Real Estate Information

 FEBRUARY 2010

   REAL ESTATE STATISTICS TRILOGY & VISTANCIA!!

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TRILOGY

FOR SALE....As of February 27, There are 97 resale homes for sale, 3 of which are designer/spec homes. The average sales price is $373,409 or $169.20 per sq.ft. The average CDOM, Cummulative Days on the Market is 169 days.

PENDING....There are 16 Pending home sales.

SOLD/CLOSED....There have been 25 resale homes Sold in the past 3 months. The average Sold price is $361,944 or $166.51 per sq.ft. The average CDOM Cumulative Days on the Market was 211 days.

SOLD/YEAR TO DATE....There were total of 92 resale homes sold in Trilogy for year 2009!

VISTANCIA

FOR SALE....As of February 27, 2010 there are 105 resale homes for sale, 4 of which are spec homes. The average sales price is $265,670 or $95.62 per sq.ft.. The average CDOM, Cumulative Days on the Market is 147 days.

PENDING....There are 32 pending home sales.

SOLD/CLOSED....There have been 42 homes Sold in the past 3months. The average Sold price was $215,822 or $83.04 per sq.ft. The average CDOM, Cumulative Days on the Market was 116 days.

SOLD/YEAR TO DATE....There were 238 resale homes sold in Vistancia for year 2009. 

 FEBRUARY 2010

   REAL ESTATE STATISTICS TRILOGY & VISTANCIA!!

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TRILOGY

FOR SALE....As of February 27, There are 97 resale homes for sale, 3 of which are designer/spec homes. The average sales price is $373,409 or $169.20 per sq.ft. The average CDOM, Cummulative Days on the Market is 169 days.

PENDING....There are 16 Pending home sales.

SOLD/CLOSED....There have been 25 resale homes Sold in the past 3 months. The average Sold price is $361,944 or $166.51 per sq.ft. The average CDOM Cumulative Days on the Market was 211 days.

SOLD/YEAR TO DATE....There were total of 92 resale homes sold in Trilogy for year 2009!

VISTANCIA

FOR SALE....As of February 27, 2010 there are 105 resale homes for sale, 4 of which are spec homes. The average sales price is $265,670 or $95.62 per sq.ft.. The average CDOM, Cumulative Days on the Market is 147 days.

PENDING....There are 32 pending home sales.

SOLD/CLOSED....There have been 42 homes Sold in the past 3months. The average Sold price was $215,822 or $83.04 per sq.ft. The average CDOM, Cumulative Days on the Market was 116 days.

SOLD/YEAR TO DATE....There were 238 resale homes sold in Vistancia for year 2009. 

Dear Friends, Neighbors and Associates,

Well.....I suppose all of you are aware of Shea's New Home price listing. I thought this would be a good opportunity to "just ad my 2 cents" here as everyone has an opinion and that is what makes the world turn!

In some ways, there is nothing to get alarmed about the new prices,as I suppose it's the way you look at the whole picture..........in reality, if you analyse this pricing, a new buyer could actually pay more for a home than buying at the old price!  I'll leave that up to you as to the way you see it. Naturally, as you know, Shea can do anything they choose in regard to their new home pricing structure......we have no say, nor should we.....to me it's really not the pricing, it's the way the public "perceives" the pricing. The first thing the public will see when viewing the price list is the low base prices. Truthfully, many new Buyers do not even analyse the price structure, and just simply end up buying anyway..........let's face it, a shark frenzy is what Shea wants to create quick deals on their new homes! This is definitely getting Buyers "in the door" to purchase homes.

I have had many people write emails to me with comments about this scenario and frankly many are really upset!  Other's don't seem to mind! Others don't care either way! The only thing I can ad at this point is all of us should be concerned with property values and what kind of impact certain business practices have on our home values. Take in consideration, our community has had quite a few of distressed properties and foreclosures in the past two years. Keep in mind, this is also a large loss for our coffers, HOA reserves etc..........yes, it is the economy, but to me, we need all the help we can get in trying to keep our home values up and stop the terrible disease of distressed properties. 

• Thank you, Lee Moore Sr.

         January 2010

   REAL ESTATE STATISTICS TRILOGY & VISTANCIA!!

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TRILOGY

FOR SALE....As of January 23, 2010, There are 95 resale homes for sale, 4 of which are designer/spec homes. The average sales price is $383,209 or $170.30 per sq.ft. The average CDOM, Cummulative Days on the Market is 166 days.

PENDING....There are 10 Pending home sales.

SOLD/CLOSED....There have been 29 resale homes Sold in the past 3 months. The average Sold price is $362,766 or $169.44 per sq.ft. The average CDOM Cumulative Days on the Market was 220 days.

SOLD/YEAR TO DATE....There were total of 92 resale homes sold in Trilogy for year 2009!

VISTANCIA

FOR SALE....As of January 20, there are 113 resale homes for sale, 4 of which are spec homes. The average sales price is $258,246 or $92.78 per sq.ft.. The average CDOM, Cumulative Days on the Market is 146 days.

PENDING....There are 13 pending home sales.

SOLD/CLOSED....There have been 52 homes Sold in the past 3months. The average Sold price was $246,243 or $89.12 per sq.ft. The average CDOM, Cumulative Days on the Market was 124 days.

SOLD/YEAR TO DATE....There were 238 resale homes sold in Vistancia for year 2009. 

Hello Friends and Neighbors,

We just wanted to drop you a line and let you know we have a new IDX feature on our website, that allows you to search for your own properties. You can search in your own Subdivision or other areas for properties, or look up the most recent sales in any area. This is a three step system and is extremely easy for you to use 24/7. So, give it a try, just click.....yes, IDX search please!

We strive to give you the best service in the real estate Industry....bar none! In the event you would like to view any property located in the Valley or in TRILOGY or VISTANCIA, just give us a call or email and we'll arrange for a showing.

Finally, as another FREE service to you, we offer you a FREE market analysis on your home any time you ask..........so if you want an updated CMA market analysis, at no obligation, just click.........yes FREE home Evaluation!

By the way, keep an eye out for the upcoming February issue of TRILOGY"Market Trends" E-Newsletter with some new monthly updated real estate statistics features that will give you more information!.....you will like it! Thank you, Team Lee Moore

 TRILOGY year end sales and statistics for New Shea Homes!

Well........I hope your all starting out for a great year in 2010!

On Tuesday January 5, 2010, I along with other Realtors in our Community had a meeting with Bob Williams, Sales Manager for New Shea Homes, for the purpose of obtaining the year end home sale statistics for year 2009. Listed below is a report regarding this meeting:

For the month of December, Shea New homes had 9 Net Sales.

Year end 2009, Shea had 145 net sales, with 114 new homes SOLD.

 With a carryover of closings for year 2009, Bob predicts 160 closings for year 2010.

There is only 1 completed designer home, with 13 more under construction with completion dates May to June, 2010.

Bob reported that customer traffic dropped off after December 15, but expects    lot more activity after January 1, 2010.

There are still some good lots for sale in Section C-5, and section C-6 will be the next new parcel opening.

Shea will announce new lower incentives beginning this February. 

Year to date, there have been a total of 1806 New Shea homes sold in Trilogy since their inception. Shea has a total of 2391 building permits with the City of Peoria for new homes. Leaving about 585 homes to be sold. However, in the future, there may be 40-50 more homes added to that number.

According to Bob, of the sales closed in 2009, approximately 20% of the New home sales were of the Vita Collection, 40% for the Veritas, and 40% for the Ventura.

I hope this helps you with some good information about Shea New Home Sales, and remember you got it first from me, so in the event you are considering the sale of your home, want to purchase another home.....or do both, please contact me anytime.

By the way, I am working on the January issue of my "Market Trends" E-Newsletter which will be out soon. There's tons of great information about home ownership in general......+ up to date real estate statistics about Trilogy and Vistancia. Check it out every month!  If your not a subscriber, just send me a email with you name and email address and your on the list!

Again, we wish a great and safe year 2010! Thank you, Lee Moore Sr.

Want a FREE Market Analysis on your Home in today's market?.....Emailed to you....no obligation, just click here.....Yes, FREE Analysis!

 REAL ESTATE STATISTICS TRILOGY and VISTANCIA!!

TRILOGY

FOR SALE....As of December 20,2009, There are 83 resale homes for sale, 4 of which are designer/spec homes. The average sales price is $404,740 or $174.83 per sq.ft. The average CDOM, Cummulative Days on the Market is 177 days.

PENDING....There are 12 Pending home sales.

SOLD/CLOSED....There have been 39 resale homes Sold in the past 6 months. The average Sold price is $314,882 or $155.19 per sq.ft. The average CDOM Cummulative Days on the Market was 206 days.

SOLD/YEAR TO DATE....There have been a total of 92 resale homes sold in Trilogy this past year.

VISTANCIA

FOR SALE....As of Decemberf 20,2009, there are 110 resale homes for sale, 4 of which are spec homes. The average sales price is $396,654 or $166.28 per sq.ft.. The average CDOM, Cummulative Days on the Market is 184 days.

PENDING....There are 13 pending home sales.

SOLD/CLOSED....There have been 46 homes Sold in the past 6 months. The average Sold price was $300,672 or $147.81 per sq.ft. The average CDOM, Cummulative Days on the Market was 183 days.

Having been a licensed Real Estate Agent/Broker in Arizona since 1976, I get many folks asking good real estate questions all the time, and this is fine! I invite anyone to contact me anytime about their real estate needs or questions.

One of our latest issues effecting a lot of people, including those residing in Trilogy are "Review Appraisals". I'll do the best I can to try and describe in Layman's terms. If you or anyone you know are trying to refinance an existing Mortgage, or obtain financing to purchase a home, it is inevitable that you must have an Appraisal, and it has been this way for as long as I can remember. Well......now we have a new deal regarding Appraisals, due to what has happened to our real estate industry in the last several years regarding issues with financing and Appraisals. Seems that Fannie May and Freddie Mac have instigated a new process whereupon they are requiring all Lenders that I know of to participate in obtaining a 2nd opinion to an initial Appraisal. In other words, let's say you received your Appraisal of which your Lender ordered to obtain financing, and all is good, your Appraisal came in right on the money and you would go forward in closing the new financing or sale. In today's world, the Lender must order a separate 2nd Appraisal so they can act as a disinterested 3rd party and give their professional opinion regarding the value of the property. This may not be all bad, because it is very possible the 2nd Appraiser may agree with the 1st Appraiser, and most of the time this will occur. However, there are instances happening right now where the two Appraisers have differences of opinion, and this is where is gets kind of "hairy". How can this be corrected? The 1st Appraiser can challenge the 2nd Appraiser and it's very possible the two Appraisers will eventually agree. If they cannot mutually agree upon final value, then we may have a problem. If an Appraisal has been ordered for the use of refinancing or new financing, the Appraised amount will only effect the loan amount. If on the other hand the financing involves the sale of a property too, it even gets "hairrier" as the Appraised amount may be different than the "Purchase Price" of the property. It may be lower or higher. If this happens, and Appraisers cannot come to terms regarding the final Appraised value.......and the Buyer, nor the Seller will not fluctuate off the Purchase price, then this could definitely be a "Deal Killer" and all of this activity was for naught! 

Here's the bottom line, real estate transactions are getting more and more difficult to comlete and close. Borrowers are having a much harder time in obtaining finaning, irregardless of past credit history, and of course with the new "Review Appraisal Laws", new financing is becoming very difficult.

There has never been a time in my past where a person needs the services of a professional Realtor, more than now. We have some real challenges ahead of us, and again, I invite you to please call or email me with any issues you might have with your real estate needs. I'll be happy to assist you in any way I can! Thank you, Lee Moore Sr.

Hello Friends and Neighbors,

Listed below you will find new real estate statistics for the resale homes in TRILOGY and VISTANCIA. This information is provided by our local Multiple Listing Service (aka MLS) is considered reliable but not guaranteed.

TRILOGY 

ACTIVE FOR SALE - As of 9/21/2009, there are 70 homes for sale in TRILOGY of which only 11 are new Shea Designer/Spec homes. The total average sales price is $390,236 or $169.04 per sq.ft. and the average Cumulative Days on the Market (CDOM) is 211 days.

PENDING SALES - Presently,there are 11 pending sales.

SOLD/CLOSED- There have been 62 homes sold/closed in the past 6 months. The average sold price was $302,603 or $147.16 per sq.ft. and the average Cumulative Days on the Market (CDOM) was 220 days.

TRILOGY New Shea Home report - There were 13 net sales of new homes in August. Total new homes sold is 130 homes(as of 8/15/2009) since beginning of year. To date 1734 homes have been sold in Trilogy. The City of Peoria has approved 2700 homes in Trilogy, however the current close out projection is for only 2491 homes. Presently there are 56 homes under Contract.

VISTANCIA

ACTIVE FOR SALE - As of 9/21/2009, there are 83 homes for sale in VISTANCIA, 4 of which are new Spec homes of various builders. The average sales price is $300,865 or $100.51 per sq.ft., and the average Cumulative Days on the Market (CDOM) is 139 days.

PENDING SALES - There are 42 pending sales at this time.

SOLD/ACTIVE - There have been 129 homes sold in the past 6 months, 5 of which were new home Spec's. The average sold price was $216,810 or $83.17 per sq.ft, and the average Cumulative Days on the Market was 125 days.

UPDATED NEWS! ......WOW! Check it out! 62 resale homes sold in the past 6 months in Trilogy. That is great news for those Realtors out there trying to get through this crazy economy.....including me!  I am sure this is also good news for those folks who have had their homes for sale for over a year.......when we have sales, that's a confidance builder for everyone. There are really good signs that the real estate market is picking, not only in Trilogy but all over the Valley and hopefully this trend stays strong through the fall and spring.  I'll keep you informed!

 SHORT SALES TIPS FOR SELLERS

Dear Readers,

For the past 36 months, TEAM Lee Moore has had to deal with "Short Sales", especially with multi family residential homes in the NW valley, including Vistancia, not much in Trilogy! Many people ask me how Short Sales work, so I thought you would like this description and thorough explanation of a "Short Sale". In the event you or anyone you know are in need of a Short Sale assistance, please have them call or email me. We have successfully closed many Short Sales and are qualified to complete the Short Sale process for anyone in need.  Lee Moore Sr.  

If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.

1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if:

• Your property is worth less than the total mortgage you owe on it.
• You have a financial hardship, such as a job loss or major medical bills.
• You have contacted your lender and it is willing to entertain a short sale.

2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:

• Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
• Help you set an appropriate listing price for your home, market the home, and get it sold.
• Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
• Ease the process of working with your lender or lenders.
• Negotiate the contract with the buyers.
• Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.

3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include: 

• A hardship letter detailing your financial situation and why you need the short sale
• A copy of the purchase contract and listing agreement
• Proof of your income and assets
• Copies of your federal income tax returns for the past two years

4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:

• If you have only one mortgage, the review can take about two months.
• With a first and second mortgage with the same lender, the review can take about three months.
• With two or more mortgages with different lenders, it can take four months or longer.

When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)

5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:

• You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
• Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
• Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.