Gold Canyon Arizona Blog

Gold Canyon Arizona Real Estate Stats – April 2012

benjaminteam — Sun, 06 May 2012 17:29:26 +0000

Residential home sales in the Gold Canyon Arizona area for April 2012 were down from March 2012 home sales numbers. However, the number of sales seems to be within the range that is typical for this time of year. This April’s sales are a bit less than a year ago - April 2011, but a bit more than two years ago - April 2010.

The average price per square foot of the homes sold for April 2012 was slightly higher than was the case for March 2012 and it was slightly higher than the averages for April 2011, but still showing less than the average price for the homes sold in April 2010. This pricing trend is similar with both non-distressed sales, as well as distressed** sales stats.

April 2012 – Real Estate Stats
Gold Canyon Arizona at a glance

Information is provided by Benjamin Realty LLC, your local Gold Canyon and East Phoenix Valley Realtors.

April 2012 home sales shows 44 homes sold. Of these 44 sales, 16 of them were “distressed” when the sale occurred.

Average price per square foot for sold homes in April 2012 was $112.07.

Average price of homes sold in Gold Canyon Arizona in April 2012 was $238,224.

Distressed properties – of the 44 homes sold in the Gold Canyon Arizona area in April 2012, there were 16 of the properties sold that were “distressed”***.

Average price per square foot for “distressed” homes sold in April 2012 was $87.04.

Number of homes on market in Gold Canyon Arizona during April 2012 – there were 286 homes on the MLS.

Based on 286 homes on the MLS, at the current rate of home sales this is an 7 month inventory of homes.

(** A “distressed” home means either a home is a “short-sale”or one that has foreclosed. A “traditional” sale means there is not a bank involved, such as a short-sale or foreclosure. A “traditional” sale is with human owners, not a financial institution. )

(This data is compiled from the Phoenix ARMLS for the time period
that is referenced. Data is deemed to be accurate, but not guaranteed.)

If you need real estate assistance, contact Bob and Carolin Benjamin at 480-201-3001. We work with both buyers and sellers.

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Gold Canyon Arizona Real Estate Stats-March 2012

benjaminteam — Tue, 10 Apr 2012 20:47:15 +0000

Residential home sales in the Gold Canyon Arizona area for March 2012 were up from February 2012 numbers. But same as we reported for last month, basically the increase is merely seasonal, as the number of homes sold during March 2012, was within a couple sales of being exactly the same overall number sold in both March 2011 and March 2010 as well.

In general, the sales were consistent with the seasonal time frame – same as the past two years, but the overall price continues to show it is losing ground.

March 2012 – Real Estate Stats
Gold Canyon Arizona at a glance

Information is provided by Benjamin Realty LLC, your local Gold Canyon and East Phoenix Valley Realtors.

March 2012 sales shows 67 homes sold. Of these 67 sales, 13 of them were “distressed” when the sale occurred.

Average price per square foot for sold homes in March 2012 was $110.79.

Average price of homes sold in Gold Canyon Arizona in March 2012 was $236,047.

Distressed properties – of the 67 homes sold in the Gold Canyon Arizona area in March 2012, there were 13 of the properties sold that were “distressed”***.

Average price per square foot for “distressed” homes sold in March 2012 was $86.75.

Number of homes on market in Gold Canyon Arizona during March 2012 – there were 313 homes on the MLS.

Based on 313 homes on the MLS, at the current rate of home sales this is an 5 month inventory of homes.

(This data is compiled from the Phoenix ARMLS for the time period
that is referenced. Data is deemed to be accurate, but not guaranteed.)

If you need real estate assistance, contact Bob and Carolin Benjamin at 480-201-3001. We work with both buyers and sellers.

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Gold Canyon Arizona Real Estate Stats-February 2012

benjaminteam — Thu, 15 Mar 2012 04:51:55 +0000

Residential home sales in the Gold Canyon Arizona area for February 2012 were up from January 2012 numbers. But basically the increase is merely seasonal, as the number of homes sold during February 2012, was exactly the same overall number sold in both February 2011 and February 2010 as well.

While the actual number of sales was the same, the price per square foot of the homes sold is down. So in general, the sales are consistent with the seasonal time frame – same as the past two years, but the overall price is still showing it is losing ground.

February 2012 – Real Estate Stats
Gold Canyon Arizona at a glance

Information is provided by Benjamin Realty LLC, your local Gold Canyon and East Phoenix Valley Realtors.

February 2012 sales shows 46 homes sold. Of these 46 sales, 14 of them were “distressed” when the sale occurred.

Average price per square foot for sold homes in February 2012 was $105.75 – down from January 2012’s sales price averages which were $108.98.

Average price of homes sold in Gold Canyon Arizona in February 2012 was $215,389, which was down from the January 2012 averages of $245,779.

Distressed properties – of the 46 homes sold in the Gold Canyon Arizona area in February 2012, there were 14 of the properties sold that were “distressed”***.

Average price per square foot for “distressed” homes sold in February 2012 was $77.47, down from the January 2012 average of $88.89.

Number of homes on market in Gold Canyon Arizona during February 2012 – there were 328 homes on the MLS. This is less than the number showing on the MLS in January 2012, which was 337.

Based on 337 homes on the MLS, at the current rate of home sales this is an 7 month inventory of homes.

(This data is compiled from the Phoenix ARMLS for the time period
that is referenced. Data is deemed to be accurate, but not guaranteed.)

If you need real estate assistance, contact Bob and Carolin Benjamin at 480-201-3001. We work with both buyers and sellers.

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Cash Investors Push Aside Arizona Home Buyers

benjaminteam — Mon, 12 Mar 2012 16:53:43 +0000

Arizona home buyers – it’s a frustrating time for some of you in the current market. Interest rates are at all time lows and house prices are low. So what is one of the issues that is keeping a lot of folks from being able to buy a home?

This week’s Arizona Republic newspaper ran an article that covers a lot of the issues. Low inventory to choose from, banks continuing to hold back foreclosed inventory and cash buyer / investors who have an edge to make a deal happen quickly over a buyer who needs a loan.

Here is a link to the news article.

If you are a buyer looking for a home, prepare yourself for some frustration in the current buying process. Plan that there may be bidding wars on “good” properties. And plan you will likely need to pay more to ultimately get a home than the listed price in many cases.

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Where Are All The Foreclosures in the Phoenix Market

benjaminteam — Tue, 28 Feb 2012 20:16:43 +0000

Where have all the foreclosures in the Phoenix real estate market gone?

Not all that long ago, back in 2007, there were more than 25,000+ REO listings in the Valley. Last year at this time there were about 10,000+ REO listings in the valley. Today in 2012 there are only about 1,500 REO listings in the valley. Foreclosure inventory on the market is disappearing. But wait, does this mean the market is turning around? No, not likely any time soon.

There are many foreclosures – or homes in some stage of becoming foreclosures all over the area. There are still owners in home, after home, after home who are not paying their mortgage payments. Some of these owners have not made a payment in two or three years – seriously! The banks are still holding onto a “shadow inventory” of thousands of homes – not releasing them to the market so they can be sold. In some areas there are many, many homes that have foreclosed and have been sitting empty for months and months – some years.

How long will it take for the banks to move the foreclosure inventory onto the market? How long before they get a grip on the volume of homes where owners are not paying their mortgage payments? Are the banks waiting for the fine tuning to be worked out with institutional investors to buy volumes of the foreclosures at a time and turn them into rentals?

Only time will tell. Stay tuned and watch and wait.

Give us a call if we can help you sell or buy. We look forward to helping you.

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Pinal County Residents Can Keep Track Of Valuables On Line

benjaminteam — Fri, 17 Feb 2012 22:01:29 +0000

Citizens of Gold Canyon and Pinal County can use Report It to store serial numbers, item descriptions, pictures, and scans of receipts so that items they own can be more easily identified in event of theft or loss. This record may also come in handy when reporting any loss to insurance providers.

Leads On Line is the provider of the Report It system. A recent press release by the Pinal County Sheriff’s Office reported that this online system works with police across the country to track and recover stolen property.

Within the past four months, detectives with the Pinal County Sheriff’s Office have utilized Leads On Line to help track and identify $10,146.80 worth of stolen property. To date, $9,398.40 has been recovered. Detectives have received 758 inquires using the online service and arrested five people.

The system allows detectives to search for the items using a variety of parameters, including item descriptions and serial numbers. When an item is sold to a pawn or secondhand shop, the product information is entered in the Leads On Line database and is immediately viewable by participating law enforcement agencies across the country.

Residents having any questions about this system or how the Pinal County Sheriff’s office is utilizing it should contact the Sheriff’s office at 520-866-5208

(As Disclosure we have no interests in the firms referenced and are not paid to reference their product.)

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Gold Canyon Arizona Real Estate Stats-January 2012

benjaminteam — Fri, 10 Feb 2012 17:47:32 +0000

Residential home sales in the Gold Canyon Arizona area for January 2012 were down from December 2011 numbers. Stats show numbers back down to the levels of the later months in 2011. Some larger-more-expensive homes sold in the time period and moved the price averages up a bit for the month. Nothing to indicate a new trend.

January 2012 – Real Estate Stats
Gold Canyon Arizona at a glance

Information is provided by Benjamin Realty LLC, your local Gold Canyon and East Phoenix Valley Realtors.

January 2012 sales shows 28 homes sold. Of these 28 sales, 5 of them were “distressed” when the sale occurred.

Average price per square foot for sold homes in January 2012 was $108.98 – up from December 2011’s sales price averages which were $96.77. (But remember this rise can be accounted for with the sale of more homes that were somewhat larger.)

Average price of homes sold in Gold Canyon Arizona in January 2012 was $245,779, which was up from the December 2011 averages of $194,063. (Again this is due to some larger home sales – not to be considered a trend.)

Distressed properties – of the 28 homes sold in the Gold Canyon Arizona area in January 2012, there were 5 of the properties sold that were “distressed”***. This much lower number of distressed sales from recent prior months should not be thought to indicate that the market is improving and that there are fewer “distressed” homes on the horizon. What has been happening at times is that homes foreclose and are picked up by investors, who then fix them up to make them more attractive for sale – then the homes are sold, but the sale at that time is not considered a “distressed sale”.

Average price per square foot for “distressed” homes sold in January 2012 was $88.89, up from the December 2011 average of $76.67.

Number of homes on market in Gold Canyon Arizona during January 2012 – there were 337 homes on the MLS. This is more than the number showing on the MLS in December 2011, which was 323.

Based on 323 homes on the MLS, at the current rate of home sales this is an 12 month inventory of homes.

(This data is compiled from the Phoenix ARMLS for the time period
that is referenced. Data is deemed to be accurate, but not guaranteed.)

If you need real estate assistance, contact Bob and Carolin Benjamin at 480-201-3001. We help both buyers and sellers.

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Fannie Mae To Allow Investors To Buy Foreclosed Homes In Bulk

benjaminteam — Wed, 08 Feb 2012 22:30:23 +0000

The real estate market continues to change. What it will end up meaning for the East Phoenix Arizona valley real estate market is anyone’s guess at this point.

One new development is that Fannie Mae is inviting private equity firms to become partners in the bulk sale of foreclosed homes, which will place foreclosures right back into the banks that triggered the foreclosure crisis. One has to wonder how this can be a good thing?

During the pilot program, Fannie Mae will offer pools of residential properties to investors, including rentals, vacant homes and properties that have defaulted on their mortgages, where some homeowners are still living in foreclosures.

The new initiative will allow investors to purchase pools of foreclosed properties. A requirement seems to be that they will rent the homes for an undetermined number of years. The program is intended to provide relief to neighborhoods that have been devastated by the foreclosure crisis.

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HARP Loans-Find Out If You Qualify

benjaminteam — Mon, 06 Feb 2012 22:58:09 +0000

In an effort to help stabilize the housing market, the government developed a program called HARP to help homeowner’s who either do not have enough equity for a traditional refinance, or who are having problems making payments on their current mortgages. (HARP is the acronym for the Home Affordable Refinance Program. )

In our current economy many homeowners have tried to refinance their mortgage but are not succeeding for many reasons. You may have heard about the existence of government programs aimed at helping home owners who cannot take advantage of low mortgage rates, because they don’t qualify to refinance their mortgage. This “Harp loan program” may be an opportunity for property owners with mortgages owned by either Fannie Mae or Freddie Mac.

The rules of the HARP and all of the other government programs seem to change their rules and criteria and are difficult to keep up with. And you should be aware that a number of the government programs for the housing market have been a lot of press and not much action. Also not all home owners will fall into the HARP guidelines nor be able to take advantage of this program. But it certainly may be worth your time to check it out and see.

If you want to explore if you would qualify for the HARP program, we work with a lender who is on top of this program — as well as other loan programs. Here is a link to his blog post along with a form you can fill in to request that he look at your particular situation and see if you can qualify.

When you fill out the form (link above), be sure to tell Eddie that Benjamin Realty LLC sent you over to talk with him.

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Arizona Pool Pump Law-Title 44-New Jan 2012 Regulations

benjaminteam — Thu, 02 Feb 2012 19:04:15 +0000

If you own an Arizona home with a swimming pool you’ll want to be aware that the Arizona Legislature recently passed Title 44 that requires new energy-efficiency standards for residential pool pumps, pool pump motors and portable electric spas. This new legislation went into effect January 1, 2012.

The new Arizona law doesn’t mean you have to run out and change your in-ground pool and spa motor immediately, but it does require any newly installed pumps that are at least one horsepower or greater to meet the new standards. Dual-speed pumps will be the minimum efficiency for pool pump installations moving forward, and inefficient single-speed pumps will no longer be allowed.

By requiring the change on all pool pumps over one horsepower or greater, the new regulation is thought to be something that will ultimately help homeowner’s save money over time.

Some pool experts say that single-speed pool pumps are fine if all you want to do is circulate the water in the pool but they don’t have enough speed to run a pool cleaner, waterfall or other electrical extras that need an occasional, bigger blast of energy.

If the pump has only has one speed, it’s running full-blast even when your pool cleaner and waterfall aren’t operating—with no option to dial back to a lower level of energy when all you need is to circulate the water—which is most of the time.

That’s a huge waste of energy, and it’s costing a pool owner about 80 percent more in electric bills than the owner should be paying.

While some critics of the new regulation complain that it will require consumers to purchase pricey upgrades in what is already a tight economy—at $1200 to $1400—it is thought that pool owners should recoup the cost within three years with the amount of money saved on yearly electricity bills.

It is said by some pool company professionals that after the first three years the pool owner will save money by going with a variable-speed model. Depending on how a pool owner adjusts their seasonal timer, they can go from paying $350 to $400 a year with a single-speed pump, down to $100 per year and some as low as $55 with a newer pool pump.

A pool pump can use more electricity than any other appliance in a person’s house except their air conditioner. Pool professionals say that many pools are equipped with pumps that are too big and use way more energy than the person needs to keep the water sparkling clean. The new regulation will ultimately help homeowner’s save money over time.

Pool professionals say that the best bet is the variable-speed pump. It is said that it can cut energy use by up to 80 percent compared with single-speed pumps.

To learn more about the new Arizona pool pump law and determine how to best handle your own pool pump needs, contact your the service professional who services your pool.

To read more about Title 44 here are links -

More information about the law regulating pool pumps can be found in Title 44, Chapter 9, Article 19, Section 44-1375 of the Arizona Revised Statutes:

Also SRP has a page dedicated to pool pumps that you may find helpful.

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