tag:blogger.com,1999:blog-32901037959314575972024-03-08T08:28:56.897-08:00How is the Real Estate Market in Arizona? Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-3290103795931457597.post-84741140115736619612016-07-09T15:22:00.000-07:002016-07-09T15:22:01.273-07:00Blackstone Tenants Get a Shot at Buying Their Rental Houses<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: medium;"><b><span style="font-family: "arial" , "helvetica" , sans-serif;">Arizona Property Management & Investments</span></b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: medium;"><b>A+ rating with BBB / Honor Roll List with ADRE</b></span><br /><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b><br /></b></span> <span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;"><b><br /></b></span> <br /><div style="text-align: left;">
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="font-size: small;">Dear Subscribers, If you are planning to take some profits off the table or can no longer afford hanging on to your rental propertiy(ies), this could be the right opportunity to sell it. </span></span><br /><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="font-size: small;"></span></span><br /><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="font-size: small;">Home values have substantially gone up in Arizona since it bottomed out in 2010. In some areas we have surpassed the values at the height of the market in 2005!!! </span></span><br /><span style="font-family: Arial; font-size: small;"></span><br /><span style="font-family: Arial; font-size: small;">There are approximately over 300,000 rental properties </span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="font-size: small;">in Phoenix Metropolitan Area. Majority of them are held by large Equity Funds. They have now quietly started taking some profits off the table by selling to our #1 buyers, the tenants. This trend will accelerate next year and as fierce competition amongst these equity funds heat up, they are going to flood the market with thousands of unsold inventory driving prices back down again. </span></span><br /><span style="font-family: Arial; font-size: small;"></span><br /><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><span style="font-size: small;">If you are planning to sell your property, you should price it according to the market and offer the right terms to avoid getting caught at the exit. We have years of experience selling rental properties with or without tenants in place and short sale.</span></span></div>
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<strong><span style="font-size: medium;">Blackstone Tenants Get a Shot at Buying Their Rental Houses</span></strong></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: small;">BY: Heather Perlberg</span></div>
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<span style="background-color: white; color: #262626; font-family: , "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 0.81rem; line-height: 1.25rem;">July 5, 2016 </span></div>
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<span style="color: #262626; font-family: , "helvetica neue" , "helvetica" , "arial" , sans-serif;"><span style="font-size: 13px; line-height: 20px;">Firm’s Invitation Homes unit is selling in Arizona, California</span></span></div>
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<span style="color: #262626; font-family: , "helvetica neue" , "helvetica" , "arial" , sans-serif;"><span style="font-size: 13px; line-height: 20px;">Single-family l</span></span><span style="color: #262626; font-family: , "helvetica neue" , "helvetica" , "arial" , sans-serif; font-size: 13px; line-height: 20px;">andlords have been losing renters to home buying</span></div>
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Melissa Suniga and her mother had been renting a three-bedroom Phoenix house for less than a year when their landlord, Blackstone Group LP’s Invitation Homes, gave them the chance to buy it.</div>
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Suniga, a 40-year-old childcare worker, used her security deposit and $2,000 she’d saved from her income-tax refund, along with a county grant and a credit from Invitation Homes that together provided her with $10,600 more for her down payment and closing costs. She expects to complete her purchase of the $150,000 house this week.</div>
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“When I started renting, I thought, ‘I wish I could buy this home,’” Suniga said in an interview.</div>
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U.S. landlords who built rental businesses by buying homes en masse are now consolidating and streamlining their operations, in part by selling for a profit properties that have soared in value or no longer fit their business models. Invitation Homes is the first of the large rental companies to give residents a shot at owning their houses, seeking to benefit from having its own pool of ready buyers who are constrained by a market starved for affordable homes.</div>
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Blackstone has <a data-tracker-action="click" data-tracker-category="recirc" data-tracker-label="inline_link.01" href="http://www.bloomberg.com/news/articles/2013-12-20/wall-street-unlocks-profits-from-distress-with-rental-revolution" itemprop="StoryLink" itemscope="itemscope" style="background: none; border-bottom-color: rgb(43, 0, 247); border-bottom-style: solid; border-bottom-width: 1px; box-sizing: border-box; color: #262626; outline: 0px; text-decoration: none; transition: 0.1s ease-out;" title="Wall Street Unlocks Profits From Distress With Rental Revolution">amassed</a> about 50,000 rental houses in the past four years. While Invitation Homes is still buying selectively, spending about $5 million a week, it expects to cull about 5 percent of its properties annually, Chief Executive Officer John Bartling said.</div>
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Staying Put</h3>
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Selling rental homes to tenants is a way for investors to make more money than they would selling in bulk, and saves them the costs of renovating and carrying the properties until they sell on the open market. It’s also a way to help people stay put, keep their kids in the same schools and stabilize neighborhoods, according to Bartling.</div>
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“This is an important part of the maturation of the industry and for Invitation Homes as we grow over time,” he said in an interview.</div>
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About 25 percent of Invitation Homes renters who move out each year are leaving to become buyers, according to the company. That’s similar to what the industry’s other large firms are experiencing. Colony Starwood Homes has reported losing about 23 percent of departing tenants to homeownership, and American Homes 4 Rent has said its figure is about 30 percent.</div>
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American Homes 4 Rent, the No. 2 single-family landlord, with about 48,000 houses, didn’t respond to requests for comment about whether it would be selling homes to tenants. Colony Starwood, the third-largest, with about 31,100 homes, declined to comment, spokeswoman Caroline Luz said.</div>
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Homebuying Option</h3>
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Selling homes to renters is “an evolution of the business model,” said Jade Rahmani, a Keefe Bruyette & Woods Inc. analyst. “The differentiating factor in this industry is they can sell to an owner-occupant as well as an investor.”</div>
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Renters may have better luck buying a home from their landlords than venturing into the open market. Inventory is tight, and home prices nationally are up 32 percent since the 2012 low -- and have risen even more in areas hit hard by the housing crash, with increases of greater than 50 percent in Phoenix and Miami from their troughs. And soaring rents are causing some tenants to view homeownership as more economical.</div>
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Invitation Homes started selling houses to renters in Phoenix and Sacramento, California, this year, with plans to expand the program, to be called “Resident First Look,” in all 14 of its markets across the U.S. in the next few months.</div>
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The company’s decision to sell a home is based on a variety of factors, including the concentration of properties it wants to have in individual markets, prices and whether it wants to reallocate funds in other parts of the country, Bartling said.</div>
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Rising Prices</h3>
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Invitation Homes bought Suniga’s house for $83,000 in 2013, according to property records. Values in Phoenix have since risen about 25 percent, and rents in the area have climbed 15 percent in the same period.</div>
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Now, Suniga is buying the renovated place for $150,000 with a loan from the Blackstone-owned Finance of America Mortgage LLC. A bankruptcy from more than a decade ago, along with a past sale of a home for less than what was owed on it, had raised flags with other lenders Suniga talked to, even though she’s brought her credit score up to 660, she said.</div>
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While Invitation Homes said its renters-turned-homebuyers are free to use any lender they want, the company is working with a small number of mortgage providers that are more familiar with the new buying program, including Finance of America.</div>
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Similar Payment</h3>
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Suniga’s monthly mortgage payment will be $920, about $65 less than her rent, she said. Her down payment wouldn’t have been large enough without the help of the Maricopa County, Arizona, homebuyer-assistance program, which required both her and her mother to take an eight-hour online course. She also received a $5,000 credit from Invitation Homes for closing costs and used her security deposit toward the down payment.</div>
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That kind of help might lead to questions from lawmakers and regulators in Washington, according to Isaac Boltansky, an analyst in Washington with Compass Point Research & Trading LLC.</div>
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“There’s inherent skepticism in D.C. regarding Wall Street’s motivations in the mortgage-finance market,” he said. “Novel forms of credit access are going to be scrutinized closely even though they purport to increase homeownership.”</div>
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Some housing advocates have pressed rental companies to allow renters the opportunity to buy their homes before properties are sold to investors.</div>
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‘Help Households’</h3>
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“A first look for renters, as long as the renter can afford the home and purchases it on fair terms, could help households get on the road toward building equity and limit turnover in the neighborhood,” said Sarah Edelman, director of housing policy at the Center for American Progress in Washington. “It’s important, though, that they shop around for a mortgage.”</div>
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Smaller investors, such as Axonic Capital LLC, have been offering renters the chance to buy their homes for years.</div>
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“We definitely see it as one of the best ways to sell, because there’s no down time or rehab cost between tenants,” said Jonathan Shechtman, portfolio manager for residential strategies at the $2.7 billion investment firm.</div>
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More Flexibility</h3>
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Like Invitation Homes, Axonic -- which owns fewer than 1,000 properties, all in Florida -- has more flexibility on timing when selling to existing residents, many of whom are getting low-down-payment loans insured by the Federal Housing Administration, Shechtman said.</div>
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Suniga, the Blackstone tenant, is planning to replace some carpeting and upgrade the kitchen cabinets once she officially owns the rental home she had thought was unattainable.</div>
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“I’m thankful for the opportunity,” she said. “It’ll be a shock until I know it’s mine.”</div>
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Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com2tag:blogger.com,1999:blog-3290103795931457597.post-7248848695798924772016-03-13T10:14:00.000-07:002016-04-12T18:20:05.958-07:00 Inventory For Sale is way too low, demand is way too high, Home prices are going higher and higher taking rents up with it. <div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: large;"><b><span style="font-family: "arial" , "helvetica" , sans-serif;">Arizona Property Management & Investments</span></b></span></div>
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<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">3/12/2016</span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">BY: Payam Raouf</span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Designated Broker</span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span>
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span>
<br />
<div>
<div class="MsoNormal">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><b>Inventory For Sale is way too low, demand is way too high<span style="font-family: "arial" , "helvetica" , sans-serif;">,</span> Home prices are going higher and higher taking rents up with it. </b></span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><br /></span></span>
<br />
<div style="text-align: justify;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Lately, we have been getting calls from <span style="font-size: xx-small;">a few equity</span> <span style="font-size: xx-small;">f</span>unds that
purchased several thousand homes in Phoenix Metro Area back in
2009 through 2012 asking us if we have buyers for them.<span style="font-size: xx-small;"> </span>We
also see a good number of Canadian and Mid-Size
investors that are putting their homes on the market for sale. Some
speculators who purchased homes in 2005 and
2006 at the height of the market are trying to do the same one way or
another. Builders are back at it again building up the inventory.</span></span></div>
</div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Market is moving at a fast pace as more tenants and first time home
buyers are purchasing homes. Cali-vestors are back at it as they
get more bang for their buck<span style="font-size: xx-small;"> in Arizona. Not much flipping is going on. Margins are not simply there. </span></span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: xx-small;"><br />
</span></span></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">There is a shortage of rental homes <span style="font-size: xx-small;">throughout the valley. R</span>ents have gone up<span style="font-size: xx-small;"> considerably and
homes prices are going up in most areas. It looks like market is shooting back up. </span></span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: xx-small;"><br />Multi-Family
sale prices have skyrocketed. As they are a more affordable alternative
to single family home rentals. We see a lot of flipping in this area as
well as an influx of 1031 exchange money pouring in to this segment. </span></span></span><br />
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="font-size: xx-small;"><br />
</span></span></span></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;">Inventory of single family Homes for sale is low. We are hovering around 18500 active homes for sale on
MLS. For <span style="font-size: xx-small;">a </span>city the size of Phoenix Metro, <span style="font-size: xx-small;">normal is </span>around 25000.
This has made the condo prices go up substantially. We are at about
3500<span style="font-size: xx-small;"> units on MLS</span>. That <span style="font-size: xx-small;">is a little bit above normal in comparison</span>. So<span style="font-size: xx-small;">,</span> even
if the equity funds, Canadians, small/mid size investors and speculators dump s<span style="font-size: xx-small;">ome of their inventory this year</span> it is not going to affect the <span style="font-size: xx-small;">sale </span>prices. It will just help it to go higher because the shortage will continue. </span></span></div>
<div class="MsoNormal" style="text-align: center;">
<span style="font-size: small;"><span style="font-family: "arial" , "helvetica" , sans-serif;"><span style="background-color: yellow;"><b>If you are interested in
renting/managing buying or selling your property(ies), please let me know</b></span></span></span></div>
<div class="MsoNormal">
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Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com0tag:blogger.com,1999:blog-3290103795931457597.post-14650398243017346602015-12-10T15:27:00.004-08:002015-12-10T15:32:11.590-08:00Here’s what the housing and mortgage industry will look like in 2016<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><b>Payam Raouf</b></span></div>
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<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"><b>TO BUY / SELL <span style="font-family: "arial" , "helvetica" , sans-serif;">INVESTMENT</span> RENTAL PROPERTIES IN ARIZONA <span style="font-family: "arial" , "helvetica" , sans-serif;">PLEASE E-MAIL ME AT <a href="mailto:INFO@AZEZRENTALS.COM">INFO@AZEZRENTALS.COM</a><span style="font-family: "arial" , "helvetica" , sans-serif;"> OR CALL 62<span style="font-family: "arial" , "helvetica" , sans-serif;">3-435-6633 EXT 1105. THANK YOU. <span style="font-family: "arial" , "helvetica" , sans-serif;">PAYAM RAOUF</span></span></span></span></b></span><br />
<br />
<h4 class="sub-headline">
One insider's look at 2016<br />http://www.housingwire.com<br />December 8, 2015
</h4>
<div class="author">
Lynn Effinger</div>
<div class="comment-count">
<br /></div>
<br />
Lynn Effinger is a veteran of more than three decades in the
housing and mortgage servicing industries. He serves as president of
Effinger Consulting and is the author of the inspiring memoir, Believe
to Achieve – the Power of Perseverance.<br />
<br />
<div>
As an interested observer and active participant within the housing
and mortgage servicing industries for more than three decades, I have
opined on many industry-related subjects over the years, and each year
also present my own predictions for the coming year. Why not, since
predictions are like opinions and noses… most everyone has one?<br />
<br />
There are numerous reports and other predictions out there pointing
to positive improvement for the housing sector in 2016, or that indicate
there are signs that we will continue to experience a housing recovery
next year (which has actually only been true in specific markets, i.e.,
the Bay Area, Manhattan, Southern California, Denver and Salt Lake City
to name a few). My opinion is that although 2015 looked a lot like 2014,
next year will not mirror them in this vital sector.<br />
<br />
Before I list my predictions, it is important to note that everyone’s
predictions are relative to the economy in general, and the housing
sector in particular is subject to unforeseen domestic and global
disasters, man-made and otherwise.<br />
<br />
Therefore, since 2016 is shaping up to be a potentially chaotic,
unstable and unprecedented year of upheaval around the world, and is
perhaps the most important national election year of my lifetime, it is
quite possible that my predictions will not come to pass after all.<br />
That being said, the following are some of my housing and mortgage industry-related predictions for 2016:<br />
<br />
<b>1. Interest rates </b><br />
<blockquote>
Interest rates will rise not only in December by at least one-quarter
percentage point, but will continue to rise throughout the year for a
total increase of more than 1%, due to actions of the <b>Federal Reserve</b>.
Each uptick in mortgage rates will prevent many potential first-time
buyers (and others) from qualifying for a loan. This will impact days on
market of homes listed and will put pressure on listing prices to be
reduced. If there are not enough first-time buyers entering the housing
market there is less opportunity for existing homeowners to move up,
which will also add days on market and impact pricing.</blockquote>
<b>2. Luxury housing </b><br />
<blockquote>
A continued drop in luxury home prices, as <a href="http://www.housingwire.com/articles/35782-luxury-home-prices-drop-for-the-first-time-in-three-years" target="_blank">reported</a>
in HousingWire, will influence a similar drop in home prices of nearly
all price categories, which, combined with higher interest rates as
stated above, will have a negative impact on the health of the housing
sector.</blockquote>
<b>3. Mortgage credit </b><br />
<blockquote>
Credit will remain tight in 2016, despite efforts by <b>Fannie Mae</b> and <b>Freddie Mac</b>
to make more 3% down payment loans. This means that rental properties
will continue to be in high demand causing ever increasing rents, which,
like many mortgages today represent 40% – 50% of the income of renters
and homeowners, which, with stagnant wages is unsustainable. This will
negatively impact consumer confidence.</blockquote>
<b>4. Consumer confidence </b><br />
<blockquote>
Consumer confidence in general will be negatively impacted because of
the continued lackluster growth of our domestic economy. Until there is
a dramatic change in the direction of this country with respect to
deregulation of businesses (especially small businesses) and the
creation of meaningful full-time jobs, the housing sector will not gain
the strength it has had in the past.</blockquote>
<b>5. Delinquent housing inventory </b><br />
<blockquote>
Inventories of delinquent and foreclosed loans have not disappeared
and will only grow, further negatively impacting home prices in many
markets, as reported
by Ben Lane in HousingWire. In his article, Lane said, “Based on the
number of past distressed loan sales and the amount of non-performing
loan sales and re-performing loans that still exist on the books of
Fannie, Freddie, HUD and commercial banks, even if the number of NPL and
RPL sales stays at its current post-crisis high, there are still four
years’ worth of potential NPL sales volume and six years worth of RPL
sales volume left to sort out.”</blockquote>
<blockquote>
And that is assuming, as Lane noted, that no more additional loans become delinquent, which is unlikely in the extreme.</blockquote>
With dramatic improvement in the quality of leadership in Washington
and elsewhere, perhaps a more positive outlook is possible, but I can
only call ‘em as I see ‘em.<br />
<br />
<br />
<div style="text-align: center;">
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Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com0tag:blogger.com,1999:blog-3290103795931457597.post-64286386696126749412015-09-27T15:30:00.002-07:002015-09-27T15:30:29.088-07:00How is the Real Estate Market in Arizona? <div dir="ltr" style="text-align: left;" trbidi="on">
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<div style="text-align: center;">
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-small;"><b>A+ rating with BBB/ Honor Roll List with ADRE</b></span></div>
<div style="text-align: left;">
<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-small;"><b>Payam Raouf</b></span></div>
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<span style="font-family: Arial,Helvetica,sans-serif; font-size: x-small;"><b>Designated Broker/Owner</b></span></div>
<br />
<br />
<div class="MsoNormal">
Where are we going from here?</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
On the one hand I wish the phones stopped ringing, on the
other this is best market we have had since the crash of real estate in 2006/2007.
<span style="mso-spacerun: yes;"> </span>In some areas prices have surpassed the heights
of 2004/2005, in others they are getting very close to it. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Unemployment is at its lowest level in Phoenix Metro since
2006. Good luck finding a handyman, a skilled construction worker or even a skilled
office manager at a reasonable hourly rate! In June 2015 unemployment rate
dropped to 5% less than the 5.3% national average. <span style="mso-spacerun: yes;"> </span>There have been 61,400 new hires in Maricopa
and Pinal counties since February 2014, according to the Arizona Department of
Administration --- <span style="mso-spacerun: yes;"> </span>a pace higher than
the average number of new jobs created during February over the last 10 years.</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Mortgage companies are back logged 45 to 60 days. Days you
put an offer with closed of escrow within 30 days are over! Rates are low, down
payment assistance programs are back, financial institutions have eased up, first
time home buyers and renters are swarming the market and multiple offers
jamming up the fax machines. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Title companies, I call them the “Moo Cow Corrals” offer no incentives
to Realtors to get their business, let alone offering their clients a glass of
water going to sign their docs. Buyers, Seller check your HUDs twice before you
sign on the dotted line. They are making a ton of mistakes. <span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="text-align: justify;">
Who is buying who is moving to Phoenix? </div>
<div class="MsoNormal" style="text-align: justify;">
<br />
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Renters who lost their homes are on the top of the chart, second
to that are the first time home buyers and thirdly savvy investor, Californians and opportunists. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
From 2008-2011forclosures and short sales had become the
norms of the market. As the result, too many home owners lost their homes and
entered the rental market. 7 out of 10 of our tenants when they give their
notice to vacate, “BOUGHT A HOUSE” is their answer to why they are moving out. <span style="mso-spacerun: yes;"> </span></div>
<div class="MsoNormal" style="text-align: justify;">
With rent increasing 15 to 30 percent in most areas in the
past 18 months and how affordable homes<br />
<br />
<br />
are still out here in Phoenix Metro, rates
being so low, banks competing and sellers contributing up to 3% towards buyers
closing costs, it will be foolish not to buy a home. We see a lot of first time
home buyers entering the market. For just a little more than their deposits and
first months rents combined, they are buying homes and their payments are equal
or a bit higher than the rent. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Savvy investors sold their investment properties in
California where prices have sky rocketed and it feels like we are back in the
2003 area where speculators were sleeping behind the new home construction
offices to enter into a drawing to buy a home. Owning rental properties in
Phoenix Metro pencils out way better than in larger metropolitan areas, especially
in California. I heard from one investor in California that the exchange boards
at her 1031 exchange office are filled up with investors looking to complete
their exchanges and no properties to exchange it with in California that makes any sense.
A lot of them are coming to Arizona from buying one to multiple single
family homes to mid and large size multiplexes. I know first hands because we
are getting those calls.</div>
<div class="MsoNormal" style="text-align: justify;">
Younger
Californians especially from Silicon Valley area are
moving to Scottsdale. They tell me, you cannot get a decent condo for
$700,000
up there. A 3000 square feet home with pool on a large size lot in a
decent
area costs a fortune. Most tech guys work from home anyway. So we get a
lot of
those calls too. Quite a few that have already moved down here seem to
be very happy with their decisions specially the ones with children. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
We also see a lot of big corporations in the east coast transferring
their head honchos to Phoenix Metro looking to expand their operation. Cooperate
relocation has picked up by at least 6% in the last 12 months and a few more
applications are under review as we speak. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Recently there have had quite a few tenants with good
credits from Los Angeles and Orange County moving to Arizona in search of new opportunities.
<span style="mso-spacerun: yes;"> </span>Soon they will enter the home buying
market as well. </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Who are the sellers? </div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="text-align: justify; text-indent: -0.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">A)<span style="font: 7.0pt "Times New Roman";">
</span></span></span>Owners that have been under water with their mortgages
for the last ten years finding it now make sense to sell.</div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify; text-indent: -0.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">B)<span style="font: 7.0pt "Times New Roman";">
</span></span></span>Canadians investors: Most of the Canadians who
bought investment properties in Phoenix Metro bought in when Canadian Dollar
and US Dollar were at par in 2011. Now one US Dollar equals to 1.33 Canadian
Dollar so they enjoy the property value appreciation plus an additional 33%. </div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify; text-indent: -0.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">C)<span style="font: 7.0pt "Times New Roman";">
</span></span></span>Owners who are up sizing/downsizing. Regular sellers.</div>
<div class="MsoListParagraphCxSpMiddle" style="text-align: justify; text-indent: -0.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">D)<span style="font: 7.0pt "Times New Roman";">
</span></span></span>Flippers. There are still some opportunities not
as much in the lower end homes out there to fix and flip. Higher price homes
make more sense as long as the economy is doing well. A fine line to walk in
that area. Be careful. <span style="mso-spacerun: yes;"> </span></div>
<div class="MsoListParagraphCxSpLast" style="text-align: justify; text-indent: -0.25in;">
<span style="mso-bidi-font-family: Calibri; mso-bidi-theme-font: minor-latin;"><span style="mso-list: Ignore;">E)<span style="font: 7.0pt "Times New Roman";"> </span></span></span>Very little foreclosure.</div>
<div class="MsoListParagraphCxSpLast" style="text-align: justify; text-indent: -0.25in;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
We
specialize in buying and selling investment opportunities
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reducing your overhead <span style="mso-spacerun: yes;"> </span>adding to your
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<div class="MsoNormal" style="text-align: justify;">
<br /></div>
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Please call me directly at 888-777-6664 ext <span style="mso-spacerun: yes;"> </span>114 ( please make sure you tell the receptionist
<span style="mso-spacerun: yes;"> </span>you are an investor, they screen all my calls) or email me at <a href="mailto:psraouf@aol.com">info@azezrentals.com</a>.</div>
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By looking at the articles below, you will see that we have
been preaching those areas to our investors for the past two years.<span style="mso-spacerun: yes;"> </span>We know what, where and how to help you make your next investment move to
maximize your long and short term gains. Don’t make this decision on your own
even if you live in Phoenix yourself. This is a free consultation.<br />
<br />
Thank you.<br />
Payam H. Raouf <br />
(888) 777 6664 ext 114<br />
info@azezrentals.com </div>
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<b><span style="font-family: Arial,Helvetica,sans-serif; font-size: medium;">Arizona Property Management & Investments</span></b></div>
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<h1 class="detail__headline">
8 Phoenix-area cities hit top 50 healthiest US housing markets</h1>
<div class="detail__headline" style="text-align: left;">
<span style="font-size: xx-small;"> <span class="detail__meta__byline">
<a class="ct" href="http://www.bizjournals.com/phoenix/bio/24451/Eric+Jay+Toll">
<b>Eric Jay Toll</b>
</a>
</span>
<span class="detail__meta__byline-info">Reporter</span>
<span class="detail__meta__byline-info"><i>Phoenix Business Journal</i></span></span></div>
<div class="detail__headline" style="text-align: left;">
<br /></div>
<div class="content__segment">
Eight Arizona cities are rising in the ranks
of healthiest housing markets in the U.S., according to a WalletHub
study. They all landed in the top 50 healthiest U.S. housing markets for
comparably sized cities based on population.</div>
<div class="content__segment">
Gilbert, a
midsize city, ranked the highest of the Arizona cities at No. 11.
Chandler was next at No. 22 and Tempe ranked No. 28 in the midsize
cities. Among large U.S. cities Mesa ranked No. 40 and Phoenix was No.
46.</div>
<br />
<br />
<br />
<figure class="media media--ruled media--featured media--featured--landscape ct hidden--xs hidden--sm hidden--md">
<div class="clearfix">
<div class="row">
<div class="1/1 md__2/3 lg__1/1 xl__2/3">
<div class="media__media xs-only__expander">
<img alt="Valley cities scored in the top 50 among healthiest U.S. housing markets." class="media__img" src="http://media.bizj.us/view/img/6808902/screen-shot-2015-08-25-at-111308-am*750xx836-471-0-79.png" height="180" width="320" />
</div>
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<div class="1/1 md__1/3 lg__1/1 xl__1/3">
<div class="media__body">
<div class="media__caption">
Valley cities scored in the top 50 among healthiest U.S. housing markets.</div>
<div class="media__byline">
WalletHub</div>
</div>
</div>
</div>
</div>
</figure>
<div class="content__segment">
The website
consolidated rankings in 14 criteria, including pricing, percent of
homes still under water, days on market, affordability, and other
measures to determine the healthiest markets in the U.S.</div>
<aside class="inset inset--major hidden--print" id="module1Mbox">
<div class="module module--ruled">
<br /></div>
</aside>
<div class="content__segment">
Texas topped the healthiest markets list with No. 1 positions for Austin (large), Plano (midsize) and Frisco (small).</div>
<div class="content__segment">
Other Western
markets ranked high as well. Seattle (No. 2, large) and Denver (No. 3,
large) ranked higher than all Arizona cities. Salt Lake City (No. 21,
midsize), trailed Gilbert, but was just one ranking ahead of Chandler.</div>
<div class="content__segment">
Rank of Arizona cities among healthiest U.S. residential real estate markets</div>
<ul class="content__segment">
<li>11 Midsize - Gilbert</li>
<li>22 Midsize - Chandler</li>
<li>28 Midsize - Tempe</li>
<li>35 Midsize - Peoria</li>
<li>36 Midsize - Scottsdale</li>
<li>40 Large - Mesa</li>
<li>46 Large - Phoenix</li>
<li>49 Large - Tucson</li>
<li>55 Midsize - Glendale</li>
<li>88 Small - Surprise</li>
<li>123 Small - Yuma</li>
</ul>
<div class="content__segment">
Source: WalletHub</div>
<blockquote class="content__segment">
<i>Eric covers economic development, banking and finance, infrastructure, transportation and utilities.</i></blockquote>
</div>
Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com1tag:blogger.com,1999:blog-3290103795931457597.post-67168924211969188192015-02-14T11:52:00.000-08:002015-02-14T11:52:08.633-08:00<div dir="ltr" style="text-align: left;" trbidi="on">
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<br /></div>
<h2 class="MsoNormal" style="text-align: justify;">
<b> Foreclosures hit a 20-month high both in Phoenix
and Arizona
as a whole in January.</b></h2>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<a href="http://www.bizjournals.com/phoenix/bio/2781/Mike+Sunnucks">Mike Sunnucks</a></div>
<div class="MsoNormal" style="text-align: justify;">
Senior Reporter- <em>Phoenix Business Journal</em></div>
<div class="MsoNormal" style="text-align: justify;">
<em>2015</em></div>
<div style="text-align: justify;">
Foreclosures hit a 20-month high both in Phoenix
and Arizona
as a whole in January.</div>
<div style="text-align: justify;">
<span class="s1">Foreclosures jumped more than 100 percent in January compared
to December both in Phoenix
and statewide, according to new numbers today from RealtyTrac.</span></div>
<div style="text-align: justify;">
<span class="s1">Foreclosure activity both locally and statewide are at
20-month highs as banks step up their repossessions, auctions and filing of
default notices.</span></div>
<div style="text-align: justify;">
<span class="s1">Phoenix</span><span class="s1"> saw a 45 percent increase in January foreclosures compared a year
earlier, according to the real estate research firm.</span></div>
<div style="text-align: justify;">
<span class="s1">Foreclosure auctions in Arizona were up 37 percent in January, also
a 20-month high. Bank repossessions are up 61 percent, according to RealtyTrac.</span></div>
<div style="text-align: justify;">
<span class="s1">Those same repossessions are up 58 percent in Phoenix.</span></div>
<div style="text-align: justify;">
<span class="s1">There were more than 2,300 homes and condos in the
foreclosure process last month. That is up 104 percent from December.</span></div>
<div style="text-align: justify;">
<span class="s1">Statewide that increase is 109 percent from January 2014.</span></div>
<div style="text-align: justify;">
<span class="s1">The jump in foreclosures comes as the Phoenix housing market tries to shake off a
slow 2014 where low demand for homes and tough mortgage qualifications stymied
sales.</span></div>
<div style="text-align: justify;">
<span class="s1">Foreclosure activity was also up in states such as Ohio, New Jersey, Maryland and California
and metropolitan areas such as St. Louis, Los Angeles and San
Francisco.</span></div>
<div style="text-align: justify;">
<span class="s1">The worst cities for foreclosures include Atlantic
City, Las Vegas and eight Florida markets including Tampa,
Orlando, Miami
and Jacksonville.</span></div>
<div style="text-align: justify;">
<span class="s1">"The year-over-year increase in REOs in January was the
first annual increase nationwide following 25 consecutive months of declines,
getting the foreclosure spring cleaning we anticipated in our last foreclosure
report off to a quick start in 2015," said Daren
Blomquist, vice president at RealtyTrac. "Meanwhile, the number of
future foreclosure auctions scheduled in January continued to increase in many
states, foreshadowing more foreclosure spring cleaning to come in the next
several months in those states."</span></div>
<div class="MsoNormal" style="text-align: justify;">
Mike Sunnucks writes about residential and commercial real
estate, government, law, sports business and workplace issues.</div>
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<div style="border: medium none; padding: 0in;">
<br /></div>
</div>
<h1 style="text-align: justify;">
Housing ended 2014 on slow note; Phoenix
home starts down 15 percent</h1>
<div class="MsoNormal" style="text-align: justify;">
<a href="http://www.bizjournals.com/phoenix/bio/2781/Mike+Sunnucks">Mike Sunnucks</a></div>
<div class="MsoNormal" style="text-align: justify;">
Senior Reporter- <em>Phoenix Business Journal<br />
2015</em><span class="s1"></span></div>
<div style="text-align: justify;">
<span class="s1">Housing starts ended 2014 down 15 percent across Phoenix while new home
sales were off 10 percent and existing sales fell 8 percent as the local
residential market slogs into 2015.</span></div>
<div style="text-align: justify;">
<span class="s1">RL Brown Housing Reports says 2014 fell short in terms of
volume. The regional housing market is challenged by demand stunted by slow
population growth, tougher mortgage standards and plenty of borrowers
preferring to be or stuck in rentals because of poor credit and past
foreclosures.</span></div>
<div style="text-align: justify;">
<span class="s1">The average price of a new home last year in the Valley was
$351,196, up 1.5 percent, according to RL Brown.</span></div>
<div style="text-align: justify;">
<span class="s1">The average price of an existing home was $247,825, up 1
percent. But there are plenty of real estate analysts and agents who note the
overall price gains are spurred more by some high-end home sales than price
gains across segments.</span></div>
<div style="text-align: justify;">
<span class="s1">Another local real estate expert, Jim
Belfiore at Belfiore Real Estate Consulting, also expects some housing
challenges to persist in at least the first half of this year. Belfiore notes
the slip in demand challenges and can create oversupply issues for home
builders.</span></div>
<div style="text-align: justify;">
<span class="s1">Belfiore does note home builders are seeing some indications
that demand could improve this year.</span></div>
<div style="text-align: justify;">
<span class="s1">That could be especially true with new subdivisions geared
toward seniors in so-called "active adult communities."</span></div>
<div style="text-align: justify;">
_______________________________________________________________________</div>
<h1 style="text-align: justify;">
Rents dip in Phoenix
even as more units hit market</h1>
<div class="MsoNormal" style="text-align: justify;">
<a href="http://www.bizjournals.com/phoenix/bio/2781/Mike+Sunnucks">Mike Sunnucks</a>
</div>
<div class="MsoNormal" style="text-align: justify;">
Senior Reporter- <em>Phoenix Business Journal</em></div>
<div style="text-align: justify;">
<form>
</form>
</div>
<div class="MsoNormal" style="text-align: justify;">
Dec 31, 2014, 12:12pm MST</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
Rents dip in Phoenix
even as more units hit market.</div>
<div style="text-align: justify;">
Apartment rents have dropped in the Phoenix
metro area even as more new units are entering the market. Still, the
RealtyTrac real estate research firm said it's a better deal to buy a house
under current conditions than it is to rent an apartment.</div>
<div style="text-align: justify;">
That's if a borrower can qualify for a mortgage.</div>
<div style="text-align: justify;">
Three-bedroom apartments rented on average for $1,338 per month in Phoenix
during this fiscal year, according to RealtyTrac and the U.S. Department of
Housing and Urban Development. That is down 5 percent from $1,410 last year.</div>
<div style="text-align: justify;">
Rents also declined in Dallas, Las Vegas, Houston, Tucson and Los
Angeles. Texas and
Southern California — like Phoenix
— have seen plenty of new apartment developments. There are more units in the
construction pipeline and planning stages and numerous sales this year of older
complexes.</div>
<div style="text-align: justify;">
Conversely, apartment rental prices increased in markets such as Chicago, Denver and Seattle.</div>
<div style="text-align: justify;">
RealtyTrac estimates it takes 33 percent of the median income in Phoenix to rent a
three-bedroom apartment compared to 27 percent to afford the Valley's median
home price ($188,040). That's after all of the tax advantages are factor into
the mix. Still, many borrowers cannot qualify for home loans because of poor
credit, previous foreclosures and tighter lending standards.</div>
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<div style="border: medium none; padding: 0in;">
Median home prices increased 4 percent
in Phoenix this
year, according to the real estate data company. That is not as strong as home
value improvements in California, Texas and Florida.</div>
</div>
<h1 style="text-align: justify;">
Phoenix
homes among most overvalued in the country</h1>
<div style="text-align: justify;">
<form>
</form>
</div>
<div style="text-align: justify;">
<span style="font-weight: normal;">Dec 29, 2014, 6:05am MST <span class="updated">Updated: Dec
29, 2014, 7:27am MST</span></span>
</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="caption" style="text-align: justify;">
Fitch Ratings says Phoenix-area homes are some of the most
overvalued in the country.</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<a href="http://www.bizjournals.com/phoenix/bio/13571/Tim+Gallen">Tim Gallen</a></div>
<div class="MsoNormal" style="text-align: justify;">
Digital Producer- <em>Phoenix Business Journal</em></div>
<div style="text-align: justify;">
If you've thought home prices in Phoenix
seem a bit high, you're not alone.</div>
<div style="text-align: justify;">
In a new report, bond-rating agency Fitch
Ratings says Phoenix-area homes are some of the most overvalued in the country,
reports <em><a href="http://www.azcentral.com/story/money/real-estate/2014/12/24/phoenix-area-homes-texas-sized-overvaluation-study-days/20874193/">The
Arizona Republic</a>.</em> The fifth most overvalued, in fact -- more than
pricey California markets Los
Angeles and San Francisco.</div>
<div style="text-align: justify;">
Metro Phoenix
homes are roughly 16 percent overvalued, according to Fitch. The
agency pegs Arizona
as among the six priciest states.</div>
<div style="text-align: justify;">
Statewide, Arizona
home prices are 10 to 15 percent overvalued, according to Fitch.
That puts it in the same vein as California, Hawaii, Idaho, Nevada and Texas.</div>
<div style="text-align: justify;">
Phoenix
housing was undervalued in 2011, according to the rating agency. The market was
sustainably valued in 2012 and 10 to 15 percent overvalued in 2013.</div>
<div style="-moz-border-bottom-colors: none; -moz-border-left-colors: none; -moz-border-right-colors: none; -moz-border-top-colors: none; border-color: -moz-use-text-color -moz-use-text-color windowtext; border-image: none; border-style: none none solid; border-width: medium medium 1.5pt; padding: 0in 0in 1pt; text-align: justify;">
<div style="border: medium none; padding: 0in;">
Besides Phoenix,
the rest of Fitch's
top 10 overvalued cities are in California, Texas or Florida, with
hipster hub Austin
ranked at the top. Fitch
estimates homes in the Texas capital are 20
percent overvalued, followed by energy boomtown Houston, whose homes are overvalued by 19
percent, according to Fitch.</div>
<div style="border: medium none; padding: 0in;">
<br /></div>
</div>
<h1 style="text-align: justify;">
The world may not be flat, but Phoenix's
housing market is</h1>
<div style="text-align: justify;">
<form>
</form>
</div>
<div class="MsoNormal" style="text-align: justify;">
Dec 16, 2014, 1:53pm MST <span class="updated">Updated: Dec
16, 2014, 2:07pm MST</span> </div>
<div class="MsoNormal" style="text-align: justify;">
The Phoenix
housing market will end the year on a flat note.</div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<a href="http://www.bizjournals.com/phoenix/bio/13571/Tim+Gallen">Tim Gallen</a></div>
<div class="MsoNormal" style="text-align: justify;">
Digital Producer- <em>Phoenix Business Journal</em></div>
<div style="text-align: justify;">
This year will go down as a generally flat one for the greater Phoenix housing market.</div>
<div style="text-align: justify;">
That's according to the latest report from Arizona State
University real-estate
guru Michael
Orr, who noted that demand remains lower than a year ago.</div>
<div style="text-align: justify;">
Sales of single-family homes fell 5 percent from October 2013 to October
2014, with activity among first-time home buyers particularly low.</div>
<h5 style="text-align: justify;">
See Also</h5>
<ul style="text-align: justify;" type="disc">
<li class="MsoNormal"><a href="http://www.bizjournals.com/phoenix/morning_call/2014/12/rents-around-phoenix-headed-up.html">Rents
around Phoenix headed up</a></li>
<li class="MsoNormal"><a href="http://www.bizjournals.com/phoenix/news/2014/12/11/phoenix-had-largest-decline-in-foreclosures-among.html">Phoenix
had largest decline in foreclosures among big US cities</a></li>
<li class="MsoNormal"><a href="http://www.bizjournals.com/phoenix/blog/business/2014/12/why-the-phoenixreal-estate-market-is-slow-could.html">Why
the Phoenix real estate market is slow, could stay slow and what needs to
change</a></li>
</ul>
<div style="text-align: justify;">
The report cites the usual culprits of potential buyers carrying tarnished
credit histories from the recession and the fact that 20-somethings continue to
forgo home purchases.</div>
<div style="text-align: justify;">
"We've seen very little change in the greater Phoenix housing market for the last year, and
stability is the order of the day," said Orr.</div>
<div style="text-align: justify;">
Coincidentally, these are the same reasons the rental market is strong,
according to the report.</div>
<div style="text-align: justify;">
Rents have risen 3.7 percent during the past year and likely will continue
to climb next year.</div>
<div style="text-align: justify;">
Despite the challenges of the market during the past year, the median home
price still rose 4 percent from October 2013 to October 2014, rising from
$200,000 to $208,000.</div>
<div style="text-align: justify;">
Also, Orr
noted the market is seeing a small bump in investor interest and new-home
sales.</div>
<div style="text-align: justify;">
The percentage of residential properties bought by investors hit 15.5
percent, the highest level since May, but still well below last year's levels,
according to Orr's
report.</div>
<div style="text-align: justify;">
"Investors and out-of-state buyers are showing a small recovery in
buying interest, but to get our market back to what we would consider normal
will still require a major increase in demand from local first-time home
buyers," Orr
said.</div>
<div style="text-align: justify;">
New homes are faring better of late, with their share of sales up to 14
percent. That's the same level as it was in October 2013.</div>
<div style="text-align: justify;">
<br /></div>
<br />
<div style="text-align: center;">
<span style="font-size: xx-small;"><b><span style="font-family: Arial,Helvetica,sans-serif;">Arizona Property Management & Investments</span></b></span></div>
<div style="text-align: center;">
<span style="font-size: xx-small;">
</span></div>
<div style="text-align: center;">
<span style="font-size: small;"><b><span style="color: red;"><span style="font-family: Arial,Helvetica,sans-serif;">Call For a Free Property Management Quote:</span></span></b></span></div>
<div style="text-align: center;">
<span style="font-size: small;"><b><span style="color: red;"><span style="font-family: Arial,Helvetica,sans-serif;"> (888) 777 6664</span></span></b></span></div>
<div style="text-align: center;">
<span style="font-size: xx-small;">
</span>
<span style="font-family: Arial,Helvetica,sans-serif; font-size: small;"><b><a href="http://azezrentals.com/districtreferrals.htm" target="_blank">CLICK HERE TO A GET A FREE PROPERTY MANAGEMENT QUOTE</a></b></span></div>
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Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com0tag:blogger.com,1999:blog-3290103795931457597.post-20932615567015765122015-01-10T12:56:00.000-08:002015-01-10T13:01:34.233-08:00The road to American serfdom via the housing market: The trend towards renter households will continue deep into 2015.<div dir="ltr" style="text-align: left;" trbidi="on">
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<br />
<div style="text-align: justify;">
By: DrHousingBubble<br />
<br />
If you bought or rented in 2014 a larger portion of your income went
to housing. Rents and housing values are quickly outpacing any pathetic
gains to be had with wages. With the stock market at a peak, talking
heads are surprised when the public is still largely negative on the
economy. Can it be that many younger adults are living
at home or wages are stagnant? It can also be that our housing market
is still largely operated as some feudal operation. Many lucrative
deals were done with big banks and generous offers circumventing
accounting rules. This works because many perceive they are temporarily
embarrassed Trumps, only one flip away from being a millionaire. Why
punish financial crimes when you will likely need those laws to protect <i>your</i>
gains once you join the club? The radio talk shows are all trying to
convince people to over leverage and buy a home because you know, this
time is the last time ever to buy. Yet home sales are pathetic because
people don’t have the wages to support current prices. So sales drop
and many sellers pull properties off the market. You want to play, you
have to pay today. Rents are also rising and this is where a large
portion of household growth has occurred. 2015 will continue to see
housing consume a large portion of income and will lead many into a new
modern day serfdom.<br />
<span id="more-7888"></span><br />
<b>The gain of 7 million rental households</b></div>
<div class="spx_inspected_extr spx_global" style="text-align: justify;">
Over the last decade we have
added 7 million renting households. Is this because of population
growth? No. This trend was driven because of the boom and bust in the
housing market. Investors crowded out regular home buyers in buying
single family homes and now, we have millions of new renters out in the
market. Many of these people are folks who lost their homes via
foreclosure.</div>
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<div style="text-align: justify;">
Take a look at the obvious jump in renters:<br />
<a href="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/renter-occupied.png" target="_blank" title="renter-occupied"><img alt="renter-occupied" class="alignnone size-full wp-image-7889" src="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/renter-occupied.png" height="256" width="538" /></a><br />
For better or worse, homeownership is a path to building equity. It
is a forced saving account for many. Most Americans don’t even benefit
from the stock market peaking because nearly half of the country doesn’t
even own stocks. And many own only a small amount. Most Americans
derive their net worth from their primary residence. With fewer buying
and more renting, I doubt that on a full scale people are suddenly
buying stocks for the long-term. But it is also the case that many are
simply renting because that is all they can afford. Many young
Americans have so much debt that this is all they can pay. Think of
places like San Francisco where jobs pay well but rents are simply out of this world and home prices are nutty.<br />
<b>Rents more stable versus wild housing prices</b><br />
Thanks to low rates, generous tax structures, and the American Dream
marketing machine home values are operating in a casino like
environment. This wasn’t the case in previous generation but take a
look at fluctuations in rents versus home prices:<br />
<a href="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rents-and-home-prices.png" target="_blank" title="rents and home prices"><img alt="rents and home prices" class="alignnone size-full wp-image-7890" src="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rents-and-home-prices.png" height="322" width="578" /></a><br />
A crazy year for rents is when rents go up over 4 percent
year-over-year. For home values we routinely had year-over-year gains
of 25 percent in the last 20 years (including the latest boom in 2013).
Rents are driven by net income of local families. No funny leverage
here. But with buying homes, you have investors chasing yields, or
loans that allow tiny down payments for buyers but then tack on a
massive 30 year mortgage with a monthly nut that seems reasonable but
only because of a low interest rate. Some of these people have no
retirement account yet take on a $600,000 or $800,000 mortgage without
batting an eye. So what we find is this psychological shift where some
that want to buy are convinced that they need to start at the bottom of
the ladder and pay an enormous price tag just to get in. To move out of
serfdom, you have to embrace the cult of Mega Debt.<br />
<b>Young adults more likely to stay close to home – and rent</b><br />
Young adults are facing the biggest impact of the housing crunch.
Many are living at home because they can’t even afford current rents.
Those that do venture out, will likely rent as their first step. A
recent survey found that many young adults are planning on staying
local. Say you live with your baby boomer parents in Pasadena or San Francisco.
You want to buy like they did but good luck. So many have their
network within said community and will likely rent (or live with mom and
dad deep into their 30s and 40s):<br />
<a href="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rentals-young-adults.jpg" target="_blank" title="rentals young adults"><img alt="rentals young adults" class="alignnone wp-image-7891" src="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rentals-young-adults.jpg" height="302" width="537" /></a><br />
I found this data interesting. People are simply moving less from
their home area. So this will create more demand for rentals in these
markets. In California, we have 2.3 million adults living at home.
Pent up demand? Unlikely. The main reason they are at home is because
of financial constraints. These are people that can’t even afford a
rental. I’m sure this trend is occurring in other higher priced metro
areas as well.<br />
<b>Rental income soaring for investors </b><br />
Rental income has soared since the bust happened. The biggest
winners? Those who bought properties to become the new feudal
landlords. You can see by the below chart that there was a larger
concerted effort to consolidate rental income beyond the mom and pop
buyers of former years:<br />
<a href="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rental-income1.png" target="_blank" title="rental income"><img alt="rental income" class="alignnone size-full wp-image-7892" src="http://www.doctorhousingbubble.com/wp-content/uploads/2014/12/rental-income1.png" height="244" width="529" /></a><br />
Serfdom is also occurring to many households buying. They are
leveraging every penny into their mortgage payment. Think you own your
place? Try missing a few payments and become part of the 7 million completed foreclosures
since the crisis hit. 2014 simply saw more net income going into
housing. Is this good? Not really since housing is a dud for the
economy unless we have new construction being built but that is not
happening on a large scale. 2015 will likely see this continuation of
serfdom via renting or buying but at least you might save a few bucks
with lower oil! The road to serfdom apparently runs through housing.<span style="font-size: medium;"> </span><br />
<span style="font-size: medium;"></span></div>
</div>
<div style="text-align: justify;">
</div>
</div>
Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com0tag:blogger.com,1999:blog-3290103795931457597.post-35898957055738141502015-01-10T12:52:00.000-08:002015-01-10T12:52:08.467-08:00Flip or Hold: Best Real Estate Moves for 2015<div dir="ltr" style="text-align: left;" trbidi="on">
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<h1 class="h-biggest">
Flip or Hold: Best Real Estate Moves for 2015</h1>
<h2 class="h-big h-slacker h-light h-normal">
Whether it makes sense to flip or hold property depends entirely on your region.</h2>
<img alt="Closeup of a man calculating payments for a home." class="img-responsive block-generous" data-size="rectangle652" height="266" src="http://www.usnews.com/dims4/USNEWS/b89290e/2147483647/resize/652x%3E/quality/85/?url=%2Fcmsmedia%2Ff2%2F33%2F851977354a3291c1d50a9e32f8d7%2F141209-realestateinvesting-stock.jpg" title="(iStockPhoto)" width="400" />
<div class="t t-dim" style="margin-top: -20px;">
There is plenty of positive news for real estate investors to look forward to in 2015.</div>
<div class="t t-dim" style="margin-top: -20px;">
<br /></div>
<div class="t t-dim" style="margin-top: -20px;">
<br /></div>
<div class="drawer block-generous">
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<span class="item drawer_paddingTop"> </span></div>
<div class="drawer_main bar-sep-overunder t-small">
<span class="item drawer_paddingTop">By
<a href="http://money.usnews.com/topics/author/joel-cone" rel="author">Joel Cone</a>
</span>
<time class="t-small item drawer_marginTop" datetime="2015-01-01" itemprop="datePublished">
Jan. 1, 2015 | 9:00 a.m. EST
</time>
<span class="thumb-middled-right right t-small t-subdued drawer_trigger drawer_paddingTop" id="bylineSocialMore">+ More</span>
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Wild fluctuations in the nation’s real estate
cycle have
taken investors on a roller coaster ride since the early part of this
century. From the first decade, marked by overheated home prices in many
of the nation’s
most popular metropolitan areas, to the post-Great Recession era sending
home values
into a free fall, investors have had to adjust and adapt their
investment strategies
to market conditions.<br />
<br />
So, going forward, which are the best strategies to pursue for real
estate investors next year?<br />
<b>The big picture for 2015. </b>Looking at the nation’s housing and economic indicators,
there is plenty of positive news to justify continued investor optimism in
2015. Home sales – both existing and new – are projected to
increase next year, which is welcome news for fix-and-flip investors.<br />
<br />
At
the 2014 Realtors Conference & Expo, Lawrence Yun, chief economist
for the
National Association of Realtors, or NAR, predicted a rebound for
existing home
sales for the next two years, and he projects the national median
existing-home price will rise at a moderate
4 percent in each of those years. On the new home front, David Crowe,
chief economist for the
National Association of Home Builders, forecasted in an Oct. 31,
2014 National Association of Home Builders webinar that multi-family
housing starts were projected to increase 15 percent in the rest of 2014
and hold steady in 2015.<br />
<br />
“Multi-family housing starts have rebounded back to normal
since the downturn, mostly due to the strong demand for renting,” says
NAR’s Yun,
who also notes that renter households have increased by 4 million since
2010, while homeowner households have decreased by 1 million.<br />
Two major concerns remain: tight lending standards, which
continue to keep people who could otherwise afford to buy a home from
qualifying for a loan to finance the purchase, and interest rates, which are
expected to hit at least 5 percent by year-end.<br />
<br />
<b>Looking at
the numbers. </b>Daren Blomquist, vice president at RealtyTrac, says he believes 2015
is going to be a better year for buy-and-hold investors than for flippers –
with the caveat that real estate values vary from area to area and property to
property, so investment strategies will have to adjust accordingly.<br />
<br />
According to RealtyTrac’s
numbers, the volume of properties being flipped declined dramatically, down
from their most recent peak of 8.8 percent of all single-family home sales in
the second quarter of 2012, to 4 percent of all home sales in the third quarter
of this year.<br />
“As home-price
appreciation slowed down, the flippers have become less active in this market
as well,” Blomquist explains. “The interesting thing is that the volume of
flipping is going down, but the average profit on a flip is staying very
strong. The gross profit has stayed strong for the past three years in the 30
percent range.”<br />
<br />
For buy-and-hold
investors, rental properties did well in 2014, although gross rental return was
down slightly in the 586 counties surveyed by RealtyTrac, compared to 2013.<br />
<br />
“This year was not as good
for buying rentals as last year. Last year, we had a 10 percent return because
home prices went up, even though rents went up. Returns have slipped a bit
because the cost of acquisition went up,” he says.<br />
<br />
Still, Blomquist says he believes it
is a good time to buy rental properties, because the dynamics of this market are right.<br />
<br />
“We will see it flatten
out because home prices are starting to flatten out as well. That will allow
rents to catch up with home prices, which is good for buy-and-hold investors,
but not as good for the flipper,” Blomquist says.<br />
<br />
<b>The local perspective. </b>To best-selling real
estate author, attorney and longtime investor William Bronchick, 2015 is going
to be a good year in the Denver market for owning rental properties, but not as
good for flippers.<br />
<br />
“It’s great market for
rentals, because people still can’t get loans and there’s so many renters. The
lending market is tight, so there are more renters, so higher rental rates and
lower vacancies make for a great rental market,” Bronchick says. “On other
hand, inventory is low, so if you can get your hands on a good motivated
property, then you’re good for a flip.”<br />
<br />
Working in North Carolina and South Carolina, investor
and trainer Larry Goins, says current market conditions in these states are good for both
flippers and rental property owners.<br />
<br />
“There are deals to be
had, but you have to work harder to get them,” Goins says. “I like to buy
lower-priced houses and rent them or do lease options or seller financing.”<br />
<br />
Specializing in the
Atlanta market for decades, Andy Heller, a real estate investor and trainer on these topics, says that
since the market crash, a buy-and-hold strategy has made more sense, because
investors could buy property very inexpensively.<br />
<br />
“Most of the country has
settled into a more normal appreciation especially in the last six months or
so,” Heller says. “Allowing for the fact that we’re in a time of normal
appreciation, what strategy is the best? Both. We don’t have an overheated market
and we don’t have a collapsing market.”<br />
In the Greater Phoenix
area, supply and demand economics will dictate the right investment strategy in
2015.<br />
<br />
“The Greater Phoenix
market has been in low supply and low demand for 15 months now,” says
Alan
Langston, executive director of the Arizona Real Estate Investors
Association or AZREIA. “We’re not sure that’s going to change anytime
soon. Our market’s
been stagnant for a long time, but that doesn’t mean real estate
investing has
been bad. It’s been different.”<br />
<br />
Langston believes
investors will continue to be successful, they are whether rehabbing and flipping
houses, or holding onto rentals - but they will have to approach the business differently
than they used to.<br />
<br />
“If you know what you’re
doing as a real estate investor, you’re going to adjust what you need to adjust
so you do well on your property,” Langston says. “If you’re an informed
investor, you’re going to be fine,” he says.<br />
<br />
<span class="apple-converted-space"><b>Investor activity varies by investor, region and property types. </b></span><span class="apple-converted-space">Auction.com,
the
largest online real estate marketplace, recently released survey data
collected from investors bidding on properties across the country, which
confirmed that buying property to hold and rent is currently favored
over flipping
nationwide. However, investor intent varies considerably between online
and offline
investors, regions, and property prices.</span><br />
<br />
<span class="apple-converted-space">The study showed that purchasing
property to rent is more prevalent in the Midwest and South, whereas
there
appears to be a higher propensity for flipping in the Northeast. The
flip versus rent split is nearly even in the West, with a very slight
preference toward
renting.</span><br />
<br />
“Real
estate investors appear more likely to flip a property in those regions where
home values are higher,” says Auction.com Executive Vice President Rick Sharga.
“Higher prices can translate to a faster and potentially more significant
short-term return on investment. The hold-and-rent strategy seems most popular
in markets where home prices are lower, allowing investors to charge a more
competitive monthly rental rate and still produce reasonable returns over an
extended period of time."<br />
<div style="text-align: center;">
<span style="font-size: large;"> </span></div>
</div>
Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com3tag:blogger.com,1999:blog-3290103795931457597.post-47926802559070141792013-12-21T16:56:00.000-08:002014-03-01T15:43:08.619-08:00The New Luxury Home Market<div dir="ltr" style="text-align: left;" trbidi="on">
<br />
<br />
<br />
<header class="info" id="header">
<h2>
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<h1 class="entry-title">
The New Luxury Home Market</h1>
There’s a nine-month supply of inventory, with more buyers than sellers<br />
<div style="font-size: 10px; font-style: italic; margin: 5px 0 10px 0;">
<span class="author vcard"><span class="fn">by RaeAnne Marsh</span></span></div>
<br />
<br />
<img alt="" class="alignnone size-full wp-image-1015" src="http://inbusinessmag.com/wp-content/uploads/2012/11/TopLuxuryRealtors.jpg" height="186" title="Top Luxury Realtors" width="320" /><br />
<br />
<div style="text-align: justify;">
With “luxury home” generally defined as a home valued at $500,000 or
more, a high percentage of Valley homes would have fallen into that
category only a few years ago. Today, however, with the average Valley
single-family residence valued at $160,000, “luxury home” encompasses a
more select market.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
<span style="text-align: right;">Luxury properties span the Valley in
gated and non-gated communities, and include horse properties and golf
properties. Number of active days on the market increases with listing
price, averaging 133 days for houses in the $500,000 to $600,000 range
and 373 days for houses listed at more than $3 million. The average
listing in the luxury category is $1.35 million, and Lein notes
appreciation is not markedly different from a year ago. Compared to
non-luxury properties of $100,000 to $200,000 that appreciated 28
percent per square foot in the past 18 months, luxury home prices
increased $3 per square foot.</span></div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
A little more than 2,400 homes now on the market in the Greater
Phoenix area qualify as luxury homes. Selling at an average of 250 per
month, this is a 9.4-months’ supply; a year ago, there was an
approximately 12.5-month supply. So the glut of homes on the market is
definitely receding, and W. P. Carey School of Business reported in October that there were more buyers than sellers in today’s housing market overall.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Foreclosed properties overall is no longer a dominant issue.
While America’s housing market is finally starting to really recover
from the Great Recession, some areas of the country are fighting back
faster than others. New research from the W. P. Carey School of Business
at Arizona State University indicates one reason: Different states have
dramatically different mortgage laws, and some — like Arizona — make it
easier to push through tough times.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
“The laws across states use different legal theories as the basis for
mortgages, and they balance the rights of creditors and borrowers very
differently,” explains Assistant Professor of Real Estate Andra Ghent of
the W. P. Carey School of Business. “The variations started early in
America’s history, and they’re not really based on economic reasons, but
they’re still having a major influence on what’s happening now with the
housing market.” Key, she says, is quick resolution of the situation.
“For example, if a state requires a longer period before foreclosures
can happen, then that generally means the homes deteriorate more as the
borrowers realize they’re going to have to leave and stop taking care of
the property. This is bad for the neighbors and the property values.”</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Arizona is one of the states in which the damage happened relatively
quickly, and there’s no longer a big backlog of foreclosures to go
through the process. Center for Real Estate Theory and Practice at the
W. P. Carey School of Business data shows Phoenix-area home prices have
been rising dramatically since last fall.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
The market is seeing “some push-back from second-home owners who are
concerned about maintaining their second-home lifestyle” in light of
possible tax changes, Lein says. Other reasons for selling, he says,
fall into the usual categories: death, divorce, relocation and kids
growing up. And Lein observes, “There’s a pent-up demand for divorce.
People couldn’t afford to get a divorce” when they were underwater on
their mortgage.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
There is some speculative purchasing, but that is primarily for the
foreclosed properties. Other buyers of luxury homes are “move-up
individuals,” says Lein, pointing out that even if unemployment is in
the high teens, there’s another 80 percent who “are working and
susceptible to moving up.” And then there are the multi-nationals who
are buying their luxury homes here. Canadians make up a large part of
this market; joining them are individuals from Pacific Rim countries,
and new to the mix are Chinese. According to Lein, purchases by Chinese
are largely trophy properties on the West Coast, but “Paradise Valley
has had some sale to what’s reported to be Chinese, who are so new [to
Arizona] that, in many cases, they’ve never seen the property” in
person.</div>
<div style="text-align: justify;">
<br /></div>
<div style="text-align: justify;">
Lenders today have more to offer this market. Lein notes that two to
three years ago, “there was literally nothing available.” But now, he
says, “Every week, I’m being approached with new and improved financing
programs for luxury-home buyers.”</div>
</div>
Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com2tag:blogger.com,1999:blog-3290103795931457597.post-60608926243974893012013-12-21T16:27:00.000-08:002014-03-01T15:43:42.107-08:00Phoenix-area home sales dipped in past few months but high-end home sales are climbing!<div dir="ltr" style="text-align: left;" trbidi="on">
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<span style="font-size: large;"><span class="byline">Phoenix-area home sales dipped in past few months but high-end home sales are climbing!</span></span></div>
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<span class="byline">By Catherine Reagor</span>
<span class="creditline">The Republic | azcentral.com</span>
<span class="pubtime">Thu Dec 12, 2013 5:21 PM</span></div>
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Homebuyer demand in metro Phoenix has backed off during the past
few months, either because of a drop in confidence from the government
shutdown or the area’s rising home prices, according to an ASU
real-estate analyst.</div>
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Sales fell in October while the number of
homes listed for sale climbed, according to the latest report from the
W.P. Carey School of Business at Arizona State University. The region’s
median home price inched up to $200,000 from $199,000 in September.</div>
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“Sales
will be way down in November and through the holidays, when some people
even take their homes off the market until late January,” said Mike
Orr, director of W.P. Carey’s Center for Real Estate Theory and
Practice. “We also anticipate a much slower rate of price appreciation
in 2014 than the furious pace we have witnessed over the last two
years.”</div>
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In October, 7,045 houses sold in metro Phoenix. That’s
about 100 fewer sales than in September. In the spring, home sales were
hovering around 9,000 a month.</div>
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Home sales to investors as well as
those to out-of-state buyers have dropped over the past six months.
Investors were behind almost 40 percent of all home sales in July 2012,
the peak of those types of purchases. In October, investor purchases
accounted for about 23 percent of home sales. Second-home buyers from
outside Arizona accounted for 16.4 percent of October’s home sales, down
from 20.1 percent a year earlier.</div>
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High-end home sales are
climbing, which partially accounts for the higher median price. Sales of
homes priced above $500,000 are up 34 percent from a year earlier.</div>
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Listings
are up 40 percent since November 2012, though Orr said the supply of
homes for sale still is 15 to 20 percent below what would be considered
normal for metro Phoenix. </div>
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Currently, about 26,500 homes are for sale in the Valley.</div>
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Arizona property Management and Investmentshttp://www.blogger.com/profile/08301973487734198482noreply@blogger.com0