Kingman Homes
Kingman Real estate market update, showing Kingman home sales over the last quarter, along with Kingman's Commercial and Vacant land sales. All numbers are drawn from Wardex and are deemed reliable.
[Read More]Posted at 09:48AM Jul 23, 2009 by Dwayne Patterson in Real Estate | Comments[0]
Kingman home sales
The stock market is still jumpy and investors worried about the global recession. The big question, is it ending soon? A big surprise is the strong positive signs in the home and real estate market. The Kingman Real Estate market is no different. Kingman’s foreclosure homes are dwindling. We are also seeing multiple offers and bidding wars on many of Kingman’s foreclosure homes and other Kingman residential properties.
Nationally, home sales rose sharply, nearly 7% in the latest month, according to the National Assoc. of Realtors. Pending sales are up in all four regions of the country, and this has really caught the attention of key industry economist. Most economist are saying this confirms the view that existing home sales hit their cyclical bottom in January, 2009 and are like to continue to rise. This has been very evident in watching the Kingman real estate market, not only in Kingman Foreclosures, but also in private sales of residential property.
Looking at Kingman mortgage rates, we are also seeing a favorable move. Currently home loans in Kingman can be acquired in the 5.3% range for a 30 yr fixed. The Mortgage Bankers Assoc. state that new home loans increased 7% in the week ending July 3rd.
Affordable prices are bringing buyers back into the Kingman real estate market, in both the residential area, as well as Kingman Commercial. We are also starting to see a bit more activity in vacant land and development land in the Kingman area.
Inventory for Kingman Single Family homes is now under 500 homes and currently we are seeing around over 70 Single Family homes a month selling in the Kingman Real Estate market
In many areas of the country, rental vacancies are running at 7.5%. Kingman rental homes are still relatively strong. Talking with my property manager this morning, shows our agency has less than 3% vacancies in single family homes, and demand is very high.
We have increased our single family homes available for rent to approximately 250 homes, and are in need of more to satisfy our tenant demand. If you are an owner of investment properties in Kingman, not currently satisfied with your property manager, or looking to purchase investment properties, now is the time to make a make to a full service agency. There are some fantastic opportunities to get Kingman Investment properties that will show a positive cash flow.
Feel free to contact TEAM PATTERSON at anytime with any questions on the Kingman real estate market, regarding single family homes, commercial property, or land parcels of any size. We have a team member to fit what you are looking for.
Posted at 11:34AM Jul 14, 2009 by Dwayne Patterson in Real Estate | Comments[0]
Real Estate Recovery
In a recovery thats just getting going, dont expect all the economic signs to point in the same direction at all times. The latest numbers on housing, sales, prices, mortgage rates and foreclosures are examples of this.
Sales of existing homes came in at 2.4% increase in May over April. This is the first consecutive gain in resales since Sept 2005.
Then on the other side of the coin, new construction dropped by 6/10 of a percent. This is more than likely due to the low priced foreclosures on the market and pulled buyer's away from the builders.
The number of foreclosures on the market has caused home prices to drop again. The Median home sale price in May was $173,000, 16% below what it was a year earlier, according to NAR.
Nationally, one of every three homes that went to closing in May was a homeowner in distress, which is either a foreclosure or short sale. Prices will not level off, until the foreclosures level off. Foreclosures continue to drive prices down.
In some areas of the country, the story is different. Resale prices are starting to get a foothold, and level off as foreclosures ease up, and in a few areas, we are even starting to see prices increase on homes.
Applications for home loans were up 7.3 % last week, pointing to continuing strength in sales during the next several months. Mortgage rates appear to have reveresed their trend of recent increases. The Mortgage Bankers Assoc, states the 30 yr fixed rated went for 5.4% last week, down from close to 6% a few weeks ago.
Things are moving forward in Mohave County, AZ. I still think, whether for investment property or to purchase real estate to live on, Kingman is still one of the best places. Fantastic climate, great location to all major SW Cities, and Lake Mead or Lake Mohave, just a stone's throw away. Please feel free to browse our website, check out the links to our community, and always feel free to give TEAM PATTERSON a call or email with any questions you might have about real estate in Kingman, AZ, Lake Havasu City homes, or Bullhead City Homes. We have professional agents, trained in all aspects of real estate, from homes, investment land, commercial properties and much more.
Posted at 08:37AM Jun 30, 2009 by Dwayne Patterson in Real Estate | Comments[0]
Who's Who in Kingman, AZ
HAVE YOU HEARD THE NEWS?
RE/MAX Prestige Properties on Hualapai Mtn Rd is #1…..AGAIN!
Truth be told, according to Wardex MLS Stats, we have been the #1 Agency since 2005, and our numbers keep climbing. In May 2009, we held 30% of the market share. This means, that 30% of every real estate sale in Kingman was handled by RE/MAX Prestige.
Again, we all know, home sales are down, but we continue to grow. Homes are selling, providing, #1. They are marketed properly and #2. They are priced correctly. You may ask, How are you doing that? Superior Service, Superior Marketing and Superior Knowledge. We have the Best Trained agents, its plain and simple.
RE/MAX moto has always been, Outstanding Agents & Outstanding results, and at RE/MAX Prestige we follow thru with this.
If you are thinking about selling or buying, Team Patterson of RE/MAX Prestige has the professionals to assist you. We will be happy to provide you a complete no cost market analysis of your home. We have the marketing expertise to move your home quickly! Others may make promises, we back up ours with stats.
Please feel free to call anyone on Team Patterson, 928-753-7653 for a FREE analysis on your property, or to discuss your interests in purchasing other properties. Check us out on the web at www.dwaynesellskingman.com.
Sincerely,
Dwayne E. Patterson, Owner/REALTOR
Posted at 11:56AM Jun 29, 2009 by Dwayne Patterson in Real Estate | Comments[0]