Greetings,
We have the third quarter of 2009 already! This is a wonderful time to be a buyer. We continue to have many savvy buyers investing in our local real estate market. Links to my Third quarter sales reports (with all floorplans Listed, asking v.s. sold prices) are available to download as well as my new report "Rick's Sun City Deals and Steals" . I will point out some of our super values in the area. See links below.
The quantity of sales are stable this quarter. We attribute this to our terrific values, diverse market and sunny climate in the desert. Our market has changed like most markets, but we continue to have healthy quantity of sales.
I was very surprised of some of our area sellers this quarter. In several instances we made offers for our serious buyer clients, sellers would not even counter a reasonable offer. Sellers countered back at full price. The buyers in every case went on to find a property. It was stunning. We looked back and all but one property is still on the market. It is both the seller's and listing agent's responsibility to make deals work in this market. We much approach each deal with an open mind.
Desert-wide Sales. Our market is showing stability. 2009 third quarter sales showed 203 more family residences sold versus the second quarter 2009. Condo Sales for second quarter 2009 are up 216 over the first quarter of 2009. High end sales are down but improved over last quarter. The higher number of sales were in the low to mid range homes, and an increased sell off of foreclosure properties. (Desert Area Sales Statistics Detail)
Our Homes continue to sell fit the category of a either a foreclosure, reduced value or priced right on, paying close attention to recent sold prices. If a loan is involved the appraiser's are looking at the most recent comparable prices 90 days or sooner. Properties with very special features or upgrades will help a home get sold. The value of such upgrades are down from prior years. This is not a time for sellers to "test the market" to see if that one person may be out there waiting for their property.
Our Southern California Desert area continues to grow we have so much to offer the permanent homeowner, investors and second home owners. We see growth in full time residency, vacation market, our retirement community. We are seeing growth in retail and schools on the east side of the valley to support new construction. The area infrastructure continues to grow.
Information is Power. We are here to assist you and educate you about the market in the desert. We have placed links to more information on our web site. We hope will be helpful to you.
If you have any questions regarding Real Estate or if you would line to see a specific topic addressed in a future Jones' Market in a Minute Newsletter, I encourage you to contact us today. Your correspondence will receive my personal attention and a timely reply.
-- Rick --
Market Updates