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Scottsdale Zip Code 85262 Home Sales By Type Q2 2013 – Includes Foreclosures & Short Sales

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Luxury Living Scottsdale 85262Here is an overview of home sales activity for Scottsdale’s 85262 zip code for the first half of 2013.

You will find the 85262 zip code at the farthest north point of Scottsdale. A large portion of 85262 has not been developed so residents can really enjoy and appreciate the natural landscape. As you go further north into Scottsdale, the elevation increases, which can result in temperatures being a few degrees cooler in the warmer months.

Home choices in 85262 tend to be single-family or patio homes that are either standalone or are part of a larger community. Many of Scottsdale’s most prestigious golf clubs and communities are located in 85262, including Estancia, Troon North, Legend Trail, Mirabel and Desert Mountain.

The home sale sales data has been broken into three sales types and they are each explained below:
– Non-Distressed Sales – These sales are “normal” or “regular” home sales.
– Short Sales – Short sales are one of the distress sale types. In these sales, the home will be sold for less than what it owed. In order for this to happen, the third-party lienholder needs to approve the price and terms of the sale before it can take place.
– Foreclosures – This is the other distress sale type. Here the home has been foreclosed on and the lienholder now ‘owns’ it. You may hear these homes called “Lender-Owned,”  “REOs,‘” or “Bank-Owned.”

Scottsdale Zip Code 85262 Home Sales for Q2 2013 – Data as of July 1, 2013

  • Active Scottsdale 85262 Homes For Sale: The vast majority of homes for sale at the end of Q2 were regular home sales (96%.) The remainder was an almost even split of short sales and foreclosures.
  • 85262 Pending Homes for Sale: Distress sale homes made up a larger portion of pending home sales at the end of Q2 with 18% of the category, illustrating buyer demand for these types of homes.
  • Q2 2013 Scottsdale 85262 Home Sales: Regular home sales did go back up in proportion to 88%, but we did see a short sales come in with 7%.
  • 85262 Home Prices: Normally, we see regular home sales with the highest average sales price and highest average cost per square foot. However, in Q2, foreclosures came in with the highest average sales price and second highest average price per square foot.
  • Days on Market: This was a very interesting one. The average days on market for short sales was the lowest I have ever seen. These sales usually take several months to close. What was also of interest was the very high days on market for foreclosures. This number was impacted by one home that was on the market for over 800 days.
  • Discounts Off of List Price: Buyers of regular homes saw an average of 6.2% off of asking price. On the distress sale side, we have  been seeing discounts in the 2-3% range, but in Q2, buyers of these homes saw a much larger average discount – 8.5% on short sales and 10.8% on foreclosures.

Q2 2013 Home Sales Scottsdale AZ Zip Code

 

Scottsdale Zip Code 85262 – 2013 Homes Sales Year-to-Date
Here is a recap comparing Q1 and Q2. Unlike other areas where we are seeing regular sales make up a larger portion of sales quarter after quarter, sales types here seem to be somewhat stable.

85262 Scottsdale Home Sales First Half 2013 Short Sale Foreclosure


Scottsdale Zip Code 85262 – 2012 Home Sales by Quarter
Here is the same data, but for the year 2012. Over the course of the year, we did see the percentage of distress sales go down and regular sales increase.

For example, in Q1, regular sales made up 75% of all sales. In comparison, at the end of Q2 2013, that figure is now up to 88%.

85262 2012 Quarterly Sales for 85262 Scottsdale

Click Here to Search for Homes in Scottsdale’s 85262 Zip Code

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85262 for Q2 2013. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85255 Home Sales By Type Q2 2013 – Includes Foreclosures & Short Sales

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Scottsdale AZ Home Here are the Q2 2013 real estate numbers for Scottsdale Arizona’s 85255.

The 85255 zip code is located in North Scottsdale and covers a pretty large area north of the Loop 101.  Housing options abound in 85255. There are everything from high-end condo communities with great amenities to large custom homes on multi-acre parcels. If you are a golfer, several top golf communities are located in 85255. They include DC Ranch and Silverleaf, Desert Highlands, Grayhawk, Troon Country Club and Pinnacle Peak Country Club.


Q2 2013 homes sales in 85255 -Real Estate Report

The home sales information has been broken into three sales types that are described below:
– Non-Distressed Sales – For these sales, the buyer and seller come to terms on the home sale and no outside approval is necessary. These are what I call “regular” or “normal” home sales.
– Short Sales –  Short sales take place when the sales price of the home will be less than what is owed on it. In this case, a third party lienholder needs to approve the terms of the sale before it can close, as they will be taking a loss. Short sales are considered a type of distress sale.
– Foreclosures – Foreclosures are where the lienholder has taken back the home via the foreclosure process. Buyers of these homes negotiate with the lienholder who is acting as the seller in the transaction. Foreclosures are another type of distress sale.

Overall Findings for the Scottsdale Zip Code 85255 Home Sales Market for Q2 2013 – Data as of July 1, 2013

  • Active Scottsdale 85255 Homes For Sale: 98% of all of the homes for sale at the end of Q2 in 85255 were regular sales. The small remainder was split between short sales and foreclosures.
  • 85255 Pending Homes for Sale: Short sales had a higher representation in the pending sales category at the end of Q2 with 11%. Regular sales dropped to 87% and foreclosures continued with a very small 2% of pending sales.
  • Q2 2013 Scottsdale 85255 Home Sales: Again, regulars sales dominated the sales mix in Q2 with 92%. Short sales still an impact with 7% and foreclosures were negligible with 1%.
  • 85255 Home Prices: Regular sales had the highest average sales price and highest average cost per square foot, as we would anticipate. And although foreclosures had a higher average sales price, they had the lowest average cost per square foot.
  • Cumulative Days on Market: The lender-owned homes went very quickly, with an average of 48 days on market. This shows the demand for these kind of homes. Short sales came in with average days on market at over six months.
  • Discounts Off of List Price:  On average, short sales in Q2 sold in excess of list price, coming in at 101.6%. Regular home buyers saw an average discount of 4.2% off of asking and purchasers of foreclosures saw an average of 2.8%.

Q2 2013 Real Estate Report Scottsdale 85255

Scottsdale Zip Code 85255 – Sales for First Two Quarters of 2013

Here are sales over the first two quarters of the year.

Sales activity picked up as the year progressed and regular sales became an even larger part of the sales mix, while foreclosures declined.

First Half 2013 Home Sales Scottsdale 85255

Scottsdale Zip Code 85255 – Sales Data By Quarter for 2012

Here are the sales figures by quarter for last year. As you can see, regular sales only accounted for 67% of all home sales in Q1 2012. But Q4, that percentage had climbed to 78%. In Q2 of 2013, it had reached 92%.

The majority of this growth came from fewer foreclosures in 85255.

Scottsdale 85255 2012 quarterly home sales

Click Here to Search Homes for Sale in Scottsdale’s 85255 Zip Code

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85255 for Q2 2013 and for the year of 2013. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed.
Copyright © 2013 Heather Tawes Nelson

Desert Mountain Scottsdale Offering New Membership Options

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Desert Mountain Scottsdale Apache Golf Course– New Golf and Social Membership Options at Desert Mountain in Scottsdale, Arizona – 

As of July 2013, Desert Mountain has launched a few new membership options* for people looking to become part of this wonderful and vibrant community.

  • The first is a formalization of a Market-Based Pricing Program for Equity Golf Memberships. Prospective members can make bids for and negotiate with existing members who have placed their memberships on a Equity Golf Membership Reissuance list. The minimum price for these memberships is $65,000 and will not exceed $140,000, (which is the current price for an equity golf membership). Current monthly dues are $1,260.
  • A new offering is the Equity Club Membership – Lifestyle. This is a great way for non-golfers to experience all that Desert Mountain has to offer without having to become a golf member. This membership grants access to all of the six clubhouses and nine restaurants, the Sonoran Clubhouse fitness, tennis, spa and pool facilities and the miles of fitness trails. In addition, Lifestyle Club members are encouraged to join one of the many social clubs and programs. The cost of this membership is $10,000 plus monthly dues of $420.
  • Another exciting new offering is the Equity Golf Membership – Junior. Qualified applicants who are under 50 years of age can now become members with a yearly contribution of $5,000. Once the member or eldest member of the couple turns 50, a balloon payment for the remainder of the Equity Golf Membership cost will be due. Monthly dues are also graduated for this membership. They start at $420 per month for members under 30 years old, move to $840 per month for members who are between 30-39 years old and then, once the eldest member turns 40, increase to the full amount of $1,260 per year. During the high season, Junior Golf members will need to book tee times prior to 9AM or after 10AM. (This restriction is removed during the off-season.)

These new membership offerings at Desert Mountain now provide a lot more flexibility to potential members and should be quite successful.

If you are interested in learning more about these memberships or have any questions, please feel free to contact Joyce Tawes at (480) 209-7843.

* All prospective members will need to go through a membership application and approval process in accordance with Desert Mountain’s rules and regulations. Monthly dues based on level/type of membership will be charged in addition to any initial contribution and membership fees. Terms, membership options and prices are as of July 2013 and are subject to change at any time.

Tatum Ranch of Cave Creek, Arizona – 2013 Real Estate Report

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Tatum Ranch Golf Club Practice Area– Tatum Ranch in Cave Creek  AZ –  2013 Real Estate Report –

Tatum Ranch is a master planned community in Cave Creek, Arizona. It is home to over 3,000 homes as well as a few select apartment complexes and commercial developments.

The natural desert landscape has been preserved around the homes and community and many of the homes have wash or desert views. Others enjoy a location overlooking the golf course.

Tatum Ranch is home to two large parks and it is a quick drive to Desert Ridge, North Scottsdale, Downtown Cave Creek and/or area highways.

The Tatum Ranch Golf Club features an 18-hole, par 73 course designed by Robert Cupp. In addition to golf, members can enjoy dining at the club as well as the fitness center and pool. A variety of membership options are available.

TATUM RANCH HOMES FOR SALE AND PENDING SALES AS OF JUNE 24th

As of today’s date, there are twenty-seven homes for sale in Tatum Ranch.

They range in price from $247,000 for a three bedroom, two bathroom home with 1,389 square feet to $695,000 for a 4,581 square foot estate home with five bedrooms and four bathrooms in the Tatum Enclave community.

Pending sales are strong with thirty-one homes under contract. Prices range from $249,000 to $450,000. As you can see, cumulative days on market is low at 38, showing the demand for homes in Tatum Ranch.

Tatum Ranch Pending Home Sales June 2013

 

TATUM RANCH HOME SALES YEAR-TO-DATE

This next chart looks at 2013 home sales in Tatum Ranch to-date.

Home sales have been brisk and have picked up pace over the course of Q2. On average, about 22 homes per month have been selling. When you compare this to the number of homes on the market, at 27, there is a little more than one month’s supply of homes for sale.

Below, you can see that average sales price is up as is the average price per square foot on sold homes. Additionally, homes have been selling at a small discount off of asking price on average, and many have sold in excess of the asking price.

2013 Homes Sold in Tatum Ranch Cave Creek

The Tatum Ranch housing market is very strong right now and has been seeing improvements in price and value. The low number of homes on the market could be holding sales back however.

Search Tatum Ranch Scottsdale Homes for Sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/27/2013 and can change at any time. The analysis looks at residential home sales activity in Tatum Ranch in Cave Creek, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Rancho Manana in Cave Creek AZ – 2013 Real Estate Report

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Rancho Manana homes Cave Creek– Rancho Manana in Cave Creek AZ –  2013 Real Estate Report –

Rancho Manana is a smaller, charming community located among the gently rolling hills of Cave Creek, Arizona. It is home to the public Rancho Manana Golf Club with a par 70 course and one of the area’s best restaurants, the Tonto Bar & Grill.
The central part of the community consists of the Rancho Manana Resort and the golf complex. Beyond that, there are a variety of private homes and estates. Many of these homes enjoy golf course and/or mountain views.

RANCHO MANANA HOMES FOR SALE AND PENDING SALES AS OF JUNE 21st

Because Rancho Manana is in high demand and there are not a lot of homes to choose from, sales activity is a little quieter than we see at some of the larger golf communities.

Currently, there are four single-family homes on the market. They range in price from a 3,100 square foot home with three bedrooms and two and one-half baths listed for $599,900 to $3,200,000 for an estate home with 7,147 square feet and eight bedrooms and six and one-half bathrooms.

There is a single pending sale for a home with three bedrooms and bathrooms that had been listed for $410,000.

Rancho Manana Pending Home Sales June 2013

RANCHO MANANA HOME SALES YEAR-TO-DATE

Below is an analysis of Rancho Manana home sales for 2013 . As you can see, the bulk of the activity has taken place in Q2 with three sales as compared to Q1’s single sale.

You can also see that while the average sales price increased over the course of the year, the average sold price per square foot dropped slightly/held steady.  What is interesting is that some of the homes sold over asking price, giving us the 104% on the sales price to list price figure.

 

2013 home sales Rancho Manana Cave Creek

Although there was not a huge amount of volume, due to low supply, Rancho Manana home sales seem to be progressing along.

Search Rancho Manana Cave Creek Homes for Sale

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/21/2013 and can change at any time. The analysis looks at residential home sales activity in Rancho Manana in Cave Creek, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Legend Trail Scottsdale AZ – 2013 Real Estate Report

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Legend Trail Scottsdale AZ – Legend Trail in Scottsdale AZ –  2013 Real Estate Report –

Legend Trail is a golf community tucked into the northeast portion of North Scottsdale. It is home to several types of housing choices including condos, “lock and leave” cottages,  production homes and lovely custom homes.

Residents enjoy 640 acres of rolling desert and golf course terrain. There are also tennis counts, a fitness center and trails for outdoor enthusiasts. Its location near Pima Road means you are minutes away from dining, shopping and entertainment.

LEGEND TRAIL HOMES FOR SALE AND PENDING SALES AS OF JUNE 19th

As of today, there are 21 homes actively for sale in Legend Trail. They range in price from $288,800 for a two bedroom, two bathroom first-floor condo with 1,253 square feet to $1,585,000 for an elegant Tuscan style custom home with over 4,500 square feet overlooking the golf course.

There are three pending home sales and they range in price from $299,000 to $595,000.

Legend Trail Scottsdale Pending Home Sales June 2013

LEGEND TRAIL HOME SALES YEAR-TO-DATE

Below is a summary of home sales in Legend Trail for 2013 so far. I separated the sales data into Q1 sales as well as year-to-date so you can see how sales are progressing through the year.

As the year has progressed, we have seen sales activity pick up and the average sales price has increased. The average price per square foot has edged up a little as well. Cumulative days on market has increased, but this was impacted by the large number of days on market for the home that sold for $$1,050,000, the highest sales price of the year so far.

Legend Trail 2013 Home Sales Scottsdale

Overall, Legend Trail home sales seem to be doing well as we come to the mid-year. We are seeing positive momentum, but I anticipate this slowing down a bit seasonally during the summer and picking up again as we enter the high season later in the year.

Search Legend Trail Scottsdale Homes for Sale

 

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 6/19/2013 and can change at any time. The analysis looks at residential home sales activity in Legend Trail in Scottsdale, Arizona. This blog represents the opinion of the author. No warranties implied or expressed.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85266 Home Sales By Type Q1 2013 – Includes Foreclosures & Short Sales

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85266 Whisper Rock ScottsdaleBelow is a recap of Scottsdale’s 85266 zip code’s first quarter of 2013.

You will find the 85266 zip code in North Scottsdale, above the Loop 101 freeway. It comprises an area that is north of the 85255 zip code, but is south and west of 85262.  Like the other North Scottsdale zip codes, 85266 is located at a higher elevation and therefore some homes enjoy lovely city light and valley views. There is a lot of natural desert land that has been preserved, so residents get to enjoy the undeveloped vistas.

Much of 85266 is comprised of standalone homes and smaller subdivisions. However, there are three well-known larger golf communities located there. They include Terravita, Whisper Rock and The Boulders.


85266 HOME SALES INFORMATION
The home sales data for the first quarter has been divided into three sales types, of which there are two “distressed” sale categories.

– Non-Distressed Sales – These are the “normal” or “regular” home sales that most people are familiar with.
– Short Sales – Short sales occur when a home is worth less than the loans out on it. In order for the home to sell, a third party who holds a lien on the home must grant approval. Short sales are distressed sales.
– Foreclosures – Here the home has been foreclosed on and the person who owned the home no longer has a stake in it. This is the other distressed category.

Overall Findings for the Scottsdale Zip Code 85266 Home Sales Market for Q1 2013 – Data as of April 1, 2013

  • Active Scottsdale 85266 Homes For Sale: The majority of homes (96%) on the market at the end of the quarter were regular sales.
  • 85266 Pending Homes for Sale: We did see an uptick in the short sale category when you look at the pending sales.
  • Q1 2013 Scottsdale 85266 Home Sales:  Regular sales made up a significant amount of the sales in Q1 with 87%. This is up quite a bit compared to the 76% it was at the end of Q4 2012.
  • 85266 Home Prices: As would be expected, average price per square foot was highest with normal sales. However, short sales came in below foreclosures for the same metric. This is unusual as foreclosures are usually the lowest, but we have been seeing this happen recently.
  • Cumulative Days on Market: Foreclosures had the highest number of days on market in Q1. Usually short sales have the highest number.
  • Discounts Off of List Price: As we have seen elsewhere for Q1, short sales on average sold above the asking price at 102.5%. A very small average discount was seen on foreclosures. Regular sales came in with an average discount of about 5%.

Q1 2013 Home Sales Scottsdale AZ Zip 85266

 

Comparison: Scottsdale Zip Code 85266 Home Sales for 2012

Here is the same data for the entire year of 2012. While sales price and average discount off of asking price haves stayed more or less level, we have seen the average price per square foot increase and days on market decrease quite a bit in Q1 2013.

2012 Home Sales Scottsdale AZ Zip Code 85266

 

2012 Quarterly Home Sales Scottsdale Zip 85266

To see this same analysis for the entire City of Scottsdale AZ, please visit this previous report:
View Scottsdale Home Sales by Type for 2012

Search Homes for Sale in Scottsdale Zip Code 85266

 

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of and 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85266 for Q1 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

Scottsdale Zip Code 85262 Home Sales By Type Q1 2013 – Includes Foreclosures & Short Sales

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Desert Mountain Golf Scottsdale AZ 85262Here is an overview of Q1 2013 home sales for the Scottsdale zip code of 85262.

You will find 85262 in the farthest north section of Scottsdale. It is bordered by National Forest Land, Carefree and Cave Creek.  Much of 85262 is hilly and its higher elevation means many homes and lots have wonderful valley and mountain views.  And, although there are plenty of shopping, dining and entertainment options close by, much of 85262 embraces the Sonoran Desert landscape with wide-open natural desert areas and washes.

Mirabel, Estancia, Desert Mountain, Legend Trail and Troon North are some of the top golf communities that are found in 85262. Depending on the community, you can find lock and leave condos all of the way up to custom estates.

SCOTTSDALE ZIP CODE 85262 HOME SALES REPORT AND SALES TYPE DEFINITION

This first report looks at sales data specific to the first quarter of 2013. Following that are two 2012 summary reports, which will show you how things are changing as we move into 2013.

The data is broken out by home sales type and each of their definitions are below:
– Non-Distressed Sales – These are “regular” or “normal” home sales where a buyer and seller form a contract on the home and ownership transfers to the buyer.
– Short Sales – In the case of a short sale, a home cannot sell for what is owed on it and the homeowner has to get short sale approval from the lienholder to sell the home. This is one of the two “distressed sale” categories.
– Foreclosures –  This final sale type is just what it sounds like. These homes have been foreclosed on and the homeowner is no longer the owner. This other “distressed sale” category may also be called “REO‘,”  “Lender Owned” or “Bank Owned.

Scottsdale Zip Code 85262 Home Sales for Q1 2013 – Data as of April 1, 2013

  • Active Scottsdale 85262 Homes For Sale: Virtually every home on the market at the end of the quarter was a regular sale. Distressed homes made up the remaining 2-3.%
  • 85262 Pending Homes for Sale: However, we do see the distressed homes have a larger impact when you look at pending sales at the end of the month. Now, only 74% is comprised of regular sales and short sales make up almost a fifth of the inventory.
  • Q1 2012 Scottsdale 85262 Home Sales: Regular sales made up 88% of all home sales in Q1. The balance was more or less split between short sales and foreclosures.
  • 85262 Home Prices: As we would expect to see, regular home sales had highest average sales price and highest average price per square foot. Normally, short sales would be the next highest, but in this case, foreclosures and short sales flip-flopped. We have seen this happen a few times over the last several quarters.
  • Days on Market: This is the first time I have seen regular sales come in with the longest days on market. Typically, they have the shortest time period. This is most likely due to some luxury homes selling that had been on the market for a long period.
  • Discounts Off of List Price: The discount on non-distressed homes is about where we would expect it. However, the discounts on short sales and foreclosures is a bit larger than we have been seeing in Scottsdale as a whole. Discounts have been in the 3-4% range, whereas in Q1, we saw discounts of 6-7%.

Q1 2013 Home Sales Scottsdale AZ Zip 85262

SCOTTSDALE ZIP CODE 85262 – 2012 HOME SALES INFORMATION

For comparison’s sake, here are the numbers for 85262 for the year 2012.

As you can see, the average sales price and average price per square foot are up in Q1 2013. And, we are seeing shorter times on market as well as homes selling for less of a discount overall.

2012 Home Sales Scottsdale AZ Zip Code 85262

2012 Quarterly Home Sales Scottsdale Zip 85262


 

To see this same information for the entire City of Scottsdale AZ, please visit these previous reports:
View Scottsdale Home Sales by Type for 2012

Search Homes for Sale in Scottsdale AZ Zip Code 85262

Disclaimer: Due to rounding issues, not all columns will add up to 100%. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 4/1/2013 and can change at any time. The analysis looks at single-family resale homes for sale and sales in Scottsdale AZ zip code 85262 for Q1 2012. There may be new home inventory in these figures if the developer is using the MLS to market its homes. Information deemed reliable but not guaranteed. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2013 Heather Tawes Nelson

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