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| Pinetop Summary2011 The median sales price for homes in Pinetop AZ for Sep 11 to Nov 11 was $120,000. This represents a decline of 29.4%, or $49,900, compared to the prior quarter and a decrease of 42.9% compared to the prior year. The average listing price for Pinetop homes for sale on Trulia was $350,701 for the week ending Jan 11, which represents an increase of 1.2%, or $4,005, compared to the prior week and an increase of 0.5%, or $1,604, compared to the week ending Dec 21. Average price per square foot for Pinetop AZ was $91, a decrease of 20.2% compared to the same period last year. 2010 The median sales price for homes in Pinetop AZ for Feb 11 to Apr 11 was $195,644. This represents an increase of 36.6%, or $52,444, compared to the prior quarter and a decrease of 8.8% compared to the prior year. The average listing price for Pinetop homes for sale on Trulia was $322,205 for the week ending Jul 27, which represents a decline of 0.5%, or $1,498, compared to the prior week and a decline of 2.7%, or $8,898, compared to the week ending Jul 06. Average price per square foot for Pinetop AZ was $107, a decrease of 16.4% compared to the same period last year.
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Lakeside, 85929 SummaryThe median sales price for homes in ZIP code 85929 in Lakeside from Dec 10 to Feb 11 was $128,331 based on 12 sales. Compared to the same period one year ago, the median sales price decreased 26.7%, or $46,669, and the number of sales decreased 7.7%. Average price per square foot for homes in 85929 was $84, a decrease of 20.8% compared to the same period last year. There are currently 363 resale and new homes in ZIP code 85929 on Trulia, including 106 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 85929 was $266,864 for the week ending Mar 02, which represents a decrease of 3%, or $8,282, compared to the prior week. Show Low SummaryAverage price per square foot for Show Low AZ was $94, a decrease of 19.7% compared to the same period last year. The median sales price for homes in Show Low AZ for Dec 10 to Feb 11 was $112,000 based on 41 home sales. Compared to the same period one year ago, the median home sales price decreased 47.9%, or $103,000, and the number of home sales increased 115.8%. There are currently 1,425 resale and new homes in Show Low on Trulia, including 191 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Show Low AZ was $223,511 for the week ending Mar 02, which represents a decrease of 4.1%, or $9,615, compared to the prior week.
White Mountain Summer Homes Sales -- January 2010 thru August 2010
3467 Blue Gill Drive $295,000 $186,000 63% 249
3447 Woodpecker Ln. $890,000 $695,000 78% 284
3234 Ponderosa Parkway $350,000 $204,000 58% 260
2946 Sunflower Dr. $860,000 $500,000 58% 206
2768 Aspen Loop $849,900 $740,000 87% 65
3361 Strawberry Hill Road $598,000 $598,000 100% 1
Bull Frog Loop $849,000 $690,000 78% 659 3808 Country Club $645,000 $465,000 78% 350
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| $0 - $64,999 | 137 | 192 | | $65,000 - 94,999 | 79 | 161 | | $95,000 - $119,999 | 36 | 118 | | $120,000 - $199,999 | 152 | 181 | | $200,000 - $399,999 | 103 | 216 | | $400,000 | 17 | 252 |
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Buyer are purchasing some homes as much as 40% below asking price. Investors are taking the forefront in purchasing volumes of bank owned homes at below replacement prices. Prime Lending has become very restrictive due to new lending requirments for for brokers and banker relating to first time home buyers. Second home buyer either have cash or are being financed by sellers. Buyer seeking funding above $417,000 must have a %20 downpayment in order to find a lender. Buyer seeking funding over 417k must have 25% cash to fund jumbo loan at this time. Commercial and residential land values have dropped reverting to values of 60 months before major peak value escalations. Sellers are having to carry on sales due nonexistent loans on Land. Land owners seeking to build with construction loan have to have a minimum of 65% cash to value in order for national banks to look at deal. Land speculators wheeling and dealing in parcels above 50 acres are now sitting on properties purchased at peak values of $ 10,000 to $20,000 per acrest, are asking 7k to 20k, but because of supply worth $1,000 to $5,000 per acre. Attention Buyers: make sure you assess properties for damage due to heavy snow loads. Appeal Assessment Value... Assessment Process ---- Click Here Cash is king in this market with sellers accepting offers lower than asking prices by %'s lower than ever. Greatest Demand is for Smaller residences between 1200 - 1800 sq ft, 2 to 3 bedroom, 200K - 400k . Sales of higher end homes 400k and up have become very difficult except in subdivisions that provide security, privacy, and legacy. Many seller in High end home are having to carry seconds in order to facilitate buyers, often time having to carry any amount above 417k.
Many clients have as us about their Notice of Value and whether they should protest their tax increase. The first question is: Would you sell your home for the value the assessor has on it? If the answer is no, you may need to go no futher. In my opinion, unless something has adversely affected your value, it is not worth the time and effort to protest your value. The value the assessor has for your cabin is a computer account of comparable sales and is less than your house would appraise for. Land values used by the assessor are for the most part less than sale value.
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