Recent Posts: Real Estate Facts & Figures

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Phoenix Adds the Most Jobs.

The Phoenix area added 13,200 construction jobs during the 12-month period that ended in June, an 11% jump. The figures come from Associated General Contractors of America, which analyzed federal data for jobs in construction. Those numbers show that the Phoenix market added more building jobs than any other market in the U.S. during that […]

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Phoenix Real Estate Rocks!

May 2019 was a record-setting month for home sales in the Phoenix metro area. New all-time records were established for both sales volume and total dollar volume , as well as for the number of homes sold and the most money spent. The monthly median sales price set a record high reaching $278,000. That means […]

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Property Investment Basics, Part 3.

Capitalization. When evaluating the worth of an income property based on the value of the income produced, a capitalization rate is applied to the net income. A “Cap” rate is determined by a study of various economic factors, including the returns on other investments, taking into account mortgage, equity components, and risk. That rate of […]

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Obscure Arizona Real Estate Laws.

Did you know that Arizona has a law that limits the amount of land one person may purchase? If buying land from the State, A.R.S. §37-240 states that no person may purchase more than 640 acres of grazing land, or more than 160 acres of agricultural land. Since most State land sales are in urban […]

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Property Investment Basics, Part 2.

Present Value. A fundamental concept in real estate investing is that a dollar today is worth more than a dollar in the future. Therefore a “discount rate” is used to determine the present value of an income stream. In computing the present value of a dollar, the discount factor is the value today of a […]

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Property Investment Basics, Part 1.

The return on investment in income property is tied to two basic economic components: the annual net income it produces, plus the proceeds of refinancing or sale. Therefore the total return on a real property asset is a combination of annual returns and the final payoff from sale of the asset. The first step in […]

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Where did Trusts Originate?

The modern Anglo-American trust is a unique legal device. In the U.S. we use trusts as methods to hold and convey property, often to heirs as an estate planning device. There are a couple of theories concerning the origin of the trust, with the latest being that the trust may actually be traceable to an […]

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Colorado Legalizes Rain Barrels.

Until recently it was believed to be illegal to connect a down spout to a rain barrel in most urban areas in Colorado. Rain barrels are a great way to collect our periodic rainfall for garden use – I have three with 40 gallons capacity each. The problem in Colorado was an interpretation of the […]

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Arizona’s Homestead Exemption.

Arizona’s homestead exemption allows a person to protect from certain creditors up to $150,000 of the equity in the home they live in (house, condominium, or mobile home). It applies only to non-consensual liens. A non-consensual lien is one which arises from a recorded money judgment. For example, a judgment that arises because the owner […]

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Buy Don’t Rent!

The latest Rent vs. Buy Report from Trulia shows that home ownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. This includes Phoenix, which is in the top 10 in size. These numbers show that the average range is 26.3% less expensive […]

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Where have all Canadians Gone?

April of 2018 saw the lowest number of sales of metro Phoenix area homes to Canadian buyers since 2009. Canadian sales peaked in April of 2011, but since then the declining Canadian dollar and our healthy real estate market has taken a toll. As a result, more Canadians have sold homes than bought here every […]

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Median Can be Misleading.

Housing price stats are often given through a “median price.” A median price is that which is right in the middle, so that half of the homes sold were priced more and the other half less. But they can be distorted by sales of homes at the fringes of the market – by the amount […]

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Condo Sales Soar.

New condo sales in the Phoenix metro area were up 57% last year over 2016, setting a yearly record. Resales were also up 12%. This reflects the popularity of this style of housing choice and the affordability of condos – as increases in value of single family homes have priced many people out of that […]

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Baby Boomers Love Arizona.

Arizona ranked second behind Florida for drawing the most people over 60, according to personal finance firm Smartasset. It analyzed the latest Census data from 2015 and found Arizona grew by 27,576 retirees. It also attributed the state’s low property taxes to the trend. Mesa topped the list for U.S. cities with the most new […]

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85016 Market Snapshot.

The SimplySOLD™ office is located in Phoenix’s 85016 zip code, an area we have a lot of experience in. According to housing data provided by HouseCanary, in 85016 there were 162 total listings on the market last month – compared to 152 total listings last year during the same time period. Total homes sold in […]

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