Ken's Blog

Wow the market is starting to pick up. Prescott Arizona

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 28 Jul 2009 22:10:08 -0500

I have noticed over the last couple of weeks that buyers are pulling the trigger. Sure they are offering low but that is the market. I have even seen some people looking for land as of late. I have a tickler file that I put buyers on. They have been getting more and more active. It is a great thing having the tickler file. It gives the buyers more power as they see what is happening in their search critieria of homes or land. They even know about their search items before I do. I guess it goes back to why shop left overs when you can see the first things on market first. So if you are interested in getting the information first just email me and we can get you started..

Looking for real estate deals in Prescott, AZ

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 26 Aug 2008 08:37:58 -0500

I get calls from all over the country. They like the mild climate and the centralazation of the area. There are many things to do that are only a couple of hours away. Phoenix,Grand Canyon, Sedona,Laughlin, Lake Havasu and even Las Vegas. This is everyones hometown and is growing. Every month it seems like new stores and restuarants are opening in the tir-city area. Construction has slowed but there are signs it may pick up. It is a good time to look for deals as the buyer is in power. UNlike the past couple of years sellers are now dropping prices, helping with closing cost. I must admit if sopmeone is looking to buy in Prescott they can get a great deal. Unlike in the recent past where prices were sky rocketing they now have been dropping.

So if your looking for a deal or looking to retire in a couple of years, buy now and buy and hold a fantastic piece of land for those retirement years. Lots that were listed for $300,000 are now selling in the $130,000 range. Wow..

So if you want to just look and keep an eye on the area all you have to do is call or email me and I will set you up on a property alert. No pressure from me just get emails as properties that meet you interest come on the market or adjust in price. Matter of fact you will have to let me know through the system if your want more information on those properties.

So call me at 928-713-9632 or email me at kenprescottrealtor1@cableone.net and start watching for the DEAL....

Contracts are being Written and the market is showing some movement

Ken Nimmo (Coldwell Banker Brothers Realty) — Thu, 26 Jun 2008 08:38:42 -0500

In the last couple of weeks I have seen an increase in agents bring contracts to the table. I myself have written a few too. So the question everyone out there needs to ask themselves is where do you want to be. Buying at a slightly higher than the bottom prices or miss the bottom and start trying to buy when the market is correcting to a normal market? Tough question, I think an easier question is what are your goals? If you are thinking about buying what is the end result of the purchase. Let's think about that for a second.

Quick turn around? That is a tough one in today's market.

Buy and sell in a year? possible but the market is still a little volital.

Buy and hold or rent for 3-5 years. That is where I think the best chance for profit is right now.

That leads to the next question.

What to buy?

Multi-family is getting very reachable for a lot of buyers. FHA loans are availible if you are willing to live in a unit of the multi-plex. Land is getting really reasonable now. Fixer-ups are hot and that keeps price higher than they should be. Then there is the foreclosure and pre-foreclosure markets. Highly competitive right now.

So what are your goals?

Chino Valley Arizona West Road 3 South

Ken Nimmo (Coldwell Banker Brothers Realty) — Mon, 23 Jun 2008 07:46:46 -0500

Price reduced to $285,000

2386 SF 2 car attached garage and more and more.

If you are looking for trees and a level lot. Wow here it is. Private patio with water feature. Oversized 2 car garage. Juniper trees surround the property. Drip system installed. Great room has a fantastic fireplace and hearth. Extra insulation in attic. Dog run. Water faucets through out the property. Views. Property looks even biggger than it is. Pleanty of room inside and out.... Furnishing that are currently in the home may convey.

MLS# 928442 Prescott Arizona area.

Prescott Arizona buyers

Ken Nimmo (Coldwell Banker Brothers Realty) — Wed, 28 May 2008 09:13:16 -0500

I am looking for 3 buyers to work with at this time. There are deals and deals out there. It just depends on what you are looking for? Home, Land or investment property. You can searchg the MLS by going to my site www.kennimmo.com

The market is down and may go lower . Be ready though because it will turn around. That is when you need to strike. I also have a MLS alert program that I can set you up on. No pressure to buy. You let me know when you want to see or make an offer on a property. Always remember it is your money..

Prescott area of Arizona info..

Ken Nimmo (Coldwell Banker Brothers Realty) — Thu, 10 Apr 2008 08:14:23 -0500

"Prescott is everyone's home town"

"Prescott is a deck community"

Hey what can you say about the area.

4 mild seasons.

A little snow in the Winter.

Some heat in the Summer(not to mention the awesome monsoons)

Some wind in the Spring

Some Cicadis in the Fall ( LOL )

Only a couple of hours from all kinds of recreation not to mention all the things to do locally.

Anyway the area even in today's market is growing. Tons of commercial and the subdivisions are putting along and there are some custom homes being built to. Along the main drag between Prescott and Prescott Valley is a busy busy place these days with hotels, apartments and many storesand restuarants popping up. There is even a Arena football team, Playoff hockey team and many events at the Tim's Center For the market to be so bad there sure is lots going on. So I thought I would post some stats of inventory of homes and land in the area.

New mortgages are getting creative FHA is loosing there restrictions.

It is time to buy if your in the market for Real Estate. Nobody knows when things will really start to pick up but when it does look out. Right now there are some big deals out there..

Inventory

3036	Residential
30	Business Opportunity
3721	Vacant Land
78	Multi-Family
343	Commercial/Industrial

Anyway I thought I would throw that out there. Maybe there is not so much doom and gloom.

Chino Valley Arizona For Sale

Ken Nimmo (Coldwell Banker Brothers Realty) — Mon, 10 Mar 2008 08:33:46 -0500

1875 Yvonne Way, Chino Valley

! Low E Windows

! Stem Wall

! Big Kitchen

! Split Floor Plan

! On Sewer

! Natural Gas Avail.

! Garden Tub

! Kitchen Island

! Rock Landscaping

! Nice Back Yard

! Long Driveway

! Room for Garage

MLS # 922529 $129,900 Ken Nimmo ( Realtor )

www.kennimmo.com 928-713-9632, 480-585-0809

Kenprescottrealtor1@cableone.net

Prescott, Prescott Valley FYI Arizona

Ken Nimmo (Coldwell Banker Brothers Realty) — Sun, 24 Feb 2008 08:28:26 -0600

Well as things are changing and people are thinking about retiring and relocating I thought I would post an FYI of the Prescott and Prescott Valley areas of Arizona. So here it goes.

Prescott has a mall that has now been established for a few years. New comers

Texas Roadhouse, World Market and a staple Wildflower Bread Company ( Yum Yum)

Rumors of a convention center are nearing.

Prescott Valley has taken a growth stance and in the last few years have brought some new things to.

IHOP, Sundogs hockey team, Adrenaline arena football, ice skating, theaters, a bundle of new restaurants and a hospital, Kohl's, with more to come.. Walmart, Sportsman's warehouse, Home Depot, 3 hotels, Library and much more.

Even in todays market there is growth. It is coming and coming.

When I moved here Prescott Valley wasn't much. Now with the Hose race track, dirt car track, and the many activities around the new main hub there are things for everyone. It is really exciting.

So there is a little FYI for all of you.........

Ken

Prices dropping because of the foreclosure market

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 23 Feb 2008 16:05:12 -0600

I have been seeing prices dropping past the 2003/2004 market prices in communities. Places where lots were selling in the $200-$450 K range are now seeing lots sell for $120k to $150K. I have been watching communities in my area and there are a few that are about to see 10-15 lots hit the resale foreclosure narket at huge discounted pricing.

If it is happening here in Arizona I am sure it is happening across the US. Have any of you seen this in your markets?

I personally have worked with buyers waiting for this. It has only been a matter of time. They are still watching but I am seeing them to start making offers at huge discounted prices. The sellers are starting to see it to and there area some deals being made. That being said.

From 2005 through the beginning of 2006 was a huge swing in the pricing teeter totter. Is this the time when the teeter totter is going the other way? Has the swing just begun or is it getting close to the bottom?

A smart investor once told me.

"Ken, Buy land and then buy more land and just wait. The market will go up and down. WHen it goes up sell and put your money away. Because it will come back down. Then buy again. It is a never ending cycle. The key is to not wait to long either way! This works because there is only so much land and people will always want it."

I have always remembered that. It must be 20 years ago that he said it. Only now do I realize his words. Hell what is 20 years.

What is the best web host for your Real Estate site?

Ken Nimmo (Coldwell Banker Brothers Realty) — Mon, 18 Feb 2008 06:46:14 -0600

I may be showing my lack of being willing to change. But I have had this web page up for quite awhile. www.kennimmo.com and haven't really had many leads generated. Most of the traffic has been directed by my personal direct or advertising. I was wondering if any of you have had a hosting company that works for you? I get all kinds of offers but never any real recommendations. Looking around at so many gets old. Who do you go with? What is a reasonable fee for their services? Do many hosting companies actually drive traffic to your site?

I am at a loss, can you help?

I am in two markets Real Estate and building of homes (Prescott,AZ)

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 09 Feb 2008 08:29:02 -0600

I have noticed that the market has seen a little spike in the last week. I am a Realtor and also sell insulation. In todays market we must do what we have to do. I have seen more building starts in the last 2 weeks then there has been in the last 2 months. Building permits that were pulled months ago are starting to make the move. Spec homes in the million plus market are coming out of the ground. Subdivisions are starting to build inventory and Real Estate calls are getting more and more. Why?

I think because contractors and investors see the drop in interest rates and feel the buyers may start making moves. Those with spec homes or inventory will be the first to prosper. Those who are waiting and losing employees will be trying to catch up. The buyers are not going to want to wait for a home to be built. Immediate gratification comes to mind.

Buyers are seeing the rates droppping and the stimulus packages coming and they don't want to miss the boat. The packages will go away and right now is the best time to jump. By the time the buyer locates a property and puts it in escrow the packages should be goiing full bore. If they wait and see they could miss it.

That is what I see and feel about the market.

NOW IS THE TIME TO GET BACK IN THE GAME...

Wow $10,000 price reduction in the heart of Chino Valley, Arizona

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 05 Feb 2008 07:32:19 -0600

Practically new doublewide mobilehome minutes from shopping and schools. Recently hooked up to the new city sewer. Hand placed rack landscaping and paved road. This home is ready for the first buyer to come in with $129,900. The MLS3 922529 is an easy way to find it or just go to my website located at www.kennimmo.com

Chino Valley Arizona home for sale

Ken Nimmo (Coldwell Banker Brothers Realty) — Mon, 28 Jan 2008 07:34:51 -0600

1875 Yvonne Way
Chino Valley
MLS# 922529 $139000

Here is a ready to move in home located in the heart of Chino Valley Arizona. It is practically new and waiting for you. The front landscaping is hand stacked red rock. Plenty of room for a garage here. The backyard is waiting for your personal touch. Recently hooked up to sewer and natural gas is just a hook up away. With a paved road and shopping/schools near by what else could you ask for. The kitchen is big and convenient for cooking or entertaining. Split bedrooms gives the parents their privacy and a little quietness. There is a laundry room and plenty of livingroom for your relaxation.

All you have to do is make your move to contact Ken. See if you qualify for the Coldwell Banker Brothers Realty $500 closing cost incentive.

Ken Nimmo

928-713-9632

www.kennimmo.com Kenprescottrealtor1@cableone.net

8525 E. Pinnacle Peak Rd. Suite 100

Scottsdale, AZ. 85255

480-585-0809 www.coldwellbankerbrothersrealty.com

What to tell a friend. Losing a home.

Ken Nimmo (Coldwell Banker Brothers Realty) — Mon, 28 Jan 2008 06:49:09 -0600

I have a friend that has a home that they are really upside down in Loan amount is around $450K and they can't get a look at $430K. The market is looking at $350K now. They are not behind on payments and this is a second home. But they could be swirling the bottomless pit. They talked about just giving it back to the bank. They just can't make two mortgage payments anymore. The home is empty and they can't rent it for anywhere near the payment.

Talk to bank and see what options they have?

Give it back to the bank with a deed in lieu of foreclosure to save attorney fees?

Try an auction?

They are at a loss. There home appraised for $525K in early 2006. We all know that doesn't matter but they are feeling it now.

Do you have any suggestions?

Green home building

Ken Nimmo (Coldwell Banker Brothers Realty) — Fri, 25 Jan 2008 06:42:58 -0600

This weekend I am going to a all day long home building seminar for green construction. It does seem to be the trend in the market and I for one want to know what methods are out there. I also work with an insulation company that sells green fiber and formaldehyde-free insulation. So it is a natural for me. Do you feel there is more and more green building going on in your area?

Remember your goal. Buying to selling.

Ken Nimmo (Coldwell Banker Brothers Realty) — Fri, 25 Jan 2008 06:34:58 -0600

The Real Estate market still falling?

Everyday we hear about the Real Estate market falling and falling. I for one am starting to get calls on investors looking for deals. If you are one of those then ask yourself what strategy are you looking for? Set goals and exit stratagies before you make any moves. Know where a good deal is for you and where you would want to get out. Then figure how much money your willing to put out there and for how long. The days of tripling your money are now far and few, so where do you want to be?

Land,

Great time to look as sellers are starting to realize that the current pricing is really high. They need to figure on about 25% of the housing retail price. So a good goal is to look at housing and consider making offers in the 20-25% range of that. Remember in today's market closing costs can be offered in the deal. This is not a rule just a strategy.

Homes,

Look for the motivated seller, pre-foreclosurers, fix-ups, homes with splitable land and take a long look on your reaeson for the purchase, Invest to rent, fix-up or second home, first home. Sell and carry paper.

The goal needs to be of the utmost importance.

If you can get in and make a 25% return on your investment in the next year, that is when you ask yourself is that enough.

The biggest mistakes I see are when the exit goal is overshadowed by greed. That mix fails 9 times out of 10. ESPECIALLY in todays market.

So what is your goal?

Local Real Estate magazines vs. Radio ?

Ken Nimmo (Coldwell Banker Brothers Realty) — Wed, 23 Jan 2008 06:47:15 -0600

I have been in Real Estate now for years. Well long enough to start getting GRAY HAIR. LOL.

I tried advertizing in the local magazines. Spent alot of money with only a few calls. My ads ranged from single property profiles to a newsletter type print ads. I even had other Realtors ask if they could use my format. The funny thing was they were the only calls I was getting. LMAO. True story.

So I have been thinking about some radio ads. Have anybody used them? Did you get the expected response?

We have to stay out in front of potential buyers and sellers. I don't want to spend 100's or 1,000's of dollars for nothing.

What have you seen that works?

Ken looking for exposure

Starting to see some new financing, Good?

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 22 Jan 2008 07:31:13 -0600

Recently I have been approached about new financing for new mobile homes/land packages. Finally some loans that can help people get their dream started. With all the bad publicity most first time home buyers are scared to death to try and buy. So as these market motivaters come out, be responsible to your clients and talk with them about the purchase and financing that is available. Let them know about the different plans.

Remember as Realtors we are suppose to give good advice. Treat your clients as if they were you. Help them, guide them through the process, use reputable loan people. It will come back to you if you do.

Don't set them up to fail. Help them to succeed....

Tell them about Due on sale clauses.

Tell them about truth in lending

Tell them about the reality of adjustables

Tell them about pre-payment penalties.

ASk them their goals for the next 5 years. It matters, If they are moving in 2 years a pre-payment penalty could be devasting.

Remember you have a fudiciary duty to them.

We all want the dream try and make theirs a good dream not a nightmare.

First day on market, Chino Valley Arizona land

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 22 Jan 2008 06:59:29 -0600

Just hit the market is this 2 acres of land just outside of Chino Valley Proper. Horses are welcome.

Locateed about 15-20 minutes North of Prescott, AZ. Great place to live. You can be in Phoenix in less than 90 minutes, Laughlin (River,casinos) in less than 2 1/2 hours, Grand Canyon in less than 4 hours.

The lot has a nice flat area perfect for an arena and a gentle rise for a home to have views of the San Francisco peaks and Granite Mountain. The area is growing and more and more things to do. Like shopping, hiking or just relaxing in front of a fire.

$134,800 MLS # 923914

Email Ken at kenprescottrealtor1@cableone.net

Coldwell Banker Brothers Realty

Chino Valley Arizona Mobilehome

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 22 Jan 2008 06:46:34 -0600

3/2 home in the heart of Chino Valley. Close to schools and shopping. New subdivision down the street. Only minutes from the new Chino Valley pool and rec center. If you like hiking or exploring the National Forest is only a few minutes drive. Recently hooked up to the new sewer system. This house is really cute.

Priced to sell at $139,000

MLS# 922529

1875 Yvonne Way, CHino Valley Arizona

Email Ken for more details.

kenprescottrealtor1@cableone.net

Happy New Year.. Changes in store

Ken Nimmo (Coldwell Banker Brothers Realty) — Tue, 01 Jan 2008 10:29:16 -0600

I am seeing prices drop like flies in the Prescott Arizona area. Land is finally becoming affordable.

Yes people can now buy nice pieces of land and or lots under $100,000.

I am seeing buyers looking at buying and holding and even some that are looking to build a spec or two. That is good news.

There is some light at the end of the tunnel, I hope.

I don't think I am the only one who was looking for 2007 to end.

What do we have to look for now.

I think and it is only my thinking. Things may pick up it being a election year.

I also feel that the sellers are starting to realize that prices got really inflated and are starting to drop them, even if it means they are going to have a loss. I talk with sellers all the time and some of them can see the writing on the wall. They look at there gains and figure having a loss or two is expected. Then there are those who still think they should be doubling there money.

The selling market dosen't seem to be rising.

The buyers are not making full price offers and are asking for closing costs too.

The question sellers have to start making are, Do I take a lower offer or risk losing the buyer if I counter.

That is a tough question in today's market.

Well anyway enough rambling. I haven't been on in awhile.

Happy New Year and may you help your clients prosper.

By the way it will help you to prosper too.

OPEN HOUSE in Prescott AZ. 4205 sf 5/3

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 17 Nov 2007 07:29:56 -0600

On Sunday 11/18/2007 between 12:30 and 3:15 PM this home will be having an open house. It is located on the Northside of Prescott minutes from downtown.

2493 Kenneth Place, Prescott, AZ. 86301

County:	Yavapai	Area:	120	Unit:
Year Built:	2006	Subdiv:	Osburn Subd	Tax Parcel:	116-08-022
Apx SqFt:	4205	Phase:		Res Type:	Site Blt Sgl Fam
Stories:	2	Lot No.	22	Incorp Area:	Yes
Bdrms:	5	Acres:	1	Irrig Rights:	No
Split Bdrm Plan:	Yes	Lot Size:		Bldgs:
Full Baths:	3	Zoning:	R1l17	Src Meas:	Builders Plans
3/4 Bth:	0	Flood:	CLO	Rent/Lse:	No
1/2 Bth:	0			List Type:	Exclusive Authority
WH Gal:	50			Occupancy:	Vacant

Legal:

Park Terrace Lot 22

HOA:	No	HOA Dues:		Y/M/Q/S:	HOA Type:	None
Taxes:		Tax Year:		Assmnt$:	Assmnt$ Y/S/M/Q:
Warranty:	Contractor	Owner:	Excel Enterprises		Owner Phone:	() -
Mfg/Mobile:	No		Builder:	Excel Enterprises

Int Features:	Bar/Wet Bar , Ceiling Fan(s) , Counters-Granite , Eat-In Kitchen , Fireplace-Gas , Garage Door Opener(s) , Jetted Tub , Kit/Din Combo , Live on One Level , Master On Main , Raised Ceilings 9+ft , Smoke Detector(s) , Utility Sink , Walk-In Closet(s) , Wash/Dry Connection
Ext Features:	Driveway-Concrete , Outdoor Fireplace , Porch-Covered , Screens/Sun Screens , Storm Gutters
Appliances:	Compactor , Convection oven , Cooktop , Dishwasher , Disposal , Double Oven , Microwave , Refrigerator
Utilities:	220 , Cable TV , Electricity , Natural Gas , Telephone , Underground , Water-City , WWT- Septic-Conventional

Style:	2 Story , Contemporary	Cooling:	Ceiling Fan(s) , Central Refrig.
Heating:	Forced Gas	Construction:	Block , Stucco , Wood/Frame
Fnd/Bsmt:	BSMT-Finished , BSMT-Walkout , FOUND-Stem Wall	Windows:	- Aluminum , - Double Pane , - Screens
Flooring:	Carpet , Concrete	Location:	Sloped-Steep , Hillside , Cul-de-Sac , Views
Roof:	Architect Shingle	Garage:	2 Car Attached Garage
Views:	Granite Mtn. , Panoramic , Valley	Road Acc:	ACCESS-City , ACCESS-Dirt , MAINT-Private
Water Htr:	Natural Gas , Two or More , Re-Circulating	Pets:	Domestic
Records:	On Site WWT Sys. Permit	Other Rms:	Laundry Room
Show Inst:	Lockbox-Occupied , Sign on Property	Finance:	Cash , Cash to New Loan
Subdiv Feat:	- None

Directions:

Willow Creek to Nolte, East to Ridge Rd.,Left to Kenneth Place, Left to home on right

Remarks:

Contractors home with upgrades through out. Side by side separate SubZero refrigerator, Freezer. Commercial kitchen to cook in with high end Granite counters and contemporary cabinets. Unique lighting package. Twilight fireplace between living room & Deck. Tile floors throughout home. 3 bedrooms up and 2 bedrooms down. Large laundry room. Two 2 car garages, one up and one down giving each floor a garage. Over 1000 sf of decking with fantastic views. Kitchenette downstairs.

This is a normal market? I just read that in one of my blogs..

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 03 Nov 2007 09:29:25 -0500

I hope this isn't a normal market as I am seeing a lot of good people losing their jobs.

I see over 170 mortgage compnies not doing loans since Sept. 2006

I have seen Title companies that have been in business over 30 years close their doors.

I am seeing alot of Realtors going under or getting a second job.

I see more and more garage sales.

I am seeing companies downsize to the bare minimum.

I see building permits at an all time low.

Major companies are struggling to keep their employees working in the construction field.

I have talked with sub contractors and contractors that have never in 30 years seen it this bad.

There is a lot of inventory out there. But with that kind of inventory how can the market be down 70 % in some cases if it is a normal market?

What is next?

Wow.. Where will we hit bottom

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 03 Nov 2007 08:24:05 -0500

I was in a meeting a couple of weeks ago. In the meeting the speaker , President of a sub contractor company. Talked about where the market was and what the analysis were predicting. The homework he did was very thorough and he made some great points. The anaylsis predicted that the housing market would hit bottom in Sept. 2008. With the number of new housing permits to be around 1,200,000. Funny thing happened.

The next morning before more meetings I read in the USA TODAY that in Sept. 2007 the new housing permits were 1,191,000 nation wide. Wow

So are we nearing the bottom or can we expect the Real Estate industry to level off?

I wish I knew...

I'm BACK hey it has been a while. Let's talk about OUTDOOR GREATROOMS

Ken Nimmo (Coldwell Banker Brothers Realty) — Sat, 20 Oct 2007 10:32:37 -0500

As the Real Estate market flounders more and more people are improving there homes. Instead of adding on to their homes for $50,000 they are taking a less expensive and more atmospheric way. It is the new trend. They are setting up an outdoor greatroom. So I was wondering if any of you have seen this happening in your areas. I have noticed that builders having to discount their spec homes to sell them are now offering outdoor upgrades to help bring their prices up. What do you think?