phoenix real estate: 2007 Phoenix Area New Builder Rankings - 09/24/07 11:07 PM
2007 Phoenix Area New Builder Rankingsby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Are all builders created equal?  Of course not.  Some have better workmanship.  Some have better designs.  Some have better customer service.  Can you tell by just walking into the model homes at the subdivision?  Probably not.  But our friends at JD Power have decided to help out out in this regard.  See the links below for various rankings of new home builders in the Phoenix metropolitan area.
Customer Service Rankings
Quality
Design
Enjoy this information.  Definitely don't use it in a vacuum but also please don't completely disregard it in your new … (0 comments)

phoenix real estate: Do you text while you drive? It might cost you - 09/18/07 11:57 PM
Do you text while you drive?  It might cost youby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
I couldn't help but write about this topic (admittedly not a whole lot of Real Estate content here).  Talking on the phone used to be "the" hazard when driving.  Well, now its texting while driving - my guess is that this has been pioneered by our younger friends.  See this article in the Arizona Republic.  This ordinance will go to the full City Council for a vote.  Fines up to $400.  To my friends (and some clients who text me) - I apologize in … (12 comments)

phoenix real estate: Landlord by Choice or Necessity? - 09/08/07 09:02 PM
Landlord by Choice or Necessity?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Many folks choose to become landlords.  There is no doubt that if developed properly, a sound real estate investment portfolio can lead to impressive financial results down the line.  Some ~90% of this country's millionaires have generated their wealth through real estate.
But to be truly successful down this path, one has to know many things and have a defined plan and pathway.  I'm willing to bet that being forced to rent out a home because it won't sell typically doesn't fall into such a plan.  Read the following article … (5 comments)

phoenix real estate: Valley home prices dip 2.7% year over year - 08/20/07 04:05 AM
Valley home prices dip 2.7% year over yearby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
We know the real estate market nationwide has slowed down significantly post-boom.  This is definitely the case in the Phoenix metropolitan area.  However, rather than large price decreases, we have seen significantly higher inventories as well as increased days on the market for homes that do sell.
See this article from the Arizona Republic.  Year over year, the Valley's home prices have "only" gone down about 2.7%.  Thats not bad for a market that appreciated over 50% in 2005 alone.  And its certainly less than some other … (3 comments)

phoenix real estate: Michael Pollack speaks - we listen! - 07/30/07 02:41 AM
Michael Pollack speaks - we listen!by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Have you ever driven around in the Valley?  Well then you've probably seen many of the semi-trailors with the name Pollack - these are located all over the place!  What does the name mean?  Well, in this case we are talking about one of the utmost experts with regards to retails centers and strip malls in the metropolitan area.  An article just appeared in the Arizona Republic where Michael Pollack addresses various issues of importance to such strip malls.
He points out that "big-box" stores ala Walmart can steal business from … (1 comments)

phoenix real estate: The seller has completed repairs - do you ever hire an inspector to confirm? - 07/12/07 03:03 AM
The seller has completed repairs - do you ever hire an inspector to confirm?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Its a common practice for homes to be inspected when they go under contract.  The inspector finds some flaws, the buyer and the seller typically negotiate what items get fixed, repairs are completed and the home closes escrow.  I was wondering - how common is it for another inspection after the completion of repairs...with the obvious purpose to verify that the repairs were completed correctly?
Obviously if a loicensed contractor were to be used, receipts/records might be available.  But what if … (14 comments)

phoenix real estate: Who are the biggest Employers in the East Valley? - 07/12/07 02:53 AM
Who are the biggest Employers in the East Valley?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Its no secret that a strong employment base is a key factor that drives growth and supports local economies.  Job growth will often help to drive new construction and growth within the Real Estate market as well.  On that note I came across this article from the East Valley Tribune which lists the top 40 employers in the East Valley.  These companies are some of the major drivers for the Valley's current and future growth!
Thanks for Reading :)
Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
… (0 comments)

phoenix real estate: Short sale - come on, everyone's doing it!! - 07/08/07 08:57 PM
Short sale - come on, everyone's doing it!!by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
You buy a home.  You need to sell the home.  But for whatever reason....the home decreased in value or you borrowed too much against the home - you owe more than the home is worth.  You would just have to remain in that house until you achieved a better equity position.  But wait, oh, you lost your job also?  Can't make the payments anymore???  Very bad situation.  In the past, you likely would have been forced into foreclosure.
Nobody wants their home foreclosed upon.  Its a horrible process.  It ruins … (15 comments)

phoenix real estate: Ever woken up and there was a hole next to your house? - 06/27/07 03:14 AM
Ever woken up and there was a hole next to your house?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
As Real Estate Agents, we have to know and be aware of many things.  Some of these may include comps, neighborhoods and floorplans.  What about builders and construction of malls or roads?  Sure.  And what about fissures.  FISSURES?  Fi-what?  Well, Arizona, primarily central and southern Arizona have fissures that can cause problems.  Don't believe me?  Wait...before we look at cases of fissures, how about we look at some examples of how they basically cropped up out of nowhere in the recent past to cause trouble....
http://www.azcentral.com/community/gilbert/articles/0811fissures-ON.html
http://www.eastvalleytribune.com/story/47157
What … (4 comments)

phoenix real estate: Who is your builder again...? - 06/18/07 03:29 AM
Who is your builder again...?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
All builders are not created equal.  Different levels of attention to detail,d ifferent philosophies, etc.  At some level they are the same.  But at many levels they aren't!  Reading the East Valley Tribune today, I came across this article.  It suggests that buyers of new homes
Focus on the builder, less so the price.Get an inspection done - so what if its new!If you do have problems, file a complaint!!I also came across this article.  A experienced developer had a new home (~ 500K) built by a well known national builder.  … (3 comments)

phoenix real estate: Should licensing be easier or harder? - 06/12/07 03:04 AM
Should licensing be easier or harder?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
I had run across an article by Greg Swann of Bloodhound blog recently in the Arizona Republic.  To summarize, Greg suggests (and Greg please feel to disagree if my synopsis is inaccurate) he states that licensing requirements for real estate agents is a joke.  No disagreement here!  He points out that passing the test only proves a persons ability to remember rather useless bits of information and in no way predicts future success as a Real Estate Agent.  He backs this up by stating that more than 90% … (19 comments)

phoenix real estate: Uh-oh...mortgage rates hit 10 month high! - 06/12/07 12:11 AM
Uh-oh...mortgage rates hit 10 month high!by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
I'm sure most real estate professionals keep track of mortgage rates.  I'm sure most folks considering the purchase of a home do the same.  But, I'm also guessing some people (professional or consumer) have been remiss in keeping up.  So I thought I'd post a little update.
This was posted today in money.cnn.com.  Mortgage rates are now at a 10 month high with the 30 year fixed having passed 6.5%.  One always says to not attempt to 'time the market' - if you find the right house for you … (6 comments)

phoenix real estate: Too much inventory? It is good for those people we call BUYERS !! - 06/08/07 11:33 PM
Too much inventory?  It is good for those people we call BUYERS !!by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Many parts of the country have way too many homes on the market.  Inventories are setting records (certainly the case in the Phoenix metropolitan area).  We are seeing the number of transactions decrease.  We are seeing homes sit on the market longer.  We are seeing sellers very frustrated by the inability to sell their homes!
Lets not forget - this set of conditions is actually good for one set of the population - BUYERS!!!!  In various markets, they have inventory to select … (7 comments)

phoenix real estate: Was the sale of your home front page news? - 06/06/07 04:33 AM
Was the sale of your home front page news?by Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Homes are bought and sold all the time.  Big homes, small homes, ugly homes, pretty homes.  Rich people, not so rich people.  No big deal, right?  Well what would happen if you bought or sold a home and it made FRONT PAGE NEWS???
See this article in today's Arizona Republic.  It details the priciest real estate transactions in the Valley for the past week.  As a matter of fact, this runs on a weekly basis.  Frankly, I kind of laugh when I see this. 
Of course, … (6 comments)

phoenix real estate: Record setting apartment deal - 06/05/07 03:28 AM
Record setting apartment dealby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
The apartment market, at least for investors, appears to keep on chugging.  High home prices are forcing more people to rent.  Rents have been going up and apartments as an investment vehicle begin to look more and more attractive.  Earlier, I blogged about apartment rents continuing to rise in the valley.
Well it didn't stop there.  Check out this article from today's Arizona Republic.  A record breaking deal took place where 12 Phoenix area apartment complexes sold for a record combined $427.5 million dollars!  In total, we are talking about 5178 … (4 comments)

phoenix real estate: The sky is falling! I think...wait, maybe its not.... - 06/04/07 11:42 PM
The sky is falling!  I think...wait, maybe its not....by Kaushik Sirkar, Chandler REALTOR®Chandler AZ Real Estate
During the boom.  You couldn't go wrong with housing.  50% appreciation per year for the next decade.  Now?  RENT!  Get out of your house before it loses all its value!!
Obviously both of the ends of the spectrum are/were somewhat skewed.  Those of us who kept our heads during the boom knew it wouldn't last forever.  And....wait...am I predicting the future...that house prices won't completely collapse?  Well, thats certainly my expectation.  But my point here is, many frenzies (up or down) are driven by media reports.
Supposedly, we are … (10 comments)

phoenix real estate: Cooper Commons subdivision YTD statistics - 06/01/07 12:56 PM
Cooper Commons subdivision YTD statisticsby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Please find enclosed the year-to-date statistics for the Cooper Commons subdivision in Chandler (data per ARMLS).  Located in southern Chandler in the 85249 zip code, this is a very serene subdivision that is ideal for families with its many parks/greenbelts.  (Data per ARMLS)
… (0 comments)

phoenix real estate: Cottonwood Springs subdivision YTD statistics - 06/01/07 12:53 PM
Cottonwood Springs subdivision YTD statisticsby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Cottonwood Springs is beautiful subdivision located in close proximity to both the 101 and 202 freeways.  Near the intersecdtion of Alma School Rd. and Queen Creek Rd. in Chandler (85248), please find enclosed recent (since 1/1/07) market statistics (courtesty of ARMLS).
Thanks for Reading :)
Kaushik Sirkar, Chandler AZ REALTORhttp://www.homesphx.com
… (0 comments)

phoenix real estate: Augusta subdivision YTD statistics - 06/01/07 12:48 PM
Augusta subdivision YTD statisticsby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
Augusta is a charming golf course subdivision located in the Foothills area of Ahwatukee.  Enclosed, please find the latest year-to-date market statistics (courtesty of ARMLS).
Thanks for Reading :)
Kaushik Sirkar, Chandler AZ REALTORhttp://www.homesphx.com
… (0 comments)

phoenix real estate: Phoenix area submarket absorption rates - 05/30/07 11:43 PM
Phoenix area submarket absorption ratesby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real Estate
I admit it.  I'm not the first to blog about absorption rates.  Heck, I'm not the first one to blog about them locally.  I first saw Jonathan Dalton blogging about this topic.  But I do find this topic very interesting, so I'm going to start talking about it also!
What is an absorption rate?  Effectively it quanitifies the supply of homes (often discussed in months of supply).  It suggests that based on the current rate of sales and the amount of inventory on the market, it should take X timeframe … (2 comments)

 

Kaushik Sirkar

Chandler, AZ

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