is off to day 3 of continuing education class. It's been enlightening and fun so far. Good stuff!

is off to another full day of continuing real estate education class. Looking forward to learning new stuff!

is back at the office for a short time after attending 8:30 hours of real estate class today. Looking forward to a glass of wine later.

calling it an evening after hosting friends for dinner and two games of CashFlow. Cool evening and great company! CashFlow is so cool!!!!!

is working with his broker digesting and analyzing the government's mortgage funding plans. Look for a blog soon. To see my blog go to: http://ping.fm/f3ZW9

is meeting with his first time homebuyer client to complete counter offer for home purchase. One more step moving ahead! Hooray.

Patience, Excitement, Stress

The Phoenix real estate market is booming. Over the last 8 months, over 5,000 single family home sale transactions have occurred each month. In January, 2009, over 6,000 homes sold. Over half of these sales have been REO properties. The great opportunity in this market is for first time homebuyers. In my opinion, prices are at or very near the bottom. Interest rates are in the 5 to 6% range and there are all types of changes in the mortgage market. President Obama has just announced his plans for the housing industry. More changes are on the way.

How does all of this translate to patience? Simply, I am currently working with a 21 year old single homebuyer. I'll call her Brenda. Brenda is anxious for all of the contract paperwork to be completed and she is working hard to understand everything involved in the process. The process has a lot of turns and every contract is different. Teaching patience is critical as things happen, and the process is not always smoothe. Brenda has had lots of questions. This is great to me because I have been able to educate her while building a trusting relationship.

Brenda is also very excited because she really likes the house. She exclaims "It's so cute. I love it!" Her excitement is more than contageous. Her friends are very happy for her and many cannot believe she's buying her first home at such young age.

My client is making one of the most stressful decisions of her young life. She is stressed, and I cannot blame her. I vaguely recall my first effort at buying a home. I didnt' do it. Too much financial pressure! Brenda has handled some curve balls during this process with understanding and maturity. In addition, she has been able to make quick decisions with regard to properties we have viewed. This has carried forward into considering contract options and moving ahead with good decisions.

Brenda and I have a few more hurdles to clear on the way to finalizing the contract. Once that's done we get to go through the inspection process. While the property looks good, we will be taking full advantage of our professional inspectors to make certain the house is as good as it looks.

Stay tuned for more updates.

If you would like information on a free eBook for first time homebuyers, click here.

To get information from our broker on other Phoenix real estate news, just click here.

is playing my favorite real estate game, hurry up and wait......... Hopefully additional paperwork will arrive before the evening is over.

REO Process

An interesting thing happened on the way to the forum.... Oops, that's from the movie.

The good thing about dealing with lender owned properties in the current market is that it's a lot like riding a bicycle for agents. I remember learning to ride that bicycle, falling over, bumping into things, misjudging where I was going. The came can be said for REO sales. Once I got it figured out, it's a process that just has to be navigated.

The flip side of this is helping the first-time homebuyer be patient with the whole thing. They don't know what they don't know. As their agent, it is my job to explain everything ahead of time, what may happen, and if certain things happen, how much time and what the potential outcomes are. That said, we are playing the waiting game. First time for this client, and she is so clear on what she wants. She really likes the house we found, and now is anxious for a decision. Who can blame her. I recall vaguely the anticipation of the first house I bought.

It is nice to be able to reassure her that this happens, and it seems a bit more lately. That is good news because it shows that the market is active, pricing (in my opinion) is at or very near the lowest point it will be. Interest rates are great and it is time for people to make the move into home ownership.

I'm looking forward to this weekend and a favorable answer for my client. What are YOU waiting for? Give me a call and I'll help you get started looking for your new home!

If you'd like more information on the home buying process, click here to get a free copy of our eBook for first-time homebuyers.

For more information on Phoenix real estate, click here to go to our website.

getting ready to head home for the day. Interesting day with questions from last months buyer and coordinating a multiple offer contract addendum today. Fun stuff!

is meeting with his buyer to amend our offer from yesterday. Keep 'em moving. First time homebuyers are great!

enjoying a glass of champagne tonight. I finished a new contract for first-time homebuyer and submitted it! Phoenix market is hot!!! Some of the best prices in years. BUYERS Wanted. Call me!

meeting first-time home-buyer to view house. This may be the one!!!

is closing the office and looking forward to a glass of wine. For local real estate information check out my blog: http://ping.fm/f3ZW9

AZ Real Estate is GOOD News!

Good News! How's that for a title or even a headline? I believe that it is fantastic. Personally, I am committed to making 2009 the best year ever! How? By passing along good news to friends, family, clients, acquaintences and strangers.



Like many of you, I am on Facebook. Recently, there has been a fad of tagging friends and asking them to list "25 things people don't know about me." You make a list, pass it along to 25 friends and then ask Them to do the same.



Using that as an example, I want to ask everyone to take a moment after reading this, and list 10 things that you are grateful for or that are good which have happened to you. The time table doesn't matter, just do it! Start with one and go from there. I'd encourage you to do it daily. What a difference you will make in your world, and in mine.



How does this apply to real estate? First, good news is that two of my clients purchased their first home! Second, there were a number of properties that both clients looked at before we found the right one for each of them. Third, we had a team of professionals who worked together representing the seller, buyer, lender and title companies. Fourth, each team member did their job professionally and in a timely manner. Fifth, these efforts combined to add two happy and excited home buyers to our community.



Additionally, other service providers such as home inspectors, appraisers, home warranty companies and tradesmen participated in the process. That makes the sixth point of good news.

The seventh point is the money that exchanged hands during the process. Everyone was compensated in some manner for the service provided. What a positive statement about how home sales add to the Arizona economy. If you don't understand trickle down economics, you now have an example. What about lunches, stopping for a coffee or refreshment during the process of viewing homes, or gas to go looking at neighborhoods. I believe that will be number eight.



Nine and ten good things are meeting people I didn't know before and building relationships with people I already knew. So, to everyone I met during these past few months, regardless of the capacity or service that you provided to my clients, I give each of you a great big THANK YOU! You made my world better by helping my clients get the things they wanted. Serving one another, isn't that really the GOOD NEWS we all want to share?



Ken Speer - Anna Banana Realty



P.S. If you are or know a first-time home buyer and would like more information on the process, please check out our new eBook.



P.S.S. For more information about Phoenix Real Estate, check out our brokers' blog.

is previewing more houses for first-time home buyer client this morning.

is leaving the office after a busy day of previewing homes for a new client, coordinating with other agents, dealing with title/escrow on two sales and updating my blog.

Another Month Gone

Wow! I can hardly believe that it is already February, 2009! What happened to January? Let me think, oh yes, I recall now. January has been a very busy month here at the office. All of our agents are moving through contracts, closings, showings and marketing efforts. Great news here in the Phoenix market is that for the last 7 months, home sales have exceeded the previous years numbers. While most of those have been in the foreclosure market, the good news is that the number of available homes is declining. Also, here in the Phoenix area we have been supporting our hometown Arizona Cardinals. It was a great ride all of the way to the Super Bowl!

For me personally, it was a month of new experiences dealing with assisting first time home buyers and dealing with (negotiating) with REO sellers. Of interest to buyers and sellers, remember that as real estate agents, our agency's commitment to you is to provide the best customer service we can, and to help you have some fun during this long and sometimes challenging process. January was a rewarding month.

If you are a first time home buyer and would like more information on the process, please check out the new eBook.

For more information about Phoenix Real Estate read our broker's blog.