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May
04

Looking for summer kid activities?

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 Options abound. Here are 3 terrific camp ideas, as well as a link to find others.

The Best Summer Ever, Ahwatukee Foothills YMCA 1030 E Liberty LN Phoenix, AZ, Ages 5-10, starts May 30th -July 28th, 6:30 am to 6:30 pm, $175 a week for members, $215 a week for non-members, $35 deposit required, Camps include field trips, special events, traditional activities, swimming and more.

School of Rock Ahwatukee- Rock 101, School of rock Ahwatukee, 4645 East Chandler Boulevard, Phoenix, AZ, June 19th – June 23, ages 7-12, $100 daily cost, a deposit is required,  Rock 101 camp is perfect for the beginner! Aspiring rockers will spend the week learning the foundation of musical concepts through rock songs.

Nerding: STEM Classes for Kids,  Nerding Space,  51 W Elliot Rd, Tempe, Arizona, 85284,  8:30 AM – 5:30 PM, ages 6-16,  an Average week long camp is $150 for half day or $285 for a full day,  10:1 Student to Teacher ratio! Nerds get lots of individual attention, help, and encouragement.  Nerding classes and camps in Tempe, AZ are all about STEM: Science, Technology, Engineering, and Making. Kids explore amazing tools like Makey Makeys, Arduinos, and iPads, program robots like Sphero and Ozobot, code original games, create rocket launchers, or learn to sew!

You can search by age and type of camp using the link below. Happy camping!

http://summercamps.azcentral.com/

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Mar
07

Phoenix is a Seller’s Market

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As we move into spring and the weather is warming, so is our market. Active residential listings for sale (in our area MLS or listing service) is about 15719, having dropped from about 17348 total from just 4 weeks ago.  Buyers and buyer’s agents are feeling the pinch in choices, the pressure of bidding wars, the disappointment when the buyer doesn’t win offer acceptance.

It’s a pressure cooker in prices up to the $200,000 range.  However, supply is decreased and resulting in a seller’s market even up to $400,000.  Look below this blog entry to see the difference in the way the market is currently behaving across various price points,  courtesy Daily Observations from Cromford Report, February 26, 2012.

Sellers are in a dramatically stronger position than last year.  Homes up to the range of even $350,000, located in popular communities,  in good to great condition, showing well, and priced correctly (even when slightly over priced) are selling quickly. 

If you are a seller with a home priced in this range and are wondering why you aren’t receiving your share of offers, take a hard look.  Fresh paint? Newer looking carpeting? Well kept yard?  De-cluttered?  Realistic about pricing?  Take an honest look, make needed improvements or  pricing corrections, do not miss the opportunity with which  this spring’s strong market is gifting you!

Daily Observations from Cromford Report-Feb 20-26

February 26 – The market is behaving very differently at different price points.

    • Below $100,000:
      • supply is down 63% from last year with REOs down 86%
      • pending listings 17% below last year, constrained by severe lack of supply
      • monthly sales rate is 27% below last year, constrained by severe lack of supply
      • contract ratio is an alarming 421.4
      • this is a market that is extremely weighted in favor of sellers
      • $/SF sales pricing is up 10.7% from last year and up 2.7% in the last month
      • sales pricing is highest since August 2010
    • Between $100,000 and $200,000
      • supply is down 44% from last year with REOs down 72%
      • pending listings 7% below last year, constrained by lack of supply
      • monthly sales rate is 1% above last year, constrained by lack of supply
      • contract ratio is a very high 207.4
      • this is a market that is heavily weighted in favor of sellers
      • $/SF sales pricing is up 4.1% from last year and up 2.3% in the last quarter
      • sales pricing is highest since June 2010
    • Between $200,000 and $400,000
      • supply is down 25% from last year with REOs down 60%
      • pending listings 20% above last year
      • monthly sales rate is 7% above last year
      • contract ratio is a high 83.9
      • this is a market that is weighted in favor of sellers
      • $/SF sales pricing is up 2.3% from last year, but flat over the last quarter
    • Between $400,000 and $800,000
      • supply is down 14% from last year with REOs down 46%
      • pending listings 3% above last year
      • monthly sales rate is 8% below last year
      • contract ratio is a normal 42.0
      • this is a market that is in balance
      • $/SF sales pricing is up 5.3% from last year and 3.4% in the last month
      • sales pricing is surprisingly strong, and at its highest since June 2009
    • Above $800,000
      • supply is down 17% from last year with REOs down 42%, but supply is up 18% since August 2011
      • pending listings 1% below last year
      • monthly sales rate is 21% below last year
      • contract ratio is a weak 16.0
      • this is a market that is weighted in favor of buyers
      • $/SF sales pricing is down 8.4% from last year
      • sales pricing is still on a slight weakening trend
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The number of active residential listings for sale in  ARMLS (area MLS or listing service),  is about 17348 total this morning –  down over 1000 dwellings over the last month.

The home-buying experience is vastly different than this time last year, when multiple offer scenarios were just beginning to occur  on the nicest properties.  And just two years ago, a buyer searching in any given area for a 4 bedroom home with a pool, and a budget up to $400,000 (for instance), would have a good number of  choices, with several lovely properties from which to choose.  And the buyer’s edge at that time (too much supply versus too little demand), meant that  negotiating a good chunk off asking price was a given.

It’s a new dawn:  Inventory is decreasing, foreclosures are decreasing, buyers that have been waiting on the sidelines for indications of market bottom have jumped off the fence and are competing with each other for a smaller pool of  properties.

In most areas and many price ranges, supply/demand balance is turned on it’s head.   Homes in great condition and priced according to current values  are often selling very quickly with several offers, in some cases driving the price higher than list price.

Canadian buyers have been taking advantage of the bargains in sunny AZ for a few years, and in Phoenix real estate rises with Canadian buyers, one Canadian investor says that real estate here is about 20% higher than when he bought in 2010, and that “there’s been an extreme turn.”

Where will we go from here?  I’m thinking up.

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“….. prices may actually appreciate the most this year, the
firm expects Orlando, Fla. home prices to rise 11.7%, hard-hit Bakersfield,
Calif. 11.1%, government jobs-driven Washington, D.C. 9.3%, foreclosure-riddled
Phoenix, Ariz. 8.9%, and sales-heavy Miami, Fla. 8.8%”. [Has The Housing Markt Hit Its Bottom? Forbes.com, 1/10/12]

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Jan
07

Phoenix median price moving up

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More good news on the Phoenix real estate front?  In Phoenix-area housing may be on the mend (azcentral.com 1/6/12), per the Information Market, our median price hit bottom last August at a$112,000, but by last month, had risen to $120,000.  Further, Mike Orr of the Cromford Report is quoted as saying “the housing market definitely saw the bottom in August or September of last year.”

Considering this morning’s total ARMLS (our MLS or listing service) is about 18,500 dwellings, and this number is roughly 1/2 what we had first quarter 2011, I would strongly agree.   I will add that the article linked above says inventory has dropped to 25,000.  That includes homes in AWC category – under contract, not yet pending – homes that aren’t truly available for sale – so not the real number,  in my opinion.

This is welcome progress for home owners, as well as current or prospective sellers.  The sinking floor on pricing has firmed, and in some locals, finding traction.  For home buyers out to take advantages of shockingly low prices (I am showing a home this afternoon that is listed at $10,000 higher than it sold for in 1998 …. and it’s in nice condition), and even more shockingly great interest rates:   you will find pickings are a little slim.  You may have to modify your wish list to the most important bullets in order to acquire a home in the location you want to live.

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355 E Germann Rd., Ste 180
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