5040 E Cheryl Dr., Paradise Valley, AZ 85253

Paradise Valley:CROMFORD REPORT Exceptionally strong market activity is occurring in Paradise Valley where sales are now averaging 52 per month compared with 31 last year at this time. Inventory is down to 319 from a peak of 581 in April 2009 when sales were averaging only 9 per month. CUSTOM HOME WITH TENNIS COURT, LOTS OF NICE TOUCHES THROUGH OUT. REMODEL STARTED BUT NOT QUITE COMPLETE. SELLER TO CREDIT BUYER $30,000 FOR FINISHING WITH ACCEPTABLE CONTRACT. FORMAL LIVING/KITCHEN FAMILY ROOM, BBQ AREA BY TENNIS COURT, POOL, SIDE ENTRY GARAGE, FIREPLACES IN FAMILY ROOM AND FORMAL LIVING ROOM. BIG MASTER BEDROOM WITH SITTING AREA. 4TH BEDROOM IS GUEST ROOM WITH FULL BATH. BIG CORNER LOT, LOTS TO OFFER FOR A GREAT PRICE. Here at the Cromford Report, we only deal with facts and figures, not beliefs, so here is the market update. Sales - We are currently recording 9,814 sales in May. This is up 3.5% over April and up 10% over May 2010. This is a very strong sales total because in May 2011 sales are not being boosted by the government bribe (sorry, tax credit) that applied in 2010 for buyers of owner-occupied homes. Pending Sales - At 13,268 on June 1, pending sales are down 0.4% compared with May 1 but up 6.7% compared with June 1, 2010. Again an extremely strong indicator of demand. In 2010 demand fell sharply during the summer after the tax credit expired, but there is no sign so far that the same will happen in 2011. Active Listings - At 31,346 on June 1, active listings are 9.4% below May 1 and 23.3% below June 1, 2010. Supply is clearly falling fast. However this understates the situation because a large proportion of the active listings already have a contract against them. In fact there w