Phoenix Real Estate Market Update – It’s a Buyer Frenzy!

The Phoenix real estate market is in a buyer frenzy early in the season due to low inventory in the most active price ranges. For Buyers: Buyers continue to find themselves in a frenzy of competition for homes as March recorded the highest number of non-distressed sales through the MLS since September 2005.  Supply has dropped a significant 12.7% overall compared to this time last year. That's a whopping 22% drop  in the Southeast Valley and 27% in Pinal County! Despite the extreme lack of supply under $300K, 30% of closings in this price range are showing some form of seller-paid concession at close.  Compare this to 27% in March of … [Read more...]

What Does It Take To Buy A House In Phoenix?

I don't know if you knew this, but it takes $4,000,000,000,000 to buy a cheap, dilapidated home in Phoenix. Do you have that in your bank account right now? I mean, everyone else does, why not you? JUST KIDDING. Seriously though, it does take some money to buy a home. (Key word here: "Buy") Here are three things you need to get your butt in gear: 1) Cash 2) Credit 3) Compensation Cash  What is cash? Well, it grows on trees, of course! But only in my fairytale books which I sold at a garage sale 20 years ago. (Sorry.) If you have a cash-money-honey tree then nobody cares who you are, what you look like, who or what … [Read more...]

We Need Listings! #NotABubble

Come on already! Why are you hording your own house? Put it on the market already! Don't get cast in that hypothetical TV show, "House Horders"! (Is this a show already? I'm not sure. I would probably watch it.) Weather-wise, it's becoming an early spring, and it's the perfect time to begin selling your home! Yet as you can see by my trusty chart in my video, house inventory is as flat as a pancake. Everyone in the Milky Way is moving to Phoenix, and why wouldn't they move here? We have sunshine and happiness all year round. There's no digging yourself out of snow, mud, or other kind of natural disaster. (I can't guarantee you won't … [Read more...]

Buying a House and Selling a House — At the Same Time?

How the heck do you buy AND sell a house AT THE SAME TIME? Argh! It's REALLY stressful! ...Or is it? Here are some important tips on how to make buying and selling a house at the same time go a whole heck of a lot smoother. You might even feel much more prepared! Wow! First and foremost: Start packing I mean, do you even know how long it takes to pack up your life? I know someone moving from a tiny duplex, and it's still going to take her almost a month to pack, have a garage sale, sell stuff on eBay, give it away, whatever it is she needs to do to get herself packed and moved out of there. Additionally, buying and … [Read more...]

What’s the Easiest Way to Invest in Real Estate?

A friend of mine recently asked me about investing in a REIT, which is a Real Estate Investment Trust. There's been a lot of them poppin' up over the last 15 to 20 years - especially online. This particular one that she was looking at had $1,000 minimum. My friend asked, "I don't have the $1,000 now, but if I did is this a good idea?" The online REIT that she's looking at is so super-hipster right now too (because my friend who asked is also a hipster). The site talks about crowd-sourcing and how you can become a real estate mogul just like everyone else! It's real sexy, amazing, gnarly, yadda yadda yadda. A lot of REITs invest in … [Read more...]

Buying Real Estate the Smart Way in a Tight Economy

Ok, so as mentioned in my previous blog, we are due for another recession. Every 5 years, a recession occurs. We haven't had a recession in 7.5 years. Yikes! So it's time to tighten up the proverbial expenditure belt. And you might be thinking, "Well, crud, I wanted to finally buy a house this year!" NEWS FLASH: The #1 reason to buy a house is NOT, "Oh, it's not a recession right now -- Let's buy a house!" There are actually some very good reasons to buy a house right now. Reason #1 Interest rates are still really, really low. Even in the fours, they're still historically low. I mean, they may not be this low again when they … [Read more...]

Happy New Year 2017 – Looking Ahead in Phoenix Real Estate

We have spent 7.5 years in an awesome growth period as a country. On the flip side, this makes us well overdue for a little recession. That's pretty amazing though - considering we've come a long way from foreclosure and losing our homes back in 2008. The interesting thing about being overdue for a recession is this: It's kind of like being overdue for a major earthquake in Los Angeles - except a tiny recession is much more likely to happen yet won't leave your life in shambles. This mini-recession will not be anywhere near as bad as 2008. We won't have to rebuild an entire city, or country, for that matter.   Here are … [Read more...]

Big Box Banks vs. Local Mortgage Banker

Does it really matter who you choose to do your mortgage? Can't you just go down to any ho-hum bank and get a home loan? Or call that spammy 1-800 number (that is most likely a sex hotline) you got from a quick Google search? Yes, it matters! And it’s a big FLIPPIN’ deal! You might be thinking, “Big Box is the way to go because I like everything BIG, GINORMOUS, and boxy—Texas-style!” (Remember that hit song, I'm Boxy and I Know It? LMAO!) But visit any realtor-infused happy hour and you will understand why realtors start breaking out in a cold sweat when they see a pre-qualification from 1-800-Big Box Walmart Wannabe Bank. When you … [Read more...]

What’s the Easiest Way to Invest in Real Estate?

A friend of mine recently asked my opinion about a REIT - Real Estate Investment Trust. You know, those sexy crowd-sourcing ventures where you pool you money with other mogul wannabes and buy retail shops, apartment buildings and office complexes and just watch the cash flow into you pockets. Sort of. Actually, the fund managers do all the work,collecting rents from the tenants and paying the investors dividends when they make a profit. Of course, you know what happens if there is not profit, right? Let's say you have $1000 laying around and you wanted to invest in real estate? Is the REIT the best way to go? Maybe. But before you join the … [Read more...]

The Elusive Tiny Home Near Downtown Mesa

I have heard from several folks over the last week or so who are looking for a tiny home near Downtown Mesa so they can be a part the awesome Main Street community. And it's a good time to get in while the getting is good.  A home near Downtown Mesa, within walking distance of the Light Rail, essentially put you within walking distance to Tempe and Phoenix, while enjoying the funky, artsy vibe that Main Street in Mesa offers. If you haven't been downtown lately, check it out. There is so much going on! OK, it's still a little sleepy, but there aren't many places around anymore where the bartender knows your name, where the cook knows … [Read more...]