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47,582 active resale listings as of 10/26!! Okay, it looks like we're finally starting to list and sell about the same amount; however, that means that as a seller you will be competing with 47,000 other homes -- hopefully not all in your community!!! (just kidding) Really, I've been keeping track for months now, and just to give you an idea, we reached 47,000 for the first time on September 7, 2006!! Since that time, we've bounced all over the place getting up as high as 47,946 (I was thinking we were going to hit 48,000), but bottom line? We're still at just 582 more than we were seven weeks ago. That's an encouraging sign. That said, I think that if you can wait it out awhile instead of trying to sell your home, you might be better off. I have several buyers that are ready to purchase a home, BUT they can't sell their's. This includes states like California, Florida, Illinois, and here, in Arizona.
It seemed not too long ago that Casa Grande was wwwwaaaaaaaaaaayyyyyyyyyy out of town. Check out this article about Casa Grande:
Just recently, the Arizona Republic, reported that Casa Grande has three megadevelopments planned on the northwest side of the city that would end up having more residents than the city's current population. The three developments; the Legends, Grande Valley and Copper Mountain Ranch-- would encompass more than 30 square miles and have 74,000 homes with nearly 250,000 people. "We're not seeing a cooling like other communities in Pinal County," said Casa Grande Mayor Chuck Walton. "Maricopa and Johnson Ranch are gridlocked, so people are looking to Casa Grande. Developers are swarming us every day," he added. The city of Casa Grande will soon annex Copper Mountain Ranch and the Legends developments. Grande Valley was annexed in April. Look for this area to continue to boom due to their better transportation system.
Now about Scottsdale:
The East Valley Tribune, recently reported that the city of Scottsdale is considering more regulations on condominium conversions, but some say its too late. Last year, during the go-go days of home selling, Scottsdale received conversion applications from 19 apartment complexes totaling 3,426 units. Scottsdale is considering raising the application fee, imposing stricter health and safety codes and requiring condo conversion projects to go through a public notice process. Scottsdale stands to lose nearly $800,000 in rental tax revenue if condo conversions continue.
Have a great week......AND, as always, if you have any Arizona specific real estate questions, please let me know how I can help.
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