Video 67: Today we take a look at Tempe AZ zip code 85282 and the housing market for the past year. This Tempe AZ zip code is located between Broadway and Baseline and saw an jump in sales volume of over 10%, but a decrease in sales prices from an average of $217k to $165k. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 66: Today we take a look at Tempe AZ zip code 85281 and the housing market for the past year. 2008 to 2009 in Tempe’s 85281 saw the volume stay the same, but prices were way down. In 2008 there were 5 properties that sold for more than $995k in 85281, but in 2009 the highest price for a house was $520k. All of the units over $995k last year were condos down around the Tempe Town Lake, where this year that area saw almost no activity. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 65: 2009 and 2008 were drastically different years in the Tempe real estate market. In 2008 there were 2 houses in Tempe AZ that sold for under $75k, in 2009 there were 2 that sold for under $20k. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 63: Tempe AZ houses we up as far as sales in 2009 over 2008, but down in prices. So what was the most expensive house to sell in Tempe in 2009? This is the first of a series of year in review for the Tempe real estate market. Dean Ouellette explains in this video. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 62: Tempe AZ houses are selling for between 95% and 100% of list price right now. We always tell you to price your home right the first time, but why is it really important. Dean Ouellette explains in this video. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
Video 56: The numbers for the Tempe AZ real estate market were solid for November 2009. There were 128 houses sold in Tempe in the month of November, which is up from 59 in 2008 and only slightly down from the 136 sold in October of this year. Prices were up slightly this month from the previous month, but still the lowest number this year besides in October. The average price per square foot in the Tempe housing market was also the second lowest we have seen this year. Would love to hear your thoughts, you can leave a comment or e-mail me Dean Ouellette.
| Units sold | High Price | Low Price | Avg Price | DOM | $/sq foot | |
| Nov 2008 | 59 | $895,000 | $80,000 | $256,120 | 96 | $137.04 |
| Oct 2009 | 136 | $820,000 | $18,000 | $180,439 | 67 | $109.54 |
| Nov 2009 | 128 | $913,740 | $44,900 | $185,631 | 86 | $112.04 |
*DOM= Days on market
Video 28: Have prices hit the bottom in the Tempe and Phoenix real estate market? Depends who you ask, which means nobody probably knows for sure. Banks seem to be manipulating prices, and who can blame them. If you have an opinion that differs from mine you can leave a comment or e-mail me Dean Ouellette.
As of 8:30 this morning, the Tempe housing market is down to only 64 active foreclosure units on the market. The number of Tempe condos on the foreclosure market is down to only 7, and all of them are now under the $230,000 price point. There is another wave of foreclosures expected to hit the market in the coming month that should raise the number significantly, but for now, the market is competitive.
So who is buying up these properties and what does it tell us about the market? There are a lot of first-time home buyers on the market right now, but the driving force of this market seems to be investors. These are not the same investors we saw in 2005-2006 who would buy a house and flip in in a week or month, these are investors who understand the market conditions of today and plan on using the house for a rental.
The investors in today’s market are the investors who understood 2005 was not a great time to buy a house as a long term investment. These investors see today’s prices though and are looking to grab as many properties as possible for long-term investing.
What does that tell us about today’s Tempe and Phoenix housing market? If you are not looking to make a quick buck, but looking for a great investment opportunity for your next home, now may be the time to get out there and look. Follow the professionals.
Here is a list of the current Tempe condo foreclosures and single family foreclosures. You can also check out a complete list of Phoenix area foreclosures that are currently on the market and and search within those results.
