If these are not affordable then I just don't know what is.  A newer 1,400sf home built after 2000 for less then $100,000 in a popular area of the valley with very good prospects. 

Sales of homes under $100,000 went up 4,395% over last year.  Yes, that is four thousand three hundred ninety five percent.  Sales of homes from $100,000 to $125,000 went up 1,690% over last year. 

Continue reading the article at our blogsite.

This is a sample of a postcard going out to 10,000 +/- 9,750 homes.   I was just a bit tired of being serious, but, none the less our Phoenix Home Search is that good.

Warren Buffett recently said that he gets scared when people get greedy and he gets greedy when people are scared and people are now scared, and he probably knows a thing or two, and I have a hunch he is right, especially when you look at all the times -previous market cycle downturns- a very few people got wealthy while others were drowning in fear, self loathing, complaining and bickering, especially on the tele.

In studying all the other market corrections and human psychology we see a clear pattern, a pattern which is quite predicable and can be used to an advantage by those who are conscious and in a position to do so.

Prices are ridiculously low...

Continue reading the article.

The Olympus is an interesting condo complex with Romanesque architecture detail on the interior and exterior: some call it an architectural gem and it may be so: it's certainly not a common condo complex. 

The Olympus is a complex of 36 condominiums with a average square footage of 1,489 square feet.  It was built in 1964 but it's been well cared for and many of the units have been remodeled in different styles.  A common remodel now is to leave the barreled concrete ceilings bare and raw leaving the viewer in awe at this architectural detail.  These are also modern and contemporary lofts.

Continue Reading, see units for sale and photos.

Sales, permits and demand is down for new homes: and that is a good thing.  We don't need more inventory in the market and there are plenty of resale homes which are virtually new: with some being less then a year old.  Many of these are REO properties or lender owned properties which represent a very large part of that sales market in many parts of the Phoenix valley. 

The chart below represents 4 points for each year since 2003 for new and re-sale home sales.  The numbers are a combination of both single family home and condo sales in Maricopa County not just the ARMLS.

Continue reading the article and see the graph.

	Is the Phoenix Real Estate Market Overcompensating?
	Greater Phoenix average price has retreated back to 2003: before the run up.
	Phoenix Real Estate Market Trends Overview | Housing Market
	Current and Historic graphs of the real estate market in Greater Phoenix

The large supply of lender owned or REO homes are priced--in most cases--to sell.  Lenders don't know much about a home so don't expect a seller property disclosure statement (SPDS) and DO expect to be buying the home "AS IS", WHERE IS". 

That means that the lender is very unlikely to do any sort of repairs for you.  Still, this should not stop you from doing an inspection.  In fact, you should do an inspection because it is a non-owner occupied and lender owned home. 

These homes are usually in need of some repairs and often lots of repairs.  Although there are an increasing number of home where the lenders have put in money to make them move in ready.  But, there are additional threats to homes that sit vacant. 

Continue Reading the rest of the article.

On the East Size of Sunnyslope right along the west foothills of the Phoenix Mountains is an area which may surprise many: especially those who harbor a false view of Sunnyslope as a bad area.  

Drive up 16th St. from Northern then take the small streets north along the hillside and you'll see an amazing mix of home: many were custom built while others like the 50's ranch homes sit amongst some quite appealing mid-century modern houses. 

SEE All Homes For Sale In East Sunnyslope

Continue Reading The Article

The value of separate meters on a property cannot be underestimated.  Most multifamily properties have one meter for water and maybe separate meters for electricity: in small multifamily properties is normal to have individual electric meters but it's uncommon to have the same with water: that's probably why its often missed.

Below we'll compare two similar properties: one with separate water meters and one with a master water meter and the affects on income and the property value using a cap rate for evaluation.  This is just a simple evaluation to make a point. 

The properties are very similar: the rents collected from the tenants are the within 5 dollars of each other on average so we'll just use the same rents for the sake of being clear.  Also, since other expenses vary like taxes, insurance, maintenance and landscaping we'll reduce the analysis to the water, sewer and trash expenses since the other expenses have no bearing on our topic.

Continue reading and see examples.

The Preserve by the Phoenix Mountains

The Phoenix Mountains Preserve offers mountain bikers, road bikers, hikers, walkers and admirers of the desert mountains a setting for expression and indulgent.  It's difficult to get bored especially if you're willing to explore the preserve using a multitude of transportation modes: there is the low valley where from the midst the city is not visible to Piestewa Peak where the entire Phoenix valley exposes itself in panoramic glory and during sunrise or sunset it bursts with spectacular warm light.

Continue Reading The Article.