It's Hot in Arizona!

It's hot in Arizona!

I'm not talking about the local economy & real estate markets although "The Arizona Republic" did report last week that the market had possibly "bottomed". (See the link for the full article: http://www.azcentral.com/arizonarepublic/business/articles/2009/07/16/20090716biz-saleindex0716.html.) Although sales are not as "hot" as in the 2005/2006 days, the inventories are decreasing & things are looking brighter.

No, I'm talking about 115 degree temperatures and showing properties to brave, brave souls looking for homes! You work differently when it's that "warm"! For one, you find yourself carrying an igloo cooler loaded with ice and bottles of water. You think that you are prepared but then you realize if you really had it together, you would have packed cold, wet washcloths, as well! Then there's the whole bank-owned property scenario....there's never any electricity on so it's double-hot inside & you find yourself using property flyers for fans! Or how about the loosening standards of business dress? Personally, I think swim suits are a great idea & then we could try out the backyard pools as we toured from home to home!

This would be July & August in the desert! Eventually the wild, hot winds of the monsoons will give way to the gentle breezes of autumn and we will all remember why we live here! A little bit of summer is not a bad price to pay....of course, it's November when we realize it!


Stay cool!

July 4th

Welcome to my to blog! I'm excited to have it set up and look forward to sharing great information about the Phoenix housing market via this site!

The local market continues to grow stronger. I've been working with Buyers in the FHA market (purchase price less than $346,500) & I must say that the market has definitely turned around in that area. I am seeing limited inventories and multiple offers on properties. I think that much of the improvement can be credited to first time home buyers taking advantage of historically low interest rates & the $8000 tax credit, which expires at the end of November. There's also a lot of investor activity going on...in some areas, properties are selling for less than they can be built - easy cash flow if you want rental properties. Statistics put the Phoenix market at a 3 1/2 month inventory. Unbelievable!

The luxury market continues to struggle. The availability of jumbo loans is just not there. Home buyers in that market really have to go back to the mindset of 20% down to buy a house. There are terrific opportunities for those who want to "move up". The overall amount of inventory for Scottsdale is at 7 1/2 months.

I have a wonderful listing in the Powderhorn Ranch neighborhood of North Scottsdale. It's a 5 bedroom beauty, located near the best of schools. I've included photos on the "slideshow". If you know of anyone looking for a great family home, please give me a call.

Happy 4th of July......Let Freedom Ring!