arizona: eBay for Serious Real Estate Investors?
- 06/13/10 05:21 PM
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)
arizona: Real Estate prices are up, according to the Arizona Republic.
- 05/22/10 12:40 PM
Real Estate prices are up for single family homes in the Phoenix Valley but you could have missed it if you hadn't read the end of two articles buried on page D-2 of the Wednesday and Thursday editions of the Arizona Republic. As I have been saying for some time now, prices bottomed out in March of 2009. On Wednesday we learned that Phoenix is one of 91 major cities out of 152 nationwide to post an increase in home prices during the past year. This National Association of Realtors survey showed that prices of existing homes climbed 9.1% in the … (1 comments)
arizona: November Tempe Real Estate Market Update
- 11/25/09 08:37 AM
Last week I attended the Arizona 2010 Real Estate and Business Forecast. Elliot Pollack, Valley economist who has been providing Economic Forecasts for more than 25 years, presented valuable information for homeowners, buyers, sellers, and renters. There was also a panel of real estate experts from both residential and commercial specialties who essentially confirmed what Elliot Pollack reported. The main message from the seminar was this: Economic recovery will be slow... there is no silver bullet. Home values may not be on track until 2013. The barometers of real estate recovery will be: 1) population growth which will be driven by 2) … (3 comments)
arizona: Real Estate Market Continues to Improve
- 06/01/09 09:03 AM
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)
arizona: The Calm Before the Storm
- 04/10/09 07:03 AM
As those of you who have been following my blog know, one of the main statistical areas I have been tracking is the ratio between Active (for sale) and Closed (sold) properties on the MLS. I look at the whole MLS and also target Tempe as a sample of a local market.
At the end of March I noticed that many offers on properties below $150k were going very quickly and these properties frequently had multiple offers. Concerned by this trend I decided to check the MLS and noticed that the inventory was down to 50,200 active listings, 200 away … (2 comments)
arizona: The Real Estate Market Continues to Recover
- 07/18/08 07:55 AM
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)
arizona: Green Builders to give away Toyota Prius Hybrid with Home Purchase
- 05/30/08 04:04 PM
On June 7 and June 15 Eco Builders, Trilogy by Shea Homes, will be hosting an "Eco Expo" in the Phoenix area. Trilogy will give away Toyota Prius Hybrid cars with all homes purchased by June 15. Trilogy will also be hosting their Eco Expos in California, Virginia and Florida. For more details please view the following link: Shea Homes Green Living … (4 comments)
___________________________________________________________________________________________________ It's Your World! How was your Earth Day? We'd love to hear all about it! This month's GreenAZ newsletter takes a look at Arizona's progress in the green arena, how to cut back on air conditioning use this summer and great green flooring! Arizona Solar Power and Energy Efficiency Trivia: •Phoenix based First Solar Inc total shares currently worth 23 billion •An Irish company is investing 100 million in Phoenix based company, Stirling Energy Systems Inc •1,700 Arizona Public Service Co customers have solar power systems contributing to the grid •6,000 APS customers will add solar by 2025 … (1 comments)
arizona: 9th Annual Boat Race!
- 04/25/08 02:20 PM
Every year the Tempe Rotary Clubs organize a card board boat race on Tempe Town Lake. This year was the 9th annual race and dozens of teams competed. Girl scout troop 1386 was sponsored by Patrick Walsh. If you look closely you can see his name on the middle panel! Way to go girls.... If … (5 comments)
arizona: Market Recovery: Are You Ready?
- 02/14/08 05:17 AM
Market Recovery: Are You Ready? After months of doom and gloom, industry-wide panic, and talk of recession, we sure could go for some good news! In one of my recent blogs, I suggested that the market may have bottomed out in October. Housing inventory has not increased since then, and at the end of January, although closed sales were at a 5-year low (partially attributable to the usual holiday slump), the pending contracts to close in February had jumped by 25%.
What do these numbers indicate? They further suggest that we are currently at the bottom of a very shallow trough, … (3 comments)
arizona: Market Watch and 7 Real Estate Indicators
- 01/04/08 07:52 AM
Market Watch and 7 Real Estate Indicators: National housing analyst Tim Sullivan of the Sullivan Group has put together a seven-point test to track the market's recovery. We will be following these indicators closely during 2008 to help keep your finger on the pulse of the Market:
1. Supply and Demand ratio needs to drop to a 7 month absorption rate. This is starting to happen. Supply dropped almost 10% between November and December of 2007, from 56,000 to 52,000. The absorption rate dropped from 20 to 15 months valley wide.
2. Home sales need to stop slowing.Resales … (3 comments)
arizona: Arizona Housing Market Outlook... Not So Dour?
- 12/10/07 05:31 AM
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)
arizona: Tempe Luxury Condo Tour in Downtown Tempe!
- 12/07/07 08:08 AM
On Saturday morning, November 17th, we toured Downtown Tempe Luxury Condos as a group of investors from The Walsh Team's Millionaire Real Estate Investor (MREI) seminars. We first toured the Bridgeview at Hayden Ferry Lakeside complex on the south shore of Tempe Town Lake. These condos are quite luxurious, with spacious and sophisticated one-bedrooms starting at just over $600,000, and three-bedrooms topping out at just over $1.5 million. These units sport spectacular views of the lake, cityscapes, and Arizona State University. This complex is next to the Suncor business center and a soon-to- be- built boutique hotel. Just over 60 units … (2 comments)
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.;)
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