Scottsdale, Arizona Real Estate

January 11th, 2021 by admin No comments »

Many home owners in Arizona are facing tough times because of several underlying issues that home owners may or may not be aware of. An Executive Sales Associate with Coldwell Banker Residential Brokerage wants to discuss these issues so that you have useful information to make an informed decision about your future regarding Real Estate in Arizona. Do what you will with this information. This is one Real Estate Agents opinion and makes no guarantees. Market conditions are impossible to forecast. This article is designed to tell you what has been happening in the past, and where we are today regarding Arizona Real Estate issues.

Now may be an excellent time to purchase a home in Arizona. The interests rates are good, the prices are low, and sellers are giving amazing incentives. There is now way to determine if the prices have fallen as far as they are going to go, but home prices seem to be leveling out. Home builders in Arizona are still building massive communities on the outskirts of Phoenix, Mesa, Buckeye, Chandler, and Casa Grande. Builders would not be building if people were not buying these homes. Yes, the builders are giving great incentives. Residential re-seller’s are also giving great incentives because they are imitating the builder incentives.

Home buyers in Arizona are facing a complicated decision right now. Should they live sixty miles from work and pay two hundred thousand dollars for a home, or should they live ten miles from work and pay three hundred thousand dollars for a home? When making this decision, it would be best to calculate how much money you will spend on gas, how much your vehicle will depreciate because of the amount of miles you are putting on your car, how much time you will spend away from family with a long commute, and how much traffic you are willing to put up with. It would be wise to do a mathematical calculation on these factors versus a higher mortgage payment to see which would make more sense financially. However, other factors will be involved such as school districts and amenities.

Buying a home in Arizona is getting more difficult. Lenders are raising the bar because of the drastic increase in foreclosures. When there is a high percentage rate of foreclosures, lenders must raise their standards to protect their investments. Someone thinking about purchasing a home in Arizona will need a series of qualifications to get into a home loan such as a good work history, a descent credit score, and a good debt to income ratio. Lenders are requiring higher credit scores, more income, and longer work histories given the recent foreclosure rates. Lenders are also requiring more documentation on your assets and liabilities.

When lenders raise the bar, not as many people can qualify to purchase a home. This, combined with builders and sellers flooding the market with home listings, is creating an overall slow down of the market because the public’s confidence has weakened. The growth in Arizona is still phenomenal. Arizona is now the number one growing state in the entire United States.

If you are thinking about purchase a home, now may be the best time with the current interest rates, and the amazing incentives available. It is extremely common for people to get into homes with zero down. If you are a seller, now may not be the best time to put your home on the market. If you have to move, consider renting your home out to a good tenant. A qualified Realtor will be able to help you put your home on the market for lease. Lease option purchases are also becoming very popular in Arizona. They are designed to help a person that does not yet qualify for a home have a possibility of purchasing your home at the end of the term of the lease. This gives someone time to clean up their credit issues. However, a lease option purchase does not guarantee that the tenant must buy your home, they just have the option.

There is a link below, a website developed by an Executive Sales Associate with Coldwell Banker Residential Brokerage, that is truly helpful and is designed to educate the public. Definitely take a look at the website if you have been thinking about buying or selling a home in Scottsdale, Phoenix, or any other city in Arizona If you choose Coldwell Banker Residential Brokerage to represent you in a Real Estate transaction, of course they are going to make money. That is not a secret. The seller always pays both the buying and selling Real Estate professionals. When you are the buyer, you do not pay a Realtor. Choosing the right firm to represent your best interests is of paramount importance. Coldwell Banker Residential Brokerage makes it mandatory for their Realtors to get proper education and training. They take the time to train their Realtors properly so that your best interests are always number one.

Must Have Animal Repellents: Guard Alaska Bear Spray

December 15th, 2020 by admin No comments »

Let’s face it; there are not too many wild animals that we need to be concerned with in North America these days. Most of us live in areas where the wild animals we encounter consist of squirrels, raccoons, birds, chipmunks and maybe the occasional Garter snake. Not only are these animals going to run from you in skittish terror the second you approach them but even if one was to attack I think it is safe to say that an able bodied human could probably survive a squirrel attack relatively unharmed (unless of course the fury little assailant has rabies).

There is one animal however that I see sometimes when I go camping up north and it is a truly beautiful yet terrifying creature. It is an animal that I make sure I am prepared for and that animal is a bear. I have seen black bears on a handful of occasions when camping in northern Wisconsin and although I’ve never been in real imminent danger of one charging I am wise enough to understand that it can be just a matter of time before I find myself in a life-threatening situation with one of these beautiful beasts. This understanding is what has led me to always make sure I pack (and more importantly carry) a can of Guard Alaska bear spray whenever I go camping or hiking in bear populated areas. For me personally, it just makes sense to take the extra 2 minutes to pack the bear spray when the risk of not taking it could mean me being mauled to death by a 400 pound black bear.

Guard Alaska bear spray is great because not only is it the most effective bear spray available but is also the safest for the environment. There are absolutely no ozone depleting chemicals in Guard Alaska spray and this should be of great importance to anyone that enjoys camping, hiking or just enjoying nature. If we love nature so much let us not destroy it by using chemicals that are harmful to the very thing we hold so dear. Another nice thing about this particular bear spray is that it is safe for the bear. Bears do not attack because they are blood thirsty man eaters. They usually attack because they feel they are being threatened or that their cubs are being threatened in some way, that is why one of the worst situations to be in is to find yourself between a mother bear and her cubs. They are usually gentle creatures that we must find a way to coexist with and that is exactly why I choose Guard Alaska. It is effective enough to thwart off even the biggest bears but won’t leave that bear with any permanent damage after the initial burning sensation wears off.

Arizona Real Estate Contracts and the Statute of Frauds

December 6th, 2020 by admin No comments »

General principles of Arizona contract law simply require the existence of an offer, acceptance, consideration, and sufficient specificity of the terms in order to have an enforceable contract. This is true whether or not the parties write out the terms and/or sign a written document.

This is not the case when the contract concerns the sale of real property. There, the Statute of Frauds as codified in Arizona (ARS 44-101(6)) demands that contracts for the sale of real property be written and signed in order to be enforceable.

It is important to note, however, that the Arizona courts have consistently held that only the signature of the “party to be charged” is required. In other words, the contract must be signed by the party against whom enforcement is sought but does not necessarily have to be signed by the charging party. For example, a seller of real estate who never signed the sales contract may successfully maintain an action against a buyer who did sign the contract.

The parties to an Arizona real estate contract should also remember that any amendments to the contract must also be written and signed to be enforceable. Because of the requirements of the Statute of Frauds, parties buying or selling real estate in Arizona are advised to demand written confirmation of all the terms and conditions of the real estate transaction. Frequently, agents and brokers may make representations and assurances to buyers and sellers and suggest that a written modification is unnecessary. Buyers and sellers should avoid the temptation to rely upon such assurances and ensure that all important matters are reduced to writing and signed by the other party.

Unfortunately, many Arizona real estate contracts are not written and/or signed and one or more parties find themselves with a need to seek relief from another party. If you find yourself facing such a situation you should consult with an experienced Arizona real estate lawyer as soon as possible to determine whether an exception to the Statute of Frauds might apply, or if some other legal recourse is available.

Kevin R. Harper is an Arizona real estate and business litigation attorney, representing individuals and small businesses throughout the state of Arizona from his centrally-located office at 1 N. Central Ave., Suite 1130, in downtown Phoenix.

Arizona Real Estate Law – Using a Partition Action to Resolve an Ownership Dispute

November 23rd, 2020 by admin No comments »

It is a frequent occurrence that people who jointly own Arizona real estate find themselves unable to agree about whether to sell and/or how to manage the property. When that happens the Arizona Revised Statutes provide a mechanism whereby one of the owners of the property may compel the sale of the property and distribution of the resulting proceeds.

The partition statute, set forth at A.R.S. Section 12-1211 et seq., provides for the appointment of one or more “commissioners” who are charged with selling the property. If the property can be physically partitioned by dividing it into equitable portions, an owner who wishes to retain ownership of his or her share may be able to do so. In most cases involving single family homes or other properties that are generally not divisible, however, the property will have to be sold and the proceeds distributed.

The commissioner(s) appointed to manage this process will usually be Arizona real estate brokers or other similar professionals who are uniquely qualified to prepare the property for partition and/or sale. Although the court can make whatever order is deemed fair and necessary, the commissioner(s) are usually compensated by receiving a sales commission.

In most cases partition actions do not involve defenses allowing on or more owners to block the sale (unless they want to buy out the other owner(s)). That being the case, partition actions that do not involve other related issues can be handled fairly quickly without excessive expense. Nonetheless, because an Arizona partition action must be filed in the Arizona Superior Court and must strictly comply with the statutory guidelines, a party seeking to force partition of a property or facing a partition complaint filed against him or her should seek professional advice.

An experienced Arizona real estate lawyer should be able to help guide you through a partition action. If you’d like to force a partition a lawyer can help make sure your partition complaint meets the statutory requirement and that the order compelling the partition provides the relief you seek. If a partition action has been filed against you an experienced Arizona real estate attorney can help make sure you receive an equitable hearing and distribution of any partition proceeds.

Kevin R. Harper is an Arizona real estate and business litigation attorney, representing individuals and small businesses throughout the state of Arizona from his Central Phoenix and Chandler, Arizona offices. His primary office is located at 1 N. Central Ave., Suite 1130, in downtown Phoenix.

Phoenix, Arizona Real Estate

November 5th, 2020 by admin No comments »

Phoenix is a nice residential city in the state of Arizona in United States. The capital city is the fifth largest in terms of US population, which is a pointer to the flourishing Phoenix real estate business in ‘The Valley of the Sun’. The Phoenix Metropolitan Statistical Area or MSA is officially dubbed as Phoenix-Mesa-Scottsdale because these three are the major Arizonan counties lying within the area. The city of Phoenix has been home to several well-known dignitaries and politicians. Being a cultural, industrial, economic, financial and transportation hub it is a preferred choice of residence in Arizona (US). Phoenix, Arizona real estate comprises of a network or recognized real estate agents.

Metropolitan Phoenix has earned its name as a place to find the best of affordably-priced new homes. The city has actually become a target of affluent home buyers because it is home to the coolest and most expensive homes. The Phoenix area housing options comprises of resale homes and condos featuring urban setup. Homes with backyard swimming pool are popular choice because of hot summers in Arizona. The housing options also include master-planned and gated communities, usually built around golf courses and active-adult communities. These communities feature homeowners associations and hence you are assured of a secured living. They have common swimming pools and recreational facilities.

If you are looking for a new home or planning to sell off your home you can take the help of Phoenix, Arizona real estate agents. You can find housing market information; right home value and Arizona mortgage rates. Phoenix is a place of tourism interest in Arizona and its warm climate in winter months makes it an ideal golfing destination. The real estate agents of Phoenix have listing of all the golf properties. In fact, Phoenix/ Scottsdale metropolitan area is a vibrant Fall and Winter paradise for many. This also spurs the demand of rented apartments.

Everyone is on the lookout for the best bargain for home sale and purchase. Phoenix real estate agents help in negotiating the right bargain for the home buyer. The licensed agents have databases which helps a client in house hunting. You can get information about luxury homes, condos and golf properties. You can also locate custom new homes.

Phoenix, Arizona real estate homes for sale are listed and located by the licensed brokers of the city. Their web portals have updated information, property purchase offers and all phoenix real estate listings of old and new property. You can get accurate information about prices of the available home and rental properties. It will take you on a virtual tour of Phoenix, Arizona property. These sites have contact information about Phoenix real estate guy; so you can clarify all your questions over phone or through personal appointment. The agents also provide Phoenix relocation information for people relocating to the city.

The lifestyle and need of the clients differ; it is in the responsibility of the Phoenix, Arizona estate agents to tailor the customer’s requirements and help them find home of their choice.

Arizona Real Estate

October 21st, 2020 by admin No comments »

Arizona, nicknamed as The Grand Canyon State, is located in the southwestern United States. It is best known for its desert landscape, scenic mountain ranges, sparkling waters and warm climate. Home to several race courses, holiday resorts and lush green golf courses, the state of Arizona boasts of a flourishing real estate market. Arizona real estate prices have gone through a continued rise over the past seven years. Therefore, the state attracts a plethora of real estate investors who wish to make a fortune through Arizona real estate investments.

There is an increasing demand for Arizona real estate, which in turn has led to its appreciation over time. Be it single-family homes, condominiums or business properties, prices have gone up for all kinds of real estate, and this upward trend seems quite sustained. A few major reasons behind this bullish trend are as follows:-

Arizona offers a multitude of recreational and sporting activities, such as hiking, fishing, golfing and horse riding. Affordable cost of living, calm and serene environment, relatively low taxes, and pleasant weather conditions have led to several retirees flocking to Arizona. In addition, several major businesses have relocated in Arizona.

Scottsdale, a city in Arizona, is one of the most sought after locations in United States. Scottsdale has a host of art galleries, museums, parks, grand prix tracks, open air theatres, polo fields and golf courses. Such factors make Arizona real estate a perfect investment avenue for real estate investors.

Though some properties in Scottsdale are rather high priced, most of Arizona real estate assets can be secured at reasonable costs. For instance, an average home in Phoenix would cost you around $300000. And considering the fact that home values have appreciated by 25% over the past 12 months, such an investment could well be regarded as a fruitful one.

All in all, Arizona real estate holds scads of opportunities for investors. It has managed to sustain an upward trend for the past several years, which is expected to continue well into the year 2007. With its preferable climatic conditions and booming economy, Arizona real estate is the perfect place to invest in 2007.

An Overall Warm Climate – Arizona Real Estate

October 13th, 2020 by admin No comments »

Unusual rock formations, panoramic views, and the unbelievable painted deserts, as well as the majestic sights of the Grand Canyon make for spectacular scenery in the Great State of Arizona. Rich in commerce and in environment, Arizona real estate is an ideal investment for homebuyers, businesses, and investors alike.

Boasting more than 300 days of sunshine annually, The Grand Canyon State has perfect atmosphere to enjoy. Although temperature fluctuations vary across the region, the majority of Arizona, is primarily a Biseasonal atmosphere. Although areas to the extreme north do experience quite a bit of cold weather in the winter months, mainly the state has an overall warm climate. It is this pleasant climate that encourages the northern ’snowbirds’ to come here to purchase desirable Arizona real estate.

While the median household income and the per capita income are nearly inline with the nation, the median value of homes is slightly higher, largely due to certain overpopulated and overdeveloped areas. The areas less populated and not maturely developed produce the best bargains in Arizona real estate.

Scenic views and pleasant climate are just two good rerasons to invest in arizona real estate. The progressive economy and adjacency to more advanced areas, also make Arizona a smart move. As a result of NAFTA, the economies have realized a boost, both privately and from government sources in developing the regional economies. The short distance to major metropolitan areas, like California and Nevada, has also provoked attention to the Arizona real estate market.

Recent growth in the Arizona real estate market has inflated prices in the prime areas, yet the less developed areas are becoming great bargains. For instance, the most desirable acreage will yield up to $80,000 per acre while rural Arizona real estate is selling in some cases less than $1000 per acre.

Even in our slow economy, it may seem unlikely that many people would be looking to build or buy a home in the near future. However, the FHA recently announced that it has made available loan programs for Arizona real estate buyers. The offering allows buyers to borrow up to $271,050 with 3.5% down payment and a very low FICO score requirement of 620. An added advantage is the Federal IRS tax credit for first time home owners, $7500 this year and expected to rise to $15000 next year.

Arizona Real Estate – A Perfect Place For Settlement

September 24th, 2020 by admin No comments »

Arizona, a large state in the Western United States, also known as Grand Canyon State, is famous for its astonishing landscapes, soaring mountain ranges, rivers, grasslands, forests and beautiful weather. Arizona valley constitutes of all these and makes it a perfect place for vacation, retirement, land investment or for permanent settlement.

Over the years, Arizona real estate has become the most sought after real estate in the United States. Real estate market of Arizona is huge and is one of the most commendable real estate markets in USA. The real estate in Arizona is full of luxury houses, apartments, buildings, beautiful decorated homes that draw attention not only from people of the United States but also from other countries.

For anyone planning some investment in the real estate market, Arizona real estate market is the ideal place to start. The state has witnessed record appreciation levels. Any sort of investments done in the commercial area, single-family home, rental apartment or retirement property, will be considered undoubtedly a perfect investment.

The state depicts its natural beauty through beautiful landscape, desert climes, pine covered high country and an abundance of topographical characteristics has made it a prime location in the eyes of the people seeking new homes or property. It’s a visitor’s paradise for vacations and has, over the years, become a hot spot tourist destination.

Arizona real estate market is soaring high with its increasing population contributed by the migrating populace from different states of USA. The people of Arizona are very friendly and cooperative in nature. The state has endless choices of entertainment and amusement, including parks, forests, rivers and a colorful Grand Canyon, which is one of the seven natural wonders of the world.

Arizona is also a well-known destination among retirees and is even more popular for the custom-built homes created around resorts, spas and other epicurean areas. Apart from that, there are plenty of first-class universities and colleges in Arizona. Phoenix, the capital of Arizona, comprises of incredible natural beauty. At Arizona, real estate and homes are available at an affordable rate and as per the needs of the people. The state is also famous for some popular sports arena where baseball is the major attraction for the tourists and other visitors. Baseball fanatics find this place really attractive and hence, an ideal place to live in.

Buying and selling real estate or property is not an easy task and there is always a certain amount of risk involved in it. Thorough study and extensive research are needed before investing in real estate or property. People want experienced knowledgeable agents who have maximum information about the area and can locate a real estate property as per their needs at a price below market standards. There are many real estate businesses that you can find online and some of them specialize only in Arizona Real Estate. It is advisable that if you are planning to do real estate transactions in Arizona always look for a specialist for that area. If you are taking the advice of any Arizona real estate specialist, your land transaction is definitely going to be smooth and profitable.

Why The Market Is Really Hot

August 7th, 2020 by admin No comments »

The Arizona real estate market is really hot. The center of a lot of action in Arizona is Phoenix metropolitan area. However, when it comes to real estate investing, every area is hot. Based on whether you are looking for Arizona real estate just as an investment avenue or whether you are looking for Arizona real estate to actually live in, your preferences would change a bit. However, one thing which you would always want is a low price. And that is something that would require some effort.

If you are looking to get a piece of Arizona property for yourself and your family, then you need to consider a lot of different things which will also influence your perception of the lowest (or the best price) for that Arizona property piece. Note that the best price for the same real estate piece might be different for different people (because their level of motivation to buy a particular real estate piece might vary). So, if you have a lot of friends living in a particular area in Arizona, then Arizona real estate in that area might become your preference and hence increase your motivation level.

Similarly your buying motivation will be higher if you are planning to move into the place on account of a new job that you are taking up in that place or if you have been transferred to that place in your current job itself. If you have children, you would have to look around for Arizona real estate which has good schools around it. Again, you would like to evaluate your lifestyle and see if there is place that is in particular suited to your lifestyle.

So, there are a lot of factors that could lead to increased motivation levels. Generally, more the motivation of either side (buyer-seller), lesser is their negotiation power. So even if you are much motivated to buy a particular Arizona real estate piece, do not show it in front of the seller. Though hiding your motivation will be a bit difficult, nonetheless give it a good try.

If you are looking for Arizona properties just for investment purposes then you would probably have a lot more time on hand to evaluate various properties before you actually go ahead with one. So your buying motivation will not (and should not) be too high. Remember that if you have time on hand, you can always get better deals (and there are lot of Arizona housing deals out there, if you were to look properly).

Since I grew up in Mesa, Arizona, a suburb of Phoenix, I can tell you from experience that Arizona is a great place to live. The people are friendly. The pace is slower than say a California or New York, but a bit faster paced than say Texas. The schools are some of the highest rated in the nation. But most of all, Arizona is a good real estate investment because it is a great place to live and raise a family.

If I had to choose for you a city in which to live I’d choose Phoenix, Scottsdale, Or Mesa. Scottsdale is a terrific choice to buy from. Why? Because there are a lot of newer properties there and it has always been known as the best area in the Phoenix Metropolitan area.

Also, with Arizona the heat is a dry heat, so don’t worry about humidity. Arizona real estate, in my opinion, is one of the best places to buy in the United States. I grew up in Arizona, and I wouldn’t have traded my childhood for any other place in the world! Buy Arizona real estate!

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Crisis Or Opportunity – The Truth About The Arizona Real Estate Market

March 11th, 2020 by admin No comments »

The present real estate market is acting just as it should on the heels of the greatest real estate boom in the last 40 years. There is a long way to fall to get back to “normal”. This falling back into a normal market, coupled with the contraction of the sub-prime mortgage market has the real estate consumer, and many homeowners in a state of fear. The various media continue to depict a very grim picture of the markets in general without distinguishing between the national market and local markets, such as the Arizona real estate market, with factors unique in the ways of population growth and investor activity. I have seen numerous articles referring to the sub-prime debacle as a global crisis. That may be taking it just a bit too

The truth is, there is no geopolitical significance to recent events in the U.S. real estate market and the sub-prime crisis. To rise to a level of significance, an event — economic, political, or military — must result in a decisive change in the international system, or at least, a fundamental change in the behavior of a nation. The Japanese banking crisis of the early 1990s was a geopolitically significant event. Japan, the second-largest economy in the world, changed its behavior in important ways, leaving room for China to move into the niche Japan had previously owned as the world’s export dynamo. On the other hand, the dot-com meltdown was not geopolitically significant. The U.S. economy had been expanding for about nine years, a remarkably long time, and was due for a recession. Inefficiencies had become rampant in the system, nowhere more so than in the dot-com bubble. That sector was demolished and life went on.

In contrast to real estate holdings, the dot-com companies often consisted of no real property, no real chattel, and in many cases very little intellectual property. It really was a bubble. There was virtually, (pun intended), no substance to many of the companies unsuspecting investors were dumping money into as those stocks rallied and later collapsed. There was nothing left of those companies in the aftermath because there was nothing to them when they were raising money through their publicly offered stocks. So, just like when you blew bubbles as a little kid, when the bubble popped, there was absolutely nothing left. Not so with real estate, which by definition, is real property. There is no real estate bubble! Real estate ownership in the United States continues to be coveted the world over and local markets will thrive with the Arizona Real Estate market leading the way, as the country’s leader in percent population growth, through the year 2030.

As for the sub-prime “crisis”, we have to take a look at the bigger picture of the national real estate market. To begin with, remember that mortgage delinquency problems affect only people with outstanding loans, and more than one out of three homeowners own their properties debt-free. Of those who have mortgages, approximately 20% are sub-prime. 14.5% of those are delinquent. Sub-prime loans in default make up only about 2.9% of the entire mortgage market. Now, consider that only 2/3 of homeowners have a mortgage, and the total percentage of homeowners in default on their sub-prime loans stands at around 1.9%. The remaining two-thirds of all homeowners with active mortgage prime loans that are 30 days past due or more constitute just 2.6% of all loans nationwide. In other words, among mortgages made to borrowers with good credit at application, 97.4% are continuing to be paid on time.

As for the record jumps in new foreclosure filings, again, you’ve got to look closely at the hard data. In 34 states, the rate of new foreclosures actually decreased. In most other states, the increases were minor — except in the California, Florida, Nevada, and Arizona real estate markets. These increases were attributable in part to investors walking away from condos, second homes, and rental houses they bought during the boom years.

Doug Duncan, chief economist for the Mortgage Bankers Association, says that without the foreclosure spikes in those states, “we would have seen a nationwide drop in the rate of foreclosure filings.” In Nevada, for instance, non-owner-occupied (investor) loans accounted for 32% of all serious delinquencies and new foreclosure actions. In Florida, the investor share of serious delinquencies was 25%; in Arizona, 26%; and in California, 21%. That compares with a rate of 13% for the rest of the country. This makes for some great buys for the savvy Arizona real estate investor in the area of short sales, foreclosures, and wholesale properties.

Bottom line: Those nasty foreclosure and delinquency rates you’re hearing about are for real. But they’re highly concentrated among loan types, local and regional economies, and investors who got their foot caught in the door at the end of the “boom” and are just walking away from those poorly performing properties. Most of those investors still have homes to live in, maybe more than one.

In the wake of the boom years, we now have a high inventory of homes on the market, Investors and speculators who quickly bought up homes dumped them just as quickly back on the market in hopes of a fast return. The frenzy of investors purchasing homes put pressure on inventories and drove prices up, further increasing investor activity. Then, as if all at once, many of those investors put their properties on the market, creating an imbalance in the reverse direction. With so many homes on the market, prices began to stall and then fell. Prices will continue to fall until demand chews up excess inventories.

With investors no longer a big part of housing demand, primary homeowners are slowly chipping away at the existing inventory. The Las Vegas housing market will rebound in March 2008, according to the largest and most respected appraisal firm locally. The main contributing factor to the sooner than later rebound of this southwestern city is a growing population and thriving local economy.

Arizona and Nevada are expected to lead the country in percentage population growth for the next 20-25 years. The population of Arizona is expected to approximately double during that time so we can expect a strong housing demand going forward. Normal inventory levels for Phoenix real estate are about 6-8 months. Current inventory is about 10-12 months. So, we are not far above “normal” inventories in Phoenix. There are, however, outlying cities in this large metropolis that have inventories in excess of 1 year. Queen Creek real estate inventory is the worst with approximately a 2-3 year surplus of homes on the market, mostly due to the large percentage of new homes purchased by investors and then quickly flipped back onto the resale market. Surprise and Peoria real estate markets have a 1-2 year inventory for largely the same reason. We are already seeing some Scottsdale real estate and Paradise Valley real estate prices increase in value. Billions of dollars are being poured into the local economy in the way of commercial development from the downtown area to Northeast Phoenix and Scottsdale.

The demand for Arizona homes will remain strong in years ahead as new populations create the need. The demand for housing across our great nation will remain strong as this next generation of young debutantes steps onto the home buying stage. Interest rates are still at historic lows and the lending institutions will continue to offer creative financing options. Sure, some hedge funds lost the air in their tires, but financing sub-prime loans is a high stakes game for the super rich and is not of geopolitical significance. They will find other ways to lend their billions for huge profits in the wake of this sub-prime debacle. Let’s not be gripped in the fear created by reports from all media types trying to “make news”. Let’s face it, the real numbers are not that bloody exciting. Ask yourself, is this an Arizona real estate crisis, or the perfect time to buy an affordable Arizona home? Proper timing and negotiating techniques make all the difference in the current Arizona real estate market. When choosing an Arizona realtor, trust the expertise and experience of Equity Alliance Properties.

For up to date Arizona real estate market research, contact Robert Hand at 480.206.8133 or go to [http://www.equityallianceproperties.com]

I attended Wichita State University from 1979 through 1983 majoring in Chemistry. Enlisted the U.S. Navy in June of 1983, specializing in intelligence gathering and dissemination and tactical operations. Served onboard the U.S.S. W.S. Sims FF-1059 through April of 1987 working in Electronics Warfare in the Combat Information Center. Attended the University of the State of New York, majoring in Electronics Technologies while on Active duty. After 4 years of active duty, continued service for 2 more years in the U.S. Naval Reserves through June of 1989.

With an interest in real estate since I was just a young lad, I decided to get my real estate license in 1995, prompted by the allure of investment opportunities in this fast growing city I had found myself surrounded in. For years I helped others invest in their dream homes or make smart gains in the properties they bought and sold. I also helped my colleagues who came to this country to work from overseas find a home for their families.

When you live with people that share the same purpose and passion, you have more time to share your thoughts, emotions, adventures, and growth together. Go to https://acimcentre.org/ to join them.

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