CantaMia – a new 55+ retirement community

dreamstime_l_5059099CantaMia is another great example of locating an Active Adult Community within or adjacent to a multigenerational community.   It offers the opportunity for the 55+ family members to enjoy their extensive exclusive Active Adult facilities as well as share the additional recreational activities with their families who live in the Estrella ranch community.   This I think is the best of both worlds.   It is also interesting to see that as families in Estrella grow and reach the empty nest stage, they are purchasing in the adjacent CantaMia!

CantaMia was designed by Engle Homes, but no construction was started. It was saved from bankruptcy by Joseph Carl Builders, who then joined with Avatar homes (AVHI on the NASDAQ) under the name of Vitalia by AV Homes.   The total number of homes when built out will reach 1700, a fairly small community by some standards.   The recreational activities however are equal to those of the much larger communities.  The 29,000 sq ft Village Center has indoor and outdoor pools, a beautifully equipped demonstration kitchen, an excellent variety of exercise and activity centers as well as a mini café and wine bar.  The workout room boasts a cushy bamboo floor and the computer room and fitness center have instructors from Estrella Community College.  The common areas use reclaimed water for irrigation in keeping with their entire energy saving theme.  There are 14 model homes to guide your home choice, with emphasis being on their Green building techniques.  Check the current prices on our website.  The builder is a member of the Environments For Living, and is a Green Certified Builder.  The homes have been tested for efficient use of utilities and are awarded very high scores. All homes include solar as an energy source.    In keeping with the Green living, the exercise, cooking and activity programs are designed to encourage healthy life choices.  CantaMia’s Sierra Estrella Mountain views and many lakes provide a tranquil and relaxing setting in which to enjoy your healthy retirement.

CantaMia, an Arizona Active Adult Community

I recently visited CantaMia and discovered this jewel in the Estrella Mtns

Market Update – May

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If you read the real estate news in your newspaper, any day now you will be reading that the real estate market has turned!   UP for a change. 

The right numbers are positive and the right numbers are negative….what I mean is the Sales prices are up.

 Really good news is that the percent of sales to list price is  98.3%.    The “make a low ball offer” period is over.  The lender owned homes are selling with multiple offers, almost to the point of bidding wars.   The number of “conventional seller owned” homes are up.

The right negative numbers are for inventory. The number of lender owned and distressed properties is way down.   Our inventory is very low, actually 47% lower than it was first quarter last year! With a total number close to 13,000.  April’s closings were 8400 The month supply is rated at about 1.5 months !    There are 20,500 sales shown as pending and Active with Contingencies. 

The Active Adult 55+ market presently has 2131 homes for sale with 898 sold in April, another 920 pending  and a current supply of 2.3 months.

These numbers are being repeated in select cities across the country, not just the Phoenix Valley of the Sun. 

To make things even better in the real estate world, the interest rates for the conventional 30 year mortgage  are hovering around the 4% level.

 

The Phoenix area 55+ Community Housing Report

Happy Senior Couple Outside Cooking on A Summer Barbecue

Real estate sales in Phoenix and the 55+ Active Adult Community sales see-saw into

a  seller’s market at last.

A lot is being said by the Realtors and is about to be said by the media regarding the surge in home sales and lack of inventory in Phoenix, creating a seller’s market and an increase in home prices.  

The 55+ Active Adult market is not far behind.   Because of the more conservative  nature of the buyers the availability of distressed properties is lower.   The recent numbers are showing that today’s 55+ market has 2 ½ months supply of homes vs. just less than 2 months for the all over valley market.

Total Active listings of 55+ Active Adult homes on the market = 2,648
Total Listings closed in March of Active Adult homes =  1,056
Leaving a 2 ½ month supply of homes for sale.

Right now on the 10th of April there are 917 homes in the Active Adult Communities scheduled to close in April, so we may presume we will close again in the 1,000+ range.

The distressed property numbers show 75 active listings that are bank owned and 71 that are short sales.   That is 5.4% of the total number of active listings, as compared to  Phoenix home listings which show distressed properties as 17% of the total active listings. This is in alignment with the more conservative investing nature of the 55+ buyers.

Phoenix Real Estate Market Report – What’s happening now!

The Phoenix housing market is changing once again.  Last month there were 8,867 homes that sold in our MLS.  There are just shy of 14,000 properties on the market a this very moment.  Divide the sold’s into the current listings and you can see we have less than a 2 month supply of homes available.  A normal market is considered 5-7 months supply.

If you have trouble viewing this video, please click here…. Phoenix Real Estate Market Report 

They say it is not a Real Estate Tax

Adult students working together in a libraryI wanted to get this notice we  received from the National Association of Realtors out to all our blog friends.   This is the information and examples about the new 3.8% tax and how it affects real estate sales.  This tax is a part of the Obama Healthcare Bill.  It will be interesting to see if and what the Supreme Court upholds.   They say it is not a Real Estate Tax, because it does not remove the $250k and $500k deductions on the profit from the sale of your home, but applies to the profits after those deductions are taken and applies only to individuals over a certain income. It will apply to certain other incomes and capital gains.   I suggest you discuss it with your accountant or tax advisor.    The National Association, the Arizona Association  and the local Realtors are opposed to this tax, but our disapproval went unheeded.

Arizona Regional MLS 2011 Stats

Best friendsIt is a pleasure to be able to share some positive real estate statistics as we begin 2012. Although our main interest area, Active Adults, is not featured in the statistics gathering, it is closely related.  The indications are that selling your home in 2012 will be faster and ever so slightly more profitable.  That is encouraging as many of our clients have delayed their retirement move to Arizona based on the lagging prices and sales all over the country.  We should be seeing sold signs planted with the spring flowers!

Click here to read the Arizona Regional MLS report

First Wednesday of the Month!

Man Preparing Food For A Dinner PartyThe first Wednesday of the month is the time to do your big grocery shopping if your 55 years young or more. Most of the grocery stores offer 10% on this one day a month to their customers who are in the 55+ age bracket.

Please check with your favorite grocery store to confirm this discount is available. Also watch your mail for the fliers letting you know not only the sales, but if your favorite store is offering a special extra discount Wednesday too.

It is a great time to fill your freezer with food for the month.

Happy Cooking!

Sun City West, a video tour of the community

Sun City West was the second of the Del Webb “Sun Cities” to be built in the great Phoenix area.  It is still one of the largest communities with a variety of housing styles and options, 4 recreation centers, with the option for garden plots, the Saddle club offing horse stables, bowling alley, 7 golf courses, even the Del Webb Memorial Hospital.  Discover more at ArizonaActiveAdult.com

Sun City West, an Arizona Active Adult Community

Sun City Grand, a video tour of the community

Sun City Grand is one of the many Del Webb 55+ communities in the valley. The community offers a wide range in home sizes, as well as a condominium community with a few of it’s own amenities.  This golf course, active adult community has several pools, clubhouses, activities rooms, craft facilities, tennis courts, pickle ball and much more.  This video will give you a quick visual tour of the community.  For additional information call, email or check out our other website, ArizionaActiveAdult.com