Trends In Phoenix, AZ

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Coming Soon New Listing In Midtown Phoenix Woodlea Historic District

Sunday, June 17th, 2012 at 6:03pm. 737 Views, 0 Comments.

Great value in a solid home that does need some updating. It has many newer mechanicals like A/C a newer roof etc, but the kitchen and flooring could use updating. Priced accordingly. Walking distance to neighborhood restaurants, coffee shops, antique stores in Melrose shopping area. Just a short drive to Indian Steele park that offers a great place for relaxation in the middle of the city as well as an encounter with Phoenix history.

  • 1310 E. Glenrosa Ave. Phoenix, AZ 85013
  • 1311 Square Feet
  • 3 bedroom and 1 bath
  • 8,700 square feet
  • $120.000
  • More Photos Coming Soon.

Call Artur at 602-492-8004 with questions and to view this home.

Call Artur at 602-492-8004 with questions and to view this home.

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Urban Graphx - A Sign, A Sculpture

Tuesday, June 5th, 2012 at 5:57am. 1168 Views, 0 Comments.

From afar this sign is very graphic. From up close, on both sides, this sign is a sculpture. It is an art piece in itself, a beautiful though out sing which is rare these days. 

Where: 201 E. Camelback Rd. in Uptown Phoenix

PMT Directory Listing with map and link to website: Red Modern Furniture

 

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Comments On The May 2012 Phoenix Real Estate Market

Saturday, June 2nd, 2012 at 4:50pm. 4966 Views, 0 Comments.

Apparently the economy is in a recovery, but jobs continue to have a lackluster performance and lately job growth can't keep up population growth 

I'm continually dumb founded by how so many people earn so little. A look at the classification of poverty shows that if a family of 4 makes a little over $22,350 it's no longer in poverty. I can't imagine a single person being able to make it on $22,350 let alone 25-30K what of a family of 4, and that's even in Arizona which is a relatively inexpensive state to live in.  

The United States has the greatest percentage of child poverty of all the industrialized nations. How can that be? How can that be? Don't people know? This is the richest country in the world, yet other nations outpace the  U.S.

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Renters Are Buying Homes Again

Thursday, May 31st, 2012 at 9:10am. 1096 Views, 0 Comments.

It's now been a good few years since the first wave of home owners either had a foreclosure or short sale. For many it takes 3 years before they can buy a home and for a good number the 3 years have passed and they are out buying. 

Several of our tenants from both apartments and houses have gone out and purchased homes. The same goes for homes our client investors have purchased over the last few years. 

I recall a couple who had to do a short sale 3 years ago. They made the best tenants I can imagine over that time, but from the time they moved in they made their intentions clear that once they are able they will purchase a home again when their credit allow.

Now it's like a deluge of renters going into the market as home buyers. This is good,

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Urban Bike - Memorial Day Weekend

Tuesday, May 29th, 2012 at 6:38pm. 706 Views, 2 Comments.

House left at 6am with one obligation at 10am to show an apartment in Arcadia. The object - ride down to downtown Phoenix, have food somewhere and check out the warehouse district south of downtown. 

The day - at that time in the morning - was gorgeous

The warehouse district is now mostly empty, but it's clean and full of opportunity. I can see how popular this area can be, but there are others who are actually doing something about it. If the money is there and the momentum, this area should be hot in the future: 5,10-20 years from now.

Breakfast a Chloe's Corner. The good was good for the price - there are better options, just not on Sunday. One of several things I don't understand about this location and CityScape in general is that

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A Mid Century Modern Investment Property Bathroom Remodel Completed

Thursday, May 24th, 2012 at 8:44pm. 1220 Views, 0 Comments.

Remodeling a bathroom, especially one that is from the 1950's, is no easy task. It looks simply on the surface, but once you get into the details then it gets tough, especially if the configuration is being changed as well. 

After remodeling a one bedroom apartment in one of our mid-century modern investment properties I could not stop, or I could not keep looking at that bathroom. Who would use it? - especially considering the look of the kitchen and living area which were all new. Thus began an adventure in remodeling a bathroom. 

Here is more of a during photo which shows the tub already out. The goal was to enlarge the bathroom, add double sinks, remove the bath-tub and replace it with a shower and change the walls and flooring. Of course

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Monthly Median Sales Update

Wednesday, May 16th, 2012 at 9:27pm. 970 Views, 0 Comments.

If you're in the market at all lately, you've probably noticed a lack of homes to buy and higher prices. Your notice would be correct. Inventory is painfully low.

As of now the median price, measured monthly is $140,000 compared to $119,000 in January and $114,000 last year: a jump from $114,000 to $140,000 is huge and much of it as a result of low inventory.

But, there is a but. Much of the low priced inventory has been depleated. As a result of fewer low priced sales the median price will be up, so part of that jump is due to more expensie, in general, homes selling, but only a portion of that rise - the rest is demand and low inventory and of course changing sentiment about the current financial situation and the future. 

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The April Phoenix Real Estate Market In The Extreme

Wednesday, May 2nd, 2012 at 11:24am. 2390 Views, 0 Comments.

Sales are down from both 2011 and 2010. Only 8,480 properties sold compared to 9,452 for the same period last year and 9,129 two years ago. The same thing for pending properties: 11,996 currently while last year it was 13,326 and 14,406 two years ago. 

If you only looked at those numbers the trend would look depressing and dismal, but the reality is so much different, it's almost as extreme and surreal as it was in 2005 and 2008.

All those numbers are down from the previous periods only and only because there is a lack of inventory, or demand has driven down inventory to levels that have forced a significant change in the market trend. Lack of inventory, lots of cash out there, a volatile stock market, low interest payments in the banks and low

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Investors Invade Phoenix

Monday, April 30th, 2012 at 11:03am. 1503 Views, 0 Comments.

Investors are a huge segment of the current buying group gobbling up inventory as if their hunger were insatiable. Every few months I post a graph showing what percentage of the market is investor buyers.  Last time this information was posted it was high: near 22%. Since then that number has increased to as high as 29% as it's at 265 at last count, earlier this month. 

Also over 40% of sales are cash and i'm sure investors make up a greater than 50% of cash sales. Most of our investor clients are cash or combination of cash and loans when they are purchasing multiple homes.

The buyers who are not investors have some resentment toward investors when they learn about these numbers, often comparing this trend to the trend that brought down the

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Urban Bike: Penny Farthing Race

Monday, April 16th, 2012 at 1:04pm. 1938 Views, 0 Comments.

Bike Month continues.

I've always had a soft spot for the Penny Farthing bike, but never though to it as a race bike, until I saw this rather exciting video of such a race. The race starts at about 1:15.

 

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