Phoenix Property Inventories are Decreasing!
We are seeing Phoenix and surrounding areas supply of home decreasing. Pending sales have picked up significantly, which means our closed sales will reflect that in March. Welcome news for everyone.
We used to consider a normal housing inventory in our market as one with 6 month supply and just recently were up to 11-12 month supply in Phoenix and over 2 years in Scottsdale with Paradise Valley running a close second. Phoenix is now looking at a 6 ¾ month supply- very nice. South East Valley is looking at 7 and ¾ months housing inventory- still nice, and overall market supply is at 8 and ½ months. Maybe our Phoenix realtors can entertain a light at this end of this very long tunnel. Scottsdale from 750 up and Paradise Valley luxury homes are still way up there but hopefully is this Housing market actually does continue to move, we will create motion in that sector as well.
Phoenix property supply was down 3%, West Valley 1% and the overall market supply was down 2%. Let’s hope the news media can find this interesting enough to report to the public along with all the foreclosure signs they display on the screen. I am so into some positive news.
Showing posts with label housing available. Show all posts
Showing posts with label housing available. Show all posts
Saturday, February 21, 2009
Thursday, February 5, 2009
Relocating To Phoenix, Scottsdale or Glendale Arizona
Phoenix Property – A Sunshine Filled Destiny
Whether you are relocating because of business, or just looking for a new home, Phoenix Arizona is a state filled with sunshine, fun and abundant living. If you are looking for real estate, our professional agents will help you find the house of your dreams – a place you will love to call home. We are the top pick when it comes to realtors who care, and truly want to help you make the right choice for your family.
If you are looking for homes for sale, or to sell properties you own, let us assist you. We will help make the process as seamless as possible! Our agents are professional and caring, with their top priority being your satisfaction. Our number one goal is to help people get the results they are looking for, whether it be buying the perfect home or selling the one you currently have.
Why should you choose Phoenix as your home? There are countless reasons. Along with being the 5th largest city in the country, Phoenix boasts many other attractions. Abundant golfing resources, beautiful sunshine most of the year, museums and restaurants for every taste are just a few of the reasons people love this city. The kids will love Castles and Coasters – this popular amusement park will fill their need for excitement!
Investing in Phoenix property is a smart choice, not only because of the huge amount of activities available in the city, but because of the constant growth as well. Our agents not only work to help you buy or sell a property, they also familiarize you with the town if you are a buyer. Your children's safety is more than likely your number one concern, and our real estate agents provide you with the information you need to feel confident about the education of your children. Neighborhood reports and demographics are also available for your perusal.
Having an experienced and knowledgeable agent whether your are buying or selling real estate is important. High caliber professionals will assist you with all of your needs, and make your transactions a breeze. Purchasing a home or selling real estate is much easier when you have an agent who is committed to you and your family. The best realtors join together as a team, so that someone is always available for your questions or needs.
If you are in the market for a house, Phoenix realtors have some of the most beautiful and affordable homes for sale that you will find anywhere. With the attractions the city boasts and the gorgeous weather nearly year round, this is the little piece of Heaven you've been searching for for your family. Phoenix property is unlike any other you will ever experience!
An established realtor will give you access to the sold market value of other homes with the same criteria in the Phoenix area. This helps you make an informed decision on what to offer for the property, and that the price you will pay is fair. Have you ever known someone who paid an exorbitant amount for real estate? We all have – but it doesn't have to be that way.
Are you in the market to purchase or sell properties? Phoenix is the place to be. Be sure to find a reputable real estate company that has an excellent reputation for client service and customer care. After all, it is your money and your family's happiness that's at stake!
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
Whether you are relocating because of business, or just looking for a new home, Phoenix Arizona is a state filled with sunshine, fun and abundant living. If you are looking for real estate, our professional agents will help you find the house of your dreams – a place you will love to call home. We are the top pick when it comes to realtors who care, and truly want to help you make the right choice for your family.
If you are looking for homes for sale, or to sell properties you own, let us assist you. We will help make the process as seamless as possible! Our agents are professional and caring, with their top priority being your satisfaction. Our number one goal is to help people get the results they are looking for, whether it be buying the perfect home or selling the one you currently have.
Why should you choose Phoenix as your home? There are countless reasons. Along with being the 5th largest city in the country, Phoenix boasts many other attractions. Abundant golfing resources, beautiful sunshine most of the year, museums and restaurants for every taste are just a few of the reasons people love this city. The kids will love Castles and Coasters – this popular amusement park will fill their need for excitement!
Investing in Phoenix property is a smart choice, not only because of the huge amount of activities available in the city, but because of the constant growth as well. Our agents not only work to help you buy or sell a property, they also familiarize you with the town if you are a buyer. Your children's safety is more than likely your number one concern, and our real estate agents provide you with the information you need to feel confident about the education of your children. Neighborhood reports and demographics are also available for your perusal.
Having an experienced and knowledgeable agent whether your are buying or selling real estate is important. High caliber professionals will assist you with all of your needs, and make your transactions a breeze. Purchasing a home or selling real estate is much easier when you have an agent who is committed to you and your family. The best realtors join together as a team, so that someone is always available for your questions or needs.
If you are in the market for a house, Phoenix realtors have some of the most beautiful and affordable homes for sale that you will find anywhere. With the attractions the city boasts and the gorgeous weather nearly year round, this is the little piece of Heaven you've been searching for for your family. Phoenix property is unlike any other you will ever experience!
An established realtor will give you access to the sold market value of other homes with the same criteria in the Phoenix area. This helps you make an informed decision on what to offer for the property, and that the price you will pay is fair. Have you ever known someone who paid an exorbitant amount for real estate? We all have – but it doesn't have to be that way.
Are you in the market to purchase or sell properties? Phoenix is the place to be. Be sure to find a reputable real estate company that has an excellent reputation for client service and customer care. After all, it is your money and your family's happiness that's at stake!
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
Sunday, January 11, 2009
Multi Unit Loan Alternatives
In a difficult loan enviroment for investors buying and investors wanting to transfer ownership of a multi unit these days here are possibile alternatives. You can produce creative alternatives and stay in compliance with the lenders and all legal responsibiltes.
Loan Workouts / Modifications / Assumptions – It may be possible to structure sales based on a negotiated agreement with the existing lender. New financing may not be a viable option in the current market. The following points may be considered:
Negotiation with lender – In many cases, the borrower / property owner is not the best person to conduct negotiations with the lender. A qualified real estate broker, mortgage broker or attorney may be best suited to represent the borrower. I am available to work with you and your client to present the best case to support a loan workout or modification based on current market conditions.
Loan Assumption / Modification – A new buyer may agree to assume personal liability and to reduce the principal balance in return for a reduction in the interest rate, a short-term period of interest-only payments, or other loan modification as part of a property acquisition negotiation.
Seller Carryback – The current owner may structure a carryback (subordinate financing) as an incentive for the buyer to complete the transaction. A carryback reduces the cash equity required from a buyer to close a purchase transaction, while enabling the seller to create an income producing promissory note secured by a deed of trust
Loan Workouts / Modifications / Assumptions – It may be possible to structure sales based on a negotiated agreement with the existing lender. New financing may not be a viable option in the current market. The following points may be considered:
Negotiation with lender – In many cases, the borrower / property owner is not the best person to conduct negotiations with the lender. A qualified real estate broker, mortgage broker or attorney may be best suited to represent the borrower. I am available to work with you and your client to present the best case to support a loan workout or modification based on current market conditions.
Loan Assumption / Modification – A new buyer may agree to assume personal liability and to reduce the principal balance in return for a reduction in the interest rate, a short-term period of interest-only payments, or other loan modification as part of a property acquisition negotiation.
Seller Carryback – The current owner may structure a carryback (subordinate financing) as an incentive for the buyer to complete the transaction. A carryback reduces the cash equity required from a buyer to close a purchase transaction, while enabling the seller to create an income producing promissory note secured by a deed of trust
Housing inventory updates in Phoenix & Area Arizona
The good news is that our sales pace and inventory levels continue to stay fairly steady. Inventory levels dropped nearly 4% over the New Year and closings picked up to give us a market supply of 8 3/4 months, nearly twice as many as 1 year ago when we were sitting at 15 3/4 months.You do have to take into account that historically good or bad market housing inventory always drops over the holidays. People don't like to put their property on the market during those times when they are busy with everything else and if their house is ever going to look like a disaster, that would be the time. All of us here at Cactus Country know if we could get some loans available to qualified people, our closing numbers would be so much higher and our inventory that much lower which would definitely stimulate some movement in the market. We can have the lowest interest rates, which seems to be the case right now but if the bank isn't going to lend, it does absolutely nothing for us. If you are positioned right for your financing, there are some excellent deals out there.
The Realtor calls are on the increase and the potential listings call have really increased this past week.
The Realtor calls are on the increase and the potential listings call have really increased this past week.
Friday, February 15, 2008
Weekly House Inventory Level in Phoenix AZ and area
Weekly Inventory Level comparison
As of Friday, 2/8/08
Total homes available for sale increased by 369, or about 1% over last week. Current rate of closings remains low due to the fact that it is reflecting activity from the end of the year. Closes in the previous month were 2405 which gives us a supply of 19 months, a slight improvement over last week
Current Pendings continue to increase. The good news is these are at the highest level that I have seen since last August PM (Pre-Meltdown). This should translate in to more closings in the next month.
Best market in the Valley continues to be the SE area at 16 months supply and next is Scottsdale under $1M at 16 3/4 months.
The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.
Entire MLS (Maricopa and Northern Pinal county), listing inventories are up 1% from last week. Total of 45783 active listings. Based on current rate of closings, about a 19 month supply.
200’s area (Central Phoenix). Listing inventories are up 1% from last week. Total of 6446 active listings. About a 20 1/2 month supply.
300’s area (West Valley). Listing inventories are unchanged from last week. Total of 15156 active listings. About a 20 1/4 month supply.
400’s area (NE Valley), Listing inventories are up 2% from last week. Total of 7708 active listings. About a 20 3/4 month supply.
500’s area (SE Valley), Listing inventories are up 1% from last week. Total of 11447 active listings. About a 16 month supply.
Scottsdale over $1m. Listings inventories are up 1% from last week.
Total of 1622 active listings. About a 40 1/2 month supply.
Scottsdale under $1m. Listing inventories are up 2% from last week. Total of 2613 active listings. About a 16 3/4 month supply.
Paradise Valley. Listing inventories are up 1% from last week. Total of 426 active listings. About a 38 3/4 month supply.
I hope this information is useful to you.
As of Friday, 2/8/08
Total homes available for sale increased by 369, or about 1% over last week. Current rate of closings remains low due to the fact that it is reflecting activity from the end of the year. Closes in the previous month were 2405 which gives us a supply of 19 months, a slight improvement over last week
Current Pendings continue to increase. The good news is these are at the highest level that I have seen since last August PM (Pre-Meltdown). This should translate in to more closings in the next month.
Best market in the Valley continues to be the SE area at 16 months supply and next is Scottsdale under $1M at 16 3/4 months.
The comparison of current active listing change is based on the previous week’s inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.
Entire MLS (Maricopa and Northern Pinal county), listing inventories are up 1% from last week. Total of 45783 active listings. Based on current rate of closings, about a 19 month supply.
200’s area (Central Phoenix). Listing inventories are up 1% from last week. Total of 6446 active listings. About a 20 1/2 month supply.
300’s area (West Valley). Listing inventories are unchanged from last week. Total of 15156 active listings. About a 20 1/4 month supply.
400’s area (NE Valley), Listing inventories are up 2% from last week. Total of 7708 active listings. About a 20 3/4 month supply.
500’s area (SE Valley), Listing inventories are up 1% from last week. Total of 11447 active listings. About a 16 month supply.
Scottsdale over $1m. Listings inventories are up 1% from last week.
Total of 1622 active listings. About a 40 1/2 month supply.
Scottsdale under $1m. Listing inventories are up 2% from last week. Total of 2613 active listings. About a 16 3/4 month supply.
Paradise Valley. Listing inventories are up 1% from last week. Total of 426 active listings. About a 38 3/4 month supply.
I hope this information is useful to you.
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