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.
[tags]Wittmann, Maricopa, Phoenix area real estate[/tags]