes under contract with contingencies (UCB) and 5,438 homes currently sale pending. This is the lowest sale pending number we’ve seen since the dark days of December 2007, however, the average sales price is up by 21.31 percent from this time last year. With the increase of inventory comes a slight increase in the time it takes a home to sell. We are seeing the average at around 36 days on the mar- ket. The result of more inventory and a little longer time on the market has been an overdue stabilization in the housing economy. These are welcomed changes, which have cre- ated a refreshing enthusiasm in our market. It’s a New Year… a new market and a great time to own a piece of the Ameri- can Dream. Are you ready to make a move? Give me a call today. Nate Enthusiasm
Transcript of Nate Martinez Team - nateshomes.com Martinez Team Newsletter January... · Nate Martinez Team 7111...
Nate Martinez Team
7111 W Bell Rd Suite 101. Glendale, AZ 85308O: 602.942 .7000 | TF: 800 .284 .1158
January 2014ONE OF ARIZONA’S NATURAL RESOURCES
Your Trusted Real Estate Professional,
Nate.
With the end of 2013 behind us, I thought it would be a great
opportunity to take a look at the housing market and better
yet, what we can expect to see happen in the next twelve
months. Home price growth was robust in 2013 and com-
pared to 2012 we have seen a national increase of 11.3 per-
cent. This data was provided by the National Association of
REALTORS in a research
study they conducted in
the fourth quarter of
2013. Important data for
you to know, as it is has
pulled many homeown-
ers out of danger due to
underwater mortgage
balances, and put others
into a positive equity position.
Other important highlights from 2013 include a growing sup-
ply of available inventory, which is great news for buyers who
had previously been beat out by multiple offers. Additional,
we have seen a decrease in cash transactions, which indi-
cates a shift in the type of buyer in our market place. The in-
vestor purchases have slowed giving opportunity to the
traditional homebuyer to gain a market share (up from 61
percent to 78 percent).
Short sale transactions have dropped dramatically. As prop-
erty values rise, there are less and less homeowners who
need short sale assistance. Foreclosure transactions are
below what we would consider a normal market share and
loan delinquencies are at normal levels for our market. Now,
let’s take a look at the different areas of the Valley:
Northeast Valley: Pending sales rose by 4 percent and ac-
tive listings rose by 3 percent. Because of this low sales rate,
the northeast valley market now holds 8.1 months’ inventory
of supply, the highest level since March 2011.
Southeast Valley: Current supply of homes on the market is
up from 3.4 last month to 4.1.
West Valley: Supply continues to rise, up from 3.5 months to
4.5 months at the beginning of December. The average dol-
lar-per-square foot price increased by 1 percent and the av-
erage dollar-per-square foot price for pending sales rose by
2 percent.
Central Valley: Pending sales are still weak, down 36% from
last year however the median sales price advanced 0.6 per-
cent.
Today there are just under 24,000 active homes on the mar-
ket in Maricopa County, which is a positive change from this
time last year – this number is down slightly from December
when inventory was over 24,000 active homes. With a few
more homes on the market for sale, traditional buyers are
able to make purchases without the fear of multiple offers.
There are 2,479 homes under contract with contingencies
(UCB) and 5,438 homes currently sale pending. This is the
lowest sale pending number we’ve seen since the dark days
of December 2007, however, the average sales price is up
by 21.31 percent from this time last year. With the increase of
inventory comes a slight increase in the time it takes a home
to sell.
We are seeing the average at around 36 days on the mar-
ket. The result of more inventory and a little longer time on
the market has been an overdue stabilization in the housing
economy. These are welcomed changes, which have cre-
ated a refreshing enthusiasm in our market. It’s a New Year…
a new market and a great time to own a piece of the Ameri-
can Dream. Are you ready to make a move? Give me a call
today. Nate
Enthusiasm
For every home we sell, a donation will be made to the Children’s Miracle Network on behalf of, and in the name of, the Buyer or Seller!
address city bed bath pool priceaddress city bed bath pool price
address city bed bath sq.ft.
5217 South 110th Drive Tolleson 3 2 145624828 North 39th Avenue Glendale 4 2.5 260212302 North 86th Lane Peoria 4 1.75 13974137 W Campo Bello Dr Glendale 3 2 151615443 W Canterbury Dr Surprise 3 2.5 21716225 West Corrine Drive Glendale 4 2 199218046 West Enoch Drive Surprise 4 2.5 15845412 W Fallen Leaf Lane Glendale 5 3 323314542 W Morning Star Tr Surprise 3 3 241012433 West Toreador Drive Sun City West 3 2 23155222 West Wescott Drive Glendale 3 2 1307
8628 East Oak Street Mesa 4 3 5457515 E Quartz Rock Rd Phoenix 4 5 5238
17338 N Del Webb Blvd Sun City 2 1.75 NO $79,9009923 W La Jolla Circle Sun City 2 2 NO $81,4007131 W Mulberry Drive Phoenix 3 2 NO $95,0004831 W Julie Drive Glendale 3 2 NO $144,9008794 W Shaw Butte Drive Peoria 3 2 YES $150,0004424 W Yucca St Glendale 3 1.75 YES $169,900 8642 W Fargo Drive Peoria 4 2.5 YES $185,0003038 W Silver Sage Lane Phoenix 4 2 NO $199,00018601 N 68th Avenue Glendale 3 2 NO $214,9005211 W Pontiac Glendale 3 2 NO $219,9004020 W Buckskin Trail Phoenix 3 2 NO $224,9005031 W Taro Drive Glendale 4 3 NO $224,90014229 W Gelding Drive Surprise 6 3.5 YES $239,900 5310 W Pontiac Drive Glendale 3 2 NO $250,0008154 W Beaubien Drive Peoria 3 2.5 YES $292,900 5958 W Melinda Lane Glendale 3 2 NO $299,90021728 N 81st Lane Peoria 6 3 NO $349,0006315 W El Cortez Place Phoenix 4 3 YES $425,00027550 N 86th Lane Peoria 3 2.5 NO $460,00033304 N 12th Street Phoenix 4 3 NO $629,00012806 W Oyer Lane Peoria 4 4.5 YES $669,000
6588 W Willow Ave Glendale 6 4.5 YES $1,500,00024226 N 63rd Dr Glendale 4 4 YES $2,000,000
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1/01 Brian DimasGreg MilroyGeorge Pacheco Jr.Ethan MauriceBrigitte Van WegbergThomas BeachJoanne Bateman
1/02 Dave GreveEd ParadineMatthew FrickEarla Lennox
1/03 James DeckerDanielle De MossStephanie Gregg
1/04 Heidi ZukasSue McPheeLinda ClambellaVictor EinfeldtRobert ScutariTeressa PartridgeJames Hobin
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1/06 Jim DrewLorenzo EspinozaWendy ReserBryan Franklin
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Scott RobinsonSteven Volckmann
1/08 Walter EliasMely RobayoEmilio GalindoLuke UpdikeRod StevensDennis MichieCharles RiggConner LaPorteDorothy Thornhill
1/09 Bruce HaplinErika MauriceCornelia TrufinJudy MillerBrian Fratus
1/10 Brenda BlueGuy HeardTina Neisch
1/11 Dorothy Dew
Alisha HolmanWendy ChenKevin BurkCheryl AddabboSalina CallesLisa DuongMercedes RedderRobert BurtBrandi Arthurs
1/12 Felicity BarrettAshlyn Anne FranklinJoy McCainCarol DavisLisa Spencer
1/13 Gerald GilvaLaurel MillerAshley BurrolaDavid MeyerAdrienne PicassoTim Woods
1/14 Martin YanezKendra MillerCam KishNeil Fleming
1/15 Ricky DelgadoNathan BurrolaSteve VallenariJoan RayBhakti Patel
1/17 Zoey Parker-KramerJacob ShouldersRyan EllisHeath LindquistCheri CoreCrystal Villegas
1/18 Micah FrenchJill Baldwin
1/19 Tracey HolmanRenee GonzalesCarol Hershberger
Eric JohnsonGary SemrowVirginia SemrowJoan Henderson
1/20 Caleb MaxsonJoey PlouffeKayla OgdenJohn StarkCindy AnnulliJack SmithJennifer Ausland
1/21 Madison RossiHeidi FelanKraig SternAmy MarroquinDavid FenstermakerCristi EricksonGizelle CanoDavid Alben
1/22 Gordon Wolfe
Lupe Calles1/23 Andy Banks
Robert DyerHarriet ElmoreCody Aranda
1/24 Lori WyattYash KhanchandaniTara SchwabErin Marsteller
1/25 Sara PetersonJanet JohnsonAurora StamperCathy Raty
1/26 Christina BruceJerry SkinnerRenee TaylorBev KratochvilBeverly O’TooleJim WyzaTrica MaxsonShannon Biddle
1/27 Kali SwichtenbergJonel ManciuLinda BristowLaura EisnerJeff Nielsen
1/28 Erika DelgadoJoAnn AchTim Kendrick
1/29 Brandon LoringVivian AranasArleste Pietrofeso
1/30 Zachery BlairPaul BetzNathan MoyaRyan BlairAaron TsubataJill Scalice
1/31 Alicia RojasAnthony ZazuetaJamie Chisholm
1/01 Mr. and Mrs. Robert Burt1/02 Mr. and Mrs. Michael Barrett1/04 Mr. and Mrs. Tom Wahl
Mr. and Mrs. James Nettles1/06 Mr. and Mrs. Greg Johnson1/07 Mr. and Mrs. Mike Hord1/09 Mr. and Mrs. Gerald Mallory
1/11 Mr. and Mrs. Scott Kelley1/14 Mr. and Mrs. Justin Kwak1/16 Mr. and Mrs. Jon Fritch1/18 Mr. and Mrs. Stephen LaCross1/21 Mr. and Mrs. Victor Carlson1/23 Mr. and Mrs. James Edwards1/30 Mr. and Mrs. Joseph Mitrick
Office: 602-773-1171
Cell: 602-989-2339
Fax: 855-321-7571
www.MarcyBriggs.com
15169 N. Scottsdale Rd., Suite 200 • Scottsdale, Arizona 85254
Marcy BriggsLicensed Loan Officer
Cobalt Mortgage Inc. NMLS 35653
NMLS# 206779 Arizona Mortgage Banker License #BK 0909801
Don’t see your name? Email or call us with your birthday!
The Nate Martinez Team would like to thank the following people
for the wonderful referrals they have sent our way.
What are Nate’s clients saying?Visit us at www.NatesHomes.com/Client-Reviews
602-942-7000 Call us TODAY!
• Sara Nickels, RE/MAX Excalibur• Linda Pereira, RE/MAX Mountain Properties• Terry Kiss & Joe Beeler, RE/MAX Alliance• Rebecca Boggs, RE/MAX Professionals
• Dave Ramsey, Dave Ramsey Show• Briggs Realty Group• Chad Piwinski
• Cari Payne
• Sara Nickels, RE/MAX Excalibur• Linda Pereira, RE/MAX Mountain Properties• Terry Kiss & Joe Beeler, RE/MAX Alliance• Rebecca Boggs, RE/MAX Professionals
• Dave Ramsey, Dave Ramsey Show• Briggs Realty Group• Chad Piwinski
• Cari Payne
A lot of clients/agents have been worried about “changes” in qualifying guidelines in 2014. How about this?
Earlier this year, the Consumer Financial Protection Bureau (CFPB)adopted a rule that implements the Ability-to-Repay and Qualified Mort-gage (ATR/QM) provisions of the Dodd-Frank Act. When the rule takeseffect in January 2014, it will replace existing credit guidelines regardinga customer's ability to repay a mortgage.
What does this mean? For Cobalt Mortgage it’s Business as Usual!
While the new rule affects most loan types, the impact on how CobaltMortgage verifies borrowers will be minimal. Since we were founded in2001, we’ve practiced responsible lending by helping to ensure that ourcustomers choose a loan and payments that are within their means. Wewill continue to verify income and debts using reasonably reliable third-party records. Borrowers will still need to provide full documentation tosupport their Ability-to-Repay. This could mean an additional pay stub,business tax return, Social Security Award Letter, etc.
Watch for more information regarding how the ATR/QM rule changesmay effect you, or call me today with any questions you have.
For more details about the new mortgage regulations, go towww.consumerfinance.gov
Do You Have Equity in Your Home? Open this newsletter to find out!
Statistics provided by research conducted by the National Association of REALTORS.
SummarY StatiSticS - maricopa county
Nov-13 Nov-12 % chg 2013 YtD 2012 YtD % chg
absorption rate 3.69 3.04 21.38 2.95 2.62 12.60
average List Price $382,808 $341,876 11.97 $294,104 $294,242 18.00
average Sale Price $236,713 $204,840 15.56 $232,005 $191,247 21.31
average cDOm 64 64 0.00 62 71 -12.68
Equity in 2013 by Purchase Year
(appreciation and ammoritization)$200,000
$150,000
$50,000
$0
-$50,000
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
9 years of
equity =
$28,114Fcst
