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phoenix az real estate: Phoenix real estate agents building a brand, not just a business... - 06/25/08 10:37 PM
Over the past year my business partner Ben Bailey and I have gradually and methodically building a brand in addition to our business. When Ben created Arizona Premiere Living he envisioned it to not only be a real estate site but a lifestyle site. Because that's exactly what living in Arizona is, a lifestyle. Over the past year we've added features to our site such as our Client Resources section, which includes timely articles about the real estate market and other useful tidbits. We've also added a couple of new blogs, Arizona Premiere Sports and Arizona Premiere Music, both of which we (0 comments)
phoenix az real estate: Banks need to rehab R.E.O.'s a bit... - 06/21/08 07:20 PM
Having experienced this scenario several times over the last year I can say that I'm probably educated enough to give some advice to the banks and their R.E.O. properties. Please banks, spend a little money on the properties before you list them and make sure they have major appliances (at least a range/oven) and keep the pools in clean operating condition if possible. Now, I know I'm going to get responses back from the agents who list these R.E.O. properties stating that the banks do not want to spend additional money on the homes. However, it seems to me that this is (1 comments)
phoenix az real estate: Phoenix Real Estate Market Momentum Tracker for April '08 - 05/19/08 11:59 AM
Well, it looks like things are turning up here in the Phoenix real estate market. As evidenced by the momentum chart below we are definitely seeing a turn in the market. The line to concentrate on for April is the "Units Sold" line, which has been moving up since the beginning of '08. The X axis on this chart is in one year increments so some of the movement looks more or less dramatic than it really is. The explanation of the chart is somewhat counterintuitive so follow me closely. The chart is comprised of three variables. The first of which (2 comments)
phoenix az real estate: The genius of "and"... - 05/14/08 02:04 PM
If you watch the news or follow it by any other means (internet, newspapers, magazines, word of mouth) you can't escape the talk about this year's primaries and general election in November. Throughout the process we've been witness to the cause of much our problems over the past couple of decades. Namely divisevness and polarization. If you've ever read the book "Built to Last" you will remember that the most successful business entities always embraced the genius of "and". The leaders of these companies didn't let egos or agendas stand in the way of what was best for the company. Our political (3 comments)
phoenix az real estate: Create your own radio station... - 05/13/08 11:44 PM
Usually I like to keep my post related to real estate in some manner or other. But once in while you have to just let go and write about something completely off subject. And since music is one of my passions I thought I would write about a really cool site I found the other day. The site is www.pandora.com It is a streaming audio site that basically lets you program your own online radio station. They ask for very little personal information up front and there are no commercial interruptions. Basically it works like this. You logon, register, and then (1 comments)
phoenix az real estate: Phoenix AZ Real Estate market update April '08 - 05/12/08 08:18 PM
For those interested in the Phoenix Arizona real estate market I will begin posting a update on the market there once a month. So here it goes. For the week ending 4/30/08: Active Listings: 13,236 Homes Pending: 1,463 Homes sold in last 30 days: 999 (up 30% over March '08, down 24% over April '07) Burn rate (Inventory on market/by homes sold last 30 days) = 17 months supply Avg. Sale price (Solds): $247,925 (Down 10% from Mar. '08, Down 17% from April '07) Avg. price per sq. ft. (Solds): $154.80 (Down $14 per Sq. Ft. from Mar. '08, Down 24% from April '07) Avg. Days on Market (Solds): 129 (Up (0 comments)
phoenix az real estate: The housing crisis is over?.... - 05/11/08 01:18 PM
Finally after all the negative press about the housing market over the past year the Wall St. Journal (click on the link below) published an objective look at where we stand and what lays ahead. Sorry Chicken Little, the sky is not falling. http://online.wsj.com/article/SB121003604494869449.html?mod=WSJBlog We as Realtors can "educate" the public and our clients all we like. But it takes major news publications to persuade people to act. The news and education has to come from an objective source that has no vested interest in the outcome. Unfortunately the public does not trust Realtors, no matter how ethical, honest, and forthright (7 comments)
phoenix az real estate: Gas - Act locally, think globally - 05/08/08 02:35 PM
We as Realtors drive a lot. It's not uncommon for me to put 200 miles on my car in a day. And no doubt everyone is feeling the gas crunch these days. I'm a firm believer in taking small steps to make a huge difference. We as Americans have become accustomed to cheap gas (relative to the rest of the Western world). There are ways that all of us can help decrease the price of gas. It's the old simple supply and demand curve. 1. Plan your trips ahead of time to make the most efficient use of your car; 2. Inflate your (5 comments)
phoenix az real estate: Short sales and other rants, part - whatever... - 05/07/08 07:21 PM
If you've been following my blog posts at all you know how much in love I am with short sales and loss mitigation departments. (Unfortunately sarchasm does not convey well electronically so I will state that that last comment was meant to be stated sarchastically). We are now in the 21st century. Then why is it the loss mitigation departments for the banks still operate like it's 1975? The fax machine seems to be the latest and greatest feat of technology to these people. No voicemail, no interconnected PDX type phone system that allows them to transfer calls to the appropriate person, (4 comments)
phoenix az real estate: Anthem, AZ Real Estate Update April '08 - 05/05/08 06:38 PM
For those interested in the Anthem Arizona real estate market I will begin posting a update on the market there once a month. So here it goes. For the week ending 4/30/08: Active Listings: 585 Homes Pending: 105 Homes sold in last 30 days: 67 (up 29% over March '08, up 6% over April '07) Burn rate (Inventory on market / by homes sold last 30 days) = 9 months supply Avg. Sale price (Solds): $314,902 (Down 2% from March. '08, Down 16% from April '07) Avg. price per sq. ft. (Solds): $125.51 (Down $3 per Sq. Ft. from March. '08, Down 26% from April '07) Avg. Days on Market (Solds): 140 (Down 36 days, 20% from (1 comments)
phoenix az real estate: How can we expect the public to respect us when we don't respect ourselves? - 05/01/08 05:05 PM
One thing I've noticed in my short career in the real estate business is a lack of respect within our own industry. Now don't get me wrong. Most of the fellow agents I deal with are courteous and respectful. However, just like in any industry, a few bad apples spoil the bunch. In the real estate industy I've noticed there are quite a few more bad apples than in most industries. The lament amongst a lot of Realtors is that we don't get enough respect from the general public. But if we ourselves disrespect one another by not returning phone calls, undercutting commissions, using underhanded tactics to procure (6 comments)
phoenix az real estate: Realtors are NOT to blame... - 04/24/08 10:16 AM
Recently in several posts and some news publications I've read there's been a notion being thrown about that Realtors are as much to blame for this housing crisis as lenders. First off, let's put an end to the word "blame". It carries a lot of negative connotation and antagonism with it. Instead, let's use "responsibility". Now, to blame the Realtors for the housing boom/bubble and then the subsequent bust is like blaming the clerk behind the counter at McDonald's for serving up a double cheese burger to a morbidly obese person and hence forth causing the morbidly obese person to have a massive (6 comments)
phoenix az real estate: Laws of supply and demand... - 04/21/08 08:59 PM
Sometimes it amazes me that even our brightest minds sometimes forget the simple laws of supply and demand. Or they choose to suspend belief, temporarily or otherwise. We see it our markets all the time. And as I mentioned it in a previous post we are seeing it happen again in the oil markets. How does that affect real estate you may ask? Well it affects everything really. Oil is so pervasive in our society and the way we live it cannot be ignored. When you drive clients around to view homes are you not using your car which is powered (7 comments)
phoenix az real estate: Not everyone is bad.... - 04/19/08 01:36 PM
Bankers, lenders, mortgage backed securities investors lend me your ears! Not everyone today is a credit risk. Just like not everyone in 2004 and 2005 was eligible to borrow. With crisis always comes knee jerk reactions. And in our current credit/financial crisis we have been seeing the lenders act as overly cautious as they were irresponsible just a few years ago. No loan seems to go smoothly these days. Even folks with 750 credit scores, six figure incomes, and steady employment are under the tightest scrutiny these days. Let me say this to the lenders. You're in the business to LEND MONEY! If you (6 comments)
phoenix az real estate: Oil. The new boom/bust? - 04/10/08 11:59 AM
In my post yesterday, "Do We Ever Really Learn?" (Read more) I chronicled the various economic boom and bust cycles that our nation has undergone in just my lifetime. And I posed the question, will we ever learn? Well, after reading today's Wall St. Journal I am lead to believe the answer to that question is a resounding NO! My example here is the oil market. Over the last several month we have seen the price of oil futures spike up to the $108-110 a barrell range. Just this morning in the Wall St. Journal I read a report that stated that fuel (oil) (1 comments)
phoenix az real estate: Do we ever really learn? - 04/09/08 06:52 PM
I just turned 40 last December. So I feel I have some perspective to speak about history, at least in my lifetime, and what is going on in our country now. I am constantly amazed that we as a nation repeat the same mistakes over and over again and then act stunned when we have a meltdown like we are currently experiencing. And of course the media and pundits act like it's the first time something like this has ever happened. Let me retrace some of the boom and busts that have just occured in my 40 years of life in the (7 comments)
phoenix az real estate: Location, location, location... - 04/08/08 07:03 PM
Today's report from the NAR regarding the housing slump seems to fly in the face of real estate logic. The NAR is stating that it will probably be another year before we see the bottom of this housing slump. How can they forget the basic credo of real estate: location, location, location. Yes, some markets may have another year to go before reaching bottom. But here in the Phoenix and Scottsdale areas, and even Anthem we are seeing a tremendous uptick in activity. It's almost a return to the days of 2005 when it comes to the bank owned properties. REO's are (4 comments)
phoenix az real estate: Foreclosure bus tours...Are they good for buyers? - 04/07/08 02:28 PM
With every type of market come new and innovative ways to create business. Some may even call these methods opportunistic. One of the new trends in this market that we are seeing is the foreclosure bus tours. The idea is simple. Rent a luxury touring van, schedule viewings of 15-20 bank owned homes in an area, and invite investors and home buyers out for a day of bargain hunting. But are these bus tours in the best interest of the buyers. Here's what I'm getting at. If there are 30, 40, 50 people on one bus, all looking at the same properties could (12 comments)
phoenix az real estate: Maricopa County Real Estate Market Momentum Tracker - 04/04/08 03:17 PM
As I mentioned in a previous post of mine here on Active Rain we as Realtors often get asked "how's the market" or "is it a good time to buy/sell?" Well, the chart below is a tool we use in our office to track the momentum of the Maricopa County real estate market. In essence this chart tells you whether we are in a buyer's or seller's market and whether or not we have reached a top or bottom. The explanation of the chart is somewhat counterintuitive so follow me closely. The chart is comprised of three variables. The first of which is (0 comments)
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