Arizona Real Estate Showing Signs Of Life And The WSJ Says The Housing Market Is Recovering - Can This Be True?
By geoff | May 8, 2008
Current MLS Listings of central Arizona Homes For Sale indicate that we have a 7.7 month supply of homes for sale in the Greater Phoenix area with one of the lowest amount of supply being Tempe with only a 6.4 month supply.
Considering that a 6 month supply is generally viewed as a real estate market that is faily balanced between buyers and sellers this is a great improvement over the “crisis” in Arizona real estate that the media is fond of repeating.
The Phoenix Arizona area continues to be a draw for approximately 100,000 people a year looking to move to warmer climates and a vibrant lifestyle - gosh, where are all these people going to live?
Let’s see, with residential real estate builders building fewer and fewer new homes, this inventory could shrink as fast as an ice cube on a hot Arizona August day!
In a recent article, even the Wall Street Journal seems to agree that the countries real estate market may be on the mend, especially with home loan mortgage interest rates as low as they are today.
In part the WSJ article says:
The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now. Furthermore, residential construction is close to 15-year lows at 3.8% of GDP; by the fourth quarter of this year, it will probably hit the lowest level ever. So what’s going to stop the housing decline? Very simply, the same thing that caused the bust: affordability. Inventories are declining because construction activity has been falling for such a long time that home completions are now just about undershooting new home sales. In a few months, completions of new homes for sale could be undershooting new home sales by 50,000-100,000 annually. Inventories will drop even faster to 400,000 — or seven months of supply — by the end of 2008.
Is now the time to buy Arizona real estate, a vacation home or second home. Signs are pointing towards the answer being a resounding yes.
You can contact us regarding a home search or you can start search the MLS Listings yourself by clicking on the MLS search list in the right margin.
Topics: Arizona Home Prices | 1 Comment »
Arizona Real Estate Activity Sharply Increased In The Past Month
By geoff | April 8, 2008
While much has been written about Arizona Real Estate and home prices in the local newspapers, most of it has been a reflection of national real estate averages.
Unfortunately, this leads to a situation where real estate news is fabricated or “selected” to paint the bleakest possible picture - in my opinion, this is the usual effort to increase newspaper circulation - not educate readers accurately.
Here is a summary of the recent Phoenix Arizona real estate market as found in the MLS data for the area. I think you’ll find this information to be a pleasant relief from the usual “sky is falling” newstories that barrage us on a daily basis.
Overall Maricopa County MLS Sales were up 27% from February to March, and topped our 6-month trend.
Scottsdale Area Sales were up 16% overall with the key areas below having a great month:
404 (Paradise Valley area) – up 50%
408 (Gainey Ranch area) – up 44%
410 (Old Town Scottsdale) – up 35%
407 (Pinnacle Peak) – up 35%
Central Phoenix Sales were up 27% overall with the following areas standing out:
208 (South Phoenix) – up 50%
201 (Anthem/New River) – up 47%
204 (Moon Valley area) – up 37%
203 (Northwest Phoenix) – up 23%
206 (Biltmore/Central Ave) – up 13%
West Side Area Sales were up 23% overall with the areas below doing very well:
314 (West Goodyear) – up 70%
312 (Lake Pleasant) – up 50%
321 (Glendale/Peoria) – up 35%
313 (Surprise/El Mirage) – up 34%
324 (West Phoenix) – up 33%
318 (Sun City/Sun City West) – up 29%
Southeast Valley topped the charts with an increase of 31% overall with the areas below posting impressive improvements:
507 (Gilbert/Sun Lakes) – up 71%
501 (Ahwatukee) – up 57%
510 (Gilbert) – up 55%
503 (North Tempe) – up 47%
513 (East Mesa) – up 41%
504 (South Tempe) – up 36%
Areas 312 (Lake Pleasant) and 321 (Glendale/Peoria) made it back into the top 10 areas for sales in March
Area 203 (Northwest Phoenix) topped the Fastest Selling chart with an average of 94 Days on Market for the properties that sold in the area. Area 505 (West Mesa) wasn’t too far behind at 98 average DOM.
Average Sales Prices have dropped 7% from October 2007-March 2008 with the largest drops occurring from October-November and January-February. Here is my last review of the prices of Arizona Real Estate and Homes.
So what does all this mean to you? If you are looking to buy a home or real estate in the area, I would not expect real estate prices to remain dormant forever. This data suggests that the increased interest in home buying that Realtors are reporting may be returning.
This may be a real indication of Arizona home prices returning to an upward trend.
If you are looking to purchase Arizona Real Estate or need mortgage financing anywhere in the U.S you can get a free mortgage interest rate quote here.
As the author and owner of this article, you have my permission to publish it electronically or on your own Web site, free of charge as long as the following by-line and functional Internet link is included in its entirety.
Written by Geoff Green, Real Estate Professional at http://www.Arizona-Home-Experts.com Copyright 2008.
Topics: Arizona Home Prices, Real Estate | No Comments »
It’s A Great Time to Buy Arizona Real Estate Or A New Home or Second Home in Arizona
By geoff | April 2, 2008
Arizona real estate and homes in Arizona have been in a buyers market for some time now. You may be asking yourself, Is this the best time to finally buy Arizona real estate?
For years rapidly increasing home prices kept many home buyers out of the housing market. But as home values slide further downward and interest rates hover at relatively low levels, it may be time to start looking to buy that first house or an Arizona vacation home.
“Mortgage lenders aren’t cutting everyone off. They’re reverting to sanity after years of lending money to people who were poorly qualified to make the payments,” says Geoff Green, senior loan officer at LibertyOne Lending located in Tempe Arizona.
For first time buyers or buyers of vacation homes in Arizona, it’s important to remember that you’re investing in a place to live, not speculating in the stock market or even putting money into a savings account.
The first step before you even look at any Arizona real estate is to determine what you can afford. Or more importantly, sometimes people want to figure out what their maximum mortgage payment should be so they can sleep at night.
Once you’ve decided what that number or payment size is and been qualified by a lender, don’t let a Realtor show you properties that cost more than you want to pay. If your Realtor continues to show you properties over your budget then find another Realtor to work with.
Now more than ever, location is crucial, down to the neighborhood and street level. Focus on good school districts, crime statistics and any impending construction or public works that could increase or decrease the value of a home.
Whether buying your first home, a move up or down home or an Arizona vacation home, buy for the long haul. Arizona Real Estate prices have certainly been affected by the recent housing bubble, however, well chosen properties in closer-in locations have not been dropping as far as newer developments that are miles from work, shopping and schools.
For free access to the greater Phoenix Arizona MLS listings to locate homes for sale or to research the value of your Arizona home, click here, MLS Listings.
For nationwide lending and guaranteed lowest mortgage interest rates visit The Mortgage Advantage.
As the author and owner of this article, you have my permission to publish it electronically or on your own Web site, free of charge as long as the following by-line and functional Internet link is included in its entirety.
Written by Geoff Green, Real Estate Professional at http://www.Arizona-Home-Experts.com Copyright 2008.
Topics: Arizona Homes, MLS Listings, Mortgage interest rates, arizona real estate | No Comments »
Arizona Real Estate Prices Have Crashed - Not!
By geoff | April 1, 2008
It’s all over the newspapers! Arizona home and real estate prices have crashed! It’s a terrible time to buy - the sky is falling! Take your monthly payment and go rent, never think about buying real estate again!
Hopefully you are a little more realistic about home prices than the constant barrage of bad news about the Arizona real estate market. Perhaps you understand that most of these headlines are designed to sell ad space in newspapers and the TV.
Of course there are problem areas, of course there are homes now worth less than the current owner paid for them - but let’s take a look at the broader picture.
Here is a chart of the Median Prices of Homes in the Greater Phoenix real estate market going back to 1998.
Certainly if you had purchased a new home at the peak of the market then the current median values of these homes are about 8% less than the peak - distressing, but hardly a disaster - unless you have to sell for some reason.
Resale homes purchased at the peak are now resting at a median level that is lower by about 5%.
However, if you have owned your home prior to about 2002 (and haven’t tapped your equity) then you may be surprised at how much equity you now have in your home.
For example, the median price for phoenix homes in 2002 was $149,900, in 2007 the median price is $265,655 - a 77% price increase!
What does that mean for buyers in todays market? I suggest that given the current environment you may want to buy that property now. With all the low interest rates the fed has thrown at the market, mortgage rates are bound to increase in the future.
Real estate prices will eventually resume their upward creep - even though most of us don’t believe that they will based on todays headlines.
Visit free mls listings to find your dream home and then you can go here to get a free mortgage rate quote.
As the author and owner of this article, you have my permission to publish it electronically or on your own Web site, free of charge as long as the following by-line and functional Internet link is included in its entirety.
Written by Geoff Green, Real Estate Professional at http://www.Arizona-Home-Experts.com Copyright 2008.
Topics: Arizona Homes, Mortgage interest rates, arizona real estate | No Comments »
About Phoenix, Phoenix Homes and Phoenix Real Estate
By geoff | March 27, 2008
About Phoenix
The Phoenix Metropolitan Area includes several cities that are right next door to each other and extend over 80 miles from east to west and 40 miles from north to south.
When we talk about Phoenix and The Valley of the Sun, the area includes Scottsdale, Glendale, Tempe, Mesa, Chandler, Gilbert, Carefree, Cave Creek, Fountain Hills, Peoria, Avondale, Litchfield Park, Paradise Valley, Sun City, and Surprise, all within Maricopa County.
Who Lives in Arizona and the City of Phoenix?
Arizona is the nation’s fastest growing state as of 2007
Phoenix has 1,388,000 citizens as of July 2003 - 5th largest city in the U.S.
Maricopa County has 3,397,000 citizens as of July 2003
Average Age - 33.2 years old.
More Phoenix Arizona Facts
The Phoenix Metropolitan Area covers almost 1,000 square miles.
There are more than 180 area golf courses, private and public.
Arizona has 67 man made and natural lakes and more boating per capita than many other states. There is only one natural lake in the whole sate.
The Valley of the Sun is home to 23 Indian Reservations that represent 21 Native American Tribes.
Cross Country and Downhill skiing only 2 hours away.
Phoenix is the 15th largest metropolitan area and the 6th fastest growing area in the country.
The Valley of the Sun ranks 5th in the availability and quality of arts and culture in the country offering more than 30 museums and 160 art galleries, The Phoenix Symphony, Arizona Opera Company, The Herberger Theater and the newly renovated Orpheum Theater.
The Desert Botanical Garden has the largest variety of desert plants and cacti collection in the world.
After you have done some preliminary research about Phoenix real estate and Phoenix homes for sale, you’ll want to talk to area experts who can help you with specific questions you will have.
Questions such as the characteristics of each of the area towns, where the best real estate values are located, how long are the commutes, where is industry concentrated etc.
You also may be interested in a newly constructed home in the Phoenix area. If so you’ll want to know who are the reputable builders, who builds the best quality, what style and in what location.
If you are moving from out of state you may have some questions about the Phoenix home buying process. Its not exactly the wild west but there are some differences from the way real estate transactions work in many eastern states.
Searching for the right home in the right location can be a time-consuming and tedious process - more so if you are unfamiliar with the area. Realtors at Keller Williams Realty are highly trained in creating successful real estate transactions and are ready to answer your questions about buying, selling and investing in Phoenix real estate. Our objective is to use our market knowledge to create peace of mind during your next real estate transaction.
As you find homes from our proprietary links on this page that you would like to take a closer look at, just contact us and we’ll help you setup an appointment to visit what could potentially be your new home. We’ll be ready to answer all your concerns as they arise - and some before that!
Every single piece of real estate - land, condo, townhouse, single family home, multi family investments - listed for sale in the Phoenix metropolitan area is in our database and available for your review from the comfort of your easy chair! That sure beats driving around on expensive gasoline looking for telephone numbers on “For Sale” signs doesn’t it? We even contact homes for sale by owners just to make sure we have the maximum amount of real estate inventory possible for your review.
If you are considering a move to Phoenix Arizona you are going to love what you hear about the area and homes. Although much of what you see in and about Phoenix is relatively new, the area has a history going back to the Hohokam Indians about 1700 years ago.
More recently, Phoenix the city was founded in the 1860’s - yes, way back before air conditioning was invented people lived here. Phoenix is now the United States’ sixth largest city and almost 1.3 million people call it home. Greater Phoenix - also known as the Valley of the Sun - is a conglomeration of many towns and cities including Scottsdale, Tempe, Glendale, Chandler, Peoria, Paradise Valley and Sun City to name a few, is home to approximately 3.4 million people.
But don’t make the mistake that Phoenix is a retirement home - its far from it. More than 50 percent of the population is between 18 and 54 years of age, which is younger than the national average.
You may be asking yourself is there any real estate in remaining in Phoenix that isn’t already developed? The answer is that Phoenix is probably the only city on Earth that has huge chunks of vacant real estate located on main thoroughfares. This is a result of removing dilapidated buildings that nobody wants to live or work in and building new, modern state of the art housing and commercial buildings. Phoenix real estate seems to be in a constant state of renewal.
Why do so many people want to live here? Once people visit, especially during the winter months, its hard to go back to snow, ice and freezing temperatures back home. Cost of living is reasonable and real estate taxes are comparatively low. Sitting around the pool in the backyard basking in the sun in mid-February sure beats shoveling 2 feet of snow from the driveway any time!
Area recreation includes almost 200 golf courses you can play year round, three major golf tournaments, the largest municipal park in the world, 1700 acres of parkland and six lakes located within a 75 minute drive of Phoenix.
If sports are your thing consider that Phoenix hosted the 1996 Super Bowl and will host the 2008 Super Bowl. Phoenix is home to the college Fiesta Bowl playoff game - not to mention the Fiesta Bowl parade. Phoenix is the home of the Arizona Diamondbacks and hosts seven major league baseball teams each spring as part of the Cactus League. Motor sports? Phoenix is home to many different motor sports including Indy Car and NASCAR events at Phoenix International Raceway, drag racing at Manzanita Speedway, and boat racing at Firebird International Raceway.
No description of Phoenix would be complete without a discussion of the weather. Although the area has an average temperature of 72.6 deg F, it can get startlingly hot in the summer, but it’s also very survivable. Some people even like it. The average number of over 100 degree days in Phoenix is 89. The fewest number of over 100 degree days ever recorded was 48 - in 1913. The greatest number of over 100 degree days ever recorded in Phoenix was 143 in 1989. The Phoenix area has an average annual rainfall of 7.66 inches - and every inch of rainfall makes as many news headlines as a foot of snow does in colder climates!
When you are ready to talk about Phoenix real estate and your new Phoenix home, just give us a call…
(480) 882-0968 or use this form.
Search the Arizona Real Estate listing database right from this website just like agents do!
Contact us for FREE competitive real estate market analysis of your property.
Sign up for FREE email notices of Arizona real estate and homes new to the market.
Geoff Green
Keller Williams Realty East Valley
(480) 882-0968
Topics: Phoenix Homes, Real Estate | No Comments »
About Arizona, Homes in Arizona And Arizona Real Estate
By geoff | March 22, 2008
Looking for an Arizona Home or Real Estate or just curious about the Arizona property market? Want to research the value of your property or perhaps research new towns and locations in Arizona? If so - you’ve arrived at the right place!
If you are moving here you are going to love living in Arizona - but if you live here you know that already!
Whether you enjoy the thrill of an unparalleled outdoor adventure amid some of the most awe-inspiring scenery on the planet, an exotic sun-drenched getaway to an indulgent, world-class spa or exploring the rich history and multifaceted cultural offerings of the Grand Canyon State, your life in Arizona is going to be one that will lift spirits, warm souls and provide memories for years to come.
One of the Seven Wonders of the World exists here among our lush desert landscapes, crystal-clear waters and breathtaking mountain peaks. From small communities to one of the fastest growing cities in the United States, Arizona offers unique experiences packed with adventure and stunning sights.
Yeah, but what about the weather?
No information about Arizona is complete without a discussion of the weather. Arizona’s weather is popularly categorized as hot and dry, but what most people outside the state don’t realize is that Arizona’s climate is actually quite varied.
While Central Arizonans are basking in mild weather with cool breezes in January, folks in Northern Arizona might be swooshing down the state’s ski slopes enjoying a cool winter day. And in the summer, Southern Arizonans could be sunbathing, while people in North-Central Arizona might slip on sweaters and enjoy the crisp night air.
No matter what time of year, you’ll find beautiful, perfect weather somewhere.
Here are some more interesting facts about Arizona…
- Interstate 10 stretches 390 miles across Arizona.
- The amount of copper on the roof of the Arizona Capitol building is equivalent to 4,800,000 pennies.
- Arizona has the largest percentage of land designated as Native American Tribal land.
- The Hopi village of Oraibi is the oldest Native American settlement in the United States. The village was built 1100 and was discovered in 1540 by Pedro de Tovar, a lieutenant of Coronado.
- Sierra Vista, located in the southern portion of Arizona, boasts more hummingbird species than any other state and is referred to as “The Hummingbird Capital of the United States”.
- Phoenix South Mountain Preserve is the largest Municipal Park in the country.
- Since 1888, Prescott, Arizona has been home to the World’s Oldest Rodeo.
- The only place in the U.S. where mail is still delivered by mule is in Havasupai, located at the bottom of the Grand Canyon.
- The world’s largest antique, London Bridge, is located in Lake Havasu City. This is the only object or place in the United States that has World War II damage to it. (It was damaged in London prior to moving to Lake Havasu.)
About our Real Estate office and how we can help create peace of mind in your next real estate transaction and settling into your new Arizona home.
Our office - Keller Williams Realty East Valley concentrates generally on real estate and homes located in the eastern part of the Phoenix Metropolitan area - this is our “home turf” - and we know it well.
We can locate excellent agents in other Keller Williams offices that specialize in other areas within Arizona or across the U.S.
Our home turf is comprised of the cities of Phoenix, Scottsdale, Tempe, Chandler, Mesa and Ahwatukee.
Every Arizona home search or sale starts with a vision, what’s yours?
Every Arizona town has it’s own unique history, feeling, culture and characteristics. We can help focus your home search on what matters most to you, producing a warm feeling of being “home” wherever you choose to purchase.
You can start doing research on Arizona real estate right here on this site - for free. Take advantage of direct access to available Arizona real estate. Search by town, search by subdivision, search by price, and more… Combine searches however you want - you’re in charge. When you’re ready to visit the real estate that appeals to you just let us know - we’ll be happy to help!
If searching by yourself seems a little daunting you can send us your home search parameters and we’ll send you the results.
You’ll get detailed information with pictures of real estate currently on the market across Arizona. You’ll get the same information that we have about the property including pictures, information on school districts, real estate description, number of bedrooms, number of bathrooms, lot size, type of heat, and other useful information. You’ll even get the address and a map showing the exact location of the real estate.
You can drive by and take a look without ever talking to a real estate agent!
Doesn’t that sound better than driving around researching areas in hot traffic on expensive gas? We’ve provided you with the tools to search for Arizona homes and real estate right from your living room!
Remember this is no-obligation, we are here to help you in your real estate and home search.
Here is a little information about us. Founded in 1983, Keller Williams Realty Inc. is an international real estate company with more than 700 offices located across the U.S. and Canada. Keller Williams began franchising offices in 1991, and following years of phenomenal growth and success, Keller Williams is currently the fourth-largest (as of April 2007) U.S. residential real estate firm in North America. The company has succeeded by treating its 72,000-plus associates as partners and shares its knowledge, policy control, and company profits on a system-wide basis.
To grow that fast we’ve got to be doing customer service right - wouldn’t you agree?
Why Use Keller Williams Realty? Because your move matters…
Dedication:
Keller Williams Realty is made up of top full time sales associates and supporting staff that are carefully selected to be part of our firm. With our team approach and office profit-sharing foundation, you benefit by having the entire Keller Williams team actively interested in selling your home or other real estate. You won’t find any sales impeding competition between agents at Keller Williams!
Education:
In addition to required education for licensing, our real estate sales associates attend numerous courses through Keller Williams University to keep them up-to-date on current real estate trends and information. Our training is the most comprehensive in the industry. This ensures your home is marketed using the both the fundamentals of real estate marketing that has always worked coupled with cutting edge technology that ensures your home gets maximum exposure to the largest number of qualified buyers.
Professional Standards:
Our standards for performance are for the benefit of our clients and they are the highest standards in the industry. Our policy manual guarantees our professional standards. Real Estate Agents who don’t buy into our Belief System just don’t last long at a Keller Williams office. This helps ensure that you will have a pleasant experience with just about any agent you select from any of our offices.
Our Belief System: The following is our belief system that provides the foundation for providing customer service for every real estate transaction. We take this seriously:
- Win-Win Or no deal
- Integrity Do the right thing
- Commitment In all things
- Communication Seek first to understand
- Creativity Ideas before results
- Customers Always come first
- Teamwork Together everyone achieves more
- Trust Starts with honesty
- Success Results through people
Financing Power:
Our sales associates and staff maintain a day-to-day contact with preferred lending institutions in their business area. This helps our buyers find the best possible financing and keeps well qualified buyers viewing your home for a potential purchase.
Pre-qualified Buyers:
At Keller Williams Realty, we work to protect home buyers and sellers by obtaining pre-qualifying information on all potential buyers. This service helps buyers know if they might be qualified to purchase a home and it helps sellers know if their purchaser may be qualified to purchase their home. You won’t see a Keller Williams agent bringing endless numbers of unqualified buyers traipsing through your home on a site seeing expedition - we value your time and your privacy.
Inventory Knowledge:
In order to be successful in working with real estate buyers, each Keller Williams Realty office maintains a large inventory of brokerage and new homes for sale. Our associates are always aware of all the available properties within their market and work within a team atmosphere for the benefit of our customers.
Total Commitment:
Our commitment to you is this - we will always strive to provide professional real estate services to the very best of our ability.
Search the Arizona Home and Real Estate listing database right from this website just like agents do!
Contact us today regarding your new Arizona home and experience the Keller Williams difference for yourself!
Geoff Green
Keller Williams Realty East Valley
(480) 882-0968
Topics: Arizona Homes, Real Estate | No Comments »
