The Phoenix Real Estate Advisor

If you listen to the same media (local and national) that I do, you might be surprised to hear that prices have actually been climbing. Most of the stories surround the existing housing crisis, Freedie Mae/Mac and very little about any good news.

For the most part, YES we do have a problem and of course we need help getting out of it but what you might not be hearing is how the inventory-to-sales has gotten better. How the median housing prices have been climbing for 4 months straight.

Here’s the statement from NAR-

According to NAR statistics, the median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another indicator, the mean home price (otherwise known as the average home price), has also shown strength and has risen from a low of $242,000 also in February of this year to $253,100, a rise of $11,100 or 4.5%. It, too, has risen every month since February of this year.

On my last Podcast I covered the market conditions here in Phoenix. Things have gotten better but we still have a ways to go so “Is now the time to buy?”. Should you wait to see what happens? All I can say is the media is always months behind the curve so your attempts to time the market should not be dependent on the media. Feel free to call or email me for more information on specific markets and watch for my next Podcast for more information!

We’ve heard a lot fromm people that “Investors” is what started this housing crisis. Most of us that work with short sales and foreclosure know this to not be true. We’ve understood that the vast majority are people like me and you that simply can not afford their home. Here’s an article from AZ Central that speaks to this subject: 

A group that works with people who “walk away” from homes instead of fighting to keep them out of foreclosure has released its first data. Almost 30 percent of the homeowners who contacted it from Arizona have other mailing addresses or own other homes, according to Carlsbad, Calif. You Walk Away. . That signals they are most likely investors. The figures, which have been compiled since the beginning of the year, show almost 50 percent of the people who are “walking away” in Florida are investors.  The top state for residents who contacted the firm is California. Then it was Florida, Nevada and Arizona at no.4. Those four states have much in common - the biggest speculator-driven home price run ups in 2004-05, and the fastest rising foreclosure rates now.

The firm tracking the trend says the figures show the majority of people considering walking away are primary homeowners, so the trend isn’t being fueled by speculators. However, the data is only from the beginning of the year. Some housing analysts believe speculators were the first to ”walk away” in Arizona when foreclosures started to really climb last summer. http://www.azcentral.com/members/Blog/CatherineReagor/26985

This means that 66% of the homes are owned by people that need help because they’ve gotten in over their head either by risky loans or loss of employement. This is why I’ve formed the group www.PhoenixHomeRescue.org, call us if you have questions 623.271.4234.

One thing Arizona is not proud of - we rank #1 in Identity Theft in the country. It’s a growing problem for a lot of people around the country and is not going away. I’m sure if you asked your friends/family you’d find that either they or someone they know has been a victim of this.  Don’t think you could become a victim? Here’s a few ways it can happen…do you do any of these?

• Do you hand your credit card to servers at restaurants?
• Do you supply personal information over the internet?
• Do you keep your social security number in your wallet or purse?
• Do you leave mail at your home or business for the postal carrier to collect?

I think that pretty much covers all of us, so what can you do to safeguard your credit? One way is to hire a company that specializes in protecting you like IdentityTheft Shield. They offer a full Identity Restoration program that will help restore your credit and good name when it’s under assault. They do an intial credit report, continuously monitor your credit and employ Licensesd Investigators that will work on your behalf when you need it most. All at a very affordable cost, usually less the $13 a month.

For more information about this great service please contact Glenn Reible at 480.272.0899 or email him at identitytheftsource@cox.net. Tell him Jay at RE/MAX sent you!

Not only do I enjoy living in the community of Trilogy at Vistancia, I also enjoy selling homes here. I had a buyer in from Florida this week that is looking to make a move to Arizona and get away from the humidity and hurricanes of Florida. They looked at a lot of homes from Buckeye, Surprise, Goodyear all the way up to Cave Creek, and Anthem in the far north valley.

After looking at homes in what you would consider “family communities” I decided to show them what an active adult community looks like. Of course Trilogy at Vistancia is not your typical retirement community. The majority of owners here still have a “day job” of some sort. With the 45 and up rule, there are a lot of us that enjoy this resort style living (pools, club, activities, etc.) and still work full time.

After seeing Trilogy, they loved this area and are considering a home here. They loved the same things most of us did when we looked for the first time. As you enter the community you pass the golf club, waterfalls and the guarded gatehouse. Once inside the community the palm trees and golf course give you that “I’m living in a resort” feeling and the clubhouse offers many amenities like indoor and outdoor pools, tennis courts, bocce ball courts and a 5-mile walking trial.

Bottom line - if you’re ready to make a move to a resort community in Arizona that offers shopping just minutes away and a quick 30-45 minute to downtown then Trilogy at Vistancia may be for you. For more information on new built homes as well as existing homes for sale please email or call me and I’d be happy to send you information. Ask about my special incentives for using my services in this community!

I had an email come in today asking about fissures and buying a home in Arizona. They wanted to know how to find the problem areas. Their goal, of course, to make sure they didn’t purchase a home in the Phoenix area that would have troubles.

First, what is a fissure? Earth fissures are associated with basin subsidence that accompanies extensive ground water mining.  In Arizona, fissures were first noted near Eloy in 1929.  Their physical appearance varies greatly, but they may be more than a mile in length, up to 15 ft wide, and 100s of feet deep.  During torrential rains they erode rapidly presenting a substantial hazard to people and infrastructure.   Moreover, fissures provide a ready conduit to deliver runoff and contaminated waters to basin aquifers.  Rapid population growth in southern Arizona is increasingly intruding on population centers and fissures.

It’s not as easy as you might think to find known fissure areas, although the state is trying to make maps available that point to trouble areas. Here’s a couple of websites the state has developed to help us:

1. http://www.azgs.az.gov/

2. http://azmap.org/fissures

Remember to do your homework before you choose an area to purchase!