Phoenix real estate
You Missed the Buyer’s Market in Phoenix
Saturday, July 18th, 2009 | Investment, Real Estate, Statistics | No Comments
Here is a three minute video showing what is happening in the volatile real estate market in the Phoenix area.
This is the fastest change that I have ever seen. Good up to date stastics to verify my assumption.
Click here to see a video of “You missed the market in Phoenix”
Old information is dangerous information
Sunday, July 5th, 2009 | Investment, Money, Real Estate | No Comments
“The article titled “5 Housing Markets That Have Further to Fall” is using the old standard of slow behind the times information is Standard & Poor’s Case-Shiller Index. If you think this information is showing you something current think again.
My next post will give you some really current information the title of the article is “You missed the market in Phoenix!”
What happened to the Buyer’s market in Phoenix
Sunday, June 14th, 2009 | Investment, Real Estate | No Comments
Just a few weeks ago any buyer who wanted to purchase real estate in the Phoenix valley would usually put in a discount price and ask for a list of concessions. Since the market was so distressed and so few buyers, sellers especially bank owned properties would jump on an offer. Now all of that has changed.
There has only been one of my buyers who was able to purchase a property with only one offer. All the others have found that easy pickings are not as easy and better get there first. I have one client who has put in 8 offers at or above list price. This buyer has great credit, cash for a hefty down payment and a short list of desired options. But my client is still looking for a home.
Every agent I speak with is reporting similar buying challenges.
I won’t bother to write why I think this has happened. I just want to warn prospective buyers. Get ready to work for a great deal. The sellers are watching their properties move.
Some Buy a New Home to Bail on the Old
Thursday, June 12th, 2008 | Money, Real Estate, The Economy | No Comments
Phil send me this aarticle with the note that this has got to stop and I agree whole heartedly. The price of homes changes with the market. This is very short sighted!
Fannie Plans Rules To Avoid Practice Described as Fraud
By NICK TIMIRAOS
June 11, 2008; Page A3
Next month, Michelle Augustine plans to walk away from her four-bedroom house in a Sacramento, Calif., subdivision and let the property fall into foreclosure. But before doing so, she hopes to lock in the purchase of another home nearby.
Home from Work Program
Monday, June 2nd, 2008 | Money, Real Estate | No Comments
I attended a real estate class a few weeks ago. I was so impressed with this new program that I am flying to Texas later this month to become an instructor. Let me preface this by saying that the majority of people I speak with have significant misinformation on current down payment requirements, available programs, how to avoid foreclosure, and even the important benefits of home ownership.
The class was an introduction to an exciting program called “Home from Work.” HUD (U.S. Department of Housing and Urban Development) originally developed the program and the NAR (National Association of Realtors) has partnered with HUD to get the information to employers. It is an outreach program to bring current accurate information into the work place. Three huge issues are addressed.
* First time homebuyers – programs, advantages, the process, credit, qualifying, etc.
* Foreclosure and financial services designed to help with hardship situations.
* Employer involvement to the extent an employer will see benefit and assist their employees.
The program can be brought directly to the employees in the form of a workshop with one-on-one counseling to follow up.
It looks to be a great program that brings together non-profit organizations, Realtors®, employers and employees. A real win – win – win – win situation.
Banks miss an easy housing fix
Monday, June 2nd, 2008 | Money, Real Estate | No Comments
Lenders say they want to help troubled homeowners, but they are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.
By Les Christie, CNNMoney.com staff writer
Last Updated: May 28, 2008: 11:16 AM EDT
Lenders foot the bill for abandoned homes
Housing rescue on the rise; so are foreclosures
Banks miss an easy housing fix
Home sales rise – still near 17-year low
NEW YORK (CNNMoney.com) — Banks say they want to help troubled homeowners, but they are delaying deals that could save everyone – including the lenders themselves – a lot of time and money.
http://money.cnn.com/2008/05/28/real_estate/short_sales_long_waits/index.htm?postversion=2008052811
Here is a great place for great financial information
Friday, May 16th, 2008 | Investment, Money, Real Estate, Safety, Statistics, The Economy | No Comments
If you have read some of my earlier posts you probably asked yourself where do I get some of the data I use. As an example, the statistics in the article “Why haven’t your mutual funds made you rich.” I found on the net. I gave Crestmont their credit and even linked their web site on this post.
I was back there again today and was amazed at some of the great stuff these folks have compiled. Using their information and by adding in costs and inflation, I came up with the realization that the money I put in mutual funds in 1997 has generated NO wealth for me in more than ten years!
I admit that some of the information at their site is a little deep. But they have some great graphs that help a lot. One place I looked today was the volatility of the market and another great chart was “Interest rates and inflation.” Now that was an eye opener!
Most of us think we are so busy that we don’t have time to do any research. We don’t pay any real attention to our IRA or 401k. We think that the professionals are doing a better job than we can. We just glance at the numbers when we get in our quarterly report. Most of us don’t know where to start even if we were interested. That is one of the reasons I have this blog. If I find something I want to share it.
While you are watching “Dancing with the stars,” go to Crestmont – http://www.crestmontresearch.com/ and have a look around during the commercials. As an older person I want to make sure I put my money where it is safe and work HARD for ME!
Cheryl moved her retirement funds into cash last November. She is just getting back into mutual funds and missed a 25% drop in the value of her nest egg. The real estate market has some exciting places where I can meet and exceed my financial needs. I feel this is the most exciting time to invest in the last 30 years. “Buy low sell high!”
Home-price data has its flaws
Thursday, May 8th, 2008 | Money, Real Estate, Statistics, The Economy | No Comments
Phil found another gem of an article on the news you hear and see every day!
Top officials with the National Association of Realtors and Standard & Poor’s, which issues the S&P/Case-Shiller Home Price Index, agreed this week their monthly reports are giving imprecise readings of price changes at all levels — national, state and regional — due to rare market conditions that are skewing survey results.
Why the worst may be over
Wednesday, April 30th, 2008 | Money, Real Estate, The Economy | No Comments
The credit crunch may be behind us and earnings have been better than expected. That could lead to happier times if the Fed starts focusing on inflation.
Oil hit another record high but has since pulled back. The dollar has finally started to show some signs of life. And for the most part, corporate earnings were – as Larry David would say – pretty pretty good.
Sunny side of the street
Tuesday, April 22nd, 2008 | Investment, Money, Real Estate, The Economy | 1 Comment
Seventy-seven percent of the wealthiest people surveyed think real estate presents a “real opportunity” right now. In the survey, “wealthy” meant having discretionary household income of more than $500,000 a year.
And these high-income earners are putting their money where their mouths are:
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