There are currently 32 blog entries related to this category.
Friday, April 26th, 2013 at 2:03pm. 4575 Views, 0 Comments.
I started this post by writing the title. I wrote it on May 21st, 2011. The title as you see, "A New Tide Of Buyers Is Coming In 2013" stayed in draft mode for nearly 2 years. I was just going through the plethora of unfinished posts I have, some 100+ and this one jumped out at me.
My intention was to write about the buyers coming into the market whom at some point had a foreclosure, bankruptcy or foreclosure. Although the record of these financial mishaps stay on the credit report for quite a while, up to 7 years in some cases, many can buy right after 3 years pass.
Some who had a short sale could purchase right away, under certain conditions, but most person had to wait 3 years and for many that 3 year period has now passed. 2009 and…
Sunday, February 10th, 2013 at 10:16am. 822 Views, 0 Comments.
The segment where it is the easiest to get into for most buyers and investors is also the most difficult to buy into. The price segment from $1.00 to $100,000 is almost a war-field where properties are often least cared for, for which there is a greater pool of investors - it's more likely there are investors with $70,000 cash lying around than $170,000 -, where many new buyers want buy first and where there were so many deals to be had when the foreclosure crisis hit. This segment was the first to see declines, but it was also the first to show signs of recovery.
There are now only about 1,500 Phoenix homes under $100,000, while that number was 2,168 last year and 11,214 two years ago.
Inventory stands at 2.1 months which is well in…
Friday, October 19th, 2012 at 11:29am. 897 Views, 0 Comments.
The answer depends on quite a few things, but primarily on the market trends and the asking price compared to the demand for this or this type of property.
The asking price for a property is an opinion of value. This opinion can come from the seller, the seller's agent and or an appraiser: or any combination of these. These persons choose the price based on data; correct or wrong data, comparable properties and often emotion and ego.
Pricing is highly subjective and is often wrong: most of the time it is not too far off. I should say that the simply act of pricing is suggestive. That means that buyers often assign value to a property, or at lease use it as a base to asigne some type of value based on price. This is true for any object or…
Tuesday, April 10th, 2012 at 12:26pm. 1513 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.
Thursday, March 29th, 2012 at 7:54pm. 2111 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…
Saturday, March 24th, 2012 at 8:01am. 883 Views, 0 Comments.
For the last few months AWC homes have been included in the data feed of all listings. There are many reasons for this, one of which is that for many putting in back-up offers has been a successful method to getting a home.
Back up offers on short sales are more often successful then normal because first position buyers commonly get tired of waiting for approval or find another home during the wait. Once that happens whomever is in the back up position goes to the head of the que. It's not ideal for those who have time constrains, but many don't, especially investors.
This is now changing. Many of our partner agents have expressed that the people they speak with prefer not to see AWC homes at all, since seeing so many has left them frustrated and…
Thursday, March 22nd, 2012 at 12:20pm. 1307 Views, 0 Comments.
Just released into the market in the Roosevelt historic district in downtown Phoenix.
This quintessential craftsman bungalow is a classic historic Roosevelt property that retains the historic character and charm yet it’s well suited for modern urban living with all the comfort and conveniences.
This is dream home. As an agent I feel proud to represent such a well preserved and well modernized home. Unlike so many homes that have been updated this one leaves very little to be desired. Simply lovely.
Please check out the property specific page for all the details and huge photos.
Check out the dedicated page for this listing.
Saturday, March 17th, 2012 at 5:55pm. 804 Views, 0 Comments.
Each of the home search pages and neighborhood pages here at Phoenix Market Trends have three available views: thumbnails, list and map.
My favorite for most pages is the list since you get a little more information about each homes and larger initial photos.
The thumbnails view simply shows a larger photos and the basics.
The map view displays the homes as show on the right, both a photo and basic information plus where they are located on a map.
In addition you can change the map to a map view, terrain view or satellite view.
Most pages, were there are is a good number of homes, will display, in blue in this example, a segregation by price.
So if you're looking at, for instance, Vistancia homes for sale, you can quickly only…
Wednesday, February 29th, 2012 at 7:29pm. 848 Views, 0 Comments.
I saw this question somewhere on the net, but I can't remember where. It surprised me a little that someone would question the legitimacy of it.
Q. I have been in the market looking at buying property for a few. Lately, I noticed that a property will go on the MLS one day and next day it is in contingency. Is this legitimate?
A. To answer I'll give you and example of the last weekend in which I put in 5 offers. House 1 had 5 offers on the first day. House 2 had 3 offers in the first half of the day it hit the market.
House 3 had an offer accepted the same day it hit the market. House 4 had 30 offers on the second day it was on the market. When I called the listing agent, she said, "I have about 30 offers in my inbox so far and several agents…
Sunday, February 26th, 2012 at 4:50pm. 883 Views, 0 Comments.
That's how it is. Either everyone is buying 10 homes each with high leverage in 2004-2007 or no one is buying homes like in 2008-2009 or everyone with cash on hand or any ability to get a loan is buying a house in 2011 and especially in 2012, after the market hit bottom. It's been a long time since we had any balance between buyers and sellers.
So when you ask an agent, if they have any offers and they reply that they have 30 so far, or if a home is on the market 1-2 days and already the seller has decided that no more people can come in because they have had so many and there are already offers coming, you know you have a balance issue.
Now the market is a seller's market, even if those sellers are distressed.
Interestingly I still get…