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foreclosure: eBay for Serious Real Estate Investors? - 06/14/10 12:21 AM
To serve a new wave of computer savvy real estate investors, an Arizona company, called Smart Arizona Foreclosures, has set up a website reminiscent of eBay, which offers online bidding for qualified cash buyers. Now you can bid on bank owned residential properties without even leaving your home! Sound too good to be true? We don't think so.
My associates at Smart Arizona Foreclosures have designed a streamlined website with a number of fail-safe devices (title search, photographs, minimum/maximum bids, etc.) to minimize the risk. In addition, my clients will have my assistance in double-checking property values, resale estimates, rehab charges, and … (5 comments)
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foreclosure: August Tempe Real Estate Market Update - 08/14/09 06:45 PM
Where have all the real estate deals gone?
There have been a couple of dramatic changes in the Phoenix real estate market in the last few weeks. First, the inventory in the Baseline corridor has disappeared. The number of available real estate deals in the corridor has dropped from approximately 15-20 homes to 3 homes over night!!
Our Keller Williams bank owned property specialist has informed me that in the bank owned arena, there have been significant changes. Our bank owned property specialist was previously listing 20 new properties per week but is now listing 2 new properties per … (0 comments)
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foreclosure: Real Estate Market Continues to Improve - 06/01/09 04:03 PM
The real estate market is continuing to show signs of improvement after a consistent two-month drop in the absorption rate. The absorption rate is the ratio between active and solds: the time it would take at the current rate of sale for the inventory to be completely sold. For example, if there are 10,000 homes for sale in a region, and 1,000 are sold each month, the absorption rate would be 10.
At the end of April, the absorption rate for the valley was down to 5.5 - a few years ago, it wasn't uncommon for a home in the … (1 comments)
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foreclosure: Tips to Help You Avoid Foreclosure - 05/08/09 03:10 PM
The real estate market is currently in a state of flux, with many people still struggling to keep their homes. Arizona Republic reporter Chad Graham shared real estate reporter Catherine Reagor’s tips for readers who are dealing with a potential foreclosure. According to Reagor, foreclosures spiked more than tenfold in the past year as homeowners fell behind on their mortgage payments. Here are some of Reagor’s tips that can help you from becoming a statistic:
1. Contact your lender immediately.
2. Organize important papers – locate such items as lender information, annual tax returns paychecks and monthly utility bills … (0 comments)
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foreclosure: The Real Estate Market Continues to Recover - August 2008 - 08/16/08 03:07 AM
By The Numbers
Inventory (supply) down: For the fifth straight month, total inventory has dropped. We are still in the 50,000s and although this is still high, the trend is down.
Sales (demand) up: Closed sales for June are above 6,000 and are double what they were per month during the slump in 2007.
Forecast: Pending sales for August are still around 7,000, so it is safe to conclude that the downward trend will continue.
The absorption rate (time to clear out the current inventory) has dropped to 9 months from over 20 months in 2007.
The last time we saw … (0 comments)
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foreclosure: The Real Estate Market Continues to Recover - 07/18/08 02:55 PM
By The Numbers
Inventory (supply) down: For the fourth straight month, the total inventory has dropped. We are still in the 50,000's which is high but the trend is down.
Sales (demand) up: Closed sales for June are close to 6000 and double what they were per month during the slump in 2007.
Forecast: pending sales for July are above 7000, so it is safe to conclude that the trend will continue.
The inventory at the current absorption rate (time to clear out the current inventory) has dropped to 9 months from over 20 months in 2007. The last time we … (0 comments)
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foreclosure: The Window of Opportunity is Starting to Close- Don’t Miss Out - 06/20/08 01:17 PM
Good News Numbers
Sales for May are up 15% from April. Pendings (properties under contract and closing in the next 30 days) are up and the total inventory has dropped for the fourth month in a row. In fact, the numbers for May 2008 are almost exactly the same as they were in July of 2007, when there was a 10-month inventory of properties. This was just before the "perfect storm", when mortgage companies stopped lending under the old rules.
In Tempe there was a dramatic 50% increase in properties sold between April and May and the inventory is now at … (2 comments)
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foreclosure: Will the Media Tell Us? - 01/04/08 03:56 PM
Will The Media Tell Us?
For the better part of a year now, the airwaves and front pages have been inundated with apocalyptic predictions for the real estate market. Granted, the market has struggled to stay afloat amidst a flood of foreclosures and a decrease in mortgage accessibility. Yet in many sectors of the real estate industry, improving numbers indicate that the market may be on the upswing. In fact, according to market analysts with RealtyTrac, foreclosures nationwide dropped 10% from October to November of 2007: that's the largest drop in foreclosures since April of 2006 (Source: RealtyTimes).
"But … (6 comments)
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foreclosure: Maricopa County Real Estate Market May Have Bottomed Out in October 2007 - 01/04/08 03:13 PM
Maricopa County Real Estate Market May Have Bottomed Out in October 2007:
Along with my monitoring of Tempe Real Estate market trends, I have been tracking two Real Estate numbers for all of Maricopa County that suggest that the Real Estate slump may have bottomed out in October of 2007.
The two numbers are
1. The total number of resale properties listed for sale each month and
2. The total number of properties sold.
These numbers can give us a ratio that help determine the absorption rate, namely, how long would it take at the current rate for the inventory … (1 comments)
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foreclosure: Arizona Housing Market Outlook... Not So Dour? - 12/10/07 01:31 PM
There is a silver lining to the "dour" Arizona housing market and economic outlook reported yesterday by the AZ Republic.
I have to put my two cents' worth into the discussion on the Housing Market after a misleading headline appeared on the front page of the AZ Republic 12/6/07.
The headline reads: "Housing market hit harder than analysts predicted".
Last week I attended a seminar given by one of the economists quoted -- Elliot Pollack. I'm sure he wasn't thrilled that his 120-screen powerpoint presentation was boiled down to the following quote: "There is no quick fix. We have a long way … (3 comments)
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Patrick Walsh, Realtor, CNE, Green - Tempe Arizona Real Estate
Tempe,
AZ
More about me…
Keller Williams Arizona Realty
Address: 3920 S Rural Rd Ste 100, Tempe, AZ, 85282
Office Phone: (480) 768-9333
Cell Phone: (602) 369-3224
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