Sunday, April 15th, 2012 at 4:53pm. 1302 Views, 0 Comments.
The news is all over now: prices for real estate are up and often significantly up over last year. The lack of supply and a healthy demand has forced prices to increase: simple economics. Demand is high from regular home owners to investors, all trying to take advantage of still low prices and even lower interest rates, though - 40% of sales are cash.
There's a lot of talk about missing the boat on this recovery. Not so fast. Even though prices have increased, they are still at long time lows. With the price of building materials on the rise and really with no reason for a slow down in demand for the materials due to global demand, it is unlikely you will be able to build homes at the price you can buy them now. Replacement cost is a huge factor and…
Tuesday, April 10th, 2012 at 12:26pm. 1508 Views, 2 Comments.
I've been a real estate investor for a while, over a decade now, that's how I got into the real estate industry then into being Realtor full time. Going in I knew it could be a rocky industry and it has been. I also knew there were many ways to generate income as an investor: both passive and active. I'll skip the active here because what that really is is a job in itself, not investing and I want to concentrate on investing and one particular example of how well it can work, especially now.
The example below is based on an actual property that I personally purchased in the last 6 months. I'm using it because I know all the numbers, inside and out, but I won't disclose the property address and I don't keep real estate in my name either.
Sunday, April 8th, 2012 at 12:33pm. 1103 Views, 0 Comments.
Surprise like many suburbs were hit hard, but these are also the areas in the midst of a hot real estate grab. Inventory is at a long time low of 800 homes and months of inventory is down to 2.7 months, which is very low even compared to a low 3.9 months last year.
It means increasing prices. The average price is up to $153,271 from $143,926 last year and the more meaningful Median price up to $135,000 which is a significant rise in one year from $123,550 last year.
(Graph - Cromford Report)
Monday, April 2nd, 2012 at 9:59am. 1504 Views, 2 Comments.
It's nice to have a balanced market, but in real estate it's rare to have one; though the imbalance is not, usually, skewed too much: that's an okay situation, but are we getting too much of a good thing now? Too fast of an improvement, is it really an improvement when it's skewed so much? The market is not balanced.
Personally I don't like it, this imbalance it makes everyone's job more difficult and there is alot of aggrevation, animosity and bad feelings out there. Even something simple as working in your client's best interest can earn you new nick names or have someone question your integrity. There can be only one buyer for any particular home and when many people want it - and there are few other choices - the results are not always good.…
Sunday, April 1st, 2012 at 5:31pm. 1010 Views, 0 Comments.
Murals On McDowell
During April, which is Bike Month, and before it gets too warm I'm going to get a lot of riding in, much of which will include taking photos.
Saturday, March 31st, 2012 at 12:01am. 1624 Views, 0 Comments.
A few weeks ago I wrote about the progress of a remodel we're doing on Central Phoenix mid-century modern. Check out the before picture.
That remodel has been completed except for a few items. Below are three photos of the kitchen and living space. This is a one bedroom apartment so there is a limit of how many relevent photos I can take, but these will give you a good idea of what is there.
The change is rather dramatic. I like the skylight: I'm big on natural light and the expense and effort were worth it to me, despite what my handy man said.
The kitchen cabinets and fixtures are from Ikea. The stove is one thing we splurged on. A 5 burner gas stove which is awesome and visually striking.
The floor is a laminate from Ikea which I've…
Friday, March 30th, 2012 at 3:01pm. 913 Views, 0 Comments.
April is looking to be a great month, more so since it's Bike Month - a month of great weather and many events to engage cyclists of all ages, but from the looks of things, all the people riding the streets, it's always bike month. Check out what's happening below by clicking on the title of the event.
Upcoming EventsMarch 31st
Safe Kids East Valley Bike Rodeo
Cardon Children’s Medical Center
1400 S. Dobson Rd., Mesa.
9:00 a.m. to Noon
Bring your kids along with bike or scooter to practice safety…
Chandler Century Ride And Expo
Chandler Tumbleweed Park
2100 S. Hamilton St., Chandler
6:30 a.m. - 3:00 p.m.
39 or 65 mile rides, 6:30 a.m. (fee)
7.4 mile ride…
Thursday, March 29th, 2012 at 7:54pm. 2106 Views, 0 Comments.
Being an agent who helps both buyers and sellers is rather enlightening and quite beneficial. Add to it being also a property owner, buyer and seller and you can see that we get to view it from all sides. I believe this is a benefit to us as agents and a benefit to our clients. We're all the above in any market that has been around for over the last decade.
In this market where inventory is at a long time low it would seem that sellers have the upper hand, and for the most part they do, but imagine having to deal with choosing from several equally good offers.
Imagine each party calling you to explain their situation and motivation vying to be the one to get the home? To be that one on this property after you, as the buyer, have already put in…
Tuesday, March 27th, 2012 at 8:04am. 909 Views, 0 Comments.
On Monday of all days I got a call from a news reporter wanting to do an live on camera interview with me about the pending numbers, why they are down and what it means. Of course Monday is the busiest day of the week with all the pent up weekend listings and contracts needing escrows opened or replies: essentially 3 days of work need to be squeezed into one, so an interview was out of the questions, which was too bad for me.
I did tell him my opinion about the matter which I'd like to share with you since these numbers are confusing, though very symbolic.
First look at the active properties on the market. There are fewer properties: inventory is low. In addition look at new listings this year compared to previous years. Follow that with the…
Sunday, March 25th, 2012 at 8:59am. 1411 Views, 0 Comments.
Urban Phoenix or really anything from uptown to downtown Phoenix is an area rich in diversity and is quickly getting gentrified with all the stages in-between. One of thoes gentrifying signals is the creative community. Roosevelt Row somewhere along Roosevelt between Central Avenue and 7th Street is commonly know for First Fridays and Third Fridays. This is one of those creative communities.
In recent years these wall murals - seen below - have become a staple of this little village. What they remind me of is advertising murals from Poland which used to cover large multistory buildings, sometimes up to 15 stories or more high, all painted, not printed. These advertised a play, and new theater show or a popular state brand.
The photos below are a…