Inside Phoenix Real Estate

Changes

2009-10-07T16:47:00.000-07:00

Watch for new changes coming to this blog and the Banana bunch!

Busy Crazy Week

2009-03-16T11:29:00.000-07:00

Last week was really remarkable for me here in the HOT Phoenix real estate market. Our office has adopted a new phrase because truly "PHOENIX IS ON SALE!"

What does this mean? The short version is that the pricing for home across the Valley of the Sun are at bargain levels. Since July 2008, we have seen a steady decline in the inventory of available homes for sale. While economic times are challenging and the number of REO (bank owned properties) has risen, so have SALES! Over 5,000 home sales have occurred since July, and some months, even more.

Additionally, there is definitely an uptick in first-time homebuyers. This is very, very exciting news and it favorably impacts trickle down economics across board. For a free eBook about first time homebuying, click here.

A lot of these first time buyers are Gen-X and Gen-Y types who are very savvy with the internet. This makes the buying process even more fun for me as a REALTOR because I am able to more quickly relate to my client's needs and wants. It also helps them be more focused on exactly what their dream home actually looks like. In addition, helping them find the house that is THE SPECIAL ONE, watching their eyes light up and the smiles on their faces when that house comes up, WOW!

On Friday, I was showing a young couple, I'll call them Fred and Sue, homes which I had previewed for them last week. The second house was "The ONE!" We looked at a few more good candidates, came back for the second look, and left to get the offer written. What a day! Oh, and both extended families liked the house as well. Watching "boomers" watch their adult kids go through the first home buying experience is also a lot of fun, challenging, but fun.

If you, a family member, friend or co-worker is considering a home purchase, I'd appreciate it if you'd have them give me a call at Anna Banana Realty, 602-595-8900 in Phoenix. It's also a great market for investors. Either way, we are your residential purchase specialists.

To check current listings or visit our website, click on Anna Banana Realty.

For a copy of our March newsletter and information about the new Tax Benefits, Pick me!

Happy St. Patrick's Day.

2009-03-15T20:22:00.001-07:00

is just getting back from Tucson where he and Laura visited family and had another Wonderful Day in Paradise!

2009-03-13T23:54:00.001-07:00

is calling it a day and a week. Good though, busy, helping two clients. Wrote offer tonight for first-time homebuyer! It's exciting!!!!!

2009-03-06T11:07:00.001-08:00

is just finished with my first appointment with a new first-time homebuyer. This Phoenix market is moving. Come join the party. Call me!

2009-03-05T16:29:00.001-08:00

is celebrating another great day in Paradise! Meeting clients needs, talking with friends, working on future sales and enjoying the day!

2009-03-04T16:02:00.001-08:00

is headed for the barn. What a great day it so far! Talked with two new clients, sent out a relocation package and had a major AHA!!

2009-03-02T11:28:00.001-08:00

is heading out to preview properties for a new client. I'll be enjoying a beautiful sunny Arizona afternoon too!

2009-02-26T06:36:00.001-08:00

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

2009-02-25T06:33:00.001-08:00

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

2009-02-24T16:26:00.001-08:00

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.

2009-02-21T22:00:00.001-08:00

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

2009-02-20T14:32:00.001-08:00

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

2009-02-19T14:41:00.001-08:00

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

Patience, Excitement, Stress

2009-02-18T21:42:00.000-08:00

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.

2009-02-17T15:56:00.001-08:00

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

REO Process

2009-02-12T16:05:00.001-08:00

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.

2009-02-12T16:03:00.001-08:00

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!

2009-02-11T14:52:00.001-08:00

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

2009-02-10T21:20:00.001-08:00

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!

2009-02-10T15:16:00.001-08:00

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

2009-02-06T16:30:00.001-08:00

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!

2009-02-06T15:00:00.001-08:00

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.

2009-02-05T07:38:00.001-08:00

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

2009-02-04T16:28:00.001-08:00

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

2009-02-04T15:56:00.000-08:00

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.

2009-01-31T10:51:00.001-08:00

heading out to a document signing appointment with a first-time home buyer. She is so excited to be closing on her new house! Move in next weekend.

2009-01-30T12:47:00.001-08:00

just posted a blog about the stars aligning in Arizona and delivered the house keys to one of his first-time home buyers! That was fun! GO CARDS!

Stars have aligned in AZ

2009-01-30T12:01:00.000-08:00

I was talking with an associate about all of the activity we have seen in our office this month. It has been festive since the beginning due to the New Year and most recently the success of our hometown Arizona Cardinals! I have heard it said that 'hell has frozen over'.

One of my associates stated this morning that "The stars have aligned." His comment caused me to start thinking about what he had just stated .

As I asked for clarity on his comment, he remarked about the success of the Cardinals in reaching Super Bowl XLIII, the number of sales which have closed this month in our office, the inauguration of a new president, the beginning of the Chinese New Year and the number of new clients we are seeing in the office.

Everything we discussed truly reflects on the many positive events that are occuring already in 2009! Make your 2009 positive in all you do. It is and will be a great year!

2009-01-23T11:49:00.001-08:00

coordinating with lenders, selling agents and title agents to finalize all documents for two first-time home buyers who have closings next week.

2009-01-22T05:36:00.001-08:00

attending the Greater Phoenix Chamber of Commerce Business for Breakfast at Paradise Valley Mall this morning. Go Cardinals!

2009-01-19T09:02:00.001-08:00

is previewing homes for a new first-time home buyer.
Also celebrating the Cardinals victory and first trip to the Super Bowl!!!!!!

2009-01-16T07:40:00.001-08:00

is meeting a new client, first time home buyer, and viewing properties today!

2009-01-14T10:23:00.001-08:00

researching MLS for listings to preview for new first-time home buyer in El Mirage.

2009-01-10T22:14:00.001-08:00

just getting home after celebrating the AZ Cardinals win over the Panthers! GO Cards! NFC Championship game next week! Bring it on!

2009-01-08T15:29:00.001-08:00

wrapping up dotting of i's and crossing of t's for two contracts. One appraisal is done and one is scheduled for tomorrow. 2009 is going to be a great year!

2008-12-30T16:08:00.001-08:00

checking emails and getting ready to go out for dinner with Laura to meet a high school classmate and friend in Tempe.

2008-12-27T09:01:00.001-08:00

finishing emails and getting to "Ride the Rails" on the new Phoenix Lite Rail with the Banana Bunch!
See you there between 12:00 and 4:00 pm today!

2008-12-23T16:18:00.001-08:00

going out for the last round of Christmas shopping. Merry Christmas Eve Eve everyone.

2008-12-23T08:31:00.001-08:00

enjoying holiday coffee and catching up on emails, letters and phone calls with family and friends.

2008-12-22T10:56:00.001-08:00

sending birthday wishes to family and friends.

2008-12-19T12:02:00.001-08:00

out of the office this afternoon and looking forward to shopping and family time.

2008-12-18T12:25:00.001-08:00

working on Christmas cards (before it's too late)!

2008-12-16T14:30:00.001-08:00

meeting with his client to review and sign counter offer for accepted contract on new home! Another first-time home buyer is taking advantage of the hot market here in the Phoenix area.

Albuquerque client

2008-12-15T13:53:00.001-08:00

Ken is working on a contract for his Albuquerque relocation client.

2008-12-13T19:11:00.001-08:00

submitted the contract for his client in El Mirage!
Time to relax and have a treat!

2008-12-13T16:14:00.001-08:00

writing a contract with another first-time home buyer in El Mirage.

2008-12-11T15:29:00.001-08:00

submitting a contract addendum acceptance to the seller for his first time homebuyer and working on relocation residences for a client from Albuquerque, NM.

2008-12-10T12:41:00.001-08:00

has submitted contract for client! Hooray!