Posts by: ARMLS

What are flexmls Banners?

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When a listing: is new, has a price change, comes back on market or another factor – it is noted in flexmls search results. These events can also trigger the listing to be included in auto emails. These events are often displayed as banners and they last for 72 hours or until another change occurs resetting the clock and displaying the latest change. If you’re going to apply multiple changes to a listing, it is wise to consider the order in which you execute the changes as the last thing you do with determine the banner.

Common banner triggers:
New Listing
Price Reduced
Price Change
Status Change
Back on Market

How to Remove a Lockbox Shackle

Did you know the shackle can be completely detached in the field to accommodate unusual door knobs? It’s easy and works for both ActiveKey and eKey. Here’s how:

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1. With the ActiveKey or eKey, release the shackle.

2. With the shackle released, start the shackle release  process a second time.

2. With the shackle released, start the shackle release process a second time.

3. When the shackle is being released the second time, apply upward pressure to remove the shackle entirely.

3. When the shackle is being released, apply upward pressure to remove the shackle entirely.

Are You Using The Default Map in flexmls?

There might be a time saving tip you’re not using – the default map. Begin a map search in your neck-of-the-woods. Instead of starting out with the full map of the Valley in a map search, a default map starts you out in a section of your choice. Most Subscribers work a territory, making the default map a great time-saver when starting searches in your area. This setting can be found in Preferences > Default Map.

Before:
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After (setting the default map to north Mesa or anywhere you like):
default-map-after

Hitting the Mute Button

Tired of seeing clutter on Twitter? Now you can mute tweets coming from FourSquare and other annoyances on your Apple devices with Tweetbot (not yet available for Android). Unlike other apps, Tweetbot looks at the method of posting rather than the user posting the tweet, i.e. which service is posting on behalf of the user. Check-ins and other automated junk could be a thing of the past.

Taco-bell

Using Tweetbot, you could mute Foursquare without having to block your friend Juan. You’ll still see Deborah’s tweets but not her Klout activity. If you have an Apple device and use Twitter, give it a try:

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Work Better with Two Monitors

Having more than one monitor makes it possible to look at your inbox and calendar at the same time. It makes cross-referencing two contracts much easier. Having the MLS open on one screen while typing an email response to a client in Gmail on another screen becomes a breeze. Watch this short video:

How’s it done? Cost is no longer prohibitive, high quality monitors can now be purchased under $99. Your computer operating system and hardware must support having multiple monitors. The best way to determine this, and to proceed with setup, is by contacting your IT person.

Valley Analyst Talks June Numbers

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Tom Ruff

Tom Ruff of The Information Market gave his monthly perspective on the residential market in this month’s issue of STAT (download here). Tom’s commentary is below but you’ll want to download STAT (PDF) to see the charts referenced.

Boring, flat, tedious, tame, humdrum, and meh are just a few of the terms local writers have used to describe the first six months of our housing market. If our current housing market were a color, it would most likely be beige. Home sales volume for the first half of 2014 was 16.4% lower than the same period last year. There were 47,012 closed sales from January through June 2013. In the first six months of this year, only 39,306 closed transactions were reported.

Beige

Beige

The first six months of 2014 were characterized by low demand and a supply that typically left in its a wake a market which slightly favored the buyer. The median sales price in June was $195,000, 5.4% higher than where we began the year at $185,000. As we have cautioned a number of times this year – we are not viewing this increase as an indication that home values are appreciating, but rather as an indication of the homes that are selling. It is this pundit’s opinion that home prices for the first six months are best described as stable and flat.

Midyear Data Points of Interest and Emerging Trends

Supply: The imbalance between supply and demand is closing, not because demand is improving, but because supply is declining. In June of this year there were 8,677 new home listings. This is the lowest number of new listings for the month of June in the 14 years ARMLS has compiled this data. There were 6.2% fewer new listings this June as opposed to last year for the same period. It will be interesting to see how this metric progresses over the coming months.

Interest rates: Between January 2013 and January 2014 we saw the average 30-year fixed interest rate rise from 3.41% to 4.43%, an increase of over 1%. The largest portion of this increase occurred in May and June, just over one year ago. This year we’ve seen interest rates move subtly and consistently downwards. As stated, we began January of this year with an average 30-year fixed rate of 4.43%. The last reported rate from Freddie Mac on July 3rd of this year was 4.12%. This is the first time this year where interest rates are lower than last year for the same period (on July 1, 2013 rates were 4.37%).

Foreclosures: There were 10,887 distressed homes in Maricopa County in June of 2013. The amount of “shadow inventory” over the past year has declined 40.5%. We currently have 3,995 residential properties in foreclosure and 2,481 residential proper ties that are bank owned. Simply stated, 6,476 residential properties in Maricopa County are currently defined as distressed. The total number of distressed properties in Maricopa County declined 4.7% month-over-month, indicative of the rate of decline each month this year. I see this trend continuing through the remainder of 2014. As your point of reference, the number of distressed properties in Maricopa County peaked in February of 2010 at 62,123.

Market Composition: While demand has been lacking this year, the composition of the sales taking place paints a picture of marked improvement. We’re seeing fewer distressed sales and fewer investor purchases translating into a higher percentage of homes being purchased by traditional buyers and a higher percentage of the homes they are purchasing as normal/non distressed buys. This change in the composition of homes purchased is best exemplified in two metrics, year-over- year short sales and year-over-year investor activity. In June of 2013 there were 1,049 short sales, this year the number of short sales fell 73.9% to 274. As for investor activity, the table below details the consistent decline over the past year in the percentage of homes we define as investor purchases. As you can see, there were 1,033 fewer investor purchases this June.

Better-chart-STAT

New Construction: Of all the facets of our real estate market in the first half of 2014, the number of new builds being sold without a doubt has been the most disappointing. In a year where most experts expected to see new home construction improve, the opposite has occurred. So far this year there have been 4,117 new builds sold compared to 4,712 same period last year (12.6% lower). What makes this number most disappointing is that 2013 was considered a very weak year for new construction. However, under the category of silver lining, the number of new homes sold in June 2014 (819) surpassed the total number of new homes sold in June 2013(754) at an 8.6% increase. This is the first time we’ve seen a year-over-year improvement this year. Could this be an emerging trend? We’ll keep you posted.

Looking Ahead: The last four months has seen the Pending Price Index (PPI) project the median sales price about 1% below the final reported number, this trend continued in June where we projected the median sales price to be $192,000 with the actual median price coming in at $195,000. Our sales volume projections came in as expected with the sales volume in June slightly lower than the sales volume in May. In July the Pending Price Index expects the median sales price to rise again projecting a median sales price of $197,000. We also expect sales volume to decline again in July with the expected volume to come in around 6,600. As a note of caution, when next month’s sales numbers are reported, expect a large decrease in year-over-year comparisons. This decrease is because July of 2013 was a banner month where 8,216 sales took place. July 2013 sales exceeded our expectations as buyers rushed to close while interest rates were rapidly rising.

Download STAT (PDF)
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