Chandler 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.
January 2011 Stats of Chandler, Gilbert and Mesa AZ homes for sale
January 2011 Sales Summary for Chandler, Gilbert and Mesa homes AZ
Phoenix Real Estate MLS Sales Update for January 2011
In January 2011 there were 6609 sales of all Phoenix residential property types reported in the Arizona MLS with:
48% – Foreclosures
22% – Short Sales
30% – Other sales including Investor Fix and Flips and Traditional sales
70% of January 2011 metro Phoenix sales were distressed sales (foreclosures or short sales) and most of these previous homeowners are ineligible to qualify for a home loan to purchase a home for 2-7 years. Therefore, these homeowners are looking for homes to rent and this explains the red hot Phoenix rental housing market.
Phoenix investors are trying to meet the rental housing demand by buying distressed properties and fixing them up to rent out to displaced former homeowners.
But this is an excellent time for homeowners to take advantage of the low housing prices to upgrade into their dream home that seemed impossibly out of reach just a few years ago. With the strong rental demand, they can rent out their current home and wait for the real estate market to turnaround and then sell.
While the average January 2011 price of Gilbert AZ homes for sale was – 0.3% lower than December 2010, the average price of Mesa homes for sale AZ was up + 0.7%.
The average January 2011 price of Chandler AZ homes for sale was – 3.6% lower, while homes in Phoenix AZ were – 6% lower and Scottsdale homes for sale were –16% lower.
Tempe AZ homes for sale had a very good month with the average January 2011 sales prices up + 10%, as compared to the December 2010.
Scottsdale had the lowest percentage of distressed home sales at 51%, followed by Tempe at 66%, Mesa at 67%, Chandler and Gilbert at 71% and finally Phoenix with 77% of its total January 2011 sales being either a Foreclosure or Short Sale.
The good news is the January 2011 Median Sales Price remained the same as December 2010 at $110,000 – the lowest Phoenix area Median Sales Price in over a decade.
If you are one of the fortunate ones able to buy a home in any of the cities in the Phoenix area, you will be getting an unbelievable housing value!
Average January 2011 Sales Price for Single Family Detached and Patio Homes by city in the metro Phoenix area are:
Avg. Units Avg. % of
Sales Price Sold List Price
Chandler AZ homes for sale $195,841 277 96
Gilbert AZ homes for sale $192,715 334 98
Mesa AZ homes for sale $145,601 506 96
Phoenix homes for sale $120,695 1,367 96
Scottsdale homes for sale $447,145 352 94
Tempe AZ homes for sale $175,328 69 95
Go to Phoenix real estate market statistics for a comprehensive review of what is happening in Phoenix real estate
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
New Home Loan Waiting Period After A Short Sale or Foreclosure
Life after Your Phoenix home has been foreclosed
When distressed owners of homes in Chandler, Gilbert, Mesa and Queen Creek are unable to make their Phoenix house payment and lose their home through Deed-in-Lieu of Foreclosure, Pre-foreclosure, Short Sale, Foreclosure or Bankruptcy, they are barred from being able to finance the purchase of another home for a period of time. The chart below shows the current waiting periods to be able to get a conventional or FHA loan:
| FINANCE WAITING PERIOD: | CONVENTIONAL LOAN | FHA LOAN | |||||||
| Deed-in-Lieu of Foreclosure, | 2 Years – 20% down payment | 3 Years from completion | |||||||
| Pre-foreclosure or Short Sale | 4 Years – 10% down payment | ** | No waiting Period | ||||||
| Foreclosure Sale | 5 Years from completion | 3 Years from completion | |||||||
| ** | 3 Years from completion | ||||||||
| Bankruptcy – except Chapter 13 | 4 Years from discharge | 2 Years from discharge | |||||||
| ** | 2 Years from discharge | ||||||||
| Bankruptcy – Chapter 13 | 2 Years from discharge – 4 Years from dismissal | 1 Year of on-time payments | |||||||
| ** | 2 Years from discharge – 2 Years from dismissal | ||||||||
| NOTE: | |||||||||
| ** with Extenuating Circumstances | |||||||||
Your extenuating circumstances that resulted in you losing your Phoenix home may shorten the period before you qualify for a new home loan. You just have work your way through your financial issues in the meantime. You have suffered a setback, but you get back on track stronger than before.
In the meantime rebuild your credit by paying bills and rent on time, paying off debt, working with a lender to clean up your credit report, save for a down payment and keep up-to-date on great opportunities to buy homes for sale in Chandler, Gilbert, Mesa and Queen Creek AZ.
These waiting periods have been reviewed and revised several times and you need to be checking back for the latest rulings. As lending institutions get their balance sheets in order, they will be able to make more home loans than they can today.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.Homes for sale in Chandler AZ eligible for 100% Financing
USDA no longer underwrites loans in Chandler and Gilbert, Arizona!
Looking to buy one of the homes for sale in Chandler AZ as your primary residence, but don’t have money for a down payment? You may be eligible for a USDA home loan to buy a home in Chandler with no money down! This little-known government loan program provides 100% home purchase financing plus you may also finance a one-time 2% upfront mortgage insurance fee with no monthly MIP costs – that’s 102% financing folks!
Some additional details about USDA:
- 30 year fixed rate loan with up to 6% seller contribution or 100% gift to pay all your closing costs and pre-paids, except reserves (typically 2 months of homeowners insurance and property taxes).
- US citizens, Permanent Residents and Non-permanent Residents are eligible
- Primary residence only
- Minimum FICO score is 620
- 3 years from bank discharge to be eligible
- No mortgage insurance (one-time guarantee fee tacked onto and financed into the loan)
- Income limitations are 115% of the Area Median Income (AMI)
Surprisingly, USDA rural home loan program includes some homes in Chandler AZ and Gilbert AZ and all of areas of Queen Creek, San Tan Valley, Florence and Gold Canyon, AZ.
Some of the neighborhoods eligible for this loan program are Chandler homes in Springfield Lakes, Sun Groves, Quail Springs, Old Stone Ranch and many more quality subdivisions. At the time of this posting there were 39 Chandler homes that could be eligible for Zero Down USDA financing.
Email me at samelam3@gmail.com to request a current list of homes within USDA service area and a list of lenders who can pre-qualify you for a USDA loan.
For more information go to Chandler homes for sale AZ.
Sam Elam - Associate Broker specializing in Chandler, Gilbert, Mesa and Phoenix real estate and homes for sale AZ.Categories
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