The History of Phoenix Real Estate (at least since 2005)

To celebrate 8 years in real estate, I present to you: The History of Phoenix Real Estate (since 2005). It's been quite a wild ride since I got my real estate license...let's catch up, shall we? For all practical purposes, our Phoenix real estate market has experience an economic disaster that is quite similar to a Category 5 hurricane. And much like New Orleans experienced with Hurricane Katrina, we have endured different phases of this experience. 2005: The Tasty Wave phase when everyone grabs a board and jumps in - regardless of any actual ability to surf or even swim 2006: The denial phase - oh, haw bad can it really get? 2007: The … [Read more...]

Phoenix Real Estate Market – May 2012 – INSANITY

The insanity is not just continuing, it's out of control. Inventory is still falling, prices are climbing, and tears are flowing as buyers suddenly realize the home-ownership train is leaving the station without them. Here are the cold hard numbers and a couple of survival tips for you! Kristin LaVanway Kristin@HereInPhoenix.com 480-282-7464 … [Read more...]

What’s Happening in Phoenix Real Estate – April 2012

Are We Really Running Out Of Houses? The real estate market in Phoenix continues to return to a more "normal state" whatever that means. Prices are edging up especially in price ranges below $250K, and inventory has dropped below the 2 month mark. Yikes! Think the shadow inventory is going to replenish the market - don't be so sure. However you look at it, we are going to be low on inventory for a while. Buyers: get over the fantasy that another big price drop is going to happen here in Phoenix. All signs point to higher prices. Good luck buyers and welcome back sellers!! … [Read more...]

Hey Listing Agents…Help Us Help You!

Have your people call my people Distressed property sales are a real pain in the backside. We all know the challenges associated with short sales, but REO property sales are often just as frustrating. Those of us out here in the trenches are constantly lamenting about the less than stellar services provided by REO listing agents. Some teams do an excellent job of liquidating REO properties. They provide fair consideration of our offers and consistent communication when servicing their listings. But other listers are not returning calls and emails, ignoring offers and raising some eyebrows in the management of their listings. The nature of … [Read more...]

The Great Tsunami of Foreclosures – Shake up or Shaky Ground?

We have been hearing about it for over a year - the great tsunami of foreclosures that the banks are hoarding that will eventually flood the market and tank our fledging recovery. But is this fact or fiction? Here's a look at the numbers here in Phoenix... … [Read more...]

Here in Phoenix Friday Morning News – 12-13-2009

A wrap-up of the Phoenix real estate market, brought to you by a couple of Lego people. This week: Inventory levels. … [Read more...]

The American Nightmare – Why More Homeowners are Walking Away

A recent article in the Wall Street Journal on Strategic Defaults caught my attention. The article discusses why more homeowners who find themselves underwater on the mortgage are making the decision that they are better off financially by defaulting on their mortgages and renting. Check out the entire article in the Wall Street Journal. … [Read more...]

How Trustee Sales Work (Part 1)

Over 4,600 homes were auctioned at Trustee Sale in Maricopa County over the last month. Here is an overview of how Trustee Sales work (first in a series), who is involved and which homes make it to the auction. … [Read more...]

Buying A Home – Stage 4 – Negotiating

Despite continued reports that buying a home in the Phoenix real estate market is like shopping at a swap meet, there are just not enough homes on the market to satisfy the demand. Competition can be fierce, especially for the choicest properties. Keep that in mind when you submit your offer... The inventory of homes in Phoenix has decreased by over 20% in just the last 3 months. Sales volume has increased by over 17% during that same 3 month period. Even as the number of foreclosures hitting the market has increased, buyer demand still exceeds the supply.  All these facts and figures become very important when you are putting in an offer … [Read more...]