This morning's post lamented the loss of yet another for sale sign on a rural land listing. It happens, and is part of what comes with listing remote land parcels. Such is why we go out every few weeks for "sign checks" (that, and it's an excuse to take the Jeep into four-wheel drive territory).
On the same trip through parts of the West Valley, we noticed some visual indicators of the general state of the Phoenix real estate market.
Just so you don't think the photo above is an exception to the rule, here is another corner just a mile or so down the road…
Both of these corners are located in the Wittmann area. Wittmann is a small town northwest of Phoenix (about half-way between Surprise and Wickenburg). Located in one of the Phoenix growth corridors, the home sales and valuations exploded during the big 2005 run up. There are still a lot of new homes being built, as well as a lot of homes sitting vacant….
Wittmann has been hit particularly hard, as have some other areas the generally lie outside what is normally considered the "Phoenix metro area". There are currently 247 homes listed for sale in Wittmann. Four (4) were sold in the previous 30 days. That, oh avid reader, is a 62 month supply… (For comparison, Maricopa–another outlying casualty–currently has "only" a 17.7 month supply of listed homes.)
If you want to sell a home in Wittmann, it's time to get *very* creative, and *very* aggressive on pricing.
Technorati Tags: Wittmann, Maricopa, Phoenix area real estate
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Mark A. 09.16.07 at 4:23 pm
That right there Jay, reminds me of election days in my town. Candidates plant their signs at the polling places, to leave a last second impression on voters: PICK ME, PICK ME.
For Sale Sign 09.17.07 at 12:15 pm
Sweet - All you need now is to make sure that your sign is the largest one in the pile.
Late Night Austin Real Estate Blog 09.17.07 at 9:48 pm
62 months that is insane. Do you see a light at the end of the tunnel at this point? Or do you think things are going to get worse over the next 6 months.
Late Night Austin Real Estate Blog 09.17.07 at 9:50 pm
Oh my picture showed up that is kind of cool. Except I actually hate that picture. I think I look smug and smarmy.
keith wins 09.23.07 at 10:56 pm
Wonder what blood hound realty reckons??
http://www.phoenixrealestategu.....-hound/203
Jay - The Phoenix Real Estate Guy 09.24.07 at 12:43 am
“Wonder what blood hound realty reckons??”
Reckons about what? Signs in Wittmann??? The absorbtion rate in Wittmann? I suspect since Greg doesn’t work that area, he probably reckons nothing.
Other than sounding utterly foolish, what is your point? Why link to my own post from 10 months ago? Surely there is plenty of fodder out there for the bubbleheads to lash out at without needing to dredge up 10 month old posts.