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Greetings from the Local Naysayer

There’s an old stock investing theory, the gist of which goes that the smart money takes a look at popular opinion and does the opposite. Because at the end of the day, the mentality of the masses usually is wrong. Individually, we’re intelligent. Collectively, we’re kinda stupid. Have doubts? Check out the people wrestling with each other for free T-shirts at a hockey or basketball game. But I digress … Loaded with such a contrarian view, let’s take a look at four common conceptions about the Phoenix real estate market as we move into the second month of 2010: 1) […]

Phoenix Real Estate Inventory Update – January 30

After a several month hiatus, it’s the return of the market stats. When we stopped the weekly statistics posts back in September, there were 19,801 single-family detached homes for sale in Maricopa County. As of today, there are 23,172 single-family homes for sale in the Phoenix real estate market. Back in September there were  2,800 bank owned homes for sale. As of today, there are 3,588 bank owned homes for sale. The big difference? Over a 30-day span ending September 17, there were more than 6,000 closed sales in the Phoenix area. Over a 30-day span ending today, there were […]

The Phoenix Suns and Phoenix Real Estate

If you’ve read this blog any length of time you’re probably aware that in addition to my real estate career I’m a free-lance writer for the Associated Press. This summer will mark 24 years since I first walked into the offices of the Mesa Tribune; this fall will be the 22nd anniversary of my first byline – a thrilling tale of a football game between Safford and Gilbert at old Gilbert High School. Real estate is my wife; sportswriting remains my mistress, the place I spend my evenings when I’m not at home. (A metaphor I’m sure my mother and […]

Bonus Post in Honor of the Canadian dollar

The pundits say the Canadian dollar is going to rise to par with the American dollar. Until I see the loony do better than 1.027 I’m not going to believe it. Every time it has approached the $1.02 – $1.03 mark it has pulled back away for one reason or another, though probably not due to a chameleon lying there in the sun. I still may be proven wrong but the CAD seems much more inclined to Run Runaway. (And hey, it’s a cool video.) [youtube: 400 300]

Find Me a Deal With Sprinkles On Top

Here, in short, is the dilemma. Prospective buyer calls and says if I can find a screaming deal, he’ll jump on a plane in the near future to take a look and possibly purchase. Sounds simple enough, aside from a few of the details … 1) If it’s really a tremendous deal, the kind that sticks out like a sore thumb in the MLS, odds are we’re not going to be the only ones who see it. Screaming deals, well, scream out for attention. 2) If it’s really a screaming deal, there may not be time to jump on that […]

The Yin And Yang of Phoenix Golf Course Real Estate

There’s a basic truism about life and real estate along a Phoenix area golf course – not everyone’s going to hit the ball straight. It’s virtually unavoidable, no matter how many trees and shrubs you plant or screens you erect to try and slow a screaming hook. So if you want this: … you can expect this … These were taken this morning along the first fairway at the Corte Bella Country Club. Until this morning, I never had seen a golf ball wedged in the attic vents like this. How it happened, given the location of the tee boxes […]

Phoenix After a Couple of Inches of Rain

Once upon a time, a family moved to the Phoenix area from California. Driving down I-10, they came across a sign for the Salt River; below was nothing but dirt and rocks. “Some river,” they said. Two years later, that normally dry river had swollen well beyond its banks and taken out all but three bridges in town. The year after that, a second 100-year flood hit, the river swelled and all but two bridges connecting Phoenix to the east and west Valleys were swept away. Fast forward three decades … No bridges are in danger after this week’s rains […]

Financing Your Phoenix Real Estate Purchase? Possibly Expensive Changes are Coming

We’ve talked about this a little bit before as 2009 came to an end, but all signs are pointing to increasing interest rates as 2010 continues. Government participation in purchasing loans is expecting to wane and as that happens rates are expected to climb – we’re not going to see the beautiful 18’s of the late 70s and probably not even the 8’s of the late ’90s, but the days of the 4’s and very low 5’s are likely going to fade into the rear view mirror. Which means those buyers still sitting on the fence are faced with another […]

Rounding Third and Heading for Home

As the story goes, major league pitcher Pascual Perez once hit a triple and upon arriving at third base looked at the third base coach for assistance. “What do I do now,” he asked earnestly. “What do you mean,” the coach said. “It’s just I’ve never been here before.” I’m feeling a little bit like Pascual Perez this morning as, at least as far as Bank of America and its short sale department is concerned, I’ve never been here before. From what I’ve been told, we’ve received preliminary approval on the short sale offer submitted at the end of September. […]

The Morning Was Moist … But Tanning Season’s Coming

We woke up in Phoenix today to the sounds of raindrops falling against our roofs, the first of what is predicted to be five straight days of rain – the first time that’s happened in the month of January since 2003. Once every seven years … you have to admit, that’s not too shabby. As the kids wandered in little circles, free from school because of the Martin Luther King Jr. holiday and unable to spend much time outside lest the water cause their somewhat washed bodies to melt, my own thoughts turned toward March and the beginning of spring […]