phoenix real estate: Home Sales Increase Over 4,000% in Greater Phoenix.
- 12/18/08 11:13 AM
If these are not affordable then I just don't know what is. A newer 1,400sf home built after 2000 for less then $100,000 in a popular area of the valley with very good prospects. Sales of homes under $100,000 went up 4,395% over last year. Yes, that is four thousand three hundred ninety five percent. Sales of homes from $100,000 to $125,000 went up 1,690% over last year. Continue reading the article at our blogsite. … (0 comments)
phoenix real estate: 6 Reasons To Buy Real Estate Against The Crowd
- 11/12/08 10:08 AM
Warren Buffett recently said that he gets scared when people get greedy and he gets greedy when people are scared and people are now scared, and he probably knows a thing or two, and I have a hunch he is right, especially when you look at all the times -previous market cycle downturns- a very few people got wealthy while others were drowning in fear, self loathing, complaining and bickering, especially on the tele. In studying all the other market corrections and human psychology we see a clear pattern, a pattern which is quite predicable and can be used to an … (0 comments)
phoenix real estate: New Vs. Resale Home Sales in Greater Phoenix
- 10/29/08 12:52 PM
Sales, permits and demand is down for new homes: and that is a good thing. We don't need more inventory in the market and there are plenty of resale homes which are virtually new: with some being less then a year old. Many of these are REO properties or lender owned properties which represent a very large part of that sales market in many parts of the Phoenix valley. The chart below represents 4 points for each year since 2003 for new and re-sale home sales. The numbers are a combination of both single family home and condo sales in … (0 comments)
phoenix real estate: Just Because It's As Is Does Not Mean You Don't Do An Inspection
- 10/24/08 09:51 AM
Phoenix REO properties and due dilligence. The large supply of lender owned or REO homes are priced--in most cases--to sell. Lenders don't know much about a home so don't expect a seller property disclosure statement (SPDS) and DO expect to be buying the home "AS IS", WHERE IS". That means that the lender is very unlikely to do any sort of repairs for you. Still, this should not stop you from doing an inspection. In fact, you should do an inspection because it is a non-owner occupied and lender owned home. These homes are usually in need of … (2 comments)
phoenix real estate: The Hidden Value of Water Meters In Phoenix Multi-family Properties
- 10/24/08 09:44 AM
The value of separate meters on a property cannot be underestimated. Most multifamily properties have one meter for water and maybe separate meters for electricity: in small multifamily properties is normal to have individual electric meters but it's uncommon to have the same with water: that's probably why its often missed. Below we'll compare two similar properties: one with separate water meters and one with a master water meter and the affects on income and the property value using a cap rate for evaluation. This is just a simple evaluation to make a point. The properties are very similar: the … (0 comments)
phoenix real estate: Homes and Neighborhoods Surrounding the Phoenix Mountains Preserve
- 10/22/08 11:38 AM
Live near the Phoenix central valley and near a natural mountain preserve with homes for every budget. The Phoenix Mountains Preserve offers mountain bikers, road bikers, hikers, walkers and admirers of the desert mountains a setting for expression and indulgent. It's difficult to get bored especially if you're willing to explore the preserve using a multitude of transportation modes: there is the low valley where from the midst the city is not visible to Piestewa Peak where the entire Phoenix valley exposes itself in panoramic glory and during sunrise or sunset it bursts with spectacular warm light.
phoenix real estate: Is the Phoenix Real Estate Market Overcompensating?
- 10/20/08 08:11 AM
As with many things in life we tend to over compensate and this may well be happening right now. The Cromford Report has reported that the "average (price per square foot) had rolled back 5 Years. On Saturday October 18, 2003 the average $/SF across all areas and types of homes was $108.89. On Saturday October 18, 2008 the average $/SF across all areas and types of homes is $109.99. A strange coincidence that these prices should be just 10c apart. On May 31, 2006 the same statistic reached $189.66, some 74% higher than today. In some areas prices are … (0 comments)
phoenix real estate: Phoenix Orpheum Lofts | A loft to love.
- 07/02/08 07:04 AM
Historic Loft in Central Phoenix This last weekend we did a condo and loft viewing binge, previewing for a client and just updating ourselves on the inventory. We'll have additional posts focusing on several interesting projects in Central Phoenix, but there is one unit in one of the true lofts projects in Phoenix that just caught our attention. It's a South East facing unit in the Orpheum Lofts in Downtown Phoenix. The Orpheum Lofts is a beautiful historic building with Art Deco architectural elements inside and outside, but you can read more about the details of Orpheum Lofts at RealEstateConfluence.com our blogsite which … (0 comments)
phoenix real estate: Greater Phoenix Lender Owned Small Apartment Complexes
- 06/28/08 11:58 AM
In Greater Phoenix there are about 30 lender owned properties or sale at this time in June 2008. The difference between an REO or lender owned property and a short sale is that the lender owned property is a foreclosed property. It has been through the process, past the short sale. The short sale is quite different because its still owned by the mortgagee who is trying to sell it for less then the outstanding mortgage. The list attached has NO short sales in it. It contains 24 lender owned properties or varying price and condition. Download a PDF list of … (0 comments)
phoenix real estate: What is Selling? Luxury, Move Up, Starter Phoenix Real Estate.
- 06/28/08 11:54 AM
Distribution of home sales in Greater Phoenix Over the last few months the distribution of sales between starter homes, move-up homes and luxury homes in the Phoenix real estate market has been changing. Does this trend signal a start of stabilization of the Phoenix real estate market?
Continue Reading an analysis of the data. … (0 comments)
phoenix real estate: What should a typical rental investment house in Phoenix be.
- 06/24/08 01:55 PM
What do typical rental homes look like in Phoenix. Buying a investment rental home is similar to buying an owner occupied home. A houses primary main reason for existence is for occupancy by the owners. Keep this in mind when looking for an investment home because it is more likely then not that it will be an owner occupant that buys the house once you exit this investment. So what do you look for in an investment house? Besides doing the regular financial, cash flow etc. look for the primary characteristics an owner occupant will. What your looking for is properties … (0 comments)
phoenix real estate: Phoenix Small Multifamily Property Search
- 06/23/08 08:32 AM
The Arizona Apartment Investor multifamily property search is active. Simply click on the tab on top titled "Multifamily Properties For Sale" and you’ll have a choice of several searches plus photos of the newest properties for sale. At the bottom is map showing where the newest properties for sale are located. If you need any help please call us at 602-628-4349. … (0 comments)
phoenix real estate: Doing Your Small Phoenix Multifamily Laundry
- 06/23/08 08:29 AM
Doing your laundry: a tale of increasing your cash in a small income property. I spoke with a client looking to sell his two fourplexes in the near future. Part of my due diligence, as an seller representative, in establishing the value of a property I discovered how the owner is loosing quite a bit of cash flow from his property and that loss decreases the property value. This has to do with additional income generated through secondary income of the rental process; laundry room income. In this case there was a laundry lease almost 7 years long, 6 years and … (0 comments)
phoenix real estate: DIY TV series - not for everybody
- 06/22/08 02:52 PM
A client was really excited to see the house close to KierlandCommons in North Scottsdale with a huge lot and a fabulous garden; it had an elegant interior as well, all looked spectacular on the pictures… I looked at the pricing archives of the property and found out that the price was already reduced $150k since 2007 and the home has been on the market for more than 300 days. In such an attractive area, this was suspicious; even in this market. A clarification to our question was revealed as soon as we opened the door… The first thing you could … (0 comments)
phoenix real estate: Phoenix Short Sales; Not Such A Good Idea
- 06/22/08 09:59 AM
This is not a new phenomena but its worth mentioning. The abundance of short sales out there is extra ordinary. They are everywhere and in every price bracket and property type from starter homes to multi-million dollar properties to income multifamily properties. There is a reason they sit around, at least most of them, for what feels like, years. To give you an example of the frustration we face with short sale properties, and this is even before we get to submitting an offer. There is a property on the market which looked interesting and matched one of my clients needs. … (2 comments)
phoenix real estate: Should you have representation when buying a new Phoenix home?
- 06/22/08 09:56 AM
You have decided to buy a new home. Will you benefit from hiring an REALTOR to represent your interests? Should you use a REALTOR to buy a new home? I believe you will benefit does, but it depends. You can only gain by having representation, someone on your side to look after your interest. First of all it cost you nothing to be represented. Just as with resale home buying, the compensation for your agent is paid by the seller or builder in this case. Some will say that you will get a discount when you're unrepresented. I can see why … (2 comments)
phoenix real estate: Greater Phoenix SFR resale data for May 2008
- 06/19/08 05:34 PM
The Greater Phoenix single family home resale market is on the upturn at least in terms of sales if not the median price. A large surge of buyer activity in recent months is coming to fruition with sales of home equaling that of last year.
(Data: ARMLS | Graphed by Artur Ciesielski) (Note: if you look at the previous graphs at PhoenixMarketTrends.com the numbers may be different because the source of data was different. In this article the data is from the Arizona Regional Multiple Listing Service, while the other graphs use ASU data.) A total of 5333 homes sold … (0 comments)
If these are not affordable then I just don't know what is. A newer 1,400sf home built after 2000 for less then $100,000 in a popular area of the valley with very good prospects. ;)
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