| Date | Action | Price |
| 12/1999 | Purchased from builder | $204,000 |
| 4/2005 | Sold | $390,000 |
| 11/2005 | Sold | $519,000 |
| 1/2008 | Listed in MLS | $320,000 |
I see a lot of interesting points in these 4 simple rows.
1. The appreciation from 12/1999 to 1/2008 represents a 4.5% annual appreciation rate. That is just about equal to the long-term rates for Phoenix. It's as if the craziness of 2005 never happened!
2. This assumes the home will actually sell for $320,000. That might be a tall order in today's market. If it actually sells for 93% of that figure ($297,600), then your appreciation rate drops to 3.8%.
3. The home appreciated $129,000 in 7 MONTHS in 2005. That's 33%! Yep, sounds about right.
4. I was shocked that somebody paid $519,000 for this home in 11/2005, since by then the party was pretty much over, and homes were beginning to stay on the market while sellers got nervous. I wanted to see who the realtor was that advised their clients on this one, but a little further research shows it did not get sold through the MLS. Hmmmm... Did somebody buy a FSBO without any representation...??
Your shaking his head Realtor,
Chris Butterworth
[tags] market analysis, appreciation rate, FSBO, Fletcher Heights [/tags]
