Entries Tagged 'Real Estate Chatter' ↓

Investors are noticing the Phoenix real estate market and are BUYING!  Talk in the investor circles is that the Phoenix market has bottomed out (haven’t I been saying that?) and now is the time to buy. 

Forbes Magazine has taken note and named Phoenix one of the top 10 Real Estate Investment Markets in the country.

The investors that are buying in the Phoenix area today are a different type of investor than that who played havok with our market 3-4 years ago.  This investor is wiser.  Is not playing real estate mogul without a clue as to how that is done in the real world.  These investors know what they’re doing and they’re coming with cash in hand vs the “no money down” investors that finally burst our bubble during the boom.

Today’s investors are coming from out of state and Canada.  They’ve been watching our market for a couple years now and feel now is the best time to buy.  Good news at last for sellers in the valley.

So where did we rank?  Number 9.  But, if you look at the 5 largest cities we ranked as the most affordable.  Add to that our great schools, good highway system, beautiful new communities and outstanding weather…Well, it’s a no-brainer.  The Valley of the Sun just can’t be beat.

The top 10 cities for great real estate investment opportunities are…drum roll please…

#1 New York City, #2 Washington DC, #3 Los Angeles, #4 San Francisco, #5 Seattle, #6 Boston, #7 Chicago, #8 Las Vegas, #9 Phoenix and #10 Orlando.

Canadian buyer activity has slowed in the Valley.  “Why…oh…Why?” you might ask. 

I have one very big reason to share with you…IT’S HOT!!!! Yes, that’s it.  Really.  This is the best time to be in Canada.  Temperatures are moderate and the snow is finally gone.  Combine that with it’s just about the worst time to be in Phoenix and you’ve got a reason. 

I’m still hearing from Canadians daily as they watch my Market Conditions Report  page and see our prices are still declining (though they aren’t falling as fast or as far as they were last year).  They are planning trips to Arizona in the fall to pick up some vacation property deals…and we’ll welcome them back with open arms and open doors!

Visit www.AmySellsAZ.com for complete weekly market updates on Phoenix East Valley Real Estate.

Amy Jones specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

I’ll call this week’s winners “TRUTH IN ADVERTISING”.  I can’t figure out why a photo like this would be taken.  Seems it would have benefited all parties to clean the house out prior to listing it.

Yet I must say, there’s nothing dishonest about these photos. The marketing strategy must be…”Yes, I’m ugly, but I’ve got a great personality” or more likely “a face not even a mother could love”. 

I would recommend the buyer write in a credit for a large dumpster on this one.

And it’s a Tie.  They’re both winners!  Good thing they’re both of the same house.  Wouldn’t want to make anyone jealous.

Just when I thought marketing schemes couldn’t get much wackier, I hear about The Arbors at Branch Creek in Tampa, Florida.  Sales in this condo conversion community have been sluggish, so developers thought making one of the two pools in the community “clothing optional”. 

The AP article about the community shares that  “The complex Web site shows a barebacked woman meditating next to a steaming hot tub, and promises: “You’re going to be very comfortable with our dress code. Our residents are welcome to shed more than their inhibitions as they enter the gates of Eden. Because when our residents come home after a busy day in the working world, they want to completely unburden themselves, shed the trappings of the outside world … and be totally free.” 

Uhhh… no, not really.  I can’t think of anything that would make me less comfortable than sitting around my community pool surrounding by naked people.  The model in the video aside, I’ll venture to guess that most of the “unburdened bods” who have freed themselves from the burden of a bathing suit are probably not anything I would want to see.  I know they’re calling it the “Gates of Eden”, but I’m pretty sure Adam & Eve never ate a Big Mac, Fries & a Shake.

I wonder if this idea will catch on?  There are plenty of condo communities in the valley where sluggish sales are pretty common.  If it does…maybe buying stock in sun block would be a smart move. 

I was once known as the “Scorpion Queen”. When I moved to Arizona 7 years ago, I killed over 90 scorpions in my Warner Ranch home (in Tempe) in a year.

The night I moved in I saw the first one under the sink in my master bedroom. Being the Midwestern girl that I am…I thought it was a centipede as I chased it around with a tissue. UNTIL…it stopped and raised its tail in classic scorpion fashion. What did I do then? Screamed like a 3 year old of course. My 77 year old father came running to rescue me by swatting at the scorpion with his foam slipper (I finally squashed it with a hammer).

A year and a half later I was a self-professed expert.

Where do scorpions live in the valley? Hmm.. everywhere. Do I have them in my new house now? No.

There are things you should know that can help you buy a scorpion-free home, but remember…no guarantees… They were here first and have been here longer than dinosaurs.

First, know that the Bark scorpion that lives in the valley likes wet and shady places (so why do they live in the desert? Dumb scorpion.) so they especially like the underground irrigation lines that are typical in citrus orchards. Developers have taken over many of the old orchards in the valley and built homes there so it’s not surprising to note that those communities have a higher scorpion population.

However, just because your neighbor has scorpions doesn’t mean you will and vice versa. Scorpions are territorial and don’t like to leave an area if they’re comfortable.

Because scorpions like damp places, there is usually a higher population in grassy damp areas like golf courses fairways. But, just to confuse us, they also like dry rocky areas like mountain preserves. So homes bordering those areas are more likely to include a scorpion or two with that lot premium.

And while we’re talking about a scorpion or two, I’ve found they usually travel in pairs(isn’t that romantic?). If you see one…keep looking.

So how do you know if a home has scorpions before you buy it? Well you can’t for sure. Seller’s do have an obligation to disclose whether they’ve ever seen a scorpion in their house or yard and this will be found on the Seller’s Property Disclosure Statement. But just because they have an obligation to disclose, doesn’t mean they will.

Your Realtor can be very helpful especially if specializing in a certain area, he or she will sometime have a knowledge of the areas where scorpions have shown their tails. But again, a Realtor isn’t an expert on all communties, and just because your neighbor doesn’t have them…yadda yadda.

What do you do if you see a scorpion in the house you just purchased? After you stop screaming, relax. There are ways to help reduce the population. First get an Arizona Fly Swatter (that’s a hammer) for every room. Don’t laugh…it works.

Then, get rid of the scorpion’s food supply~ Crickets, Roaches & Spiders. A good pest control company can help there.

Another trick is diatonaceous earth. This is the powder you put in pool filters. It’s said to be effective keeping scorpions out of your house if you put a trail of the powder at entry points to your home (doorways & windows sills mostly). The powder is composed of glass-like particles which slice open the soft belly of the scorpion when it crawls across it. Nice.

You will be told that scorpions are impervious to residual insecticides…however a couple that come highly recommended are Cykick Bug Spray & Delta Eight Granules.

Consider having your home professionally sealed (note~ this is different than hermetically sealed). Many pest control companies offer this service where they seal all possible scorpion entry points. It’s not cheap, but it does work.

Last but not least…because this can be fun. Get a black light and an Arizona Fly Swatter and scour your home and yard after dark. Scorpions glow yellow-green under a black light. Whack-A-Scorp. Yes, good times.

I’m happy to say I’ve never been stung by a scorpion. I’ve heard the sting is pretty miserable but they are not usually life threatening unless you are allergic, have a compromised immune system, or are under 10 years old or elderly. Take comfort that Arizona does have antivenin and no one has died from a scorpion sting in over 40 years. So if you get stung get emergency treatment to make sure you’re ok. You probably are.

Final note. I had a client who bought a home in the foothills of Ahwatukee..backing to the preserve. He got stung on the butt sitting on the toilet. Apparently the scorpion was hiding under the seat. So ladies, maybe it’s best if he does leave the toilet seat up.

Visit www.AmySellsAZ.com for complete weekly market updates on Phoenix East Valley Real Estate.

Amy Jones specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

The temperature’s rising in the Valley of the Sun…but it’s not just the sun that’s hot.  What began as a “feeling” I had 3 months ago is now a reality that the “experts” are reporting on.  Yes, the Phoenix metro real estate market is showing signs of life again! 

For the first time since July of 2005, the local resale housing market sales have jumped by 15% over this time last year.  April 2008 posted 5,585 recorded sales compared to 4,855 sales in April 2007 (and increased significantly in just one month…4,335 in March 2008).

Prices have made owning a home affordable for many today who were squeezed out of the market during the peak of our sales boom in 2005.

Foreclosures have played a large part in the price reductions and now make up 44% of all houses selling under $200,000.  Last year, foreclosures made up only 16% of the market.

Bottom line….the “Bottom” just may be here.  So if you’ve been fence sitting…don’t wait too long. That great deal you’ve been watching may be gone tomorrow and you’ll be singing the “ShouldaWouldaCoulda” song again.

Check www.AmySellsAZ.com for complete weekly market updates on Phoenix East Valley Real Estate.

Amy Jones specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

Todays entries in the ugly marketing photo category are spectacular!  A true testament to poor marketing skills and a lesson in what NOT to do when selling your home!  Sellers…please ask your agent to show you your MLS listing so your photos don’t end up on my ugly home marketing photos page!

Actual marketing photos from the MLS

How your home will look without your glasses…or after 23 beers…

Yes…this is the exact window treatment I was looking for.  Does it come with the house?  How ’bout the junk on the floor…can I write that into the offer too?

and finally…A home to discourage those pesky door to door salesmen…

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For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite.

Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

Search the Arizona MLS   Search the White Mountain MLS

I chose to live and work in the Chandler area after moving to Arizona 7 years ago after researching all valley locations.  I found a quality of life in Chandler that was a perfect fit for me, and obviously for 250,000 others who currently call Chandler, Arizona home.

When I moved here there were still dairy farms every mile or two which added to the rural charm.  Sadly, most of the dairy farms are gone (don’t miss that smell though).  Except for a handful of holdouts, they’ve been replaced by corporate buildings (including Intel which is Chandler’s largest employer with over 10,000 employees..one of which is my very own daughter) and newly built residential communities.

Nevertheless, Chandler is a perfect fit for anyone looking to get some bang for their buck without sacrificing superb amenities including entertainment, shopping and restaurants for every budget. 

Home to several lake and golf course communities as well as dozens of condo-conversion communities with prices starting in the low $100,000’s.  Many, if not most, of these communities offer swimming pools, workout facilities, & clubhouses.  Hundreds of beautiful single family homes with room to breath are also delighting today’s buyers.

One of the most desirable factors for relocating to Chandler, Arizona is the ease of commuting.  Easy access to Interstate 10, US 60 and Loops 101 & the newest addition, Loop 202.

Home to Chandler Fashion Center . dining run the gamut, from NYPD Pizza & Famous Daves BBQ and just about any other well-known family friendly establishment, to the newest additions at Promenade at Fulton Ranch and the Fulton Ranch Town Center, Cork & Sau’tee.

Downtown Chandler’s growing historic district includes some of the Valley’s most unique shops and eateries in a walkable setting.  Like Wine?  You’ll love 98 South Wine Bar located in Downtown Chandler

There are 2329 active listings in Chandler today in the Arizona Regional MLS.  Prices range from $69,900 for a mobile home to just under $4,000,000 for a 9668 SF 6 Bedroom, 7 Bath estate. 

Whether you’re a growing family, an empty-nester or a single professional, Chandler is one of the best locales to find just about everything you could be looking for.

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For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite.

Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

Search the Arizona MLS   Search the White Mountain MLS

The Real Estate Market in the Phoenix metro area continues to show improvement.  Almost all cities show a reduction in active listings and steady buyer activity.  Interesting to note that homes that are selling are typically NOT short sale listings.  We continue to see a high percentage of sales of homes that are well cared for with a seller who has realistic price expectations.  This is the type of home that IS selling. 

The Southeast Valley in now carrying less than 10 months of inventory.  In a normal, balanced market we carry an average of 6 months worth of inventory. 

There was 15.7 months worth of inventory in the Southeast Valley during the last week of October, 2007. We have experienced a gradual reduction in that inventory most noticeably over the last 6 weeks and this could be confirming that we have finally hit bottom.  If so, we should notice a plateau over the upcoming months with a gradual return to normal appreciation.  Good news for homeowners in the East Valley. 

Buyers who have been sitting on the fence waiting for prices to stabilize are encouraged to jump off that fence while interest rates are still favorable and inventory plentiful.

HIGHLIGHTS OF THIS WEEK’S REAL ESTATE ACTIVITY IN THE EAST VALLEY

This week, inventories have continued to drop across the board except for Ahwatukee which remained at last week’s inventory of 687 single family homes for sale in MLS and Maricopa which showed a slight increase in inventory.

Chandler, Gilbert, Fountain Hills, Paradise Valley & Scottsdale saw an increase in buyer activity this week.

For a complete inventory report for the Phoenix East Valley visit my Market Conditions Report  page.

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For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite.

Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

Search the Arizona MLS   Search the White Mountain MLS