Archives for June 2012

FHA Home Buyers – The News is Getting Worse

Here’s a little known (dubious) fact … In the original script for Groundhog Day, the character played by Bill Murray was supposed to be an FHA appraiser, not a weatherman. The studios, however, felt it would be difficult for the public to relate to the all-too-real scenario of an FHA appraiser trapped forever in the […]

“Phoenix Overshot the Downside”

From Steve Cook of the BiggerPockets real estate investment blog: A new study of some of the hardest hit markets like Phoenix suggests that prices have been so low that they have been offering bargains for buyers because they became detached from economic fundamentals and now prices are rising as inventories reach record lows. “Phoenix […]

Phoenix Vacation Rental to Be Waiting for a Buyer

Just take a moment and enjoy that view … Doesn’t necessarily seem like it’s Phoenix, does it? Rather than the mountains or ubiquitous cacti, imagine waking up with a view of the lush, verdant grounds of Phoenix’s Japanese Friendship Gardens. Contrast that with the view up north in the winter … ice where the water […]

Introducing: ExpiredtoSoldAZ.Com

We often have a habit of making real estate market sound like rocket science – there are agents who talk about the 100-odd steps they follow on every new listing, which at least to me sounds more like the crew of Apollo 13 working their way through the re-entry procedures than the relatively basic act […]

How I Spent My Afternoon

Not selling all of these, but building the map of everything I’ve sold the past eight years. Not too bad, I’d say … View What I’ve Sold in a larger map

Phoenix Real Estate Inventory Holding Tight

As I would have said back in the stock broker days, inventory here in the Phoenix real estate market continues to trade in a fairly tight band. Right now, there are 7,830 single family detached homes for sale here in the Phoenix market. That’s about the same as what we’ve seen over the past month […]

From the Lone Dog Left in Town

If you’re one of the Boss’ regular non-real estate-type readers, feel free to take today off and we’ll catch you tomorrow. We set by the exits? Good deal. I haven’t written a word on this blog for a long, long time but snuck onto the keyboard to write about my old friend Odysseus. Seems the old […]

Shadow Inventory: ‘It’s a Bit like the Y2K Problem”

Still waiting for the flood of bank-owned homes to hit the Phoenix real estate market? It may be a long wait. From KTAR.com … Right now, there are about 8,800 homes for sale in the Phoenix area, compared with 50,000 in 2008. Many people believe the low number is because banks are holding foreclosed homes […]

Investing in Phoenix Real Estate and Some Basic Math

Let’s suppose you’ve got $80,000 burning a hole in your bank account, earning a whopping .0000005 percent (give or take a couple of zeroes) in interest and you’re thinking about investing that money in real estate. Being adverse to carrying a mortgage, you decide to use the entire $80,000 to purchase a house free and […]

Is Your Phoenix Investment Property Giving You a Sufficient Return?

Text from a letter I’m sending out this weekend to investor owners: IF YOUR PHOENIX AREA INVESTMENT PROPERTY HAS YOU ON TRACK FOR THE RETIREMENT YOU WANT, STOP READING NOW. If not … consider for a moment how else you could have your money invested – either utilizing a 1031 like-kind exchange and trading up […]