real estate: 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)

real estate: 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)

real estate: 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)

real estate: September Tempe Real Estate Market Update - 09/26/09 09:44 AM
More of the same...  this will be the third month that numbers have remained stable with regard to supply, demand and inventory. If you don't remember or didn't catch my August blog, please scroll down and read "By the Numbers" in the August Tempe Real Estate Market Update.
Home prices are up for the 4th month in a row:
We have seen a slight up tick in average and median home prices.
Between April and July there has been a 9% increase in median and average price of homes sold in the Phoenix area. (Increasing from $115K to $125k and $160k … (0 comments)

real estate: Here is the least expensive idea for making your home energy efficient and it could save you big bucks....find out how. - 09/08/09 10:05 AM
            Arizona homeowners can easily save money and increase the real estate market value of their residencies by simply sealing air leaks commonly found in many areas around the home.  Sealing air leaks is one of the least costly (and least complicated) ways to begin or continue the process of "greening" a home.  The task requires only a minimal investment of time and supplies, yet it yields a substantial payoff that can last many years.  Sealing leaks keeps hot summer air out of circulation in the home and less air conditioner energy is needed to stay cool.  Later on in the … (4 comments)

real estate: August Tempe Real Estate Market Update - 08/14/09 11:45 AM
Where have all the real estate deals gone?
There have been a couple of dramatic changes in the Phoenix real estate market in the last few weeks.  First, the inventory in the Baseline corridor has disappeared. The number of available real estate deals in the corridor has dropped from approximately 15-20 homes to 3 homes over night!!   
 
Our Keller Williams bank owned property specialist has informed me that in the bank owned arena, there have been significant changes. Our bank owned property specialist was previously listing 20 new properties per week but is now listing 2 new properties per … (0 comments)

real estate: Green homes prove to be a selling point for buyers - 06/13/09 09:25 AM

For those of you still trying to sell a home, there may be an option you haven't considered: going green. Making your home green can make it more marketable, as well as environmentally-friendly. Green homes are in demand - according to Realty Times, the National Association of Home Builders (NAHBR) claims that as much as 90 percent of home buyers think that energy efficiency is a very important factor when shopping for a home. Realty Times goes on to say that NAHBR reports that 72 percent of consumers report energy-efficient features in a home would influence their purchase decision.
As … (1 comments)

real estate: 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)

real estate: Loan Modification Can Help You Save Your Home - 05/15/09 02:59 PM
If you are one of the many people struggling to save your home, then loan modification may be the life raft you are looking for.
 
Loan modification can help you reduce your monthly mortgage payment. While not all homeowners qualify, it doesn’t hurt to look into pre-qualification.
 
To qualify, you must be employed and able to demonstrate that your household income has been reduced. As your Tempe realtor, I would be happy to help you determine if you are pre-qualified for assistance - at no charge to you. No upfront fees, no charge for the results. If there is … (0 comments)

real estate: May Tempe Real Estate Market Update - 05/12/09 07:52 AM
Home sales continue to climb as more and more foreclosures are snatched up by investors. Foreclosure inventory in the last month has dropped from 10,200 to 6,700 – pending home sales are at 8,183, and 5,508 homes were sold in the last 30 days. Investors are buying foreclosures at a faster rate than they are hitting the market.
 
The percentage of foreclosed homes in Tempe is lower than the rest of the valley (8 percent versus 35 percent), which means Tempe’s absorption rate continues to hover at a 10 or 11 month absorption rate. The absorption rate is the ratio … (0 comments)

real estate: Real Estate Market Begins To Shift To a Seller’s Market - 05/01/09 05:17 AM
After a tumultuous two years, the real estate market is beginning to show signs of improvement. During the last three weeks, the Maricopa County absorption rate has steadily declined. 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.
 
At present, the rate is down to an astonishing 5.5 - a few years ago, it wasn’t uncommon for a house in Arizona to sit on the market for 25-30 months. Anything under an absorption rate of 6 is considered a sellers market.
(2 comments)

real estate: 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)

real estate: 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)

real estate: Will the Media Tell Us? - 01/04/08 07:56 AM
Will The Media Tell Us?
 
For the better part of a year now, the airwaves and front pages have been inundated with apocalyptic predictions for the real estate market.  Granted, the market has struggled to stay afloat amidst a flood of foreclosures and a decrease in mortgage accessibility.  Yet in many sectors of the real estate industry, improving numbers indicate that the market may be on the upswing.  In fact, according to market analysts with RealtyTrac, foreclosures nationwide dropped 10% from October to November of 2007:  that's the largest drop in foreclosures since April of 2006 (Source:  RealtyTimes).
 
"But … (6 comments)

real estate: 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)

real estate: 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)

 

Patrick Walsh

Realtor, CNE, Green - Tempe Arizona Real Estate

Tempe, AZ

More about me…

Keller Williams Arizona Realty

Address: 3920 S Rural Rd Ste 100, Tempe, AZ, 85282

Office: (480) 768-9333

Mobile: (602) 369-3224



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