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Jonathan Dalton
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Thanks, Governor Brewer, for Giving Me a Blog Post

Right off the bat: if you’re expecting any sort of commentary here regarding the recent passed by the Arizona Legislature and signed into law by Governor Jan Brewer – you know, the whole “show me your papers” thing – it just ain’t gonna happen. No interest here in jumping upon that particular hand grenade. What I will say is for the first time in my six years in the industry, an action taken by the Legislature has had an adverse impact on my business. Well, at least from one potential buyer. I’m sorry to say that given the current situation in […]

New to the Market – 8099 W Tonto

Just put this one on the market this morning. Two of the more interesting aspects about this home are it’s in an area with a much-sought after elementary school – Frontier Elementary in the Peoria Unified School District – and that the supply for homes with a swimming pool in Fletcher Heights is almost non-existent. Well, unless you want to waste swimming season waiting for a bank to give you an answer on a short sale. Real owners, real value – a nice change of pace and well worth taking the plunge. [idx-listing mlsnumber=”4382261″ showall=”true”]

Outsourcing the Phoenix Real Estate Sale – HOAs and Condo Certs

Follow along if you don’t mind … Most homeowner associations in the Phoenix real estate market charge some sort of transfer fee ranging from a hundred dollars or so to a thousand dollars or more. While living in an HOA, sellers are paying the homeowners association not only for the amenities of the community but also the administration of the HOA. Sellers in Arizona are required to provide a buyers a slew of HOA documents including the rules and regulations, CC&Rs, financial statements and the like. Since virtually no one ever keeps any of these things when they purchase and […]

VA Zero Down Real Estate Financing Doesn’t Mean There’s Nothing Out of Pocket at the Start

Ran into a somewhat interesting situation the other day with a buyer using a VA loan. For those who don’t know, the VA provides 100% financing for veterans and allows vets to wrap their sole cost – the VA funding fee – into the loan itself (if the contract is so written by the real estate agent – it’s not an automatic, nor do all buyers want that funding fee financed.) What the VA financing doesn’t alter is the need to provide an earnest deposit to the title company when escrow is opened. While it’s possible (but not common) to […]

Weekend Theme Music – April 24

Have I posted this one before? The memory starts to slide at a certain age. Let’s suffice it say yesterday brought me another reminder that there are moments in life when you have to slow down, look up and figure out what’s really going on. So off we go, into the blue again. Enjoy the ride. [youtube: 400 300]

Phoenix Real Estate Inventory Update – April 23

Inventory ticked down from last week’s report and sales ticked up by just under 200, bringing the months supply of inventory – the absorption rate – in the Phoenix real estate market to 3.45 months. While bank owned homes continue to drive the market – there is a 1.3 months supply of REO inventory – traditional, non distressed sales also are showing signs of a sellers’ market at 4.69 months of inventory. This comes with a fairly considerable caveat: the price has to be competitive for buyers to look. As always, all the particulars from the various cities and towns […]

Getting that Second Home Just Got Easier – Down Payment Requirements are Falling

Looking for a second home or vacation home but have been stymied by the 20 percent down payment required? It looks like help is on the way. Received a note from the good folks at Sterling Mortgage that 10 percent financing for second homes and vacation homes here in the Phoenix market now is available for the first time in about a year. Which goes to prove that lending, like everything, runs in cycles. One day it’s more conservative, the next day some are willing to take risks other are not. I’ve got feelers out with other lenders to see […]

Homebuyer Tax Credit Countdown: 11 Days to Go

In the next two weeks, the federal Homebuyers Tax Credit will reach its conclusion. To qualify for either the up to $8,000 first-time buyers credit or $6,000 move-up buyers credit, you need to be under contract by April 30 – less than two weeks from now – and escrow needs to close on or before June 30. Unlike the original $7,500 credit’s November deadline, where rumors floated consistently of an extension and expansion coming down the pike, there has been next to no discussion currently of expanding the credit beyond its current deadlines. Having said that, the tax credit alone […]

If You’re Looking to Own a Vacation Rental, Now is the Time to Buy

Though the vacation rental season in the Phoenix market is nearing its end, the months of April and May remain the time to buy a property to use as a vacation rental – especially if you’re looking to purchase in one of the area’s many retirement communities. Inventory thins substantially at the end of the spring as owners prepare for the summer exodus to the north and east. Fewer winter visitors means fewer friends in town, fewer renters debating whether this is the year in which they’ll finally buy and fewer buyers. In Westbrook Village, inventory levels that stay in […]

Phoenix Real Estate Inventory Update – April 16

Today’s advice before we get to the stats: take with a grain of salt anyone who feels the need to tell you “these are the facts” over and over and over again in effort to prove their point. There’s a reason for the expression “the facts speak for themselves.” What does this have to do with Phoenix real estate? Quite a bit. You may be hearing that the only reason sales in the Phoenix real estate market started to rise a year ago was because of the Homebuyer Tax credit and that sales will fall off the cliff when it […]

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