Video 28: Have prices hit the bottom in the Tempe and Phoenix real estate market? Depends who you ask, which means nobody probably knows for sure. Banks seem to be manipulating prices, and who can blame them. If you have an opinion that differs from mine you can leave a comment or e-mail me Dean Ouellette.
Video 25: According to statistics over the last six months the Phoenix housing market has been slowly recovering up 12% since April. But one report recently has the projections of the market dropping 23% in the next eight months. I think I figured out who they came up with the number. You can see the story on the report from Channel 15. If you want to discuss the Phoenix real estate market you can leave a comment or e-mail me Dean Ouellette.
Video 14: We hear it all the time, why is my condo or house not selling? Well if you live in the Phoenix area the market can no longer be the reason you use to justify it, the reason is it is over priced! Either make improvements to justify the current asking price, or reduce the price to where it is competitive with the market. If you want to find out how much your house is worth email me Dean Ouellette.
As of 8:30 this morning, the Tempe housing market is down to only 64 active foreclosure units on the market. The number of Tempe condos on the foreclosure market is down to only 7, and all of them are now under the $230,000 price point. There is another wave of foreclosures expected to hit the market in the coming month that should raise the number significantly, but for now, the market is competitive.
So who is buying up these properties and what does it tell us about the market? There are a lot of first-time home buyers on the market right now, but the driving force of this market seems to be investors. These are not the same investors we saw in 2005-2006 who would buy a house and flip in in a week or month, these are investors who understand the market conditions of today and plan on using the house for a rental.
The investors in today’s market are the investors who understood 2005 was not a great time to buy a house as a long term investment. These investors see today’s prices though and are looking to grab as many properties as possible for long-term investing.
What does that tell us about today’s Tempe and Phoenix housing market? If you are not looking to make a quick buck, but looking for a great investment opportunity for your next home, now may be the time to get out there and look. Follow the professionals.
Here is a list of the current Tempe condo foreclosures and single family foreclosures. You can also check out a complete list of Phoenix area foreclosures that are currently on the market and and search within those results.
1) How to get your San Francisco property taxes lowered – You may not live in San Francisco, but these tips by Luba could help you too.
2) Phoenix housing market makes history – Not the history Phoenix wanted to make, it is the first Amercian city to have their home values cut in half.
3) Energy usage in your home – David Lorti takes a look at how much power some of your appliances are using in the standby position.
4) They’re advertising the $8,000 first-time homebuyer tax credit but you may not be eligible to claim it – Dan Green looks at some of the pitfalls to the tax credit.
5) Remember the $15K tax credit? House Republicans aren’t giving up yet – Jay Thompson takes a look at how the House Republicans are trying to bring back the $15,000 home buyer credit.
