Archives for June 2009

Phoenix Real Estate Inventory Update – June 30

As Keith Jackson might put it, the Phoenix real estate market has a little hitch in its giddyup this week. Inventory continues to fall but sales also have dropped off for the month of June after extremely strong showings in April and May. We have had 6,547 closed sales the past 30 days (not quite […]

Floating a Trial Balloon

These days, with homes in the Phoenix real estate market often selling within a handful of days and no time to preview or show before writing an offer, it seems I’m spending more and more time simply writing contracts. Should one get accepted then I move into the regular mode – ordering and attending inspections, […]

KISS – It Really is the Price

There was an article over on Active Rain today that had me shaking my head. The basic implication was pricing a property competitively to sell is important but outstanding marketing could help bring in some extra dollars. Realizing that all real estate local, that’s simply not true in the Phoenix real estate market these days. […]

What You Need to Know About Cheap Phoenix Real Estate

For the past several months, I’ve been fielding about an inquiry every two days about homes appearing on the Phoenix real estate market for under $50,000. These homes, though, aren’t always the deal they appear to be. Here are a few of the reasons why: 1) Financing. As you drop below $50,000 you’re approaching the […]

Banks Suck at Selling Phoenix Real Estate

A bank owned home – this one a former model and still model-perfect – goes on the market in north Surprise at a list price of $182,000. More than a dozen offers flood in. Comps indicate that the home might be worth $200,000 on a good day but that doesn’t stop the buyers from climbing […]

How Phoenix’s $15,000 Incentive to Buy a Bank Owned Home Will Crush Your Home’s Value

One of the requirements of obtaining a $15,000 loan from the city of Phoenix to purchase a bank owned home is that the purchase price needs to be no more than 85 percent of the home’s appraised value. Setting aside the reality that such a scenario is virtually impossible in today’s Phoenix real estate market, […]

Friday Afternoon Theme Music – June 26

Was there ever any question what today’s music would be? Have a good Friday and we’ll catch you tomorrow. [youtube: 400 300]

Fixing Phoenix’s $15,000 Loan Program for Foreclosed Homes

KNXV, the local ABC affiliate, ran a story last night about Phoenix’s floundering $15,000 loan program for buyers purchasing foreclosed homes, first announced in March and written about extensively here. The sense you get is the problem is the program isn’t well known. “I didn’t even know about it,” said Phoenix resident James DiMartino. “Never […]

Phoenix Real Estate: A Buyers’ Market No More

Last night I was picking up my daughter at a neighbors house and they asked how business was going. “After all it’s a buyers’ market,” they said. Needless to say they were surprised to learn that’s not the case anymore. And this week’s absorption rate numbers confirm that fact. Low-priced bank owned homes brought buyers […]

Another Reason I Love the Arizona Regional MLS

First, the Arizona Regional MLS board decided to ignore the National Association of Realtors’ incomprehensible ruling that Google was a scraper site and prohibiting agent and brokerage sites from allowing Google to index listings (which I happen to do on several of my sites.) And now ARMLS has reversed an earlier decision and eliminated the […]