Over the past several years here in the Phoenix real estate market we've been interacting with buyers who have been searching for "a steal".

Well, the "steals" have come and gone.  Those buyers who were waiting on the sidelines for these many many months are finding themselves in bidding wars. And many are getting frustrated to the point of giving up.

This is the folly of trying to find a bottom. Whether it be in the housing market or stock market.  No market goes up forever, and no market goes down forever.  When a buyer of any commodity tries to bottom fish that buyer is going overwhelmed by the other bottom feeders.  It becomes a feeding frenzy where only the strong, or most determined, survive.

Buyers need to understand that it is sometimes best not to wait for the absolute bottom. Sometimes buying on the left side of the curve isn't so bad.  Sure you may not get the absolute best price, but you're going to get a good deal nonetheless.

Right now in our market we are seeing homes going for $50,000 or more above list price.  Cash is king.  Home buyers who are buying homes as residences are getting pushed aside by investors.  It's the old adage of swimming with the sharks.  These people know what they're doing.  If you're inexperienced at the game, you probably shouldn't be in it.  That's where waiting for the bottom is a mistake. Now you have to play with the big boys.  And they play for keeps.

Hopefully everyone is learing some strong lessons in this market.  But history tells me that the same mistakes will be made in the future.

For more information about the Phoenix, Scottsdale, or Anthem AZ real estate markets click here.

This week's community spolight focuses on Vistancia, another beautiful master planned community located with in a 45 minute drive to Phoenix.

Vistancia is located in the Northwest part of the Valley of the Sun.  It is a beautiful community very similar to Anthem, AZ.  Respledent with a world class golf course, tennis courts, acquatic park and miles of walking trails, Vistancia offers something for everyone.  And because it's off the beaten path there is a general sense of tranquility, but not isolation.

In addition to all of the various amenities Vistancia is part of the Peoria School District, recognized as one of the best school districts in Maricopa county.

Homes in the Vistancia community were constructed by such reputable builders as Shea Homes, Maracay Homes, T.W. Lewis, and Ashton Woods.  This diversity in home builders gives the community a somewhat unique look as opposed to some of the developments constructed by one major builder.

With the recent opening of a Safeway shopping center, and major retail centers within minutes driving distance of Vistancia the community feels more connected than ever before.

Next time you are in the Phoenix area take a nice drive and visit Vistancia.  We think you'll be quite impressed.

For more information about Vistancia, Anthem, or the Phoenix real estate market click here.

The Phoenix real estate market has heated up to a pitch we haven't seen in four years.  I can tell you first hand, we are no longer in a buyer's market. At least not in the low end price range (less than $200k).  Anecdotally, most agents in the valley have said the same.  So the other day I checked our MLS to see if the numbers corroborated what I've been seeing and hearing.  The numbers surprised me:

Active Listings: 32,943 (The lowest we've seen in over three years)

Pending Sales: 13,433 (The most we've seen since the peak of the market in 2005)

Closed Sales Last 30 days: 9,334 (Again, approaching 2005 levels)

We've also seen the average sale price of homes in our area increase for three consecutive months.  The first time we've seen that in over three years as well.

Folks, it comes down to this.  If you are interested in purchasing a home in the Phoenix/Scottsdale area, you need to do it now.  Because the next step in this trend is price increases.

We have had a perfect storm of low interest rates and dramatically reduced home prices over the past year here in the Phoenix area.  This has created a feeding frenzy down at the bottom end of the market.  The investors have come back in to the market full force and they are scooping up all the deals/steals very quickly.

For more information on the Phoenix/Scottsdale real estate market click here.

In our continuing series of posts featuring golf courses in and around Phoenix, AZ, Legend Trail Golf Course in North Scottsdale is this week's featured golf course.

Located about 15 miles north of downtown Scottsdale Legend Trail is a public course that offers players of all levels challenging and unique shots throughout each round.  It's wide fairways and sweeping vistas of the Sonoran Desert have earned it a ranking as one of Golf Magazine's Top 100 Golf Courses.

The Rees Jones designed course is a par 72 course with a total playing distance of 6,845 yards.

Legend Trail is also home to the renowned John Jacobs/Shelby Futch Golf Academy, rated as one of the finest golf academies in the country.

Green Fees range from $165 during the peak season to as little as $37.50 for twilight summer play.

Whether your a scratch golfer or a hack (like me) you'll find Legend Trail Golf Course to be an enjoyable experience.

For more information about Scottsdale, AZ real estate click here.

As I stated last month the  Scottsdale real estate market seems to have hit a bottom. Scottsdale had been showing some signs of waning under the pressure of the economic downturn through late last year and early 2009. However, the last two month's reports are telling a different story.  Homes sold and pending sale are up over April '09 and last May, the average sale price seems to be stabilizing and homes that were on the market for a while but repriced to meet the market are now selling.  All in all this bodes well for Scottsdale.  That being said, there are still some fantastic bargains in Scottsdale right now.  And when the market picks up full swing again, the homes in Scottsdale are going to appreciate at about double the rate of homes in other parts of the valley.

Here are May's numbers for the week ending 5/31/09:

Active Listings: 4,740 (Down 12% from Apr. '09)

Homes Pending: 1,155 (Up 15% over Apr. '09)

Homes sold in last 30 days:  517 (Up 5% from April '09, Up 7% from May '08)

Burn rate (Inventory on market/by homes sold last 30 days) = 5 months supply

Avg. Sale price (Solds): $450,087 (Down 3% from April '09, Down 15% from May '08)

Avg. price per sq. ft. (Solds): $169.80 (Down $7 per Sq. Ft. from April '09,  Down 21% from May '08)

Avg. Days on Market (Solds): 158 (Down 10 days from April '09, Up 4 days from Ma '08)

To learn more about Scottsdale real estate click here 

For more information about Anthem Arizona visit: www.allaboutanthem.com