Getting around the East Valley will get easier as of July 21, 2008 as the final section of the 202 will be opened for traffic.  As a Realtor, this is something I’ve been anxiously anticipating for years. The Loop 202 has become my favorite highway, but don’t tell anyone or it will soon become clogged just like the others.  As of now, commuting is still pretty much a breeze except for some minor backups during rush hour.

 

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This is one of the most common questions I get from buyers.  Most of my buyers are coming from out of state or another country and they’ve heard stories of the unbelievable deals you can get on homes for sale in the Phoenix area.  

Are there deals out there?  Of course there are but many of those “deals” are not the type of home my buyers have been looking for.  Most want a home in close to model condition with as many upgrades as possible.  They’re not looking for a home with missing ceiling fans and wires hanging out of the ceiling, stained carpet, vinyl flooring and a dirt backyard.   So what ARE homes selling for?  Well…they’re not selling for full price, that’s a given.  Most offers on my listings are coming in at 10% under list price but most of… Read Full Post

The media is quick to jump on the gloom and doom bandwagon regarding the current real estate market around the country.  Why aren’t they reporting on what’s been happening in the Phoenix Metro area over the last few weeks?

The market reports are reflecting a recent steady improvement to our market (see chart below). 

Yes, Buyers are buying and sellers are smiling.  Let’s shout it from the rooftops…or at least from our nightly news?

 

This weekly report will indicate an improvement (indicated in Green) when our “Active Listings” Decrease & our “Pending” and “Sold” Listings Increase.   While the Phoenix Real…

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Based on weekly numbers, it looks like we might be seeing a slight positive trend to our real estate market.  Our weekly sales have almost doubled and our new listings are stabilizing. Since our Buyer's Market is inventory-driven (more homes for sale than buyers to buy them), the key to restoring a more normalized market is inventory reduction.  The Phoenix valley typically carries between around 30,000 active listings.  With a current inventory of over 56,000 homes active on the Arizona Regional MLS, we've got a ways to go, but the increased buyer activity is a positive sign.

Our current market started with a silence that was almost deafening due to declining buyer activity accompanied by the roar of increasing listing activity.  I'm hearing the whispers…

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The real estate market in the Phoenix metro area has been on a crazy ride for about the last 5 years.  We saw a sharp increase in our home values in 2003/2005. All it took was a whisper to a neighbor that you were selling your home, and your Realtor showed up with 35 offers for you to choose from.  All of them thousands of dollars over your home’s value. 

Then, like a curve on the Space Mountain roller coaster, with little warning we began what still feels like a plummet with no bottom as our values dropped. 

Many homeowners today are afraid of listing their homes because they’ve heard and read the horror stories (can you turn on the news or read a paper without hearing how horrible our housing market is?) and all they can see is how much money they…

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My list of Canadian buyers coming to Chandler to buy a home continues to grow as our inventory of homes in Chandler continues to grow as well. 

Why Chandler you might ask?  Chandler is close enough to the airport but far enough to be out of the congestion of Phoenix.  Chandler is new enough and the Canadians I am working with definitely want newer.  Homes and townhomes preferably built after 2000.  An abundance of golf courses and lakes also make the area inviting.  Close to amenities including brand new shopping centers, movie theaters and an abundance of new restaurants, from fast food to gourmet.  Chandler is fitting the bill for our Canadian buyers.   Canadians are doing their homework before they arrive.  I'm researching and narrowing their choices… Read Full Post

A recent newspaper headline in Phoenix quoted several economists including Elliot D. Pollack & Co “The Source for Information on the Arizona Economy and Real Estate Market” that “The worst is yet to come for the Greater Phoenix housing market“.  The article forecast another 5 years before our market returns to any semblance of normal.

A year earlier in December 2006, the Pollack Report stated “The panelists at this point believes that the worst will be over after 2007.”  Oops.  Oh well, predictions were made to be adjusted. 

Another article in Realtor Magazine this month was more favorable with the following “Over the next few months, existing-home sales are expected to hold fairly steady as indicated by pending sales activity, and then rise later in the…

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I'm contacted on almost a daily basis by Canadians who are looking for vacation homes in the Phoenix metro area.  The Canadian housing market has experienced double digit appreciation recently giving them access to equity lines of credit one their homes to invest. Combined with our high inventory of great homes at affordable prices and great airfare rates from Canada to Phoenix, the word is spreading throughout Canada that Arizona is the place to buy. 

Developers in the Phoenix metro area are hosting seminars all over Canada promoting their communities.  Canadians are wisely contacting Realtors in the valley to get the skinny on these hyped communities which aren't always the best values.

Sellers here welcome the opportunity for ANYONE to look at their…

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