You know when it is hot in Phoenix-When?
June 16th, 2008 categories: Phoenix Foreclosures
Your Border Collie, who loves to chase his ball, does not really care where it is.
You know it is hot in Phoenix, when your 5 hound dogs have those pretty pink tounges hanging low to the ground.
You know when it hot in Phoenix, when you go to show a vacant, Phoenix foreclosed home that has no electricity turned on, and you hope the buyer can look past their comfortablenesses and the sweat that is rolling down, everywhere.
You know it is hot in Phoenix, when you take your Phoenix home buyer to the back yard to see that pretty green pool .
If you are looking for a Phoenix area foreclosed home, be prepared to see some pretty horrific homes and pools, but there are some great deals and homes that are in great shape. If the Phoenix foreclosed homes
are priced right and are in fair condition, be prepared for a multiple offer situation. You may need to offer more than the asking price and most likely your offer must be solid.
You know it is hot in Phoenix, when your dogs take on habits of a vampire.
If you would like a list of foreclosures in the Phoenix Real Estate Market, feel free to email me at jamie_geiger@cox.net or call me at 480-216-4849
| Discussion: 5 Comments »
Down Payment Assistance for Phoenix Home Buyers.
June 16th, 2008 categories: Mortgage and Lending
It is called the Home in Five program-you can read more about this program over at The AZMortgageGuru.com , a preferred lender for this program. If you interested better act quickly as the money goes fast……….
| Discussion: 1 Comment »
Phoenix Real Estate- Market Statisics May 2008
June 15th, 2008 categories: Market Statistics, Real Estate News
There are currently 10,479 active listings (single family homes) for the Phoenix Real Estate Market. For the month of May there where 2561 new listings, 1260 pending sales and 984 sales. The current absorbtion rate or inventory of homes is currently 10.6 months for single family homes in Phoenix.
The average sale price for a Phoenix home in May 2008 was $261,272, compared to an average sales price of $260,111- showing a ever so small increase, but the good news- it did not decrease.
Phoenix Real Estate-List Price vs Sale Price
This chart shows a 4% difference between the the listed price and the actual sale price.
Phoenix Real Estate- Listing Trends
This chart is showing a positive trend, with pending and sold homes increasing.
| Discussion: 1 Comment »
Fun Fridays-Where’s Waylon and Garden Pics
June 13th, 2008 categories: Where is Waylon
It’s Friday, and Friday is for fun, so inspired from Teresa Boardmans blog, so here is my latest Where’s Waylon, and some pics of my Garden- hope you enjoy!!
I am growing green beans, tomatoes, artichokes, peas, corn, strawberries, pumpkins,, cantelope and watermelons. Hope you enjoy the pictures 
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Chandler Real Estate-Market Statistics May 2008
June 12th, 2008 categories: Market Statistics, Real Estate News
Currently there are 2012 active listings in the Chandler AZ Real Estate Market. The inventory of single family homes has remained relatively flat.
The current absorbtion rate or supply of homes is 5.9 months-approaching a balance market.
The average sales price continues to decline with a 5% drop from April 2008.
The List Price to Sales Price ratio is about 95%-homes are selling on average 5% under the asking price.
The number of homes sold increased 28% from April 2008 and the number of new listings fell by 14%
This graph indicates a good trend- more homes are selling!!
| Discussion: 1 Comment »
Trulia Voices
June 11th, 2008 categories: Real Estate News
I think that this is a great arena for home sellers and home buyers to get answers. It is a place where you can get answers in an anonymous way, without the pressures of someone calling you- the way I tend to search the Internet for answers myself.
However I see a disturbing trend, it is becoming a place for real estate agents to spar their opinions and try to discredit the other agent that just posted a response.
GROW UP- if you have an issue with an answer posted- Google the agent and send them an email- “spar or fight” out of the public eye. The consumers that are asking questions, they just want their question answered- they do not want to read your rant on another agents answer. Here is a perfect example of what I am referring to: New Answer
| Discussion: 2 Comments »
Buy and Bail- Is this the new real estate trend?
June 11th, 2008 categories: Phoenix Foreclosures, Real Estate News
Here is an interesting article from azcentral.com.
With prices continuing to decline in the Phoenix Real Estate Market , ARM’s adjusting, resulting in increased payments, homeowners with good credit are looking for homes to purchase, at half the value of their current home. After they close on their new home, they simply walk away from the home that is now upside down in value.
What do you think of this emerging trend?
| Discussion: 3 Comments »
Banks Slashing Prices to Unload Foreclosures
June 9th, 2008 categories: Disclosure, Phoenix Foreclosures
If you are looking for a deal in Phoenix and are thinking about purchasing a bank owned (REO) property in the Phoenix Real Estate Market- you may be facing or reliving 2005, the housing boom that saw multiple offers, as many as 15-20 offers for one home. 
As banks are trying to unload these homes, they are slashing the prices, which are bringing the buyers and multiple offers. So be prepared for this new round of bidding wars. The tactic, as it was in 2005, price it right and the price will be bid up.
There are some important considerations that a buyer should be aware of when buying a foreclosed home in Phoenix.
- Most if not all, are conveyed “as-is”- the bank will not make repairs, seller makes no warranty to the buyer, either expressed or implied as to the condition of the house, fitness of the property.
- The seller is still to disclose any material fact, however, since the bank did not “live” in the house- there will be no SPDS-sellers property disclosures or CLUE report which reports of any insurance claims on the property.
- Regarding the appraisal-a failed appraisal based on the condition of the home (missing A/C, mold, missing appliances etc.) will not allow the buyer to cancel the get their earnest money back. The AS_IS addendum overrides the contract, that includes an appraisal contingency. So if the appraisal comes in low, the buyer can not use the appraisal contingency- it is imparitive that the appraisal be done in the 10 day inspection period. If 10 days is not long enough, extend the inspection period when you submit the contract.
- If you are financing an REO property- keep in mind it is possible and is happening that the lender will refuse to lend on a home in which the home was unacceptable due to conditions of the home. They buyer could be at risk of losing their earnest money. The AS-IS addendum state, that the buyer must make the house acceptable in order for the lender to finance the property.
If you are buying- do your homework and make sure you have a good agent that has your best interest in mind.
| Discussion: 8 Comments »
Poetry and Selling your home in Phoenix
June 7th, 2008 categories: Real Estate News
Here are some poetic words, if you are trying to sell your home in the Phoenix Real Estate Market:
“Price them high, watch them die” “Price them low watch them go”
Here is the reality in selling your home in Phoenix: And the white out pen will not fix the market
An overpriced listing will not sell- you will most likely not even get a low ball offer, nor will you have any showings.
An under priced listing, will get lot’s of showings and most likely multiple offers.
If you want to “chase” the market- overprice your home and continue to drop the price, but most likley- you are behind the 8-ball, and the homes that are priced to sell are now under contract to sell- Sooooooooooo
“Price them high, watch them die” “Price them low watch them go”
Call me if you really want to sell your house.
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Where’s Waylon-June 7, 2008
June 7th, 2008 categories: Where is Waylon
Here is the latest on my Where’s Waylon-just for fun-hope you enjoy. He just got up from his daily “sun bathing” session.
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