AZFamilyLiving & Hunt Real Estate ERA
Real Estate Services in the Greater Phoenix Metro Areas of Chandler, Glbert, Tempe, Scottsdale, Mesa & Ahwatukee.
Tired of "Being Sold" some new product, or service day after day? Buying or selling property should not be that way. No one knows better what you want than YOU.
My approach to Real Estate is simple. You tell me the area of interest, and I provide you with the education, technology, and tools necessary to make an informed buying or selling decision. Only you, from your prospective, can know if it is time to make a move.
The market, controlled by the laws of supply and demand, determines the "Market Value" of a particular property. I will make sure you know and understand the market conditions in your area of interest.
I am a fulltime Realtor and operate my business as a business. I work diligently for my clients and respect my fiduciary responsibilities, as they are the foundation of our agent/client relationship. I take pride in the fact that over 90% of my business is referral. I operate on the belief that satisfied clients will continue to refer like quality clients.
I look forward to meeting with you to see how I can assist you in your next Real Estate transaction.
Greater Phoenix Metro Market Trend
- Active Inventory: 33,480 as of 11-16-2009.
- Non-Institutional Active Inventory: 20,101 as of 11-16-2009. Approximately 60% of total inventory.
- Bank Owned (REO) Active Inventory: Increased slightly to about 4,683 units as 11-16-2009. Up from 4,196 units on 10-10-2009.
- Short Sale/Pre-Foreclosure Active Inventory:Increased slightly to about 8,671 units as 11-16-2009. Up from 8,023 units on 10-10-2009.
- Contingent Contract & Sale Pending Inventory: 18,634 units as of 11-16-2009. Down from 19,406 units as of 10-10-2009.
Despite all the Fed policy interventions and slow response by Banks to resolve the high delinquency rate on mortgages, the market forces continue to slowly move back to a point of equilibrium. Though we are not there yet, we are moving that direction. Regular, or non-institutional home sales now (as of 11-16-2009) make up 60% of total active inventory. This is a very good sign. As institutional (REO, Short Sale etc.) inventory decreases it's footprint in the market, the true, unregulated housing transactions will become predominant allowing market forces to balance the housing market.
October market conditions are exactly opposite of what they where a year earlier in terms of supply and demand. The low supply of inventory available in the market is outpaced by the demand that we are seeing primarily at FHA loan levels of approximately $250K and below. This is why the median home price has begun to rise since April. As banks work to improve their efficiency in regards to getting foreclosed properties onto the market quicker, inventory levels will improve. Demand has shown slight signs of softening despite continuing low mortgage rates. The softening demand is typical of the holiday season. The extended homebuyer tax credit should help add to demand in the new year.
Short Sales, Foreclosures, Loan Modifications, & Deed in Lieu
Everyday I am asked about at least one of these subjects. A large majority of the presently "Active" inventory in the MLS falls under the Short Sale or Foreclosure categories. Short sale lingo usually includes such statements as short sale, or pre-foreclosure. Foreclosure lingo usually includes statements as foreclosed, bank owned, R.E.O. (real estate owned) property. All short sale and foreclosure properties will have the disclaimer "Sold AS-IS". So what exactly do these terms mean? Read More...
HomeBuyer Tax Credit
ALERT! The extended Homebuyer tax credit bill passed the House 403-12 in favor of the extension, and the Senate with a 98-0 approval. President Obama signed off on the bill Friday November 6, 2009. Read More
The homebuyer tax credit is one of 10 key provisions of the American Recovery and Reinvestment Act signed by President Obama into law on Feb. 17, 2009.
To see a comparison table showing the similarities and differences between the 2008, 2009, and 2009-2010 extended tax credit... Click Here...
Recent Change to Arizona's Anti-Deficiency Statute
SB 1271 passes house and senate. Govenor signs off as well. This bill amended A.R.S. § 33-814, the state Anti-Deficiency Statute. Investors of non-owner occupant homes are now subject to deficiency judgements in the event of short sale or foreclosure... Read More...
Yahoo! News Search Results for arizona real estate
- Real estate agents see return of foreign buyers (San Francisco Chronicle)
Canadian investor Arthur Wong is buying condos in Las Vegas and Phoenix like a shopper at Costco: In bulk, with slashed prices. Wong, president of Optimus U.S. Real Estate Fund, has bought 60 condos at heavy discounts from developers in financial trouble.... Real estate - Las Vegas Nevada - Canada - Costco - United States - Foreign investors eye U.S. real estate (The Monterey County Herald)
LAS VEGAS — Canadian investor Arthur Wong is buying condos in Las Vegas and Phoenix like a shopper at Costco: In bulk, with slashed prices. Wong, president of Optimus U.S. Real Estate Fund, has bought 60 condos at heavy discounts from developers in financial trouble. - Affordable Prices Draw Investors to Real Estate (RISMedia Real Estate News)
RISMEDIA, November 21, 2009—Affordable prices and foreclosures are attracting investors to the housing markets today, and the number of consumers interested in investing in real estate has doubled since March 2009, according to the new Move.com Homeownership Survey recently released. Low prices and foreclosure bargains have also become the most ... - Real estate agents see return of foreign buyers (The Daily Reflector)
Wong, president of Optimus U.S. Real Estate Fund, has bought 60 condos at heavy discounts from developers in financial trouble. Wong paid about $62,500 each for 18 Las Vegas condos that once were priced at about $250,000 apiece. - Foreign Buyers Scoop Up Real Estate On the Cheap (KFWB News 980 Los Angeles)
While foreign real estate investment in the first six months of 2009 was lower than last year's level, real estate agents from New York to Las Vegas say purchases have increased rapidly in recent months. - Real estate agents see return of foreign buyers (Rocky Mount Telegram)
Wong, president of Optimus U.S. Real Estate Fund, has bought 60 condos at heavy discounts from devel... - Bankers face setback with Senate real-estate vote (The Sierra Vista Herald)
By Howard Fischer Capitol Media Services No descr PHOENIX — State lawmakers voted Wednesday to restore financial protections to real estate speculators, allowing them to walk away from their bad home investments. On a 20-4 vote, the Senate gave preliminary approval to repealing a measure passed earlier this year at the behest of bankers to limit who can take advantage of Arizona’s anti ... - 7 charged in $140M real estate scheme (Arizona Daily Star)
Seven people accused of being involved in a massive real estate fraud scheme that bilked victims — including some in Tucson — out of $140 million were charged Thursday with numerous felonies in Riverside County, Calif. - Real estate agents see return of foreign buyers (AP via Yahoo! News)
Canadian investor Arthur Wong is buying condos in Las Vegas and Phoenix like a shopper at Costco: In bulk, with slashed prices. - Investors Bullish on Health Care Real Estate as Reform Showdown Draws Closer (CoStar Group)
With the mammoth health care reform package hanging in the balance, medical real estate companies will enter 2010 in the throes of debate over the legislation's potential impact on their business, especially those owning and occupying hospitals and hospital...
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