Hello from Sitka, Alaska

Many of you know, but for those who don't, I am in Sitka, Alaska this week. We have been on the hunt for King Salmon and Halibut. Today, my numbers were not good - only 2 catches, but I caught a 5 foot 110 pound Alaskan Halibut. It was a fight! You can see me below with my catch.

















Me with my 24 pound King Salmon! As I brought her to the boat, she jumped about 6 feet in the air. It was such an incredible sight. I remember the big smile on Ben's face, our captain. You know when excites the guy who does this every day, it's special.
















Here is the big haul of the day. She is 5 feet exactly and weighs 110 pounds. Isn't she incredible. I fought her for about 15 minutes, before landing her. My arms were killing me. It was a blast. Captain Ben brought his gun over and shot her before we brought her on the boat. They can cause a lot of damage at this size.
















Doesn't this picture look fake? It isn't. It was so cool. Yea, the weather was nice too, but the sights were incredible. Another fishing boat in the foreground with a volcano in the back ground. The volcano is named Mt. Edgecumbe.

This is an awesome place to vacation. I suggest everyone check it out at least once!

Just my opinion,

Jeff Cameron

ARIZONA LOOSES 6,700 JOBS IN MAY, 4.4% UNEMPLOYMENT RATE

We continue to shed jobs here in the valley of the sun. Job losses are spreading from the construction industry to the rest of the economy. However some areas show strength. The housing industry is primed for recovery as we slowly go through the excess inventory. Home construction should hit a bottom this year and begin to move up next year. The question is how bad does the recession get before housing turns fully?


Arizona Department of Commerce, Research Administration
Nonfarm Employment Down by 6,700
in May; Unemployment Rate at 4.4%
Arizona’s seasonally adjusted unemployment rate rose to 4.4 percent in May, a one-half of one percentage point increase from 3.9 percent in April. The national rate increased from 5 percent to 5.5 percent during the same time period. The civilian labor force in the state increased and employment fell, according to local area unemployment statistics. Arizona’s economy lost 6,700 nonfarm jobs in May for an over-themonth percentage change of -0.3 percent. Based on the 10-year average, a small gain was expected during May (+0.1%). http://www.workforce.az.gov/admin/uploadedPublications/2711_PrJune08.pdf

FEDS ARREST EX-BEAR STEANS EXECS OVER HOUSING COLLAPSE

I have spoken with many people who don't understand how investment bankers in New York caused the housing crisis. Let me give it a quick whirl.

As property values continued to climb in the early part of this decade, the risk for a sub prime loan temporarily diminished. Even if the borrower was in trouble, there home had appreciated and they could sell, payoff their mortgage and put some money in their pocket. Investment bankers approved more and more risky loans from lenders. Lenders created all kinds of funky mortgages. They were making a ton of money and every thing smelled of roses.
Investment bankers were selling these mortgages to all kinds of investment companies: Insurance, retirement, etc... There was a certain amount of risk given to a sub prime mortgage.
The demand for these investments grew. The investment banks said to the lenders, give us more. So, they created more niche products. Basically just started giving anyone a mortgage with out checking their income. The biggest problem was all the "investors," they were buying with no money down. They had no ability to repay the loan without a tenant.
The the wall came tumbling down. 10's of thousands of homes were bought by "investors" that could not make the payment. Thus where we are today.
What was criminal? The investment bankers were not disclosing to their investors, buying these loans, how the level of risk had increased. They sold them as mortgage backed securities. Not as "super crazy and risky securities."
In defense of the investment bankers, they may not have been aware of the fraud being committed by all the unlicensed loan officers.

just my opinion!

Jeff Cameron

Ex-Bear Stearns Execs Arrested
By TOM HAYS,
Posted: 2008-06-19 09:24:51
NEW YORK (June 19) - Two former Bear Stearns managers have been arrested, federal authorities said Thursday, becoming the first executives to face criminal charges related to the collapse of the subprime mortgage market. Matthew Tannin was taken into custody outside his New Jersey home on Thursday morning and Ralph Cioffi was arrested at his New York City home, the FBI said. Authorities in Brooklyn are expected to release details later Thursday on the case against the men, who are ex-managers of Bear Stearns Cos. hedge funds that collapsed last year. A law enforcement official told The Associated Press that an indictment naming the men was the result of a yearlong federal securities fraud investigation. The former executives are suspected of misleading investors about the risky subprime mortgage market, the official said, speaking on condition of anonymity because the outcome of the investigation is pending. http://money.aol.com/news/articles/_a/ex-bear-stearns-execs-arrested/20080619070909990001

NOT WHAT THE REAL ESTATE DOCTOR ORDERED, HIGHER INTEREST RATES

As high oil prices are sending inflation into every aspect of our economy, interest rates tick up. The entry level buyer is driving the recovery efforts in our real estate market and higher rates take away their purchasing power. The reality is that until our market is fully recovered we are going to be dependent on lower rates to bring in first time home buyers and investors. Rates are then tied to inflation which is all about oil.
It is time for the US government to do something about oil prices. These high prices are driven by speculators with no place to make a profit today, so they buy oil. Let's hit on both the supply and demand side. Increase drilling, open markets, but drill smart and keep the environment in mind. Increase incentives for research to lower our dependence on oil. I would love to see a candidate for the President of the United States come out with a 10 year plan to cure our addiction!

Just my opinion,

Jeff Cameron

article on interest rates:
Mortgage Applications Plunge on Soaring Rates
By Reuters 18 Jun 2008 07:04 AM ET
Applications for U.S. home mortgages dropped for the fourth week in the last five as soaring rates on standard, fixed-rate mortgages choked off refinancing opportunities, an industry group said on Wednesday. CNBC.com
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity fell 8.7 percent to 508.4 in the week ended June 13.
The MBA's seasonally adjusted index of refinancing applications tumbled last week by 15 percent to 1,378.6 -- its lowest since July 2006.
The gauge of loan requests for home purchases declined 4.3 percent to 360.2.
Fixed 30-year mortgage rates averaged 6.57 percent in the week, up 33 basis points from the prior week and the highest since July 2007.http://www.cnbc.com/id/25237087

HAPPY FATHER'S DAY!

HAPPY FATHER'S DAY!

If you are not a Father, then you have a Father.

For those of you who still have a Father to spend today with, be thankful. I know there are many, as I, who have lost their Father. So many parts of our daily life we take for granted until they are gone. Take today and reach out to your Father and make sure to express your love for him. Today, I will take some time, and think about my Father. Refresh those old memories, fire up those synapses and keep my memories from fading out. Bring my Father back to me.

Father's Day for me, for so many years, as a Father of 4, has been about me, "this is my day." Time for relaxation, no work, time with the family...just a good old fashion down day. But this year in reflecting on my Father, many of the lessons he taught me came back. I also realized how, though my Father loved me dearly, he was not around much in my early years. I was very lucky to spend my college years with him and catch up on what I had missed. During this time of reflection, I realized this year I was going to look at Father's Day a little differently. This year I am focusing this day on how I can be a better Father. I want to create those memories I have of my Father, in my children. I will: be a better role model; spend more quality time with my children; play with my children; lead by example; treat my wife nice and show them how to respect a spouse; teach my children; and when needed discipline my children. This Father's Day, I am on a mission to be a better Father.

I hope you all enjoy this Father's Day, for once it is gone, it can't be replaced.

HAPPY FATHER'S DAY TO ALL OF YOU!

Jeff Cameron

I sent this email out yesterday, the response was tremendous. Thank you ALL! I know many of you have SPAM filters that catch my email. Therefore, I wanted to post it here to share with those who missed the email.

McCormick Ranch Home Just Listed

The Cameron Team just listed another home.
This gorgeous home is located in Heritage Village of McCormick Ranch. With 4 Bedrooms and 2 Full Bathrooms and 2386 sq ft and a 2.5 Car Garage.

Located at 8018 E. Via Marina in Scottsdale, AZ 85258.
Check out the photos and virtual tour here.

MOTIVATED SELLER has priced this home to sell!This Golden Heritage home is located in Heritage Village in McCormick Ranch. With 1/4 of an acre of land, this home sits on a beautiful cul-de-sac lot! Many improvements will be found in this home such as: fresh interior paint, Anderson doors, New appliances, remodeled master bath with stone counters and jetted tub, tile counters in the open kitchen and more... Beautiful back yard offers extended patio, misting system, fountains and a lovely pool to cool off in. The yard has mature landscaping and a grassy play area for the kids or pets to play. The garage is oversized 2.5 car garage and offers a work bench and storage.

Contact The Cameron Team to set an appointment to see this beautiful home or find out more information about this home or any others.

METRO PHOENIX HOME SALES AND TRACKING

Another week and another good week of sales. Last week I recorded 1,242 homes sales. Not the best week of the year, but another in the mid 1,200's. The 4 week moving average came back above 1,200 to 1,204. It had dropped due to the Memorial Day holiday week, where sales slacked off. Again, the weekly sales are at the highest point in over 2 years. This is great news as our market moves out of the mess it is in. We are starting to see multiple offers on homes again, only those priced right. The problem is still TOO MANY SELLERS don't understand they are over priced. The BEST thing they can do for their value is take the home off the market. The quicker we get to a supply and demand balance, the sooner prices stop sliding. It is worst in Scottsdale. I have been looking for a buyer looking in the $800,000 to $1,250,000 range. I see nice homes that are not selling, then I see similar homes priced $100,000 to $200,000 more. I think, "boy if they would just get out and see what I see." If they did, then they would know their choice is to lower, take their home off the market OR sit there and hurt us all by increasing the glut of "homes that will not sell!"
Pending home sales are in the 8,000 range today. I have only recorded 5 weeks where Pending home sales has been in the 8,000's since October of 2005. Another great stat showing the market is turning to the positive.
What is selling? When I look at the market, 45% of homes are vacant. That is really the only way to track REO and SHORT SALE properties, because agents don't fill out listings properly. I know not all vacant homes are REO and SHORT SALES, but not all SHORT SALES are vacant. So, it is the best barometer. With 45% of the Active listings being vacant, 65% of the Pending and Solds are vacant properties. What does that tell us. It tells us buyers are choosing those vacant homes over owner occupied homes at a ratio close to 2 : 1. Usually the owner occupied homes are in better shape and show better than do vacant homes. Buyers must be selected the vacant homes due to value. VALUE = PRICE! We can look and study all day, we still come back to what we all know, PRICE IT RIGHT AND IT SELLS!

Just my opinion,

Jeff Cameron

This weeks Numbers:
Single Family Inventory 43,255
Months of Inventory based on Pending 5.5
Pending Home Sales 7,934
Last 7 days Sales 1,242
4 week moving average Pending Home Sales 7,815
4 week moving average Last 7 days Sales 1,204
4 week moving average Home Closings 1,147

DISCOVERY CENTER, GATEWAY TO THE MCDOWELLS

The Discovery center is planned on the land the city is buying from Toll Brothers, located at Thompson's Peak Parkway and Bell Road. It is just north of McDowell Mountain Ranch, east of
Wingate Ranch and south of Silverleaf. This is the piece of land the city is paying Toll Brothers some $82 million, when Toll paid some $60 million for this land and another bigger piece. They are building Wingate Ranch on the other piece. They basically got the land for Wingate Ranch for FREE, but are charging up to $1.5 million dollars for the production homes they are building on the site.
Ideas for the discovery center will be available for the public view and input. Please enjoy the article below from the AZ Republic.

Discovery center plan goes public
by Lesley Wright - Jun. 9, 2008 12:06 PMThe Arizona Republic
SCOTTSDALE - Scottsdale residents will get their first look this week at a consultant's study of the Desert Discovery Center proposed for the Gateway entrance to the McDowell Sonoran Preserve.
Scottsdale officials matched private funds for the $73,000 study to survey residents and tourists and evaluate support and ideas for the center.
The initial idea first floated in 1998 but was pushed aside for economic reasons. It got new life last year when the city acquired 400 acres of land for the Gateway entrance into the preserve at Bell Road and Thompson Peak Parkway.

The $15-million Discover Center concept includes an interpretive center, a café, a concierge to coordinate hikes and horseback rides and two amphitheaters.
That is where agreement about the center ends.
Tourism officials, enthusiastic about the center's eco-tourism potential, would like to see a "wow factor," with high-tech exhibits such as a virtual recreation of a monsoon storm.
Environmentalists want the mountains to be the primary draw, with the discovery center serving as a low-key educational center.
Political tensions escalated recently when the non-profit McDowell Sonoran Conservancy proposed taking over management of the project from the city.

US EXPORTS SET NEW RECORD, BUT OIL SQUANDERS

The week dollar has boosted exports to an all time HIGH. Awesome for the exporters. But oil imports wiped the whole gain out. That was on an average price of oil below $100 per barrel.
the deficit was $60.9 Billion dollars, the highest in over a year. People we just gave one of our $60 billion companies to the rest of the world Or 2 $30 billion companies Or 6 $10 billion companies Or any mix. The trade deficit is what countries use to go to war over. One country would have the best economy and the others would have to send them all their gold. They then fought to get it back.
We need to fight to stop the Bleeding of America's savings. We can fight by becoming Energy Free. We can fight by having a better Education System. We can fight by ending the thoughtless purchase of worthless trinkets imported from evolving companies. We can fight by recognizing the problem and working together to fix the problem.

Trade deficit jumps to highest level in 13 months
By MARTIN CRUTSINGER,
AP
Posted: 2008-06-10 08:53:15
WASHINGTON (AP) - The trade deficit jumped to the highest level in 13 months in April as America's bill for foreign crude oil soared to an all-time high.The Commerce Department reported Tuesday that the gap between what the nation imports and what it sells abroad rose by 7.8 percent to $60.9 billion, the largest imbalance since March 2007. The April deficit was $4.4 billion higher than the March imbalance of $56.5 billion.The deterioration in the deficit was driven by a $4.3 billion increase in crude oil imports which jumped to a record $29.3 billion in April, as the average per barrel price rose to an all-time high of $96.81.Oil imports are expected to climb further in coming months given that crude oil has continued its relentless rise and is now trading above $130 per barrel.U.S. export sales totaled $155.5 billion in April, up 3.3 percent to an all-time high, reflecting big gains in sales of commercial aircraft, farm machinery, medical equipment and computers. But this increase was swamped by a 4.5 percent rise in imports, which also set a record at $216.4 billion, reflecting the huge increase in oil as well as big gains in imports of autos and consumer goods.
Read the full article: http://money.aol.com/news/articles/_a/trade-deficit-jumps-to-highest-level-in/n20080610085309990019

PENDING HOME SALES JUMP

I have been reporting this for a while. Why do they report April numbers in June? May numbers are even better. It was helpful when the market was slowing, but that things are picking up, it is slowing the recovery.
Here in the Metro Phoenix area, our MLS is showing 7,863 single family homes in the Pending status. That is the highest number in over 2 years. If more buyers were aware of this, I believe more buyers would get off the fence. Sales are also at their highest level in 2 years. Our next goal is to get closings to that level. Closings are dragging due to the short sales, they take 4 to 6 months to close.


NAR: US pending home sales move higher in April
AP
Posted: 2008-06-09 15:24:31
NEW YORK (AP) - Pending home sales unexpectedly increased in April to the highest reading since October, an industry group said Monday, but they remain more than 13 percent below a year ago. The National Association of Realtors' seasonally adjusted index of pending sales for existing homes rose to 88.2 from a March reading of 83.0, the lowest since the index was started in 2001. The index stood at 101.5 in April 2007. Wall Street economists polled by Thomson/IFR had predicted the index would remain steady at 83. A reading of 100 is equal to the average level of sales activity in 2001. The April index in the West climbed 8.3 percent from March and is 4 percent higher than a year ago. In the Midwest, the index jumped 13 percent, but is still lower than in 2007. The South posted a 4.6 percent gain, while the Northeast index declined 1.9 percent. Read the full article: http://money.aol.com/news/articles/_a/nar-us-pending-home-sales-move-higher-in/n20080609152409990024

Rates

30 year fixed 6.125%
15 year fixed 5.5%
5 year ARM 5.125%

FHA 30 year fixed 6.25%

Jumbo 30 year fixed 7.625%

Rates change often. Please call to get your personalized rate quote.

Staci McCarville
Indymac Bank
480-538-1402

Short Sale - Sold & Closed!

The Cameron Team is proud to announce we Sold & Closed another home as a Short Sale. We negotiated with the bank to get acceptance for a purchase price of less than what was owed.
This home is in Candlewood Estates in North Phoenix on East Helena Drive.

If you or someone you know is considering doing a short sale or pre-foreclosure sale, please feel free to contact us for more information.

STOCKS CRASH, OIL SPIKES

If anyone was not sure the run on oil is investor driven and not demand driven, then today should make it clear to them. Investors dumped stocks and bought oil futures. Oil is up $17 in 2 days.

I have heard the argument, only so much oil is produced and thus used; there is no oil speculation going on. Here is what happens: Let's say we need 100 widgets for July, we produce 100 widgets for July. We have harmony and prices are driven by the market and at market value. But no, hedge funds(the same guys that caused the real estate boom and bust) buy the futures of the widgets for July in June. July comes along and the buyers for the 100 widgets buy from those hedge funds. This is why the price is artificially HIGH!

New Listing In McDowell Mountain Ranch

The Cameron Team just listed another home in McDowell Mountain Ranch!

This Beautiful Home Has It ALL!! *Wood Floors *20in Faux Travertine Tile *Upgraded Carpet *Raised Panel Cabinets w/Handles & A Display Cabinet *Granite Counters *Stainless Steel Under Mount Sink *Pot Rack *Upgraded Lighting *Stacked Stone Island with Wood Countertop *Stainless Steel Appliances *Gas Cooktop *Great Bath with Marble Top *Separate Tub & Shower *Flushmount Surround Speakers *Large Flagstone Patio *Outdoor Beehive Fireplace *Built-In BBQ *Grassy Play Area *Mountain Views *Spacious 3 Car Garage *Water Softner *Laundry Room w/Cabinets & Shelving ~ALL WITHIN THE MASTER PLANNED COMMUNITY OF MCDOWELL MOUNTAIN RANCH - WITH SO MUCH MORE TO OFFER!~

See the virtual tour and more pictures.

If you or someone you know would be interested in this home or any of our other listings, please contact us for more information. Contact The Cameron Team

MAY UNEMPLOYMENT REPORT, JUMPS TO 5.5% - LOSS OF 49,000 JOBS

Better than expected jobs report. Forecasts were for a loss of 60,000 jobs and the report shows a loss of 49,000. What we need to look at is any revisions. Those should be available soon.

The unemployment rate jumps to 5.5%. What is up there. Did a bunch of Americans get off the couch and decide to look for jobs last month?

The revisions are:

March from 81,000 to 88,000 job losses.
April from 20,000 to 28,000 job losses.

On top of the 49,000 job losses we had another 15,000, therefore there are 64,000 less jobs than we thought yesterday.

Let's see how the market reacts??????????????

read the jobs report here: http://www.cnbc.com/id/25000080

May Monthly Email Winner

Our May Monthly Email question was "Where did Indiana Jones get the name Indiana from?" The correct answer was from his dog.

We have a winner from the people who answered the question correctly and it's John Antol. John will receive dinner and a movie provided by The Cameron Team. Two movie tickets to Harkins Theatres and a $50 gift card to the White Chocolate Grill in Scottsdale. Congratulations John!!

Keep your eye out for our June Question and you can be a lucky winner too!

CONSUMER REMAINS STRONG, RETAIL SALES UP IN MAY

The consumer is looking strong for May. Preliminary results from retailers are looking good. You can read the stats below.
I have had a theory about this whole situation. It goes something like this: The amount of people delinquent on their mortgage as a percentage is at its highest point in 30 years. I believe today we have the highest actual level of foreclosures, due to more homes today. Many of the home owners, who have given up on their home and selling in a short sale or going into foreclosure, simply are not making their monthly payment. I home owner with a $2,000 (for example) payment, where the new adjustment is now $2,800(for those with mortgages adjusting) stops making the mortgage payment. For 4 to 10 months they save $2,000(what they were paying). That in turn gives them $2,000 more to spend on groceries and gas and whatever. This is why our economy is only slowing and not dropping off a cliff, in my mind.
I was just in California, on the strip at Seal Beach I got my hair cut. My stylist had just sold his home in a short sale. His old payment was $3,000, he is renting in the same complex for $1,500. His rental unit is nicer than the one he owned. He is now saving $1,500 per month and since he is American, it will be spent!


Consumers Return to Malls in May
AP
Posted: 2008-06-05 11:02:53
NEW YORK (June 6) - U.S. consumers stepped up their shopping in May after tax rebate checks hit mailboxes, giving many of the nation's retailers stronger than expected sales for the month. Still, there were signs that many people are still focusing on necessities such as food and gas.

Discount and lower-priced stores such as Costco Wholesale Corp. and Wal-Mart Stores Inc. were again among the strongest performers. Analysts had predicted a gloomy May, with consumers contending with a rising cost of living, declining home values and tightening credit. However, according to a preliminary report from Thomson Financial, of 27 retailers reporting, 13 beat expectations, 3 met expectations and 7 missed. Read the full article here: http://money.aol.com/news/articles/shopping/_a/consumers-return-to-malls-in-may/20080605073909990001

OIL DROPS TO $122

We have seen the dot com bubble grow and burst. We have seen the housing bubble grow and burst. Has the oil bubble grown enough, is it time to burst. I sure hope so. Talking about American greed. Investors buying up oil futures and running up the price are un-American. This is hurting everything right now, plus sending an additional TRILLION dollars to the OPEC nations in profit. How much of that money will end up in the hands of terrorists? The extra income is supporting regimes in Venezuela, Iran and Russia from dealing with the west. They don't need us, they are getting our money through oil.
OK, what just happened. I started off mentioning oil and went into a tirade.

Let's hope this bubble burst too, I would like to see oil back between $40 and $75 per barrel.

Just my opinion,
Jeff Cameron

Free bag of Flat Earth "Crisps" at SUBWAY

I LOVE these chips and they are free at SUBWAY, just bring in this Coupon!

METRO PHOENIX HOME SALES FOR THE WEEK ENDED JUNE 2, 2008

The numbers are looking better and better after last weeks pull back. We have to expect a holiday week to be light on the sales, especially one that has a holiday on Monday.

This last week included an end of the month, so we experienced a large reduction in inventory levels. The total inventory of SFH (single family homes) dropped by 1,112 to a total of 43,282. The only time I have registered this large of a drop over the last 3+ years of tracking is during the last week of the year, many agents write their listing agreements to expire at the end of the year. The inventory levels are at their lowest level since the first week of the year, and then after that the lowest since April 2007. Supply is still an issue, but instead of getting worse it is slowly improving. With all the foreclosure homes coming on the market, the logical answer for this is that homeowners are taking their home off the market. I would suggest that those homeowners who understand an overpriced home hurts the market right now, are taking them off the market. THANK YOU!

THE GOOD NEWS IS ABOUT DEMAND! Yes, demand continues to improve. I registered 1,279 home sales last week. That is the highest level in over 2 years! Yes, since the week of May 15, 2006, last week was the highest recording of home sales.
Not only do the weekly numbers show this strength, but the 4 week moving average is at nearly 1,200 and we have been experiencing the highest 4 week moving average since May of 2006. Why a moving average? The moving average takes the last 4 weeks sales and divides it by 4. This evens out any dramatic ups and downs, for example the week before last was a holiday week and thus lower. This is a better number.
After meeting with some investors last month, I added a new stat. That is the closed homes. This one varies more dramatically week to week. Many home buyers like to close at the end of the month. I was surprised to see how many close each week, since I thought most everyone closed at the end of the month. The home closings last week reached 1,570, the highest level since July of 2007. More importantly, the 4 week moving average was at 1,146, the highest number since September of 2006. The closings will lag behind the sales for a couple of reasons. First, since we have come out of a period of such low sales, it takes a while to catch up. Second, since many of these short sales take 3+ months to close, that will also delay the catch up period. However, the number is growing nicely and again the best since September 2006!

These are great numbers, but what do they mean? The market is improving. Great can we raise the price of our home? No, on the contrary, prices will continue to slide. But this tells us the slide is nearing a bottom. Most of the sales are happening away from the city centers, like Scottsdale for instance. Most home sellers in Scottsdale have not lowered their price to where the market is. I believe, as Scottsdale was last to loose value, it will be last to bottom. Most of the new financing is available for the entry level buyers. We are seeing multiple offers for some properties priced under $300,000.

Where is the bottom? We will only know when the bottom has hit when we see it in the rear view mirror. In some areas, I believe we will be in an "over sold" capacity. What I mean by "over sold," is just the opposite of what happened in 2005-2006. Then homes were "over bought." Prices were driven to unrealistic values. Now, I believe homes will be driven unrealistically low. We can already find places where you could not build a home for what they are selling for today. That is "over sold."

This weeks Numbers:

Single Family Inventory 43,282
Months of Inventory based on Pending 5.8
Pending Home Sales 7,500
Last 7 days Sales 1,279
4 week moving average Pending Home Sales 7,698
4 week moving average Last 7 days Sales 1,198
4 week moving average Home Closings 1,146

Below are some graphs I created to demonstrate those numbers. You can click on the graph, it will get bigger and easier to see.

The First Graph is SFH sales, comparing the last 6 years. Look how the line this year is straight Up! I believe we will not see such a soft off season this year as buyers sense the bottom and jump into the market.
The Second Graph shows inventory levels over the past 2 years. See how we uncharacteristically are headed down since March, unlike other years.














Graphs 3 and 4 are below. Graph 3 shows how many months of supply their are based on Pending home sales. Numbers below 6 months would lead into a seller's market. But we need to know our numbers. When I say that, I mean understand there are many Pending home sales that are short sales. They take much longer to close and thus show a larger number of Pending home sales.
Graph 4 is 3 lines. One is weekly home sales, you see how jagged that is. The next is the 4 week moving average of weekly home sale, a more evened out line. The big drop 2 weeks ago in home sales was due to the holiday. The last line is the 4 week moving average of home closings. That is rising nicely as we are only about 3 months into the recovery in Demand.

If you have any questions about these numbers, the graphs, the market or about buying/selling a home; please contact me or a member of our team.

Thanks,

Jeff Cameron

The Cameron Team

480-502-7699

jeff@thecameronteam.com

DMHS-McDowell Mountain Ranch

Parents and students looking for information on what high school your child will be attending now that boundaries have been changed?


The Complete list of the top 1300 High Schools in the US compiled by Newsweek. Take a look at number 900!

Susd.org Link to the Scottsdale Unified School District.

DMPTO.ORG Link to the DMHS PTO website.