Archives for August 2011

Good News, Bad News in Phoenix Real Estate

Hey, folks … we’re number 1! From CoreLogic┬ávia Inman News: Eight out of the 10 largest metro areas in the nation saw yearly declines in July, with double-digit drops in the Phoenix and Chicago metro areas. When distressed sales are excluded, half of the 10 metros saw yearly declines, with Phoenix again the hardest hit. […]

Monsoons and the Real Estate Market

One of the first things people learn when they move to the Phoenix area is to never trust a thunderhead. Years ago I was visiting friends in the Dallas-Fort Worth Metroplex and there were storms on the horizon. The very, very flat horizon, incidentally. Looking at those darkening clouds, there was no question the thunderstorms […]

Rain Shadow Over the Westgate City Center

Monsoon thunderstorms surrounded the West Valley last night, though we didn’t end up with anything more than a little dust. What happens when one of these thunderstorms blocks the sunlight in a specific spot? A rain shadow across the sky … this one above the Westgate City Center in Glendale a few minutes before the […]

Congratulations! Now Close That Short Sale in 12 Days

As we continue in our occasional articles discussing the demise of the AAR Residential Resale Purchase Contract, let’s take a look at the Short Sale Addendum … According to the boilerplate on the form, once the lender has approved the short sale and the seller has given notice to the buyer, the buyer has 30 […]

Bank Owned Homes and Bridezillas

As I write this, my eldest is watching Bridezillas. It’s hard to explain just how ridiculously painful this show is, primarily because as these lunatic brides stomp around, yell and curse at everyone around them and essentially act is the world revolves around them, not a single person has the guts to tell them to […]

Hey Scammers! Africa? Really?

I received this e-mail last night … Is this property owned or still for sale? The reason I’m asking is because I got a funny email from someone that had listed this property for rent for $700-mo and a $500 deposit, all utilities included 18:: a-c. They said they were leaving for 8 yrs to […]

Glendale Arizona Among Money Magazine’s Most Affordable Cities

Imagine that … some good real estate news coming out of the Northwest Valley. Money Magazine has named Glendale Arizona one the top 25 most affordable cities in the country. The city of a quarter-million has long played second fiddle to nearby Phoenix. Now, however, it boasts two major league sports teams, the NFL’s Cardinals […]

Don’t Count on Escrow Companies Being Neutral Third Parties

In theory, escrow companies in Arizona are supposed to be neutral third parties who not only coordinate the escrow but also collect the buyers’ earnest deposit and then can assign that deposit in the event of a dispute based on the wording of the contract. Buyers and sellers, when they sign the Arizona Association of […]

About Verrado in Buckeye Arizona

Yesterday, the wife and I spent the day in Verrado helping friends move in the triple-digit heat. This, incidentally, is not the way to see Verrado, a subdivision in Buckeye on the north side of I-10 a couple of miles east of Highway 85 (aka the road to San Diego via Gila Bend). Rather than […]

A Picture’s Sometimes Worth a Half-Dozen Words

I saw these beauties from the Arizona Regional MLS this morning and had to share. Both of these are the primary photographs for these two homes for sale: “Agent can’t change camera’s default settings.” “Here’s one bedroom, extrapolate from here.” “Don’t get too close. We didn’t.” “Cute starter home, suitable for framing.” “Agent used to […]