bank owned homes: Phoenix real estate - Market report June 2009
- 07/25/09 12:45 PM
Yeah, I think the bottom of the Phoenix real estate market is passed us. For the third month in a row we've seen the average sale price increase. Now we have a trend. The bidding wars and multiple offers on well priced homes are continuing and even the well priced non-distressed homes are starting to sell quickly. If you're looking to purchase a home here in the Valley of the Sun, you better make a move soon. Here are June's numbers through the week ending 6/30/09:
Active Listings: 7,150 (down 8% from May '09) Homes Pending: 4,492 (up 2% from … (0 comments)
bank owned homes: Anthem AZ real estate - Market report June 2009
- 07/13/09 06:39 AM
The pace of sales in the Anthem AZ real estate market continues to remain heathy. The number of homes actively on the market fell once again. The number of homes that are pending and those that sold in June slowed a bit off the pace of May, but the market is still looking strong. And, for the second month in a row, the average sale price increased. This time, pretty dramatically. The burn rate is down to 2 months now, so based on that statistic we have a seller's market in Anthem. So all in all things continue to point … (0 comments)
bank owned homes: A missive (or plea) to all the R.E.O. agents out there...
- 07/11/09 05:22 AM
If you've followed my blog posts over the years, or received comments on yours, you know how frustrated I have become with the majority of R.E.O. agents. In the Phoenix real estate market R.E.O.s make up a good percentage of our market. Now, I understand the R.E.O. agents are busy. Many of them carry a hundred or more listings at any one time. However, that's no excuse for lack of professionalism. As I've learned through owning businesses and reading many books on business, when you become too busy to handle your business you need to delegate. Hire people to take some … (5 comments)
bank owned homes: Anthem AZ Real Estate - May 2009 Market Report
- 06/03/09 09:31 AM
Just like the Phoenix real estate market, we may have passed the bottom of the real estate market in Anthem AZ. The number of homes actively on the market increased slightly. However, the number of homes that are pending and those that sold in May ratcheted up dramatically. And, for the first time in a long while, the average sale price increased. But still the burn rate is down to 2 months now, so based on that statistic we have a seller's market in Anthem. Days on market decreased as well. So all in all things are pointing up for Anthem. … (0 comments)
bank owned homes: Phoenix real estate - Market report for May 2009
- 06/02/09 08:21 AM
If you were looking for the bottom of the Phoenix real estate market you may have missed it. The tide has turned in Phoenix. Year over year units sold are screaming past last year's figures, almost tripling May 2008's pace. The average sale price saw a second consecutive increase. The first time we've seen this in years. Anectdotally speaking we are seeing bidding wars and multiple offers on well priced homes. If you're looking to purchase a home here in the Valley of the Sun, now's the time. Here are May's numbers through the week ending 5/31/09: Active Listings: 7,764 (down … (0 comments)
bank owned homes: Can we talk?
- 06/01/09 08:01 AM
This post is going to be somewhat of a stream of consciousness type of rant, so please bear with me. And it's directed mainly at the R.E.O. agents. Now, forgive me if you are one of the good R.E.O. agents. This is not directed at you. It's mainly aimed at the R.E.O. agents that are further destroying the image and reputation of the real estate industry as a whole. Now, I know that many of you have dozens, sometimes hundreds, of bank owned listings. That's great. But if that's the case, and you can't handle the workload, either hire some assistants … (2 comments)
bank owned homes: FHA 203k rehab loans...
- 05/26/09 01:47 PM
With the onslaught of distressed properties in the Phoenix area over the last few years has come a need for rehabilitation work to some of these homes. That's where the FHA 203k rehab loan comes in. This loan allows a customer to finance the purchase price or the existing balance and the cost of improvements into their loan amount. Some things to know about the FHA 203k loan: 1. The loan amount is determined by using the after improved value of the property;
2. The buyer may borrow up to 110% of after improved value up to FHA loan limits … (0 comments)
bank owned homes: S&P Report: Banking crisis could last until 2013...
- 05/14/09 07:33 AM
When I read this tidbit scroll across my television this morning my heart nearly sank. "Are you serious?! We could be mired in this mess for another 4 years!" For some real estate markets around the country you've only begun to feel the affects of the housing downturn within the last 6 to 12 months. However, down here in Phoenix we've been mired in it for 3 years, maybe a little longer. So the prospect of having to deal with short sales and foreclosures for 4 more years is daunting and depressing to say the least. I read a lot of … (2 comments)
Yeah, I think the bottom of the Phoenix real estate market is passed us. For the third month in a row we've seen the average sale price increase. Now we have a trend. The bidding wars and multiple offers on well priced homes are continuing and even the well priced non-distressed homes are starting to sell quickly. If you're looking to purchase a home here in the Valley of the Sun, you better make a move soon. Here are June's numbers through the week ending 6/30/09:
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