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Jonathan Dalton
ePro, SFR

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The $8,000 Home Buyer Tax Credit – Much Ado About Nothing

Given the discussion online and what I’ve heard from more than one client over the past couple of days, there seems to be considerable confusion about the future of the $8,000 home buyer tax credit. As of the moment, this tax credit is due to expire on November 30. (And I, for one, would be happy to see it disappear as I’ve discussed earlier.) According to CNN, the latest plan under discussion would extend the $8,000 credit for first-time buyers through next June 30 and also add a $6,500 credit for non-first time buyers. Supporters of the credits say the […]

Questions About Phoenix Bank Owned Homes

It’s been an interesting couple of days’ worth of questions on Trulia Voices. Look for just a moment at the Arizona buyers’ feed and you’ll see question after question about problems trying to purchase a bank owned home. I’m not going to try and answer these questions here – more often than not there’s more to the story than what is posted here or than what the buyer may be aware of. But they ought to serve as a cautionary tale for anyone thinking about purchasing a bank owned home on your own, or even through the listing agent as […]

Does A Buyer Need to Disclose Multiple Offers?

Saw this note buried inside the Realtor remarks on a listing yesterday: “If the buyer is making multiple offers, please disclose on a separate addendum.” The question is, does a buyer need to do so? It’s understandable why a seller would want to know whether a buyer is making offers on multiple properties, hoping that one will be accepted. It only makes sense for a seller to think twice about accepting an offer from someone who may not be fully committed to their particular home and who may change their mind if another offer comes through. And it’s for the […]

Phoenix Real Estate’s Bottom is Bumpy

Somewhere there’s a joke waiting to be told involving the Hollywood Grind blog or US Magazine and bumpy bottoms, but I don’t have the heart. Back around the first of April, it was clear that the Phoenix real estate market had taken a turn. Activity spiked, inventory fell. In fact, about the only thing that didn’t happen – and by not happening it defied the law of supply and demand – is sales prices did not improve along with the lessening supply and increased demand. Fast forward six months and it’s worth examining what “bottom” is being discussed when various […]

Moving Toward Business By Referral

It’s been a little bit of a mind-bending week here at All Phoenix Real Estate central. After many, many months of delay I finally sat down to listen to classes taught by Brian Buffini about migrating my real estate business to one that is, if not exclusively by referral, is driven by that dynamic. These lessons have led me to a rare week of reflection and organization.  My mindset always has been that any day that doesn’t involve an accepted contract is a failure, which clearly is mental. Unless you have an REO contract or a large-scale team of agents […]

RE/MAX Working to Streamline Short Sales

From a press release issued late yesterday from RE/MAX International: Real Estate Leaders Unite to Reduce Foreclosures New Short Sale Strategy Designed to Help Homeowners Avoid Foreclosure RE/MAX International of Denver, Colorado and HEART Financial Services of Northbrook, Illinois have agreed to work together to help homeowners avoid foreclosure. The real estate franchisor and loan modification leaders have created a unique pre-foreclosure or “Short Sale” strategy that will make it easier for families to sell their homes and avoid the trauma of a foreclosure. “It’s unfortunate that the Short Sale process has been so difficult to navigate in this marketplace,” […]

New to the Market: 9503 W McRae Way, Westbrook Village

Yesterday I watched with interest as the New England Patriots and Tennessee Titans played football while the sky was falling. I’ve been told the white stuff falling from the sky is called “snow” and happens in many parts of the country as part of a season known as “fall.” While this was taking place back east, here was the view in Peoria’s Westbrook Village at the same time yesterday while we basked in near-record temperatures: The closest thing to a concession to the calendar that you’ll find here is the inevitable scalping of the greens and other potions of the […]

Checking Back on Phoenix Real Estate Inventory

It’s been a while since I’ve posted inventory numbers for the Phoenix real estate market and in the passing weeks not a great deal has changed. There are 20,330 single family detached homes for sale in Maricopa County and there were 5,885 closed sales over the past 30 days … all of that means we have about 3.45 months of inventory, up less than half a month from the last update that I provided in September. Only 2,697 of those 5,885 sales were of bank owned homes, which is low. Another 1,185 are listed as short sales, which seems borderline […]

It’s Time to End the First Time Home Buyer Credit

An old synagogue management joke … There was a hundred-year-old synagogue on the East Coast where the rabbi stood on the right side of the bimah and the cantor the left. Every time they crossed from one side to the other they would take two steps, bow deeply to one another and continue to the other side. One day, a new member asked the rabbi and the cantor why they bowed to each other and they said, “It’s our tradition. It’s a sign of respect to each other.” An elder of the temple standing nearby interrupted. “That’s not the reason,” […]

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