You are here: Home / Archives for July 2009

Free Healthcare for All!

July 31, 2009 By Tempe Real Estate Agent

Local developers are promising free health care for all Phoenicians so long as the people of Phoenix allow them to build a beachfront casino/resort. If you have spent any time in Arizona, you may ask, which beach? Who cares?! Let’s not focus on little details and buy into their spiel. La Playa del Sol promises these lavish gifts:

  • “La Playa del Sol, Casino and SeaWorld Phoenix”
  • “Free Health Care for Everyone in Phoenix”
  • “Changing Focus from Downtown to Midtown: The Indian School Road Corridor”
  • “Phoenix Energy and Green Jobs”
  • “Phoenix Community Facilities Should Serve All Residents”
  • “Phoenix Mixed Use Development Nodes”

If you get a chance to peruse their website, you will see something that looks an awful lot like Dubai.  It’s not that I don’t want our city to look like Dubai. I just question the feasibility behind all these premises!  If nothing else, let’s stop this before it has any legs so we can save Shamu!  Somebody think of the whales!

Filed Under: All Real Estate

Tempe Foreclosure Listing – 1849 E Magdalena Dr

July 18, 2009 By Tempe Realtor


Bank owned property needs a new owner. Diving pool. Energy efficient A/C updated in 2005. New roof 2006. Workshop with extra storage. Large backyard, mature citrus in front and back, GE refrigerator. Sunken living room, formal dining room, family room w/fireplace, twin sinks in both baths, ceiling fans in all bedrooms and family room. Close to shopping, freeways, schools and ASU. Move in ready. One of the few REOs that shows pride of ownership.

Filed Under: All Real Estate Tagged With: ,

You shall not pass! (aka short sale approved!)

July 14, 2009 By Short Sale Specialist

Like Gandalf in the Lord of the Rings, I had to stop the bank from foreclosing on my client.  It took a lot of work, a lot of pleading, a lot of explaining, and there were tears here and there, but we finally have short sale approval.  I would venture to guess that my clients at 5827 E Fairfield, Mesa, AZ, 85205 are quite happy.  Not only will their credit not be tarnished with a foreclosure, but we have come to a peaceful resolution that makes the buyers, sellers, and the bank happy.  This would have been a perfect ending had the buyers still been around, but unfortunately, they had gone on to another property.  Such is the business when working with short sales.  Fortunately, when we put the property back on the market on Friday, we got two full priced offers today.  Are you facing foreclosure?  Do you want to short sale your home and prevent the havoc a foreclosure on your house will bring to your credit?  Let’s talk!

Filed Under: Short Sales Tagged With: , , ,

Foreclosure Step 1 – Cash for Keys

July 14, 2009 By Tempe Realtor

So I’ve got a new listing.  It’s not ready to go on the market yet.  Many things need to occur from trustee sale (the foreclosure action in the state of Arizona) until actual marketing.  The first thing I needed to do was inspect the property from the outside to verify its occupancy status.  If the property is vacant, I arrange for the property to be secured by changing all the locks on the property.  If it is still occupied, I need to approach the occupant.  Sometimes it’s occupied by renters, and other times, it will be the owner.  When I approach the occupant, we go over a “cash for keys” contract.  Essentially, they agree to leave the premises in clean condition by a specified date.  If they perform their end of the contract, they get the cash amount they were offered for leaving.  In addition to offering cash for keys, we investigate how far behind the owner was on HOA and gather property tax information.

This is all so exciting, isn’t it!  I imagine this is akin to the magician exposing the tricks of the trade.  Anyway, my goal is to inform you, the consumer.  Stay tuned for more information!

Filed Under: All Real Estate Tagged With:

New Tempe Foreclosure Listing

July 11, 2009 By Tempe Realtor

My friends, I just got my first foreclosure listing in Tempe.  I’ve had multiple bank listings in Phoenix, Mesa, and even as far as Sun City, but this is my first Tempe foreclosure listing.  I thought this would be an excellent opportunity to allow my loyal readers to see what it’s like in dealing with an REO property.  I will go through all the steps in a multi-post series.  The topics will include:

  • Cash for keys
  • Securing the property
  • Listing/Marketing
  • Negotiations
  • and more!

Stay tuned!

Filed Under: All Real Estate Tagged With: ,

Market Analysis for June 2009

July 11, 2009 By Tempe Realtor

Another month has gone by, and there has been little indication that things will slow down. We see many properties hit the market, and in just a few days, they are gone. Overall, our inventory has gone from 33,621 homes on the market to 27,002 homes. That’s a 20% drop in inventory.  We have gone from 5.52 months of supply to 4.66 months of supply in a very short time.  Additionally, 36.4% of homes are being bought in cash. Overall, 8291 homes sold in Phoenix metro in June.  That is up from 8176 in May.

Real Estate Market Analysis June 2009

Real Estate Market Analysis June 2009

Tempe Real Estate

Tempe specifically has gone from 7.55 months of inventory down to 6.32 months.  What was once 846 houses on the market has become 753 houses.  This is definitely consistent with what my clients have seen.  We have seen many homes that have offers before we even show it.  It certainly feels like 2005 all over again.  It’s gotten to the point that clients that really want to live in Tempe are buying regular resales.  Fortunately, traditional sales are now priced almost like foreclosures.

Real Estate Supply for June 2009

Real Estate Supply for June 2009

Phoenix Metro

Across the board, all the cities have seen a significant drop in supply while keeping demand constant.  Chandler and Gilbert have surpassed Phoenix in supply with 4.18 months and 4.21 months compared to 4.24 months.  Scottsdale and Paradise Valley continue to have longer supplies.  This makes sense as these are our two priciest cities.  Nonetheless, they’ve both had 3 months of supply decreased.

Active Pending Sold Inventory
Tempe 753 221 154 6.32
Chandler 1255 614 447 4.18
Gilbert 1216 731 462 4.21
Scottsdale 4438 784 615 8.49
Mesa 2509 1117 821 4.42
Ahwatukee 494 175 150 4.46
Paradise Valley 524 32 26 21.38
Phoenix 7112 3514 2506 4.24
Maricopa County 27002 11638 8291 4.66
Filed Under: All Real Estate Tagged With: , ,