Blog Archives

Is the Phoenix Area the Most Popular?

Acording to RisMedia (the self-proclaimed leader in real estate information systems), the Phoenix area is the nation’s most popular city for home hunters in 2009. The figures come from ZipRealty, a national brokerage firm, as reported in an article you can read at www.rismedia.com. Zip Realty produces a Home Hunter Report, which measures the volume […]

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Lenders Aren’t Moving REOs

In an earlier blog, I wrote about the inability of lenders that had completed foreclosures to timely put those homes back on the market. Under ordinary circumstances, a bank will put a “real estate owned” (or REO) home back on the market as soon as possible – often in 30 days. But only some of […]

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New Real Estate Facts and Figures

Year end facts and figures concerning Arizona real estate: Existing home sales showed a healthy gain in November – sales were the highest for that month since 2004! Experts say that was the result of a rush to close before the then expected end of the month expiration of the buyer tax credit (see my […]

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The New Tax Credit – Not Limited to First Time Buyers

The $8,000 tax credit scheduled to expire November 30, 2009 has been extended. Now a purchase agreement can be entered into up to May 1, 2010, as long as the transaction closes no later than July 1, 2010. It continues to cover first time home buyers, but has also been extended to include certain existing […]

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Canada’s Economy is Going South, Part 2

In an earlier blog, I detailed that Canada recorded its first ever surplus in bilateral direct investment with the U.S. last year. Direct Canadian investment in the United States was $17.1 billion greater last year than U.S. direct investment in Canada in 2008. This amount includes Canadian amounts used to purchase goods, materials, and businesses […]

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The Rules have Changed – Frustration in a Buyers’ Market (Part 1)

Arizona’s residential real estate market is schizophrenic right now – a dichotomy of healthy sales in some segments versus years on the market in others. The good news is that lower sale prices overall have allowed buyers once priced out of the market to enter the fray. The bad news is that the buying process […]

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The Rules have Changed – Frustration in a Buyers’ Market (Part 2)

The buying process should be easy, right? A seller should be desperate to unload their devalued property in this market, so buyers should get what they want quickly. In some parts of the metropolitan Phoenix and Scottsdale market, this can be true. But in those areas where there is significant buyer interest, buyers have found […]

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How does Arizona Rate – Nationwide Foreclosure Rankings

Although there are monthly variations in the number of foreclosures around the country, it is usually not difficult to figure which states will be the leaders. Arizona continues to rank in the top three, but there are a few surprises in the national distressed sale numbers. In mid-March, the top ten states with the highest […]

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Positive Lending News at Last!

Good news on the lender front. First, HUD has reinstated the higher limits on FHA loans that expired 1/1/09. The limit for this government guaranteed loan was $346,250 last year for a single family home. But on 12/31/08, that amount lowered to $271,150.00. The impact of the decrease would have been less lending options and […]

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Are There Foreclosures in Scottsdale?

Long largely immune from the fluctuations in the greater Phoenix market, Scottsdale has not been able to avoid the current adverse conditions. At one time the opinion that homeowners in the “Beverly Hills” of Arizona would lose property by foreclosure in significant quantities would have been laughed at. Fortunately the decline in values in Scottsdale […]

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