HomeSmart, Metro Phoenix Real Estate
Charles SantAngelo, MBA
As the weather begins to cool down home owners start to see their heating bills increasing by the month. That’s why homes with energy efficient and environmentally friendly features are often a priority to buyers in search of homes on the market.
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As the partial government shutdown extended into week No. 2 and the deadline looms for the extension of the debt ceiling, some home buyers and sellers are getting worried about the potential impact on their real estate transactions.
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http://www.washingtonpost.com/blogs/where-we-live/wp/2013/10/10/2625/#
More than 100,000 houses stood vacant across metro Phoenix barely three years ago — roughly one of every 10. Today, it’s more like one out of every 100.
Where have all the empty houses gone? Abandoned properties pockmarked virtually every neighborhood in the region in 2010, when the housing crisis peaked.
For full article and video see: http://www.azcentral.com/business/realestate/articles/20130912phoenix-housing-market-new-issues.html
The Greater Phoenix housing market has been dominated by supply constraints for the last two years and it now looks as though this will continue for quite some time. The chronic shortage applies both to homes for purchase and homes for lease, though it is most severe for low priced homes i.e. under $200,000 for purchase. The most fundamental of the many drivers of the housing market is the balance between our population growth and the net number of homes added to the housing market supply.
For full article see: http://www.angjohnson.com/shortage-of-homes-to-sell-in-metro-phoenix-3-to-1/
You may have heard about investing in property tax liens. What are they? How do you buy them? What do you get for your money? As we all know, virtually all property in this state not owned by a government or charity is subject to a property tax. However, many people fail to pay their property taxes timely. When those property taxes are not paid, the County, in order to raise the funds necessary to provide service, sells liens to investors.
For full article see: http://www.asreb.com/skins/asreb/standard.aspx?elid=66&aid=314
Many of my clients are approaching me asking if they should modify or short sale. A year ago I would have said modifications are an urban legend. However, in 2013, the word “modification” may actually have some meaning. Mortgage modification is defined as a process where the terms of a mortgage are modified outside the original terms of the contract agreed to by the lender and borrower. That sounds simple enough, the trouble is finding a modification that (1) a borrower qualifies for and (2) makes financial sense.
For full article see http://www.asreb.com/skins/asreb/standard.aspx?elid=66&aid=315&SkipFlip=66
Arizona is becoming more relevant in the stock market again, thanks largely to real estate.
The number of public corporations headquartered in Arizona is growing for the first time in three years, helped by a spate of initial public offerings — including two so far this month.
Is it the start of a trend? That’s hard to say. There hasn’t been much of an overall spike lately in the number of U.S. companies selling shares for the first time despite a relentless climb for the stock market— the type of bullish backdrop that normally drives the new-issue market.
For full article see: http://www.azcentral.com/business/arizonaeconomy/articles/20130508ipo-arizona-wall-street-radar.html
Real estate has distinct momentum heading into 2013, with demand finally starting to catch up with supply and significantly fewer distressed properties weighing down the system. As 2012 wound down, the national vacancy rate for owned homes had dropped to 1.9% from a downturn high of 2.9%. That’s still above the 1.5% norm but nevertheless encouraging. The ever-optimistic National Association of Realtors predicts a 5% rise in median existing-home prices through 2013, though most forecasters see a more modest 3% upswing in real-estate prices.
Either way, the real-estate market is thawing, unless you’re living in such hard-hit areas as California’s Inland Empire or dodgier parts of the Rust Belt. With the new year upon us, here are 10 real-estate tips to see you through a more promising 2013.
For full article see: http://realestate.msn.com/10-tips-for-buying-and-selling-homes-in-2013
