How's the Real Estate Pricing? Arizona Relocation Tool Offers Local Data

When I receive an out of state call, one of the first questions I'm asked is "how's the pricing?" The short answer is that state-wide prices are below what they were last year but the pricing will vary by city, zip code and neighborhood. Here's an example of pricing by zip code as reported in the Arizona Republic (July 12, 2008):

Phoenix - 85007 - Up 10.4%

Mesa - 85205 - Down 5.5%

Scottsdale - 85262 - Up 6.7%

So... if you want to buy in these zip codes, one will have lower pricing and the other two have had increases. In other words- conditions are local. These "UP" and "Down" areas exist everywhere... and they change constantly. Anyone who is looking to purchase will have to look at more than price to determine value. Most likely they'll want to compare community information.

Like many realtors, I have links on my website that allow people to research community information.

By clicking on the link people can create a report for a single zip code or compare two zip codes.

Among the items included in the free reports are community characteristics such as: population, household data, schools, housing prices, transportation, income, employment, net worth, cost of living, climate and crime.

Those who are less familiar with the area are able to take this information, combined it with MLS information and, as a resullt- gain a more complete picture of neigborhood.

To the right is a sample of the "housing" section... you'll see that the data is vastly different for thes "appreciating prices" neighborhood.

NOTE: The community reports link works for any zip code in the USA... not just Arizona.

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Chuck Willman, Arizona Real Estate Agent - www.AZvest.com - 480.292.0600 - chuck@AZvest.com