Welcome! Here You Can Find Great Real Estate Information on Gilbert, Queen Creek, Chandler, Mesa, Scottsdale, Apache Junction, Tempe & Surrounding Cities in the Phoenix, Arizona Area 

CONDITIONS  REPORT

Market Conditions for Gilbert, Arizona Reported by Bill & Cindy Flowers Team, Realtors, Associate Broker, CRS, ABR, B.S. in Marketing As of January 28, 2009. Current Market Rating: 1 1 2 3 4 5 Buyer's Seller's Current Price Trend: 1 1 2 3 4 5 Falling Rising Happy February to everyone! What an incredible opportunity we have in our marketplace for buyers especially with rates at a 50 year low and incredible prices on everything from bank-owned homes to builder specs and regular resale homes! Search the entire Phoenix MLS from our website at: www.FlowersGetResults.com. We specialize in the southeast valley cities of Gilbert, Chandler, Mesa, Tempe, Queen Creek, Gold Canyon and Apache Junction - please contact us for our "Best Buy" list that changes every week! Get FREE reports at www.BillandCindyFlowersTeam.com. Ask about our new search program - the Homebuyer Scouting Report. It offers state of the art search capabilities that you control yourself! As we head into February, our local market continues to change. For the Gilbert area specifically, the inventory of homes for sale is down 20% over a year ago's inventory! The number of homes under contract is up 56%, the number of homes sold is up 78%, the number of months of inventory on hand is down 54% and the number of days on market is down 35% at an average of only 58 days on market!!! Gilbert leads the other cities in the southeast valley in almost all categories previously described. Now is the best time to make a great real estate purchase! Homes under $350,000 are selling in record time and for very close to asking price if they are priced well. Priced well means that they are in alignment with the prices on the bank owned homes as they are setting the new value in every community. For the price range under $350,000, there is less than a 6 month supply of homes for sale in the southeast valley! It is widely accepted that a 3 to 6 month supply of homes for sale is considered a balanced market - neither a buyer nor seller's market. This information coupled with the fact that we are seeing multiple offers in this price range from investors and primary residence buyers alike, tells us that prices may be at or near the bottom in this price range! Even though homes priced above $350,000 are starting to sell, that price range is still considered a buyer's market. In fact, for homes priced above $600,000, there is approximately a 2 year supply of inventory. So it is a great time to sell a home in the lower price range to take advantage of the balanced market and then buy a home in the upper price range to take advantage of that buyer's market! Last month many new listings came on the market while many others canceled or expired. There are approximately 58,000 homes listed in the Phoenix area with over 7,000 homes in escrow now and more than 6,000 closed last month. That was approximately 80% more than closed a year ago in the same month! We are excited about the great buys in our marketplace and believe that there is always a good time to make a great real estate purchase! The Gilbert market activity, as well as the entire southeast valley activity, has definitely increased in the past few months which will help to stabilize the inventory of homes for sale and should also stabilize prices. We believe prices are at or very near the bottom and cannot go much lower except for the upper price ranges. There are some incredible deals available and interest rates are extremely low, so now is the time to buy to take advantage of the low prices and low interest rates while they last! Many experts are predicting a rise in interest rates now that the presidential election is over and there are concerns about inflation again! Our team currently has many bank owned properties listed and there are experts on our team who specialize in finding all the great deals. We also have a list of bank owned properties that have not hit the market yet but will be available as soon as they are cleaned up. Please call us today to get the latest list of homes available now as well as those that are coming soon! In 2004 and 2005, Gilbert experienced a 47% increase in home prices. For many years previously, the average appreciation was 4 to 7% per year in Gilbert. Prices have been settling back down over the past two or three years and are down approximately 38% valleywide in the past year alone! In fact, Phoenix leads the nation in price change over the past year. Now is a tremendous time to buy as there is an oversupply of builder specs as well as resale homes. In addition, there are thousands of bank-owned homes and those in foreclosure currently. Many move-up buyers are taking advantage of this market as they have learned that even though they may be taking a small hit on the sale price of their home, they are gaining a much larger amount in equity on their higher priced purchase. So if they are selling a $300,000 home and must sell for 10% or $30,000 less, they are making that up on the purchase of a $500,000 property. Assuming the $500,000 home can be purchased for 30% less than before, that's a $150,000 savings on that purchase which helps to offset the lower price on the sale of the first home. This is exactly what is happening in our market this year! Please call us for all your real estate needs and remember, Flowers Get Results! Phone us at 480-545-9300. Thank you so much - we appreciate your business and will give you our very best service! ZIP Codes: 85234, 85295, 85296, 85297, 85233 Location Characteristics: Gilbert, Arizona has been the fastest growing city in America for the past several years. It now boasts a population of over 200,000. Until recently, Gilbert has been known as a bedroom community in the Phoenix metro area. However, recent construction of new hospitals, major shopping malls and car dealerships have placed Gilbert as one of the top destinations in the valley of the sun! In addition, the award-winning Gilbert School District is widely respected nationwide. With beautiful streetscapes and plentiful parks, Gilbert offers one of the most desireable lifestyles in the southwest! For More Information: Visit My Web Site Ask Me A Question About Bill & Cindy Flowers Team: About Cindy: ~ Licensed Arizona Realtor Since 1981 - Associate Broker Since 1984 ~ CRS - Certified Residential Specialist Designation - Held by Only 4% of the Realtors Nationally ~ B.S. in Marketing from Arizona State University in 1997 - Graduated with Honors ~ Multi-Million Dollar Award Winner with the Board of Realtors ~ Born in Laramie, Wyoming - Arizona Resident Since 1980 ~ Avid Denver Bronco Fan! About Bill: ~ Licensed Arizona Realtor Since 1993 ~ ABR Designation (Accredited Buyer Representative) Certified Relocation Specialist Since 1994 ~ 40 Years of Business Experience in Arizona & Texas - Formerly in the Cotton Business ~ Consistant Multi-Million Dollar Producer ~ Born in Sulphur Springs, Texas - Arizona Resident Since 1976 ~ Converted Denver Bronco Fan!