Why do home builders in Phoenix continue to build houses? Who is in charge of building more homes here in the valley? And why do they allow their builders to create more homes in a market full of new and resale homes?   I can understand building more homes if the demand for the homes is high. However, right now people who are buying do not need an abundance of homes. I have seen too many buyers forget which house they liked and which ones they hated because they saw too many homes.   In fact, most buyers are having trouble understanding the basic concept of a buyers market and the benefits of buying a home today. I have explained to countless clients the benefits of today's market only to have them discount each one of them.   More over, lender owned properties/foreclosures are also a... 07/30/2008

Over the last few years the population for Phoenix, Arizona has exploded. Due to themass exodus out of the NorthEast, and Midwest, states such as Florida, Texas, and Arizona have seen big population increases. Its no wonder that currently HomeBuyersRelocationService.com is receiving on average 15-20 home buyer relocation reqeusts per day! Since the foreclosure crisis started, Phoenix has taken a pretty hard hit. Besides various cities in Florida, and Las Vegas, Phoenix has been hit one of the hardest. But this is actually great news for relocating families. The medium home price for Phoenix in the beginning of 2008 was only $287,000. Lots of jobs, strong home values, and location is the reason why so many people are wanting to relocate to Phoenix! If you would like to work with these re... 07/29/2008

what can I say, the glass is half full. Right ??  According to the S&P| Case-Shiller , private housing index shows home prices dropping by a record amount nationwide - " Home prices tumbled by the steepest rate ever in May, according to a closely watched housing index released Tuesday, as the housing slump deepened nationwide. The Standard & Poor's/Case-Shiller 20-city index dropped by 15.8 percent in May compared with a year ago, a record decline since its inception in 2000. The 10-city index plunged 16.9 percent, its biggest decline in its 21-year history." No city in the Case-Shiller 20-city index saw price gains in May, the second straight month that's happened In Arizona, we say record declines as the glut of short-sales, bank owned homes and foreclosures have crippled pricing comp... 07/29/2008

The Quarterly Survey of Housing Data from the Wall Street Journal is summarized in a useful interactive table titled "Housing Inventory Falling, But Outlook is Bleak." Yeah, well, not much we didn't already know in the title, but the chart shows key economic and real estate market data for 28 major US metropolitan areas all on one page in an easy to comprehend format. I'll be referring back to this link from time to time, that's for sure. One point of note for those of us here in Phoenix, Arizona. The table shows a 13 month supply of homes on the market here, which is stil solid "buyers market" territory, but we're far from the worst. Take a look at Orlando and Tampa, and wow, Miami/Ft. Lauderdale tops the charts with a whopping 37 month supply! 07/29/2008

Yes, you are reading correctly. Mike Clancy of the Arizona Republic reported that ....  "The Arizona State Land Development has closed another record breaking year with $372 million of real estate sales:. However, unlike past years, the majority of sales were not to real estate developers. The sales were primarily to schools, preserves, utility companies and other municipal projects.   And guess who paid for all this land you might ask???  You guessed it, You , the tax payer.   Now I have no problem with Phoenix area municipalities buying land for schools and other projects or the $107 million Phoenix paid for land in Northwest Phoenix near the Desert Ridge and 101 loop. However, Mr. Clancy reported that of the the 13 land slaes, six were postponed or cancelled (due to no qualifying bid... 07/28/2008

Buy Phoenix Arizona Short Sales. Sell Phoenix Arizona Shot Sales. WE HELP SELL or BUY SHORT SALES in Phoenix and Surrunding Cities.  View ALL Short Sales & FORECLOSURES in Phoenix here right now NEED to SELL Fast in Phoenix? Sell Your Phoenix Arizona Home Short! Is your home in Chandler, Gilbert, Scottsdale, Laveen, Glendale, Peoria, Mesa, Avondale, Tolleson, El Mirage, Queen Creek, Goodyear, Tempe, or Fountain Hills? We WILL get it SOLD. Don't FORECLOSE on your home. Click below                        RES RES 1 Active   $149,999 Phoenix  Short Sale   fell out of escrow! Just needs a good cleaning. Short Sale! Nice 4bd 2bath with a sparkling pool in nice family neighborhood. Built in Entertainment Center, Radiant Range in Kitchen. Nice Property and a Great Price. Short Sale! Negotiator ... 07/24/2008

Phoenix Foreclosures with POOL Here, All Phoenix Pool Foreclosures TODAY. See ALL Phoenix Foreclosures. To see interactive Phoenix Foreclosures with a POOL click this RSS Feed Below     RES RES 1 Active   $109,900 Phoenix  Phoenix Foreclosure Property  Foreclosure SOLD 'AS IS'. PROPERTY IS LOCATED ON THE EDGE OF A CUL-DE-SAC WITH A DIVING POOL. HOME HAS A NICE OPEN FLOORPLAN. FIREPLACE IN GREAT ROOM. ALL BUYERS MUST BE PREQUALIFIED THROUGH COUNTRYWIDE BUT YOU MAY USE YOUR OWN LENDER.  91ST AVE AND THOMAS  1995  2 Active   $134,900 Phoenix  Phoenix Foreclosure Property  FORECLOSURE BANK OWNED PROPERTY!!!PROFESSIONAL LANDSCAPED FRONT AND BACK YARD. GREAT HOME WAITING FOR A FAMILY TO ENJOY THE PEBBLE TEC POOL THIS SUMMER. BANK HAS JUST PUT NEW CARPET AND PAD IN BEDROOMS. NICE OPEN FLOOR PL... 07/24/2008

Foreclosure properties in Phoenix at 100K. Here are 80 Foreclosure homes in Phoenix Arizona from 100-105K. See ALL NOW. Lender Owned Steals in this crazy market. The best buying market in over 50 years.   RES RES 1 Active   $100,000 Phoenix  Lender Owned Property  CORPORATE OWNED FORECLOSURE***Great bones on this well located property; Near freeways and amenities; Extra large lot; CarPort is converted into an enclosed room with kitchenette & full bathroom (refrigerator incl) with separate entrance from front exterior; With some TLC this home will make the perfect family home or investment. Compare price/sqft in neighborhood and make an offer!  OSBORN & 24TH ST  1957  2 Active   $100,000 Phoenix  Lender Owned Property  Large lot. Garage was converted to 4th bedroom (not on tax records) P... 07/24/2008

 Phoenix foreclosures under 50K today. See all Phoenix Foreclosures and homes under 50K. Phoenix Arizona Foreclosures at the lowest prices.  Interactive and up to date Phoenix Foreclosures under 50K  below There are some great homes under 50K in the 4th largest city in the country below. Foreclosoures, Lender owned, Bank Owned, REO, they all mean the same thing.......GREAT BUYS in our marketplace. Don't miss a great chance to buy LOW. FORECLOSURES IN PHOENIX   RES RES 1 Active   $19,900 Home has had a fire...Home is pretty much burned out ,Block construction ....Bank Owned property,Sold As-Is, No Spuds or Clue report... NICE LOT.....$19,900......  1249  Thomas & 37th Ave  2 Active   $25,500 SOLD 'AS IS'! HUGE LOT!!! HOME DAMAGED SIGNIFICANTLY DUE TO FIRE.  552  7TH ST. & BROADWAY  3 Act... 07/24/2008

The Phoenix metro area's strong seller market from 2005 has gone to a complete reversal in 2008. The large amount of supply has created a buyer's market with record inventory levels. Prices have declined approximately 14% year over year. I anticipate 2008 to continue as a year for correction, with the market starting to recover and sure enough, March came in like a Lion and we are maintaining that stronger trend!! Closed sales are continuing to increase each month with 5,725 sold homes in June, a 2% increase over May's closes sales. Pending and under contract sales are very strong at about 8,976. Now is the time to buy while the bargain prices are still out there!  The inventory is great, prices are amazing, and many sellers, including banks, are willing to provide down payment and/or c... 07/23/2008

Home prices dropped 4.8% in may down from May of 2007 according to a government report released earlier today.  The report issued by the Office of Federal Housing Enterprise Oversight (OFHEO) also says prices, on a seasonally adjusted basis, "fell 0.3 percent from April to May. The index is down almost 5 percent from its peak in April of last year." The OFHEO is also the governement agency that oversees the government-sponsored mortgage-finance companies Fannie Mae and Freddie Mac. The reason I mention the Fannie Mae and Freddie Mac relationship is that those 2 company's stock has traded upward on Wall Street in spite of its troubles and this news . In my humble opinion, I do not think we are completely out of the woods. However, the fact that Wall Sreet sees that the worst is out there... 07/22/2008

If, after reading this month’s edition of PCREN&M, you are motivated by curiosity to search its text for the phrase Mortgages Ltd., you will find (by my count) 89 occurrences! Although this is only the second edition of my Scoop column, I have been compiling these real estate news articles since January 2006. To date I have not been motivated to make such a count as there has never been a single story line that seemed to dominate a month’s real estate news like the on–going saga of Mortgages Ltd. Commercial real estate acquisition or development loans have become decidedly more difficult to obtain as lenders have tightened up their lending underwriting practices in the wake of the current economic slowdown. They are looking for developers to hav... 07/22/2008

In this month’s edition of Phoenix Commercial Real Estate News & More I postulated on why The Sky Is Not Falling on the Phoenix commercial real estate market. Although I still believe that premise is true a closer examination is in order. For those of my readers who have been receiving Deals This Month (the previous incarnation of Phoenix Commercial Real Estate Deals & More) since its inception in August 2007 I have reported on an average of 26 sales transactions per month from August 2007 through March 2008. The April and May editions contained 14 and 16 transactions respectively—a 42% decrease from the average number of historical transactions. So what’s going on? First and foremost none of my investor clients have told me they are pulling the... 07/22/2008

Hidden in plan sight amidst all the newswire headlines that we all have seen and come to expect about the Phoenix marketplace over at least the past three quarters—Home Foreclosures Up • Fewer People Moving to Arizona • Median Home Prices Drop • Arizona Is In Recession • Commercial Vacancy Rates Are Rising • Prices Are Slashed—are signs that the sky is not falling. In this month’s issue of Phoenix Commercial Real Estate News & More are stories on several new investments and projects by Valley development superstars whose track records convince me that they know what they are doing when it comes to commercial development in Phoenix. These names include Kitchell, Westcor, Vestar, Dial, Ryan, and DeBartolo. In my mind the most unexpected headlines comes from a resident... 07/22/2008

just hours ago, the nations 4th largest bank , Wachovia is leaving the wholesale mortgage lending business , .."Beginning July 25,  (Wachovia) will no longer offer mortgages through brokers"              This is a crushing blow to the mortgage business as Wachovia joins BankAmerica as 2 of the nations alrgest banks to no longer offer loans through brokers. Both companies will still offer loans through in-hous mortgae lenders and loan officers. The question that is being raised is the fate of mortgage brokers? With increased scrutiny on compliance and the lower costs able to be offered in-house, will all banks eventually go the way of National City mortgage, Bank America and now Wachovia ??? ...and no longer offer their lines to 3rd party mortgage brokers? I firmly believe that industry ... 07/21/2008

I had the opportunity to experience the "Summer Splash" promotion at the Pointe Hilton Squaw Peak in Phoenix last weekend. The resort was full of families enjoying the special and the large number of amenities the hotel has to offer. The focal point of the action is the River Ranch pool complex where there are multiple pools, a waterfall, a lazy river, waterslides, kiddie pool and more. On Friday nights, they offer "Dive-In Movies"  - we got to see Shark Tale - and on Saturday nights there is a Family Fiesta Night complete with Taco Bar. If you want to get away from all of the activity of River Ranch, there are a number of smaller pools sprinkled throughout the resort. The Pointe Hilton Squaw Peak also features mini-golf, tennis, dining, shopping, spa treatments and more. The Summer Spl... 07/21/2008

Andrew Monaghan | The Monaghan Group | 602-308-4660 2207 W Berridge LN, Phoenix, AZ 3BR/1.5BA Single Family House offered at $198,900 Year Built 1958 Sq Footage 1,547 Bedrooms 3 Bathrooms 1 full, 1 partial Floors 1 Parking 2 Covered spaces Lot Size 7,540 sqft HOA/Maint $0 per month DESCRIPTION This is your opportunity to purchase a move in ready home on a mature established neighborhood with pool for under $200K! As you arrive at your new home you are met by the manicured front lawn and mature trees. Enter into the formal living room and move into the family room and kitchen, 3-nice sized bedrooms and 2-bathrooms round out the rest of the home. As you move into the backyard you are greeted by a play pool, the pool equipment and AC-unit are newer. ---Call to view this wonderful home tod... 07/19/2008

A just released report stated that "Federal Reserve officials argued at the closed door meeting last month that" ... FED banking officials saw "Rate Hikes Coming Soon!"                           At the June Meeting, The Federal Reserve Board voted to keep interest rates the same. The first time in 7 meetings and since the fall of last year that interest rates were not cut. However, several "members said the Fed had aggressively cut rates to 2% to guard against downside risks to growth and now that these risks had "diminished". " Other FED officials said financial conditions were still too fragile and borrowing costs were higher for consumers than before the Fed starting cutting rates last fall. The FED officials who make interest rate policy are clearly divided ! I beleive that we need ... 07/18/2008

Michael Clancy of the The Republic and AZcentral.com recentely reported ...  that the the Mulit-Billion dollar project "CityNorth" (northeast part of Phoenix) near Desert Ridge (loop 101 & 56th st.) has added 10 high quality retailers and several restaurants. The first phase of CityNorth,   called High Street,   is scheduled to open November 13th and according to the article will have 44 retail stores and 7 restaurants. The project will also have office space and condos. However, the details are yet to be released. City North will be a huge boon to an already burgeoning area that has seen a tremendous amount of real estate development (commercial and residential) over the past several years. In my opinion, this is not a bet or a gamble by the billions of dollars behind the CityNorth pro... 07/15/2008

Willow Square StealLocation: Phoenix, AZGREAT HOME, GREAT PRICE. This home has TILE floors throughout most of the house. There is a COVERED PATIO with HAND LAID brick floor. Both yards are SPACIOUS and have excellent potential. The front of the home has an automatic sprinkler system. Additional square feet not found in tax records. ALL APPLIANCES SUCH AS, THE WASHER, DRYER, STOVE/RANGE, REFRIGERATOR, MICROWAVE WILL ONLY CONVEY WITH A FULL PRICE OFFER. Brand new WASHER, DRYER, and Microwave. Refrigerator and stove/range are fairly new as well. Evaporative cooler is 1 year old. DOGS IN BACKYARD!!!! DO NOT ENTER. SEE THE BACK OF HOME FROM THE ALLEY. Needs some TLC. InformationContact Information Ulises Romo602-380-4890Contact Reply FormForward to a FriendView Other FlyersPricingAsking Pric... 07/12/2008