PHOENIX PROPERTY CLOSING RATE CLIMBS DRAMATICALLY AS THE AVAILABILITY OF HOMES SEES HUGE DECLINE
Real Estate Weekly Inventory Level Comparison
As of Friday, February 27th, 2009.
Dramatic changes are beginning to take place in our market. The availability of Single Family Detached homes is decreasing, with a drop below 40,000 this week to 39,828. This fact, combined with previous months closings at 5907, left the market supply at 6 3/4 months.
We haven't seen numbers below 40,000 for Single Family Detached homes for sale since March of 2007. May of the same year is the last time we had over 5,900 closings.
There have been no pending sales over the 10,000 mark since June of 2005.
If you read newspapers to keep up with current real estate market conditions, doesn’t it make you wonder where these facts have been misplaced?
Phoenix continues to hold its place as the best market in the Valley presently, at 5 1/4 months. Following are the West Valley at 6 months, and SE Valley at 6 1/2 months.
Sales are still slow in higher end properties, due to the nearly non-existence of realistic financing above conforming amounts of $417,000.
MLS Statistics
Breakdown by Area
Overall Market. Inventories are down 2% from last week. Total of 39828 active listings with 5907 closings in the last month. About an 6 3/4 month supply.
Phoenix. Inventories are down 2% from last week. Total of 9140 active listings with 1753 closings in the last month. About a 5 1/4 month supply.
West Valley. Inventories are down 3% from last week. Total of 10064 active listings with 1675 closings in the last month. About a 6 month supply.
NE Valley.
Inventories are unchanged from last week. Total of 5728 active listings with 328 closings in the last month. About a 17 1/2 month supply.
SE Valley. Inventories are down 3% from last week. Total of 9000 active listings with 1446 closings in the last month. About a 6 1/4 month supply.
Scottsdale over $1m. Inventories are unchanged from last week. Total of 1497 active listings with 34 closings in the last month. About a 44 month supply.
Scottsdale under $1m. Inventories are down 1% from last week. Total of 2491 active listings with 204 closes in the last month. About a 12 1/4 month supply.
ParadiseValley. Inventories are down 1% from last week. Total of 562 active listings wih 15 closes in the last month. About a 37 1/2 month supply.
Showing posts with label housing sales and closings Phoenix and area. Show all posts
Showing posts with label housing sales and closings Phoenix and area. Show all posts
Sunday, March 8, 2009
Thursday, March 5, 2009
Property - Whether Your are Buying or Selling, Glendale Realtors Can Help
Whether you are wanting to buy or sell property in the Glendale, Arizona area, professional real estate agents can be invaluable. You want to buy a home or land at the best price possible, especially during these tough economic times. If you are selling, you want a lucrative profit. This article will explain how an Arizona realtor can help you get results in either case.
Tell the truth - you've seen agents that were out to make a quick commission, and didn't truly care about the outcome for the client. What you want is someone who cares, and is passionate about getting the results you desire. Personal attention is crucial when you are talking about what is perhaps the largest investment of your life.
If you are looking for real estate or property in the Glendale area, you want detailed information about the area. You need the sold market values of comparable homes in the area you are considering, so that you can make a fair offer. Schools and area safety are also important to you. You want a "feel" for the area you may be calling home. When you choose a competent Glendale real estate agent, you get a trained and qualified agent who truly cares about your needs.
If real estate investing is your interest, you want a realtor that will search for properties that meet your criteria. Many people make a living investing in real estate, and finding properties that will be profitable for you in the future is essential to your success. You need a realtor who is experienced in this area, and knows how to find the types of property you are searching for.
Now, what about selling? Selling homes and property has become a little more difficult recently, due to the economy. Should that stop you if you are wanting to sell? Absolutely not! When you choose a Glendale realtor that knows their business and what it takes to get the results you want, your house or property will sell - and they will work hard to get the highest return possible on your investment.
Buying or selling, you need a real estate agent that is a tough negotiator, and willing to handle all of the stress so that you don't have to. A reputable realtor will handle your business from beginning to end, making sure that you are satisfied with the outcome. Getting the results that clients want is what being a compassionate real estate agent is all about.
Are you considering buying or selling real estate in the Glendale Arizona area? Make sure you find the best realtor for the job. It will make the difference in whether you get so-so results, or results that are exactly what you were looking for!
Tell the truth - you've seen agents that were out to make a quick commission, and didn't truly care about the outcome for the client. What you want is someone who cares, and is passionate about getting the results you desire. Personal attention is crucial when you are talking about what is perhaps the largest investment of your life.
If you are looking for real estate or property in the Glendale area, you want detailed information about the area. You need the sold market values of comparable homes in the area you are considering, so that you can make a fair offer. Schools and area safety are also important to you. You want a "feel" for the area you may be calling home. When you choose a competent Glendale real estate agent, you get a trained and qualified agent who truly cares about your needs.
If real estate investing is your interest, you want a realtor that will search for properties that meet your criteria. Many people make a living investing in real estate, and finding properties that will be profitable for you in the future is essential to your success. You need a realtor who is experienced in this area, and knows how to find the types of property you are searching for.
Now, what about selling? Selling homes and property has become a little more difficult recently, due to the economy. Should that stop you if you are wanting to sell? Absolutely not! When you choose a Glendale realtor that knows their business and what it takes to get the results you want, your house or property will sell - and they will work hard to get the highest return possible on your investment.
Buying or selling, you need a real estate agent that is a tough negotiator, and willing to handle all of the stress so that you don't have to. A reputable realtor will handle your business from beginning to end, making sure that you are satisfied with the outcome. Getting the results that clients want is what being a compassionate real estate agent is all about.
Are you considering buying or selling real estate in the Glendale Arizona area? Make sure you find the best realtor for the job. It will make the difference in whether you get so-so results, or results that are exactly what you were looking for!
Friday, January 23, 2009
Advantages of Investing in Multi Units
After reading this article and knowing the market place for these units.I decided to publish it. Real Estate in Phoenix Arizona is at the lowest in many years and the multi units are definitely at the lowest. Loans are difficult to obtain for them but they are still out there and with interest rates at their lowest in 37 years, you can afford to take a bit of a hit on the interest rate considering you are also buying at bargain prices.Multi units in Phoenix, Scottsdale, Glendale and surrounding areas are there for the picking.
Advantages Of Investing In Multi Units
By: Charles P.
Submitted: 08:46AM on Tuesday 13 January 2009
The author has permitted the reprinting and redistribution of this article.
See our Terms of Use for more information on reproducing it.
Usually the investors believe that buying single-home units will get them a good foothold in this particular field and they don’t have to invest a huge amount. This is outright a misconception. In a multi-unit investment, you can find more tenants and better cash flow compared to single units or homes. This, in turn, helps to pay off the mortgage on the buildings much faster. And the money which is contributed by the people for the maintenance work helps to take care of the maintenance in an easier way. As the payments made by the tenants every month come to a big amount it always gives you an opportunity to use the leftover money for reinvestment. Thus, it is better to create a strategy and contract a multi-unit property meant for many people. If you are able to increase the number of your multi-unit properties your level of income will rise and you can afford to hire the services of home management companies so your properties are well taken care of. Compared to buying individual family houses, buying multi-apartment houses seems to be more profitable from the point of view of retail, lease as well as wholesale.
There are further advantages of investing in multi-units, which will convince you better why investing in multi-units is one of the best options compared to investment in single units.
Higher cash inflow: When you invest in multi-units you are able to get an access to various streams of potential income instead of just one. Let’s take an example of a 60-unit apartment community or society where you have your occupancy on almost all the sixty units and you earn sixty times more than you could have earned from a single family home. Even if you have only 50 percent occupancy you would still make more than you would have done with single-unit investments.
Services from home management companies: Investing in multi-units will require recruiting someone to manage your property. There are a large number of home management companies that are always ready to respond to your request for maintenance and repair. They can prove to be helpful in getting new renters and can as well help you expel those who don’t pay rent. In this way you can save time and money as well.
Higher profit from selling: Those who invest in multi-units are usually on the lookout for potential buyers to make higher profits. You may not find buyers so easily but when you succeed in finding one you stand to earn a good amount of money. Even if the property gives you only a 10 % margin you will make more money compared to selling a smaller property.
Maintenance at a single location: When you invest in multi-units you have the advantage of maintaining your property at one location. This could prove to be really advantageous when you are to manage the property single-handedly. On the contrary, when you purchase ten single units at ten different locations you will have to do quite a bit of running around to look after each property. Naturally, it will be a pretty tiresome job. Moreover, by investing in multi-units, you will find all your tenants at one place. You don’t have to move frequently from here to there to answer all your tenants' requests.
So, if you are a smart real estate investor, invest in multi-units and make them part of your investment portfolio.
Advantages Of Investing In Multi Units
By: Charles P.
Submitted: 08:46AM on Tuesday 13 January 2009
The author has permitted the reprinting and redistribution of this article.
See our Terms of Use for more information on reproducing it.
Usually the investors believe that buying single-home units will get them a good foothold in this particular field and they don’t have to invest a huge amount. This is outright a misconception. In a multi-unit investment, you can find more tenants and better cash flow compared to single units or homes. This, in turn, helps to pay off the mortgage on the buildings much faster. And the money which is contributed by the people for the maintenance work helps to take care of the maintenance in an easier way. As the payments made by the tenants every month come to a big amount it always gives you an opportunity to use the leftover money for reinvestment. Thus, it is better to create a strategy and contract a multi-unit property meant for many people. If you are able to increase the number of your multi-unit properties your level of income will rise and you can afford to hire the services of home management companies so your properties are well taken care of. Compared to buying individual family houses, buying multi-apartment houses seems to be more profitable from the point of view of retail, lease as well as wholesale.
There are further advantages of investing in multi-units, which will convince you better why investing in multi-units is one of the best options compared to investment in single units.
Higher cash inflow: When you invest in multi-units you are able to get an access to various streams of potential income instead of just one. Let’s take an example of a 60-unit apartment community or society where you have your occupancy on almost all the sixty units and you earn sixty times more than you could have earned from a single family home. Even if you have only 50 percent occupancy you would still make more than you would have done with single-unit investments.
Services from home management companies: Investing in multi-units will require recruiting someone to manage your property. There are a large number of home management companies that are always ready to respond to your request for maintenance and repair. They can prove to be helpful in getting new renters and can as well help you expel those who don’t pay rent. In this way you can save time and money as well.
Higher profit from selling: Those who invest in multi-units are usually on the lookout for potential buyers to make higher profits. You may not find buyers so easily but when you succeed in finding one you stand to earn a good amount of money. Even if the property gives you only a 10 % margin you will make more money compared to selling a smaller property.
Maintenance at a single location: When you invest in multi-units you have the advantage of maintaining your property at one location. This could prove to be really advantageous when you are to manage the property single-handedly. On the contrary, when you purchase ten single units at ten different locations you will have to do quite a bit of running around to look after each property. Naturally, it will be a pretty tiresome job. Moreover, by investing in multi-units, you will find all your tenants at one place. You don’t have to move frequently from here to there to answer all your tenants' requests.
So, if you are a smart real estate investor, invest in multi-units and make them part of your investment portfolio.
Sunday, January 11, 2009
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.
Sunday, January 4, 2009
Happy New Year and a Very Prosperous One
It will be interesting, I'm sure when we look back a year from now and see where we went and how many turns we took getting there.
Lets all hope that we get the banks to loosen up some money for credible, eligible people to get loans. We are at a 37 year low for interest rates. That's a great way to start off 2009. All we need is the banks to give up the money so we can take advantage of these rates. First time homeowners have a wonderful opportunity here and Realtors have to be searching out that client base that went on the back burner November 1 when the ability to use down payment assistance went away along with the strict lending guidelines that stayed constant. I bet those lists are coming out of files and being checked twice. Low interest, low prices and still be able to get seller assistance on closing costs just not down payment could produce some very positive results. As we all know a little movement at the lower level and it all moves.
Happy New Year
Lets all hope that we get the banks to loosen up some money for credible, eligible people to get loans. We are at a 37 year low for interest rates. That's a great way to start off 2009. All we need is the banks to give up the money so we can take advantage of these rates. First time homeowners have a wonderful opportunity here and Realtors have to be searching out that client base that went on the back burner November 1 when the ability to use down payment assistance went away along with the strict lending guidelines that stayed constant. I bet those lists are coming out of files and being checked twice. Low interest, low prices and still be able to get seller assistance on closing costs just not down payment could produce some very positive results. As we all know a little movement at the lower level and it all moves.
Happy New Year
Sunday, December 14, 2008
Loan Modifications and Services
We had an office meeting last week and had a colleague come speak to us and introduce his new plan and business in modification. Avery is someone we have dealt with over the years for loans and I have relied on for investor advise in acquiring loans. One of the his assets is the ability to switch and adjust to make the transaction happen and this has followed him to his new venture.
He is not taking all loans but will look at everything. If he takes on the loan modification, he will guarantee it , You pay him 1900 dollars up front and if he can't get it done he refunds the entire amount and this is in writing. He has attorneys in his network if he has to act quickly to stop a foreclosure. Of interest too is that he is investigating and researching honest, successful credit repair companies to possible be part of his package or at least network. It makes so much sense. If you need a loan modification, you are probably needing a credit repair as well. You might want to visit him at http://www.wefixuglyloans.net/.
He is not taking all loans but will look at everything. If he takes on the loan modification, he will guarantee it , You pay him 1900 dollars up front and if he can't get it done he refunds the entire amount and this is in writing. He has attorneys in his network if he has to act quickly to stop a foreclosure. Of interest too is that he is investigating and researching honest, successful credit repair companies to possible be part of his package or at least network. It makes so much sense. If you need a loan modification, you are probably needing a credit repair as well. You might want to visit him at http://www.wefixuglyloans.net/.
Tuesday, December 2, 2008
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