phoenix: Finding Properties that aren't on the MLS - 04/09/14 05:15 AM
A majority of my time is spent finding properties for investors.
Most of these properties are not listed on the multiple listing service.
These are properties found through a variety of means, including:
Wholesalers Trustee Sales Probate Private Party sales Auctions Even when there is a large inventory on the MLS, there will always be investors searching for below-market deals. So, it's as if the inventory will never meet the demand of the investor market.
If you'd like to know more about the services I provide, let me know.
Although many of my investors typically purchase with cash, there are also … (4 comments)

phoenix: Real Estate Investing - Phoenix Real Estate Auctions - 11/08/09 03:09 AM
Real estate investing has always required a little bit of foresight and a modicum of due diligence.
The process has, over the past few decades, been made somewhat easier by the knowledge that time heals all real estate wounds
In other words- even bad deals could be fixed by cost of living adjustments and growth.
Land, being a scarce object, would increase in value because you can't make more of it.
Time is the unknown.
How much time does it take for a property to increase in value?
Now- the time factor has a warp to it.
Some properties are not … (7 comments)

phoenix: In Phoenix- the Housing Market Heats Up - 06/24/09 02:21 AM
This may come as news to a few of you, but not to those who are currently in the market, but.... after a very long pause,  the Phoenix metro area housing market is hot.
Make that sizzling.
Here are some of the hot points:
The inventory of homes is reducing rapidly. There used to be a one-year+ inventory of homes in the metro area. That has dwindled, county wide, to just over five months. In some cities it's even lower. For the first time in 3.5 years we are not in a "buyer's market". We are in that equilibrium phase. For … (11 comments)

phoenix: The Real Estate Agent's "Frenemy" - 06/21/09 09:41 AM
"Frenemy" (sometimes spelled "frienemy") is a portmanteau of "friend" and "enemy" which can refer to either an enemy disguised as a friend or to a partner who is simultaneously a competitor.
Source: Oxford English Dictionary online, draft entry, December 2008 (Via Wikipedia)
I read with interest Harry D'Elia's recent blog post about buying homes on the courthouse steps. Part of the interest is that I too purchase homes at that stage between pre-foreclosure and bank ownership. So, I wanted to see if he got it right. And... I think he did... any difference between his view and mine would be of … (28 comments)

phoenix: A Billion Dollars Says You'd Like to Rock Phoenix - 03/02/09 10:24 AM
Why is it that new devolpments in the Phoenix metro area appear to cost a billion dollars?
That's the price tag that Gaylord Entertainment wants to spend in building a hotel and convention center in Phoenix's east valley city of Queen Creek.
That's also the price tag that has been floated for a Rock-n-Roll theme park near downtown Phoenix.
The park is said to be considered for a 22 acre section of land around Celebrity Theatre.
If you don't know, Celebrity Theatre, it's a local landmark that is known for its intimate setting. No seat is further than 75 feet from … (6 comments)

phoenix: Phoenix Mesa Gateway Airport to be the Country's Next Aerotropolis - 11/06/08 02:21 AM
Real Estate nerd that I am, I've spent quite a bit of time watching zoning hearings regarding the Phoenix-Mesa Gateway Airport. This is the area that includes the old Williams Air Force Base and the nearby General Motors Proving Grounds.
As the Valley of the Sun has continued to grow in size- these once distant locations have been eyed by visionaries and potential citizens alike as a prime destination. The city of Mesa, working in harmony with the cities of Queen Creek and Gilbert have been spending a great deal of time making sure this new population center will be well … (4 comments)

phoenix: The Narrow "Free Money" Window for the First Time Homebuyer - Update - 08/02/08 05:26 AM


Attention First Time Home Buyers:
There is a very a narrow window of opportunity right now.
I'm talking about those who go into contract before October 1st.
You'll be able to qualify for down payment assistance programs that pay most (sometimes all) of your closing costs.
You'll also be able to qualify for the tax credits that will be made available through new legislation. This is a credit toward your taxes valued at up to $7,500.
UPDATE: The details are thus... Any home purchased between April 9, 2008 and July 1, 2009 can qualify for $7,500 or 10% … (11 comments)

phoenix: The Accidental Millionaire - 07/09/08 07:44 AM

Beverly Hillbillies Mansion- Photo By Alan Light
America is home to accidental millionaires. 
These are they who didn't plan on becoming wealthy; it just, for lack of a better explanation, sort of happened.
This is how an older friend explained it to me. "I arrived in town with hay in my ears. Bought some land way out there and then everyone else showed up. I didn't think this land was worth much more than I paid for it and next thing I know it's valuable."
It is the law of supply-and-demand in action.
Unless we can learn to harness … (11 comments)

phoenix: Nice Surprises in the Market News- Both Nationally and in Arizona - 06/29/08 12:23 PM

 
"Act surprised" ... that's the command I gave my daughters as they unknowingly became a part of my blog-marketing campaign.
Fortunately they put up with me.
OK... for about 3 seconds... and no do-overs.
This is a brief snapshot with my wrap-up of this week's market news. There's some good... some not so good but, overall I'm pleased with the direction of things.
Here are the good surprises:
"After-tax incomes and spending show big gains" - That's the market headline from the associated press. Another quote within the article, "The Commerce Department reported that disposable incomes, the amount … (4 comments)

phoenix: Unlisted Investment Properties - 06/14/08 06:17 AM
One of the little known secrets of real estate is that there are agents who have a significant portfolio of investment properties that are not be listed.
You won't find them on the MLS or any website.
Why would this be? Here's a partial list:
Sellers don't want to the publicity. They will ask an agent to "get the word out" and see if they can reach a private settlement. The properties require a great deal of due diligence. Some properties are off the beaten path. They may have beautiful scenery or might be located in areas that have no sales … (8 comments)

phoenix: Phoenix Light Rail- Entering Final Stages - 05/11/08 08:51 AM

The last segment of rail has been added to the Phoenix Metro's 20 Mile Light Rail Line.
What began in 2001 is now entering the final stage- testing.
Travellers should be able to climb aboard by the end of the year.
For those who want details of the project timeline, go to Valley Metro's Site.
If you'd like to see the metro in action, check out their video page.
I'm quite eager to see what effect this new form of transportation has on our urban landscape.
I'm quite convinced it will have a dramatic, positive effect on nearby real estate.
… (4 comments)

phoenix: Livin' La Vida Robot - Local High School Takes on M.I.T. - 04/24/08 01:15 PM
In April of 2005 Wired Magazine published one of *the* feel good stories of a lifetime.
It was called "La Vida Robot" ... It's the adventure of a group of inner city high school students from West Phoenix who dared to compete in a NASA sponsered science competition against the best and the brightest students from the more legendary colleges in the nation.Their task was to build a remote controlled, military grade robot that could maneuver underwater and perform a series of complex repair oriented tasks.
All parts and materials were to be purchased with funds from doners. M.I.T. received $5,000 … (7 comments)

phoenix: Where are We Now in the Correction? If I had a TV Show.... - 04/11/08 09:19 AM
If I had a TV Show... tonight's news may go something like this...
Previously on "Arizona Real Estate Live!" (cue upbeat southwest music)...
Cut to: scenes of luxury vehicles passing scenic vistas in the hills of Scottsdale to a distant view of the impressive skyline of Phoenix.
Announcer: Since the turn of the millennium, Arizona has become America's destination of choice for those seeking new jobs, a leisure paradise or a big city with small city prices.
Insert "dollar signs" graphics- "then the price corrections began."
Cut to 'expert on the street' interview:  "Phoenix is a top five population city. We … (4 comments)

phoenix: 1935 Advertising - Arizona Tourism Nostalgia - 03/12/08 08:31 AM
It's fun to look back.
As anyone who has ever "gone home" has discovered... sometimes our memories are hazy at best.
That mountain you remembered as a child really is closer to a molehill. The big buildings? - small. The big city itself? - little. Thankfully- there are some memories that can not be changed.
The memory of fun times and great friends. The taste of grandma's cooking. The fragrance of mom's flower garden. You get the picture.
Everyday I pitch the quality of life in Arizona.
I have to admit though, that this must have been a greater challenge in … (6 comments)

phoenix: Latest Trends in Arizona's Valley of the Sun Real Estate - 03/01/08 10:44 AM

Here's what has come down the road in my little area of the world (Phoenix Arizona Metro Area):
Buyers are coming to Arizona. We're dealing with more buyers from Canada and the north eastern United States. These are mostly investment buyers who are concentrating on homes that can be purchased and then rented with positive cash flow. Buyers are taking advantage of the Sub $200k market. Here's a great article. Some zip codes are noticing price increases and faster resales. These areas include isolated neighborhoods in $200k+ Scottsdale, Tempe and Northeast Mesa. Some new home builders are banking on the … (3 comments)

phoenix: 10 Best Places for House Bargains- Phoenix #5 - 02/11/08 04:02 AM

Phoenix Skyline by Bradley Cooper
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Realtor.org has an interesting report today that links to a Forbes article by Matt Woolsey about the Ten best cites for bargain hunters.   The top five are: Salt Lake City, UT Raleigh, NC Orlando, FL Charlotte, NC Phoenix, AZ Let's focus on Phoenix. Phoenix "is the largest city in the American Southwest and is the region's primary government, cultural, economic, and transportation center."  It's also the fifth largest city in the United States.   People keep moving here.   Phoenix is in Maricopa County- the fastest growing county in America.   Phoenix is … (6 comments)

phoenix: What is Infill? - 01/29/08 04:32 AM

According to the latest wikepedia entry, Infill is "the use of land within a built-up area for further construction, especially as part of a community redevelopment or growth management program or as part of smart growth. It focuses on the the reuse and repositioning of obsolete or underutilized buildings and sites."
In other words, Infill is empty land within an otherwise developed area.
Cities tend to grow outward. New home developments spring up on the outskirts of town because that's where the available land is.
Whenever land becomes available in higher density areas, builders will give it a good look. … (7 comments)