Yawn . . . just another MAMMOTH month of sales and closings here in Terravita. What else is new right?
 
By now you have all heard how “hot” the Greater Phoenix real estate market is.  Well just how "hot" is the Terravita real estate market?  The Terravita Contract Ratio is one metric that can tell us just that.  Some of my long time readers will recall that in the past I have called this the “Terravita Heat Index”, and in a market like this that is exactly what it is!
 
The Contract Ratio measures the number of homes currently under contract (pending) relative to the number of active listings.  The higher this number, the greater the buying activity in an area.  In Terravita, when this number moves above 40, it is considered a “seller’s market”, and when it moves above 60, it is evidence of what we call a “buying frenzy”.  In all of 2012, the Contract Ratio did not increase over 60.

Terravita Contract Ratio

The Terravita contract ratio spent most of the month of April hovering around 80 with periods that hit 100.   The Terravita market is hot!
 
You can still get the occasional great deal though.  We sent out a notice yesterday about an impeccable series 3 home that is located close to the club, with a bright south patio, and no homes behind, that needs to make a quick sale, so we are pricing at just $191 per foot!   This home won’t be open to the public until Friday, but as always my buyers can get early access. Just let me know if you or someone you know is interested. Below are the details:

Amazing Value
Terravita Open House

$191 PER SQ FT!

THE LOWEST PRICE PER FOOT IN TERRAVITA.  IMPECCABLY MAINTAINED AWARD WINING NIMBUS PLUS CASITA WITH 3 CAR GARAGE, SUNNY PRIVATE SOUTH PATIO, AND CLOSE TO THE CLUB AND STORES.

 

Soaring 14 Foot Ceilings and Clerestory Windows



  Fantastic Outdoor Living with Pebble Tec Pool and Raised Spa and Patio

Award Winning Nimbus Floor Plan with 3 Car Garage and Sunny, Private South Patio

This IMPECCABLY MAINTAINED 3 bedroom Nimbus floor plan was voted best of America Living Award for it’s SOARING 14 foot ceilings with clerestory windows, island kitchen wide open to the family room, and large casita. Great outdoor living with large south back yard with covered patio,Pebble tec pool and raised spa and deck with water feature and multi-color fiber optic lighting, all surrounded by tons of Kool Deck, AND all remotely controlled from the house. Warm Earthtone tile throughout, granite counters, plantation shutters, coffered ceilings, Kohler Sea Dream Whirlpool tub, upgraded insulation to R-39 ceilings, R-21 in sidewalls,tiled shower surrounds and bath counters with cast iron drop in sinks, soft water and reverse omosis, extra laundry cabinets and sink, garage storage and access door, screen doors on every entrance, bronze cabinet pulls, Honeywell Programmable thermostats.

- Large, island eat-in kitchen with breakfast bar, gas cook top, granite
  counter tops open to the family room

- Large casita with private courtyard

- Large South backyard with huge covered patio, Pebble Tec pool and
  raised spa and deck, water feature, and tons of Kool deck patio
  areas for entertaining

- Spacious 3 car garage with garage storage and access door

Click Here to See a Photo Tour of Home: Photos
Click Here to See the Full MLS Listing: MLS or MLS
Click Here to See the Floor plan of the Home: Floor Plan

Open House

     When: Friday May 3rd from 1:00 until 3:00 pm
     Where: 6623 E. Whispering Mesquite Trail
     What: 2,874 Sq Ft,  4 Bedroom, 3 Bath, Nimbus + Casita Model
     How Much: $550,000