The number of metro Phoenix luxury houses for sale is on the rise, something real estate analysts say is a good sign for the market because fewer of the houses are foreclosures or short-sale listings. At the beginning of April, there were 2,267 houses listed at $500,000 or more on the market, a 3 percent increase from March, according to the latest report from a local real estate firm and Arizona State University housing analyst Mike Orr. Of the upscale houses for sale, 90 were short sales. That compares … [Read more...]
Selling your home? The cards are in your favor
April 22, 2013 by Leave a Comment
Selling your home? In most parts of the country, you have finally regained the upper hand. So says Beth Braverman, CNN Money on April 8, 2013: 4:33 PM ET. To get your best price, though, you need to finesse your timing, list competitively and match your marketing strategy to local conditions. Lower your sights to make more money. Rising prices breed rising hopes: In a recent poll, brokers complained that 75% of homeowners think their agent's recommended listing price is too low. Pricing your property above … [Read more...]
Phoenix home values soar at the end of 2012 to lead nation
January 23, 2013 by Leave a Comment
According to Kristena Hansen, a reporter with Phoenix Business Journal, January 22, 2013 - The metro Phoenix housing market has long been known for its volatility, so it should be no surprise that it lived up to its reputation through the end of last year, posting the largest — by far — home-value gains in the nation. The latest figures released Tuesday by Zillow Inc. show Phoenix home values soared by 22.5 percent year-over-year during the last three months of 2012. That’s significantly better than the … [Read more...]
Six Reasons Housing Inventory Keeps Declining
January 23, 2013 by Leave a Comment
Source: Wall Street Journal, by Nick Timiraos - 1/22/13 Home sales in December dropped by 1% from November, the National Association of Realtors reported on Tuesday, but still stood nearly 13% above the levels of one year ago. That means home sales have risen from the year-ago month for 18 straight months. For 2012 as a whole, sales were up 9% to 4.65 million units, the highest annual total since 2007. Prices, meanwhile, are picking up because the number of homes for sale continues to drop despite the … [Read more...]
Rental Market’s Big Buyers
October 29, 2012 by Leave a Comment
Wall Street Journal, October 4, 2012 by: Craig Karmin, Robbie Whelan, Jeannette Neumann - Blackstone Group LP BX +0.07% has become the biggest U.S. investor in single-family rental homes by spending more than $1 billion since the start of 2012 to acquire more than 6,500 foreclosed houses in eight metropolitan areas, according to people briefed by Blackstone. The firm also is finalizing a loan for at least $300 million from Deutsche Bank to support this business, these people said. Numerous private-equity … [Read more...]
Scottsdale Homes For Sale Update
October 17, 2012 by Leave a Comment
Scottsdale continues to be a destination for both tourism and residency. The city offers Western character as well as world class high end shopping and nightlife. Scottsdale real estate encompasses both North Scottsdale with communities such as DC Ranch, Grayhawk, and Desert Ridge Lower Scottsdale with communities such as McCormick Ranch, Kierland, and Old Town. As a result, the real estate in Scottsdale continues to improve as our current market transitions from a distressed level into healthier territory. Some of … [Read more...]
Highlights From The Greater Phoenix Housing Report
October 12, 2012 by Leave a Comment
Mike Orr, who is Arizona State University's Director of Real Estate Theory & Practice at W.P. Carey School of Business, recently released his monthly report and there are some interesting & positive trends from his report. Here are some highlights that we thought were worth noting: The median sales price of single family homes is up 33.7% from $112,500 to $150,000 comparing August 2011 to August 2012 The average price per square foot on single family homes is up 24.6% from $77.53 to $96.02 comparing … [Read more...]
Morgan Stanley Predicts 7 to 9 Percent Growth in Housing
October 4, 2012 by Leave a Comment
Investment firm Morgan Stanley has high hopes for the housing market’s recovery this year and next. "We expect to see 2012 end with an increase of 7 to 9 percent for the year in aggregate home prices after considering seasonality effects for the remainder of the year, with the possibility of a 10 to 12 percent increase on the bullish side and a 4 to 6 percent increase as the bear case," according to Morgan Stanley analysts in its latest Housing Markets Insight report. "We view the bear case outcome to be … [Read more...]
Low Inventory Creating Buyer Frustration
October 2, 2012 by Leave a Comment
Low inventories of homes for-sale are becoming troubling to home buyers, Inman News reports. Almost every major market in the U.S. has posted double-digit decreases in for-sale listings. "The buyers tend to become a little frustrated as they are seeing homes that they want to 'think about' and before they can even get home to discuss it there are already multiple offers on the property," Sheri Moritz, a real estate broker with Keller Williams' Wake Home Team in Raleigh, N.C., told Inman News. In Raleigh, … [Read more...]
