Wendy Kirtland, PLLC WKirtland@FineProp.com 480.215.0959 www. WendyKirtland.com

Cachet at Grayhawk Real Estate Update

“GO GREEN”

Cachet-"A mark of quality, as of distinction, individuality or authenticity"

May 2011

Volume 1 Issue 5

Cachet at Grayhawk Real Estate Newsletter Presented by Wendy Kirtland, PLLC

RE/MAX Fine Properties

Wendy is a full-time REALTOR who works diligently to serve her clients’ best interest. Whether listing or sell-ing your home for your highest advantage or finding the perfect home to suit your needs, she is tireless in her efforts. Wendy holds the des-ignations of Graduate of Realtor Institute (GRI), Accredited Buyer’s Representative (ABR), Certified Dis-tressed Property Ex-pert (CDPE), Certified Investor Agent Spe-cialist (CIAS), Short Sale and Foreclosure Resource (SFR), and Certified Negotiation Expert (CNE). Wendy is a Cachet at Grayhawk Resident.

We did not have a “GO GREEN” winner for April. I am going to continue to offer the $25.00 gift card to “ Jasper’s Peak” until we do have a winner. It is only going to take 1 person to send me an email with “GO GREEN” in the subject and the gift card will be yours! So many of our residents have gone home for the summer and you will want to stay up to date with what is happen-ing with Real Estate in your Cachet neighborhood. Don’t miss out! We do not share your email address and you can “opt out” .

Can you say SOLD? April was a very busy month for our Cachet neighborhood! We had 3 Closed Sales which brings our total to 7 for 2011. All 3 were Villa units selling from $222,000 to $280,000. One property was Lender Owned and sold for $12,800 OVER listed price and 2 were Traditional Sales. Our year to date sales have sold for 98% of listed price and an average of $161.97/sq. ft. We currently have one sale Pending at $249,900 which is a Lender Owned Property at

$151.91/ sq. ft. We currently have 4 Active Listings ranging from $209,900 to $339,000. Two are Lender Owned Properties and 2 are Traditional Sales. These properties are listed from $139.30/sq. ft. to $206.08/sq. ft. Cachet continues to be very desirable especially for buyers purchasing a 2nd home. I currently have buyers ready to pur-chase in Cachet right now.

Wendy Kirtland, PLLC WKirtland@FineProp.com 480.215.0959 www. WendyKirtland.com

Residential Sales Approach 10,000 in March 2011! The 1st quarter of 2011 closed out with a bang! ARMLS reported nearly 10,000 residen-tial sales in March in the Greater Phoenix area! June 2004, June 2005 and August 2005 are the only other months in history when sales have hit 10,000. this is great news for our stressed housing market and indicates buyers are taking advantage of the phenomenal affordability that the Greater Phoenix area offers today. 8,350 (84%) of the sales were single family

detached sales 77% of the single family sales were under

$200,000-Median sales price was $110,000 and the average sales price was $157,800

How were these single family homes pur-chased?

46% with cash 26% with a Conventional loan-This

includes Fannie Mae HomePath. HomePath is currently offering a 3.5% contribution toward the buyer’s costs.

23% with an FHA loan-With a loan limit up to $346,250 in Maricopa

County . 4% with a VA loan-100% financing

(ZERO down) and no monthly mort-gage insurance and down to a 620 credit score.

2% with other financing-Seller Carry Backs, Bond Loans and USDA Rural home loans fall into this category.

All sales combined: 43% were lender owned ,

19% were short sales and 38% were other sales which include investor flipped proper-ties which were purchased at Trustee’s Sale.

Total inventory is the lowest in the last 23 months! Reducing oversupply is a MUST in our recovery and this trend is positive.

The single family rental market was on fire with only a 1.5 month supply. This is great news for the long term real estate investor.

Commentary and statistics were provided by Kelly Zitlow of Cherry Creek Mortgage and Fletcher Wilcox of Grand Canyon Title.

Navigating the Retirement Road As the local real estate market adjusts its course, the owner/portfolio managers of Pogson and Matt Wealth Management Group, LLC have also seen retirees’ outlooks change with the turmoil experienced in the financial markets over the most recent years. As long-time resi-dents of the North Scottsdale/Phoenix area, we’ve seen the most optimistic outlook on retire-ment turn into a more modest one. As these changes evolved, we listened to our clients and de-fined our core belief to help our clients better protect their financial assets. Last year our five owners created a unique business model that was designed to develop deep and meaningful relationships with our clients. As each of us departed the corporate world we knew we needed to create a paradigm different than the norm in the financial services indus-try. Simply put, being average wasn’t going to be acceptable for us or our clients. Since then, we’ve delivered on what most firms are not structured to provide; exceptional service and proactive involvement in all facets of the client relationship. We are not just money managers, but more importantly, risk managers, and our obligation to our clients doesn’t end there. We understand how important it is to know the entire family dynamic as your fiduciary. As such, we’ve drawn on our corporate backgrounds, to structure our independent business to have the ability to take the time needed to understand your entire situation. This is something very few firms offer, execute on, or seemed concerned with. Every client is unique and deserves this type of attention, which is why we’ve made it the central theme of our business. Please visit our website at www.pogsonmatt.com, where you can get more information on our firm, as well as sign up for our free monthly newsletter.

Wendy Kirtland, PLLC WKirtland@FineProp.com 480.215.0959 www. WendyKirtland.com

Wendy Kirtland, PLLC WKirtland@FineProp.com 480.215.0959 www. WendyKirtland.com

Wendy Kirtland, PLLC RE/MAX Fine Properties 21000 North Pima Road, Suite 100 Scottsdale, Arizona 85255

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