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arizona market: Purchasing Discounted Properties in Arizona- Step One: Before You look - 12/04/08 03:39 PM
Two deserts and two oceans.
These are the locations many have been reading about these past few months.
The four places in the nation that saw a great run-up in price in the middle of the decade and, consequently, they have also seen a steeper decline in home pricing in the past couple years.
The two deserts are Las Vegas and the Phoenix area. The two ocean locations are Florida and California. With the news of foreclosures, potential buyers have been approaching me (and other real estate agents) with this question:
"So.... uh... do you know where I can find … (0 comments)
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arizona market: What the Investors Want - Phoenix Metro Update - 09/05/08 02:27 PM
The Latest Trends in Arizona Real Estate Investing (September 2008)
Real Estate has seasons. Most agents will be able to tell you when the buyers tend to show up and when they tend to slow down.
The market has fluctuations. Sometimes we're in a buyer's market- other times sellers are in the driver's seat.
Then there are the trends that come and go. These trends can vary by market and in many cases by neighborhoods.
Let me use this opportunity to share with you the investor trends I'm seeing in the Phoenix metro area market. First let me qualify … (7 comments)
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arizona market: A Look at the Indicators... Where is Housing Headed - 08/05/08 11:51 PM
For any speculator, this is a fun time to be looking at the market.
"Why is that?" you ask.
It's because the market is putting on a great poker face. Here are some of the curve balls we've witnessed over the past couple years:
Homes have lost equity, stocks have lost ground, transportation prices have soared, the national deficit has increased, the dollar has weakened, state and local governments are facing deficits from loss of property tax revenue, etc.
All of this activity has kept money tight. That is to say, people are being careful with their discretionary income. Whenever this … (10 comments)
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arizona market: Forbes Ranks Phoenix in the top ten of "U.S. Real Estate Markets for Investment" - 07/19/08 08:56 PM
Forbes July 10, 2008 edition is out. Once again Phoenix, Arizona makes the list of cities in the United States most suitable for investment.
Though Forbes recognizes the issues facing the city, such as lending related hardships- they still find much to like in the area.
I couldn't agree more; there are distresses in the market but there are also bright spots.
Notably areas closer to the heart of the metroplex are the new target for housing. The areas on the fringe of the valley, with their low prices are still seeing growth but gas prices have made the … (5 comments)
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arizona market: Market Data- It's seldom fresh and always needs an update - 07/17/08 12:56 PM
Ohhhh... The Ever-Changing Market- I'm typically optimistic regarding several sectors of the real estate market. The statistics that most of us see tend to give a macro-view. This only makes sense because news agencies tend to want to capture a wide audience. However, the large view is overwhelming- it paints a picture that often has limited value at the local level.
Knowing this, I like to understand smaller target markets. I take a micro view. So, what I report to my buyers tends to be more narrowly focused. I can show results for areas and look for the bright spots... … (3 comments)
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arizona market: How's the Real Estate Pricing? Arizona Relocation Tool Offers Local Data - 07/13/08 07:08 PM
When I receive an out of state call, one of the first questions I'm asked is "how's the pricing?" The short answer is that state-wide prices are below what they were last year but the pricing will vary by city, zip code and neighborhood. Here's an example of pricing by zip code as reported in the Arizona Republic (July 12, 2008):
Phoenix - 85007 - Up 10.4%
Mesa - 85205 - Down 5.5%
Scottsdale - 85262 - Up 6.7%
So... if you want to buy in these zip codes, one will have lower pricing and the other two have had increases. … (5 comments)
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arizona market: Real Estate Transactions - A Three Act Play - 07/09/08 02:49 PM
Real Estate Investing is like a Three Act Play.
It seems every real estate transaction has that moment of truth... the point where everything sails through on schedule or becomes imperiled. Real estate investing has more than its share of drama.
If you're working with professionals the rough spots are usually broadcast so far in advance that the deal can be saved.
Still- there are those occasional zero hour moments that require decisive action. It reminds me of a finely orchestrated theater piece... however, if performed perfectly the drama will be kept to a minimum.
There is a structure … (7 comments)
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arizona market: Nice Surprises in the Market News- Both Nationally and in Arizona - 06/29/08 07:23 PM
"Act surprised" ... that's the command I gave my daughters as they unknowingly became a part of my blog-marketing campaign.
Fortunately they put up with me.
OK... for about 3 seconds... and no do-overs.
This is a brief snapshot with my wrap-up of this week's market news. There's some good... some not so good but, overall I'm pleased with the direction of things.
Here are the good surprises:
"After-tax incomes and spending show big gains" - That's the market headline from the associated press. Another quote within the article, "The Commerce Department reported that disposable incomes, the amount … (4 comments)
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arizona market: The Market Has Two Bottoms - 06/21/08 02:45 PM
I'm breaking from tradition here. I can't for the life of me find a graphic for this title. If ever I do, I'll post one... if not- this may be a text only post- defying my personal blogger goal- to marry each topic with symbolic imagery.
Now- to the point, the market has two bottoms. One is quantity of sales; the other is pricing.
According to some of the latest research, the Phoenix metro area's bottom has been achieved in one regard. Sales have increased.
New home sales? Up. Existing home sales? Up. Home construction permits? Up. All this can … (9 comments)
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arizona market: What Happens to Comps as the Housing Market Recovers? - 05/12/08 05:48 PM
So you've been looking to buy a home.
The bidding has been competitive- you made an offer on a great home- the sellers accepted another bid.
You've discovered that the "buyers' market" that you've been reading about now seems mythical.
You bid on another home and lose out again. What? A competitive market?
Now... you've found the home of your dreams and don't want to lose out to another bidder.
You made a full price offer and crossed your fingers... hurray- you "won" the bid!
Will your home appraise?
The answer- it depends.
Hopefully you had a "comparative market analysis" … (9 comments)
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arizona market: Here Come the Investors? The phone is ringing again, but it's not Mom & Pop - 09/10/07 02:41 PM
In Arizona, residential-investor interest went from tepid to warm to hot. This cycle began at the turn of the millennium and lasted deep into 2005. The past two years have seen a decline. That is until recently.
Why the renewed interest?
It appears that interest rates, after a chain of rising and capping, are poised for a drop. It's anyone's guess what the Fed will do in the coming days but the market is already responding to speculation that rates will fall. Lenders have begun to lower rates in anticipation. New Home builders are sitting on inventory. In some cases … (1 comments)
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Chuck Willman, Arizona Realtor® 480.292.0600
Mesa,
AZ
More about me…
Gentry Realty
Address: 2812 N. Norwalk #101, Mesa, AZ , 85215
Office Phone: (480) 292-0600
Cell Phone: (480) 292-0600
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