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Renovated Condos are Big Right Now There are 1,134 condos, town homes or patio homes in Maricopa County right now that are at least 2 bedroom, 2 bath and under $100,000! That is astounding. There are about 171 in Central Phoenix (depending on your definition of “Central”). About 75 of those are under $60,000. 34 are [...] Ever heard of a seller carry-back? Quite possibly not. The house pictured here is offered as a seller carry-back. The best way to describe it is when the seller of a property “carries the loan” instead of a bank. So, imagine you are the buyer of a home. Instead of going to a bank to get money [...] OK. I don’t have a degree in economics. I’m just a lowly real estate agent. But these guys over at ASU are only now saying that home prices are going up and I think they’ve spent a little too much time away from the light of day! “The March figures also show the first [...] As you might guess, March was an insane month. Everybody was jumping for that tax credit. There were almost 9,000 sales of homes & condos in the Phoenix metro area in March, which was the 2nd highest March sales month ever. The median sales price in March was higher than March 2009, making it the first year-over-year [...] This New York Times article is a very interesting demonstration of determining whether you should rent or buy. This is for those of you who want to geek out on numbers a little this morning. This is a great way to look at the situation without getting all hung up on predictions about where the market will [...] I just confirmed that this Haver Home is now starting renovations and will be on the market for under $160,000. I do not represent this seller. But, I am happy to represent you if you’d like to look at it. Please give me a call or email at realestate@kenclarkforaz.com if you want to know more. The original [...] This MSNBC article is a perfect example of how waiting for some mythological, dramatic drop in prices might actually price you out of the market because interest rates go up. In just a few weeks interest rates for new homes have gone from 5.0% to 5.3%. See the article for the reasons why. The rule of thumb [...] This news just in from John Hall and Associates: Initial numbers are in for March. Number of Closed Escrows for March is 8846, that’s a 16% increase over March 2009 and a 34% increase over February 2010. 2010’s YTD Closed figures show a 19% increase over 2009’s 1st Quarter numbers. REO sales numbers are continuing to decline as [...] Really. It’s going away. The $8,000 first time home buyer and the $6,500 repeat home tax credits will not longer be available after the end of April. So, set your clocks! By “Tax Credit Two-Step”, I mean that you must have an accepted contract by April 30th, but you can close as late as June 30th. If [...] After fears in late January that interest rates for FHA loans were going to start going up, they seem to have leveled off again. There are still concerns that rates will start heading upward in March. See my earlier post. Lesson: lock in now while rates are down! Have a look at the charts, below for rates –at [...] |
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