$168,000 - 9625 W ORAIBI Drive, Peoria, AZ 85382

New Listing Coming Soon to Westbrook Village

Coming Soon
to Oakbrook Subdivision in Westbrook Village is a patio home with 2 bedroom, 1.75 bathrooms sitting on a quiet cul-de-sac. This 55+ active adult community of Westbrook Village is perfect for the young of heart with many activities that include 2 golf courses, tennis courts, racquetball courts, fitness, 2 pools, classes and many workshops for creating and expanding your mind.

For more information about this home and others in the area contact:

Lee Ehrke
480-526-0306
lehrkenj@gmail.com
LeeSellsAZHomes.com

Just Sold - 9714 W Rimrock Dr, Peoria

SOLD at full asking price! Under contract in 5 days!!! and closed in 26 days!!! Congratulations Traci, Paul and Tim on the sale of your property! It has been an absolute pleasure to work with all of you.

Call for additional information:
Lee Ehrke
480-526-0306
LeeEhrkeSellsAZHomes.com
 

September's Phoenix Metro Area Market Update

In September we saw another month of slower home sales for the Phoenix Metro Area market, as of September 11, 2014, there were a total of 6428 units sold. This is a decrease of 5.1% month over month and a decrease of 8.9% year over year. We have seen this decrease of home sales for each month starting in June, and this trend may be the a theme for the balance of 2014. We have also seen the total days on market increase, in June we had a total  number of days on market of 83 days and as of September 11th the total number of days on market is 88 days.
Another trend in the Phoenix Metro Area is a decrease in new listings, the total new listings as of September 11th is 8175 units, this is a decrease of 3.5% moth over month and a decrease of 16.6% year over year. We are also seeing the active listings drop from May's 26245 Units to September 11th 24220 units.In the next few months we may see the total listings units on the market go up, while the total units sold may continue to go down and then start to stabilize by the end of December early January.
Currently, in the Phoenix Metro Area, we are in a balance market with the average sale price hovering between $250,600.00 in May and $249,000.00 in September, in addition, the median sale price in May was $189,000.00 and in September it was $195,000.00. I do not see the average sale price or the median sale price of homes fluctuating much through the end of this year, if anything, we may see some downward pressure if there is an increase of listing on the market and a decrease of sales. If this happens, the buyers may be able to get some great deals.


Lee Ehrke - The Ehrke Team
Keller Williams Realty East Valley
2077 E Warner Rd #110
Tempe, AZ 85284
lehrkenj@gmail.com
480-526-0306

All data provided by ARMLS

 

2 Bedroom 1.75 Bath Patio Home In Westbrook Village

New Listing at 9714 W Rimrock Dr., Peoria

It's all about ease-of-living in this attached single-story home that is perfect for seasonal residents looking for a lock-and-leave home or those just looking for a simpler way of living. Come home to the relaxing and fun lifestyle you have dreamed of at the popular Oakbrook subdivision within Westbrook Village. This 2 bedroom, 1.75 bath sits on a quiet cul-de-sac. It has a spacious eat in kitchen as well as a formal dining area in the great room, a large master bedroom plus a covered patio with the view of the greenbelt. The two car garage offers extra storage with built in cabinets. Westbrook Village is an active adult community with two 18 hole golf courses, 2 recreation centers with many amenities and activities that include tennis, racquetball, fitness, classes, and workshops.
The home is close to the 101 freeway and shopping at the Arrowhead Towne Center and more. Westbrook Village is a Lifestyle that will change your life.

Call Lee Ehrke for additional information
You Tube Video

Drive By Home Search App

without the hassle of calling the listing agent, well this is the App for you (Its Free). The App allows you to search home price, number of bedrooms and bathrooms, the square foot of the home, lot size and you can view the available photos of the interior, plus many other great and interesting facts about the home.

The App works nationwide and while you are on vacation in another state, you can check out the real estate market and compare home prices. Contacting your agent is also a cinch for showings your favorite homes in your favorite neighborhood, plus you can see payment information.

There are many features the App has that allows you to set up your search criteria on the home that fits your needs and wants. The nearby home search button allows you to see homes around your general area (it works off of your GPS coordinates), so take a drive to your favorite neighborhood and check out the home prices.

Tell your friends, family members and co-works about this App, they to can have fun looking at homes while driving around in their car. Just use the share button and type in either an email address or a phone number and they also will be able to download the device.

Now that you are ready to buy a home in your favorite neighborhood and the home of your dreams, call Lee Ehrke - The Ehrke Team with Keller Williams Realty East Valley to set up a showing and discuss the process of making an offer at 480-526-0306.

Phoenix Metro Market Update

 For the greater Phoenix area, the average sales price per square foot as of August 26, 2014 was $126.00, this is down from April's average square foot price of $131.00. Most home prices are no longer rising and some are slightly falling.

The Phoenix area market indicators are showing signs of weakness, mortgage applications are at the lowest level since December of 2000. The market indicator are all down from the normal = 100. The Supply Index is showing 85.5 and is showing signs of staying weak through the end of 2014. The Demand Index is at 81.0 and this index does not look like it will change much through the end of the year. The third index is the Market Index which is showing the Arizona market is a balance market. Although as an average we show we are in a balance market there are areas that are a Buyers market such as Maricopa, Laveen, Buckeye, Casa Grande and Gilbert.

Home demand by Buyers is weak but rental demand is strong, rent is up 7% this year and rent may continue to rise through 2015 due to a rental property shortage. As of August 26, 2014 there were 3048 single family residental rental listings on ARMLS and in January there were 4345, this is only a 36 day supply and those homes still on the market has an average rental rate of $1760.00 per month. The average rental rate was $1449.00 per month in January.

Looking ahead, we are seeing the second quarter of 2015 showing improvement in the Phoenix Metro real estate market, with past foreclosed home owners wanting to be home owners again and with the pressure from the increase of rental rates. The only index of concern will be the Supply Index, this may lag the Demand Index causing home prices to rise.

For additional information about buying or selling a home contact:

Lee Ehrke - The Ehrke Team
Keller Williams Realty East Valley
2077 E Warner Rd #110
Tempe, AZ 85284
lehrkenj@gmail.com
Phone: 480-526-0306


All data provided by the Cromford Report