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Each month AR runs numerous contests as a way for our members to engage in activities
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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Phoenix Real Estate Blog: First-time Homebuyer? The Market Is Your Oyster - 08/26/09 03:20 PM
There was an article last week in SmartMoney Magazine about how the housing bust has transformed the real estate market into a first time homebuyer's paradise. "In this market, first-time buyers are getting VIP treatment. Indeed, they're the star players in a nascent market revival." Real estate market a buyer's paradise In fact, according to the National Association of Realtors, in the first part of 2009 first-time homebuyers accounted for nearly half of all home purchases, which is far greater than in the past. There are a number of reasons why: The new $8,000 tax credit for first-time homebuyers Fewer homeowners (0 comments)
August Phoenix and Scottsdale Real Estate Market Update - 08/21/09 02:54 PM
As you know, I usually get my monthly market statistics from ASU, but the Real Estate Studies director Jay Butler said they’re having some problems with their programs and the numbers will be a while. So this month I turned to Trulia, which offers detailed city-level market statistics. A couple of notes: Median sales price, recently sold, and foreclosures numbers are based on public records Average listing price, homes for sale and open homes numbers are based on Trulia listings Phoenix The median sales price of homes in Phoenix during the May-July period was $93,000 (based on 10,855 home sales). That’s (0 comments)
As I was driving to meet a client yesterday, I was listening to NPR and the story was about the economy. The central question, as it always is, was whether or not we’ve hit bottom. I won’t go into the details, I mention it only to recall what the interviewee said, “At the end of the day, you have to look at yourself, look at your neighbors – how are you feeling about the economy? Are you spending money?” In other words, the economy won’t really begin to recover until consumers start spending again. And that won’t happen until (0 comments)
Trulia reported today that as of August 1, 26% of Phoenix home sellers had made at least a 1% reduction in their original asking price. The average reduction is 13% for a total of $84,109,665. “The reality is, today’s sellers need to price aggressively to avoid reductions. Consumers are looking for value and when they find a good deal, they are taking advantage of market conditions,” said Trulia’s co-founder & CEO Pete Flint. Erring on the side of pricing your home too high might seem like a good idea -- after all, if you don’t see any interest in your (0 comments)
You think your real estate agent is working for you. But is he? Maybe. Then again, maybe not. While it seems intuitive that your real estate agent would act in your best interests -- and only your best interests -- when helping you buy a home, that’s not necessarily so. In fact, if you haven’t established a buyer-client relationship with your real estate agent, he could be working for the seller’s best interests -- steering you to particular homes or encouraging you to make a higher bid than you would otherwise. That’s why it’s so important to understand, first, what (0 comments)
Phoenix Real Estate Blog: Buyers, Should You Treat Foreclosure Listings Differently? The Answer May Surprise You. . . - 08/07/09 09:52 PM
A huge percentage of the existing home sales in the Phoenix area these days are foreclosures. Some need heavy-duty repair work, others are practically move-in ready. Some are in blighted inner-city neighborhoods. Others are in master-planned communities with swimming pools, tennis courts and golf courses. Wherever you look, whatever your price range, there are great deals to be found in foreclosed (often called bank-owned, or REO) homes right now. But it will pay to know what you're getting yourself into -- to look before you leap, if you will. Because the fact is that buying a home that has been repossessed (0 comments)
I blogged the week before last about strategic defaults -- when a homeowner decides to default on a mortgage (typically through a short sale or by letting the bank foreclose) even though he can still pay the mortgage. Typically, a homeowner does a strategic default because of negative equity -- when the mortgage is more than the home’s market value.
On July 24, I talked about the recent academic paper citing that 26% of all mortgage defaults are strategic. On July 27, I wrote about the nuts and bolts of a strategic default -- include the process and its (0 comments)
They’re a growing problem, especially in those Valley neighborhoods most heavily affected by foreclosures. They’re unkempt yards and houses, and they can wreak havoc on the values of homes in the neighborhood.
If you’re a buyer, of course you’re going to consider the condition of homes near the one you’re considering to buy. First, who wants to live next to an ugly house or yard? Second, if you ever plan to sell the home, you could have difficulty because of eyesore neighbors. Finally, the kind of neighbors who don’t keep up their homes and yards are the kind of (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.