North Scottsdale Homes for Sale – Inventory Drop over 50%, find out which analyst got it right

North Scottsdale Homes for Sale – Inventory Drop over 50%, find out which analyst got it right

You can watch the video or read the blog, they both cover the same material.

Ladies and gentlemen, welcome to the last media roast ever by the Sibbach Team.

Jeff asks, what do you mean Ashley, last media roast ever? Ashley responds by saying we have been bad mouthing the media for long enough that we could just make our final roast and demonstrate how often there are way off on their predictions. We could state this last great example because it is too good to keep

from our audience and then we can bury the hatchet and move on to more productive things and not have to entertain the outlandish negative predictions of the future made by the media (CNBC, Fox, CNN – citing realty companies that profit from negative press such as Zillow, Reality Trac, Core Logic, etc. that spew out inaccurate data)!

Jeff asks Ashley, you mean you want to roast all of them because there predictions for 2011 were that we would see huge volumes of backlogged North Scottsdale Foreclosures, North Scottsdale Real Estate and Phoenix Homes for sale causing inventories to climb and that they would flood our North Scottsdale real estate market making prices fall another 10%?

Jeff continued by saying what actually happened is during this time North Scottsdale homes for sale inventory fell dramatically and now we have less 50% of the inventory we had a year ago!

Ashley reemphasized that the media predicted we would have more inventory and what we actually had happen is that supply weakened to 50% of the available North Scottsdale Homes for Sale then one year ago. Ashley stated that is flat out embarrassing to make predictions that are so far off. We just had to get that out on the table.

Ashley says for the rest of the show that we will do a 2011 North Scottsdale Real Estate Market Recap, give you a prediction on what is going to happen for 2012 and we will send you on your way. We sold 101,000 homes sold in Maricopa County (recorded in Flexmls) for 2011. Jeff comments, SPECTACULAR! I mean really, Ashley cuts him off and reels him in and says compared to what?

Jeff gives the entire historical perspective by stating that in 2005, we sold 105,000 homes, but no other year had over 100,000 homes sold. Ashley chimes in, 2011 was our 2nd best year for homes for sale ever, Jeff adds for demand. The reason I like to point out the demand is because those that are bearish and hang there hat on the fact that we are heading for more gloom and doom basis it on the fact that there is not still any demand!

I have one word for them, WRONG!!

Ashley and Jeff comment together, there is plenty of demand out there. Ashley continues on commenting that prices are still down near the bottom, however looking back at 2011, we did officially mark the bottom in September 2011. Jeff adds – this year, in 2011 we actually APPRECIATED! If you looked back, prices for the year will look more like a V or actually a hockey stick, with the lowest point touching in September, Jeff catches his breathe and give his best impersonation belching out the sound of a bull getting ready to charge (he also makes gesture of horns on his head), bring on the bull market, he says. They both laugh out loud, as Jeff makes an ass out of himself. Ashley shakes her head laughing and comments jokingly that Jeff is a good impersonator.!

Ashley gathers herself and reaffirms, yes that is good news. Ashley adds that we have seen 8% appreciation valley wide since that time, so this is really great news, and continues on stating that if you are thinking about buying, now is a really good time. Jeff adds, what gives Ashley the confidence to say we are headed higher is a multitude of factors, we see pending North Scottsdale Homes for Sales average prices going higher, we see AWC North Scottsdale Homes for Sales average prices headed higher, we see new listings for North Scottsdale Homes for Sales average prices going higher (coupled with weak supply and strong demand), we know prices are going higher and continue to rise. Ashley continues that we had a very strong December, typically one of the weaker months, the 3rd best ever. Currently, we have a little over 18,000 homes on the market, only about 2.2 months of inventory, so we know that is ultra-low showing that supply is not outweighing demand and in fact it is just the opposite. – We look forward to serving you.

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