The bill in question is referred to as the Waxman(D-CA) Markey (D-MA) Bill. The actual name is the American Clean Energy and Security Act and this bill did recently pass the House of Representatives.

The inaccuracy is that the version of the Bill that passed the House 'exempted resale homes' and buildings from impact due to the Bills Energy Labeling, although did not exempt 'new homes'.

The original bill required new and existing homes and buildings to undergo an energy evaluation inspection at the time of transfer (sale). It also provided provision for a private right of action so that citizens could sue over minor climate risks undr the Clean Air Act. It was feared that the expense and labeling of properties under this Bill could stigmatize a property and significantly impact future sales and risk.

The National Association of REALTORS summary of climate issues, which summarizes NAR policy, may be accessed on realtor.org

Buy Bank Owned and Short Sale homes 25-40% under todays value!

How? Arizona has one of the highest levels of delinqencies on purchase-money first and refi mortgages. As the 3/1, 5/1, and 7/1 ARM's adjust many cannot afford the new payment and find themselves unable to sell since the current market value is below what they owe.

Why is it a good time? Obviously you are aware that by the time the general public becomes aware that it is time to buy the investor market has already passsed. Well, the investors are buying portfolios of these products right now. Since we are in the industry we need to paricipate or miss the market as well. Plus, the Greater Phoenix Metro Market is continuing to grow at above state average. 2007 ended at a modest 3% appreciation and 2008 is expected to be an additional 3-5% with recovery scheduiled for 2009 returning to an 8-12% annual appreciation schedule.

What does this mean for you and I? My company searches out the product and provides this opportunity to our own REALTORS as well as share the properties with others. We are known for multi-family acquisitions and now are launching into the REO, Bank owned and foreclsure properties. I am looking for other bloggers to spread the word and also personally acquire as well. All acquisitions are made after full disclosure so there is no portfolio requirements.

Let me know if this interests you. - Todd

PS if you have properties/opportunities for me in the REO, multi-family, self-storage or retail markets please do not hesitate to call me. We have buyers ready. Happy New Year - Todd

Hello Team -

There is much speculation with regard to the future market. Although many economists believe the worst is over and are waiting for inventories and finance to find equilibrium. In Phoenix the inventory is stable although the only buyers in the market are those who CAN afford to invest 5% into the acquisition. Interest rates are very competitive and still remain below historical averages if you look at the products offered through a mortgage brokerage offices rather than a bank. Loan terms have become more stringent as the beneficiaries (lenders of money) tighten the reign on ignorant lending practices but there are still opportunities out there for buyers who need sub-prime loans that cater to FICO scores down to 580+ including products for the self-employed and high debt-to-income borrower.

The facts are that we tend to believe what we hear most often and in the world of sensationalism it has been doom and gloom. The reality is that now is the time most true money savvy investors are looking into the real estate market to acquire properties prior to the turn in the trough. In many areas across the country now IS the time to acquire real estate. The secret is that by the time the media begins to make the public aware of the turn in the cycle the best part of the cycle has already past. It is always the rhetoric of those who wait for the media to announce the market that end up being part of those buyers who missed the real opportunity. This is why you should have a trusted real estate professional (REALTOR) as your real estate consultant... or become one!

Forbes and Moody's recently posted articles with regard to the most attractive places to buy property today. The Top 10 Markets are purported to post increases in appreciation in markets where the real estate markets have reached a stabilizaiton and anticipates an increase in sales volume.

Of course for the benefit of this post Phoenix is ranked 7th on thier list of the Top Housing Markets superceded by Orlando, Washington D.C., Long Island, Denver and Cleveland.


Todd C. Menard, GRI
President, Designated Broker
Member Realtor Commercial Alliance
Master of Real Estate Society
Chairperson S.E.V.R.A.R. Grievance Committee
AAR Certified Ethics and Professional Standards Instructor
State of Arizona Department of Real Estate CE Instructor
tmenard@cox.net

"Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it's amazing what they can accomplish." - Sam Walton 1918-1992, Founder of Wal-Mart

"When you do the common things in life in an uncommon way, you will command the attention of the world." - George Washington Carver 1864-1943, Scientist and Educator

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