Scottsdale, Arizona (PressExposure) July 11, 2011 -- Capital Realty has developed a new Real Estate Index called the Scottsdale Community Price Index ("SCPI") that is formulated to provide values and price trends to specific Luxury Scottsdale Communities. Like many real estate markets in the United States, Scottsdale has been hit hard by the recession and has seen home values plummet substantially over the past few years. Due to a variety of reasons including economic conditions, low employment rates and media attention, the Greater Phoenix area has been widely publicized as one of the hardest hit regions in the United States.
What gets lost in all these publicized statistics is the scope of data that is being used to make these assumptions. There are many areas in the Greater Phoenix area that continue to see real estate values decline but that does not necessarily provide an accurate representation of the market as some neighborhoods have data and statistics showing otherwise. Recently we have seen values stabilizing in Scottsdale, and other parts of the greater Phoenix area and in some cases we even see some neighborhoods appreciating.
By developing the SCPI, Capital Realty (http://selling2arizona.com) hopes to educate buyers and sellers of the actual market conditions in Scottsdale as well as in specific Scottsdale Communities by providing specific data to these neighborhoods.
Like any city, market conditions can vary greatly from neighborhood to neighborhood and this holds especially true in Scottsdale where zoning, and urban sprawling has allowed new multi-million dollar subdivisions to be built next to older, smaller, less desirable subdivisions. By simply taking the median home values of Cities, or even Zip Codes, we as consumers, do not get an accurate snapshot of what the true market conditions are for neighborhoods.
The new Scottsdale Community Price Index that Capital Realty (http://selling2arizona.com) has developed will change the way we look at Scottsdale Real Estate values by providing an index that shows where prices have been, where they currently stand and where they are heading. The SCPI provides specific data to each Luxury Scottsdale Community and will allow potential buyers and sellers to get real, relevant statistics and trends specific to each Luxury Scottsdale Neighborhood.
To check out the latest Scottsdale Community Index ("SCPI") visit Capital Realty's website at http://selling2arizona.com/scottsdale-community-price-index-scpi/