Chandler AZ homes for sale
Arizona Shadow Inventory Low in Maricopa County
Arizona Shadow Inventory in Maricopa County is very low compared to the rest of the U.S.
Much has been written about the housing “shadow inventory” and there are a lot of theories about what it is and where it can be found. I concur with those who think the lenders are able to identify Shadow Inventory because they are aware of those who are not paying their house payment or are late or struggling to make their house payment on time and are more likely to go into default on their home loan, if they are not there already. The map below will show you where the shadow inventory can be found. And I am happy to report Maricopa County in Arizona has very little. Eager home buyers have been buying distressed homes for sale in Chandler, Gilbert, Mesa and Phoenix AZ causing our shadow inventory to shrink dramatically.
Low Shadow Inventory in Maricopa County means it is a great time to buy Phoenix AZ homes
While I haven’t understood why lenders continue to discount the listings they are putting on the market when we have so much buyer demand, I have to acknowledge they are successful at getting troubled properties off the books and sold to new home buyers who can afford to own a home. (If you can’t identify Maricopa County in Arizona, just look for the very light color in the Arizona Map. Pinal County has a more significant issue with 36 – 48 months supply.)
Phoenix MLS Listings chart below shows the # of ACTIVE listings as of December 1, 2011, # of November 2011 CLOSED transactions, Months of Inventory per City (with 6 months of inventory being a balanced market) and the percentage of the total # of November 2011 closed “distressed” transactions that were either Lender Owned or Short Sale Closed listings.
| Single Family Detached Homes | Listings 12/1/11 | Closed during November 2011 | Months of Inventory | Distressed as a % of Closed |
|
Arizona MLS-wide |
15194 | 6085 | 2.5 | 62 |
| 2727 | 1557 | 1.75 |
67 |
|
| 647 | 324 | 2.0 |
60 |
|
| 653 | 385 | 1.7 |
59 |
|
| 1031 | 564 | 1.8 |
63 |
|
| 1780 | 325 | 5.5 |
39 |
|
| 197 | 100 | 2 |
49 |
There has never been a better time to be in the market for buying homes for sale in Chandler, Gilbert, Mesa, Ahwatukee, Phoenix, Tempe and Scottsdale AZ! Mortgage loan rates are unbelievably low and prices are back to where they were at the beginning of the last decade.
First time home buyers can own for less than they are paying in rent and move up buyers can get into beautiful homes in great neighborhoods in Chandler, Gilbert, Mesa, Phoenix, Tempe and Scottsdale AZ that would not have been even remotely possible just 5 years ago.
Contact me today to schedule an appointment to discuss all the opportunities available to the wise home buyer looking for a very nice place to live at a very affordable price in today’s real estate market with depressed prices.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.
Arizona Letter Grades for Schools
- AZ Schools Graded
Arizona Department of Education has converted to an easy to understand school grading system of A through F to score the academic achievement levels of all Arizona schools for the 2010 – 2011 school year:
A – Excellent School Academic Achievement
B – Above Average School Academic Achievement
C – Average School Academic Achievement
D – Below Average School Academic Achievement
F - Below Average School Academic Achievement for 3 consecutive years. “F” schools are placed under the school improvement process by the Arizona Department of Education so that they can receive extra support and resources.
Students within the city limits of Chandler, Gilbert, Mesa and Scottsdale will attend schools in one of three or four school districts serving their municipality. Tempe students will attend one of two elementary school districts (Kyrene or Tempe) and then go on to attend a school in the Tempe High School district.
For your convenience a quick list containing the letter grades for Maricopa and Pinal County schools includes the multitude of Phoenix school districts.
An earlier post containing Arizona School Achievement Levels for the 2008-2009 and 2009 – 2010 school years has been updated to include 2010 – 2011 school year data to show the effect of more stringent testing standards mandated by “No Child Left Behind” federal legislation. (Previous Achievement Levels of Excellent and Highly Performing are now A and B letter grades, respectively).
Buyers of Chandler real estate for sale, Gilbert homes AZ, Houses for sale in Mesa AZ, Scottsdale condos and Phoenix homes for sale located in highly performing schools districts will be rewarded by their homes having a higher resale value when they decide to sell.
Visit the Arizona Department of Education website to see the raw data drawn upon for this post.
Contact Sam Elam or call 480.213.1799 when you want an associate broker with 21 years of buyer representation experience who offers you the client services you will need to locate and successfully purchase your dream home.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.FHA loan costs to buy Phoenix Homes for Sale Rise
Homes for sale in Chandler, Gilbert and Mesa AZ are popular
FHA Loan Costs Increase – But best loan for many Phoenix Home Buyers
As of 4/18/2011 FHA loan costs are going to be higher because FHA has increased the monthly Mortgage Insurance Premium .25% to 1.15% of the outstanding loan balance divided by 12. The Up Front Mortgage Insurance Premium(UFMIP) had been reduced to 1% 0f the loan amount to help “cash strapped” buyers qualify and remains unchanged. Since many home buyers finance the UFMIP, the initial loan balance can be computed by increasing the principal loan amount 1% after deducting the 3.5% minimum down payment for the examples below.
February 2011 Average Sales Price by City:
Chandler Homes for sale AZ sold for $197,993 and the FHA monthly MIP cost will increase $40.16 to $184.75.
Gilbert Homes for sale AZ sold for $189,113 and the FHA monthly MIP cost will increase $38.02 to $176.64
Mesa Homes for sale AZ sold for$139,072 and the FHA monthly MIP cost will increase $28.24 to $129.90
Phoenix homes for sale sold 125,313 and the FHA monthly MIP cost will increase $25.20 to $117.05.
Tempe homes for sale sold for $164,821 and the FHA monthly MIP cost will increase $33.47 to $153.95.
Scottsdale homes for sale AZ sold for $459,695 and that is well above the maximum FHA loan amount. Therefore a conventional loan would be more appropriate.
As the loan is paid down, the MMIP will continue to decrease until the remaining loan balance is 78% of the original loan balance. At that time you may request the MMIP payments be terminated, providing you have owned the home at least 5 years.
While everyone would prefer not pay more to own a home, FHA MMIP is tax deductible.
Contact Sam Elam (480.213.1799) to help you purchase one of the homes for sale in Chandler, Gilbert, Mesa, East Phoenix, Scottsdale or Queen Creek. Rates remain low, but there is a lot of competition for the best homes. Don’t miss out. I am an Associate Broker with 21 years of buyer representation experience and I look forward to working with you soon.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.Supply of Chandler homes for sale quickly decreasing
Home for sale in Chandler
Sales of Chandler homes for sale Increase
Chandler real estate for sale shows positive signs of recovery. Sales for first quarter outpace the two previous years as inventory drops from 1,724 homes available for sale on 12/24/2010 to 1,591 homes on 3/24/2011. These sales gains occurred without government incentive programs to induce buyers to purchase a home, as there had been the two previous years.The current 2.8 month supply of homes in Chandler as of 3/31/2011 reflects high buyer demand and is slightly lower than the overall 3 month supply of Metro Phoenix homes.
Over the last 9 months the average sale prices for Chandler homes for sale AZ declined 13.8% from $235,084 in July 2010 to $202,601 at the end of March 2011.The lower home prices and new job creation has brought more prospective buyers into the market.
Are you looking for a Chandler home for sale to move into or a Chandler investment property to rent? This is an excellent time to move up to your Chandler dream home or buy a Chandler rental property.
Investors will find Chandler rental homes remain in short supply as former homeowners, who lost their Chandler homes through foreclosure or short sale and, therefore, barred from qualifying for a home loan, scramble to find a suitable property to rent.
Chandler has been seeing a lot of housing demand this year as Intel, Orbital Sciences Corp. and other technology companies create new high tech jobs. Chandler’s reputation for having good schools, beautiful and desirable Master planned subdivisions, an extensive network of parks and recreation centers, lots of shopping and entertainment, low crime and a friendly community that welcomes new residents to all makes it a top choice for home buyers.
Mortgage rates under 5%, stabilizing home prices and a sufficient inventory of Chandler real estate for sale offering a wide variety of Chandler homes to choose from makes this your best opportunity to own your own Chandler home. Check out Chandler homes for sale AZ now and beat the spring rush.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.Chandler AZ New $5B Intel Fabrication Facility
Chandler AZ Gets a New $5 billion Intel facility to be built and completed by 2013
Chandler High Tech jobs create demand for Chandler AZ homes for sale
Intel Corp. recently began a multi-billion dollar upgrade of their two existing Chandler Arizona 32 nanometer chip facilities to be able to build the next generation 22 nanometer chips.
To help convince Intel Corp to expand in Arizona and build their new $5 billion generation-after-next fabrication facility at their Chandler campus, the State of Arizona granted Intel Corp. foreign-trade-zone status exempting sales tax on 100% of sales occurring outside of Arizona.
Intel will begin construction of the new Chandler plant to fabricate the generation after next 14 nanometer chips in the summer of 2011 with completion scheduled in 2013.
The project will bring thousands of construction and factory jobs when construction begins this summer, officials said. It also will create more of the higher-wage, higher-skill positions needed in a state still reeling from job losses incurred in the recession. More Intel high tech jobs will increase demand for Chandler real estate and homes for sale AZ in the adjoining areas of Gilbert, Mesa and Tempe.
Intel currently employs 9,700 employees mostly in the Chandler AZ and the new plant will add 1,000 new jobs. During the construction phase beginning in the summer 2011, will create 14,000 temporary construction jobs, including spin-off jobs created by construction activity and have a strong positive economic impact on the local economy.
When the facility opens in 2013, about 1,000 engineering, manufacturing and fabrication people will be needed to run an operation that will be the most advanced, high-volume, semiconductor-manufacturing facility in the world.
Intel Corp., the world’s leading chip maker, is expanding its factory network to meet increasing demand for faster and smaller integrated circuits for smart phones, computers and networks. It is constantly looking to invest in technology and facilities that allow it to make smaller, faster, more-powerful products. And this expansion ensures the Chandler Arizona Intel facility will be at the leading edge of advanced semiconductor technology and an important contributor to the overall strength of Chandler and metro Phoenix economy.
Twenty prestigious chip and semiconductor devices manufacturers in Chandler, Arizona area include Freescale, MicroChip, Kokusai Semiconductor, Amcor, Maxim, Southwest Semiconductor, Ward Technologies and more.
Job expansion in Chandler will mean strong demand for apartments, condos and homes for sale in Chandler AZ and vicinity.
Read more: http://bit.ly/gyA7KW
Intel Advanced chip fabrication facility at the Chandler Campus
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