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My friend in the real estate industry was commenting to me on Tuesday that it is difficult these days to be taken at our word. He said, “People I talk to expect me to say that now is the best time to buy, so they discount what I’m saying. But, really rates have not been this [...] Average prices are going up again. I’ve been saying it for a while, but it is official when ASU says it. Check out this article about how home prices have gone up 5.5% since January of this year. It reminds me of when I sold my home in Woodlea/Melrose in 2006. I just waited until I [...] 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 [...] 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 [...] |
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