Phoenix Urban Real Estate Blog

Expect more homes to be coming on the market. Banks have been holding back on foreclosures while they work issues with the Government over foreclosures abuses. Check out the whole story.

http://www.bloomberg.com/news/2012-02-09/foreclosure-deal-to-spur-new-wave-of-u-s-home-seizures-help-heal-market.html

It's important to understand when hearing a news story about housing prices going up or down what they story is talking about. There's the National Market and the Metro Phoenix Market and they are very often different. Also, note if the story is talking about a change from Month to Month or Year to Year.



Now that I covered that, National values are down 1.3% from Oct 2011 to Nov 2011 and down 3.7% from Nov 2010 to Nov 2011. However, Phoenix Metro is up .6% from Oct 2011 to Nov 2011 and down 3.6% Nov 2010 to Nov 2011.

It's important to understand when hearing a news story about housing prices going up or down what they story is talking about. There's the National Market and the Metro Phoenix Market and they are very often different. Also, note if the story is talking about a change from Month to Month or Year to Year.



Now that I covered that, National values are down 1.3% from Oct 2011 to Nov 2011 and down 3.7% from Nov 2010 to Nov 2011. However, Phoenix Metro is up .6% from Oct 2011 to Nov 2011 and down 3.6% Nov 2010 to Nov 2011.

http://money.cnn.com/2012/01/31/real_estate/home_prices/index.htm

Home values are down around the country. Phoenix is the only metro city where home values went up from Oct 2011 to Nov 2011. Although they are only up .6% but every other metro area they went down. Of course, we are down 3.6% from Nov of 2010. Prices seem to be leveling out at the bottom but don't expect any big increases for a while. Here's the whole story from cnn.com. http://money.cnn.com/2012/01/ ​31/real_estate/home_prices/​index.htm?iid=HP_LN

My Real Estate Selling Style? Many of you know me and know my selling style, but I thought I summarize it for those who may not. In two words, I'd say I'm "low pressure". I like to let you set the tempo. I can send you an email with listings that fit your criteria and I won't go a dime over what YOU set as your price limit. Or, if you like to meet, you can join me in my office and we can go through MLS together and talk about the communities, areas of town, shopping locations and so on. The first time we go out is an day of education. This is a great time for you to see communities and the difference between how a property looks in the picture and reality. Sometimes one doesn't resemble the other. If I don't call you every day, please don't think I forgot about you, I know you're busy and will contact me. I might send a short email occasionally to say hi but no pressure and no stress. I truly love what I do and enjoy the time I spend with my clients/friends, many times you become one and the same.

Home prices up and inventory is down from Jan 2, 2011 to Jan 2, 2012.

http://www.deptofnumbers.com/asking-prices/arizona/phoenix/

NAU to open a physician-assistant program and a physical-therapy program in Downtown Phoenix on the UofA Medical School Campus. http://www.azcentral.com/community/phoenix/articles/2012/01/08/20120108nau-phoenix-downtown-campus.html

2011 was a tough year for real estate but I think it ended on a high note. Residential property values were mostly stable for the Phoenix area. Oh, I know you'll hear in the press that values went down and they did, somewhere around 1%, which is statistically flat. I am very optimistic 2012 will be a much better year for sales. Values aren't expected to go up by anything measurable and interest rates just dropped again. For those who lost a property to foreclosure or short sale you have 3 and 2 years respectively before you can get another loan, so if you experienced one of those in 2009 or 2010, you could get a loan in 2012. Certainly something to think about.

While home values continue to be really low and even declining in the US overall, Metro Phoenix home values are "a little" more stable. Interest rates continue to be the lowest in history. http://money.cnn.com/pf/loan_center/index.html

While home values continue to be really low and even declining in the US overall, Metro Phoenix home values are "a little" more stable. Interest rates continue to be the lowest in history. http://money.cnn.com/pf/loan_center/index.html