Good news? Looks that way... the recent sales data from the Arizona Regional Multiple listing service indicates that Phoenix is one of only 15% of all areas in the US with an increase in the last quarter numbers. The article listed on John Hall and Associates website shows that we are among the best when it comes to "recovering markets". I'll take that! Enjoy your week. -Jenny
What a great kitchen remodel!
Did you know that if you are a SRP customer, you can get cash back from them when you buy a new AC system? Yes, it's true! "Depending on the unit efficiency ratio (min. 14 seer) and the equipment configuration, the rebate ranges from $250-$600 for current SRP residential electric customers with existing homes who replace existing central heat pumps or central air conditioners with new, high-efficiency central cooling systems." (This is taken straight from the June 2008 SRP newsletter that comes with your bill). For more info on this program -- go to www.srpnet.com/powerwise. If it's time for a new AC unit- what a great way to get some cash back in your pocket!!
Have a great weekend. -Jenny B
Good news for those of you who see the great opportunities to buy an investment home! If you are a buyer that wants to buy a foreclosed property at a huge discount, but want to turn it quickly - you now have no limitations! The government has just suspended the property flipping rule for one year. Someone who purchases a foreclosed property does not need to wait the 90 days before they can sell it to a buyer who is using a government backed loan. The Federal government wants to encourage people with money to buy these bank-owned properties, fix them up, and be able to sell them to the next buyer quickly. This is a great way to get the foreclosed properties that are hurting our neighborhoods OFF the market! Hats off to our government for this one!
Let me know your thoughts on this.... -Jenny
There are some great inexpensive design tips in this video... check it out. (I like the way she made a custom looking carpet!).
In the last few months I have mentioned more than once that it is a good time to purchase a home. If it's been awhile since your last purchase or if this is your first purchase; here is a list of things that you must do as you start this process...
1. GET QUALIFIED! You need to know what you can afford. A mortgage broker/lender will be able to give you the amount you can spend and what your monthly payment would be.
2. Pick a LOCATION! Without knowing where you want to live - you will be floundering for quite some time. If you are new to the Phoenix area, choose a distance from where you work and use that as a radius for the circle you want to stay within. If you are a newcomer - it is good to see a few different areas then pick your favorite and stick with it.
3. Decide how many bedrooms and bathrooms you need. Also, do you need a formal living room with separate family room? Do you want the master split from the other bedrooms? Do you need a formal dining room? Garage or carport? Here's where you need to get specific on what you can and can not live with.
4. How many square feet should the house be? How big does the lot need to be? Pool or no pool?
5. Do you need a turn-key home or can you have a fix-up home? You need to know yourself and your spouse for this question. Do you have the skills, money and time to fix up a home? If you work a lot, aren't good with a hammer and don't have extra money after purchasing the home - turn-key home is probably your answer.
6. What age home do you want? New build? Barely lived in? Or do you like the 70's style ranch homes? Do you want to look at bank owned homes? Short sales? Or do you want to buy from an actual owner-occupied home?
With so many homes on the market, buyers tend to think it will be very easy to find a home. It can be, but you will need to define what you are looking for and where. Without a clear definition and direction you will be looking at a lot of homes, burning a lot of gas, and using up a lot of time. If you are ready to buy- answer the above questions and then call a Realtor (ME!).
Have a great week.
Jenny B
A recent article in the Wall Street Journal states that the housing bottom is here. Nationally, the bottom was most likely in April. Are we finally hearing good news about the housing market from a major newspaper? Sounds like we are and I definitely agree! There has been an increase in buyer activity in the Valley over the last 45 days - more people looking and more buyers putting in offers. Phoenix continues to work out the problems of the foreclosure properties, but even those are moving off the market. As you read the Wall Street Journal article, you will see that the writer says we will not have another peak for 15 years. Please remember that he is speaking of National speculations, not specifically our Phoenix area. If you speak with many of the commercial real estate experts and economists in our area, they would say that Phoenix is set to have its next little "boom" around 2012. Yes, these are all speculations, but we must remember that these same experts called the current "bust" too. What should you do with this information? The saying goes... you make money on the purchase of an investment NOT the sale. Timing is everything and the time is now.
Have a great week. -Jenny
In the May issue of Phoenix Magazine they covered the "Best Place to Live" in the Phoenix area. Here are some of the places that were listed and the reason they were chosen...
Urban living-- Downtown Tempe
Can fit both the growing family and an empty-nester -- Chandler
You want to be a cowboy? -- Carefree/Cave Creek
Affordable, mature trees, and remodeling needed -- Woodlea and Coronado Neighborhoods, Phoenix
Season Ticket-Holder -- Glendale's Sports and Entertainment District (runner-up -- downtown Phoenix)
Rural feeling with lots of room for your horses -- Queen Creek
Single and looking -- Downtown Scottsdale
For that small town feel -- Verado, Buckeye
There are a many more listed, including where I live (Agritopia, Gilbert -- where they describe a very dog-friendly atmosphere with lots of walking paths. Coffee shop and restaurant on site as well). You can click on Phoenix Magazine and read the rest of their picks for 2008.
Have a great and SAFE Memorial Day weekend! -Jenny B
For those of you that live in Gilbert (like me), you all have heard of Joe's Real Barbecue restaurant on Gilbert Road. Well, Joe has another restaurant called, Joe's Farm Grill, located on the edge of the agritopia community on Ray and Higley Roads. Why is this important real estate news? It's really not, BUT Joes' Farm Grill will be featured on national TV tonight (Monday 5/19). The Food Network will feature the Gilbert eatery during an episode of Diners, Drive-Ins and Dives at 10 p.m, according to the network's Web site. Guy Fieri, the host of the show, came to Gilbert in December for the taping. Maybe some good national coverage of Gilbert will bring more buyers... ?? We can hope!
Have a great week.
Jenny B
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