Real Estate values are leveling out.

The real estate market is leveling out as predicted.  CoreLogic says prices increased 0.2% in October from September and 12.5% from a year ago nationwide. 

Phoenix home sales were down 11%. The median price was $160,000.

According to Realtytrac, Home sales in Phoenix for June 2013 were down 11% compared with the previous month, and down 12% compared with a year ago. The median sales price of a non-distressed home was $160,000. The median sales price of a foreclosure home was $122,000, or 24% lower than non-distressed home sales.
http://www.aznativeproperties.com/

Resale homes sales are up, new home sales are down.

Resale homes up 17.2% and new homes sales down 13.4%. Resale homes up is good for the sellers. However new homes sales down hurts the economy because it doesn't help job creation in the construction trades and suppliers. http://www.aznativeproperties.com/

Using equity in your first home to buy a second home?

REALLY?  CNN money has a story suggesting you use the equity in your first home to help you with a down payment on a second home.  REALLY? Are they kidding?  Is that just one of many things that people did in 2005 and during the recent housing boom and got us into the Great Recession? 

How many times have you read story's about people then losing both homes?  Sometimes the first home was one they had owned for 20 years or so. 

Don't get me wrong.  Real Estate is a great investment right now.  But if you have money in one piece of real estate, maybe you should just leave it there.  If you have money in stocks or a savings account and that's not making you much money, maybe that's what you should use.  Always consult a financial advisor because these questions are so personal to your specific financial life. 

Right now, homes are selling well in may areas, especial home for sale in Phoenix.  And many believe, including me, values will continue to go up for about the next year.  However, I admit the values have gone up in the last year faster than expected, but I have a hard time believing they will continue and get us back into another bubble.  If they do, and you use your current equity for another home, that's a big risk.

Think of Las Vegas, you're at the craps table and your up $50k.  If the right dice come up, you win, if not, you lose.  Can you afford to lose? 

http://money.cnn.com/2013/08/16/pf/expert/home-equity/index.html

Pomo Pizzeria in Downtown Phoenix.

Have you been to Pomo Pizzeria on 1st Street and Pierce.  I went there last night and it was great.   There are more and more places to go and things to do in Downtown Phoenix.  That's why There aren't many Condos for sale and the ones that are sell very quickly in the last 4 to 6 months.  If you like living in a vibrant area with a lot of things to walk or ride your bike to, this is it for Downtown Phoenix.

Festivals in Downtown Phoenix this fall.

I'm sure you've heard about all the festivals in Downtown Phoenix and around the valley in the past few years.  Well Festival Season is coming up quickly so get your calendars out and start marking the dates. 

Here's what's coming this fall in Roosevelt Row in Downtown Phoenix.

 Chile Pepper Festival – September 28

Roosevelt Row CDC is presenting the best local restaurateurs, chefs and gourmet food trucks in the Valley to highlight the most delicious chile pepper-inspired cuisine. Onsite chile roasting, live music, a local talent show and (of course) a beer garden and margarita station will also be on the menu.

View Event Details

Buy Your Ticket

Taste of the Trucks – October 26 & 27

The 2013 Taste of the Trucks is a two-day event featuring 50 mouthwatering food trucks (25 each day) sampling their best digs, live music from great local bands and a beer/wine garden to quench your thirst.

View Event Details

Buy Your Ticket

Pie Social – November 16

The annual event features the culinary masterpieces of celebrity chefs and community members alike. This family-friendly neighborhood event raises money for local community improvement projects implemented by Roosevelt Row.

View Event Details

 

If you contact me now at www.AZNativeProperties.com and look at all the cool condos for sale, you can be living the Downtown Phoenix life and just walk to any of these great festivals. 

Arizonan's behind on Mortgage Payments dropped significantly.

Arizona seems to be beating out other states in our recovery from the Great Recession.  I've lived here all my life and although I'm not an economist, it always felt like the recessions in Arizona weren't as bad as other states.  That is until this latest housing bust.  But I've been feeling optimistic and it seems that optimism is paying off.  People late in making their house payments had dropped more in AZ than other states and our values are increasing at higher rates.  There's a lot of reason to be optimistic.  www.AZNativeProperties.com

Artisan Village 1288sf, 2bed, 2bath, 2car garage, $199,900

Check it out, there's only one condo currently for sale in Artisan Village Condominiums.  Artisan Village is very desirable and located in the heart of the Roosevelt Row Arts District.  This is a 2 bedroom, 2 bath and rare to find a 2 car garage.  Just off the I-10 freeway at 7th Street in Downtown Phoenix.  It's easy to get to the Phoenix Sky Harbor Airport, Downtown Tempe and the Biltmore Area. 

The Downtown Phoenix Festival season is coming up, you move in just in time to walk to all the activities in the Downtown area this winter.

Artisan Village Listing

Phoenix Commercial Real Estate picking back up.

Ronald Hanson of the Arizona Republic is reporting that commercial real estate is picking up.  Phoenix Commercial Real Estate often follows residential real estate in the Metro Phoenix market.  As Downtown Phoenix residential sales started to slow down, the commercial market did the same. 

How that Metro Phoenix has been picking back up, the commercial market is following suit. 

Most of the residential building in Central Phoenix, Downtown Tempe, Downtown Scottsdale and the Biltmore Area have been rental or assisting living.  The residential market needs to get a bit stronger before Condos and Town homes start building again.  However, Phoenix Historic Homes are stilling coming on the market and at reasonable prices.

AZ Central whole story

Summit at Cooper Square can be financed with 3% down

The Summit at Copper Square is a 22 story building located in Downtown Phoenix next door to the Baseball Stadium.  Built in 2007 before the market crashed, they didn't sell all the units and the project filed bankruptcy.  I know that sounds bad but it's not.  The good part is an investment company bought the remaining units for penny's on the dollar and have been renting them out since. 

They started selling their units for cash or 20% down and a conventional loan.  Now that so many have sold, they can finance them with 3% down.  There are currently 1 and 2 bedrooms condos for sale starting in the high $100's. 

As for Downtown Phoenix condos, this is at the top of the list of best places to live.  They have a pool on the 5th floor, workout room and board room.  They also have a rooftop community room that can be used for private parties.

Look at all the great picture on my website and contact me with any questions.

The Summit at Copper Square

Downtown Phoenix residential values are ahead of other areas.

Betty Reid from the Arizona Republic is reporting the residential market is up but the commercial market is lagging behind.  That's not unusual when we are coming out of a recession.  The Downtown Phoenix condo market is a bit ahead of other residential areas with the increased popularity of Downtown Phoenix. 

Roosevelt Row Arts District remains at the heart of the people desired to move to the inner city selling their home in the suburbs and buying a condo in Downtown Phoenix.

The Phoenix Historic Districts are a very nice combination of a suburban neighborhood and urban living.  Many family's are deciding to live in the Historic Districts of Phoenix so they can have the best of both worlds. 

See many Phoenix condos and Phoenix Historic Districts at www.AZNativeProperties.com

Full Story from AZCentral.com

NPR reports "Sales Of New Homes Rise Again, Hit Five-Year High"

NPR reported today that home sales are up nationwide 8.3% in June over last year.  This is great for the economy overall.  In the Phoenix market, builders are buying land all over the valley so we can expect many new communities to start popping up.

On the resale market, home values continue to rise in the Phoenix market.  Seller's are putting their homes for sale and getting asking price and sometimes more.  If you price it right for the condition and neighborhood you could sell your home in just days. 

See the Whole NPR Story.

Go to www.AZNativeProperties.com for information on buying and selling your home.

Contact Chris F Campbell for more information.

New Listing at Artisan Village coming up for $199,900, 2 bed, 2 bath, 2 car garage

I have a new listing coming up this weekend at Artisan Village.  Located at 615 E Portland in the Roosevelt Row Arts District.  Just steps away from First Friday Art Walk, close to freeway entrance and walkable to the Light Rail.  Contact me at www.AZNativeProperties.com for more information or Chris F. Campbell

Rising Interest rates won't raise property values.

According to CNN/Money, Fannie Mae has announced that raising interest rates won't hurt the increase in property values if history is correct.

"History suggests that interest rate increases at the level recently witnessed will not stop the current housing recovery," the report said.

Read the whole story here:  http://money.cnn.com/2013/07/18/real_estate/mortgage-rates/index.html

Contact Chris F Campbell for more information.  www.AZNativeProperties.com or Chris@RooPhoRealty.com

Tempe Townlake Condos

Tempe is such a great place to live especially near the Town Lake.  Currently there are only 45 condos for sale near the lake.  That tells you how popular the communities are.  Below are just a few examples of the communities and views you can have in Tempe. 

Go to AZNativeProperties.com and check out all the great communities Tempe has to offer.

Contact RooPho Realty for a complete list of all Condos for sale in Tempe and an appointment to see some of them.

Bridgeview Condos on Tempe Town Lake

Brownstones at Hyde Park

North Shore on Tempe Town Lake

3% Mortgage Interest Rates are going away

As we say good bye to all but free money with interest rates below 3%, we have to start getting use to the rates going up into the 4% range and maybe higher.  But let's remember the past.

Prior to 2003, higher mortgage interest rates were the norm. In the early 1970s, rates hovered in the 7-percent range and spiked up above 9 percent in late 1975, late 1976 and most of 1978. At the end of the decade and throughout the 1980s, mortgage interest rates rarely dipped lower than 10 percent.
In the early 1980s, mortgage interest rates brushed the stratospheric highs of 18 percent and even 19 percent. Imagine trying to get a home loan with an interest rate of 18 percent.

During the 1990s, mortgage interest rates ranged from around 7 percent to roughly 9 percent for many years.
Source: Bankrate.com

Metro Phoenix median home-sales price up 60% from market low.

Metro Phoenix’s median home-sales price climbed to $181,399, an almost 60 percent increase from the real estate crash’s low price in August 2011.

The main reason for higher home sales prices is the chronic shortage of available houses for sale in the Phoenix area, he said. The number of houses listed for sale in the region fell 7.3 percent in April.

Because of rapidly rising home prices, some market watchers are concerned that many investors who bought inexpensive short sale and foreclosure homes and turned them into rentals during the past few years, will try to resell those homes now and create a bubble of oversupply.

“Some commentators talk ominously of a bubble bursting when these homes come back onto the market,” Orr said. “Such talk gets a lot of attention because we are over-sensitized to bubble talk after the disruptive events of 2004 to 2006.”

He said even if all the big investors put their homes on the market next month, that would only add 10,000 to 11,000 houses to the number of listings, and the Valley’s market would still be undersupplied based on demand.

Contact Chris to buy or sell a property.  www.AZNativeProperties.com

By Catherine ReagorThe Republic | azcentral.com  Mon Jun 10, 2013 5:26 PM

RooPho Realty June 2013 Newsletter

Here is June 2013 RooPho Realty Newsletter

Also, check out http://www.aznativeproperties.com/

Things you should know before buying a home.

I just saw this on CNN Money and thought they were good suggestions. 

The top 10 things you need to know when buying a home.

http://money.cnn.com/magazines/moneymag/money101/lesson8/index.htm

If you have any questions about these or anything else about buying or selling a home, contact me.

http://www.aznativeproperties.com/  or 602-224-0554

Are interest rates going up?

Will rates rise or remain relatively unchanged? Experts and Bankrate analysts predict where mortgage rates are headed over the next week.This week (May 30-June 5), 40 percent of the panelists believe mortgage rates will rise over the next week or so, 40 percent think rates will fall, and 20 percent believe rates will remain relatively unchanged (+-2 basis points).

Sounds like a tie doesn't it.  The word on the street is rates are going up, we just don't know how fast.  Values are still going up and in some areas faster than others.  Contact RooPho Realty for more information.

900 Devonshire Condominiums

 Located just North and East of 7th Street and Indian School, 900 Devonshire is a gated community with 4 floors.  All units are flats and the buildings all have an elevator.

Nice floor plans with 1, 2 and 3 bedrooms.  Some have very large kitchens with a lot of cabinets and counter space.

Some units come with 1 car garages.  The community also has a heated pool, spa and workout room.


Prices continue to be in the low, between $90k and $120k for the 2 bedrooms.

You Tube video for 900 Devonshire

Contact me if you'd like more information.
Chris@RooPhoRealty.com or 602-224-0554

Fewer Homes for sale in Phoenix!

The number of Americans who signed contracts to buy hoems ticked up in April to the highest level in three years, pointing to growth in home sales in the coming months.

But fewer homes for sale may be holding back sales in tight markets out West, such as Phoenix and Las Vegas. In those cities, many homeowners still owe more on their mortgages than their homes are worth.

Investors are still buying homes up also.  There are fewer bank owned homes and short sales than in the past year.  Although there are still many homeowners 'underwater' on their mortgages, these may be the people who are going to tough it out and keep their payments up to date.

www.AZNativeProperties.com

Phoenix had hte biggest increase in home values in the Nation.

U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover.
The Standard & Poor’s/Case-Shiller home price index released Monday also showed that all 20 cities measured posted annual gains for the third straight month.
And prices rose in 15 cities in March from February. That’s up from only 11 in the previous month.
Annual prices rose in Phoenix by 22.5 percent, the biggest gain among cities. It was followed by San Francisco (22.2 percent) and Las Vegas (20.6 percent).
New York City had the smallest annual increase, at 2.6 percent. It was followed by Cleveland with 34.8 percent.

www.AZNativeProperties.com

New Home permits up in Phoenix in April 2013.

New-home permits climbed in metro Phoenix during April, but new-home sales fell, according to the latest RL Brown report.
The decline in sales isn’t due to a drop in demand, though, according to housing analysts RL Brown and Greg Burger. They concluded fewer homes sold last month than in March because there were fewer built and ready for buyers to close on them. Last month, 1,290 single-family permits were issued, up from 1,258 in March.
New-home sales in April fell to 860, compared with 1,020 in March. The top spots for new-home sales in April: Gilbert, Queen Creek, the southwest Valley next to Interstate 10 and Vistancia in the northwest Valley, as well as other areas close to the Loop 303.
Median new-home prices in Maricopa County have been climbing since September and recently topped $280,000, according to Brown’s April Phoenix Housing Market Letter. In Pinal County, the median price is almost $189,000.

Madison Groves Manor

 Madison Groves Manor is a small gated community of single family homes tucked away south of Glendale Ave near 14th Street and Maryland. 

There are only 22 homes in the whole community.  It's nice to be where everyone knows your name and watches out for their nieghbor. 

 Homes are 2 to 4 bedrooms and range from 1250 square feet all the way to over 3300 square feet.

All homes have a 2 or 3 car garage and a private backyard.

There's also a heated community pool and spa for everyone to enjoy.

 The community is located close to the 51 freeway entrance of Glendale Ave and Bethany Home Road.  Very easy access to The Biltmore, Downtown Phoenix and Sky Harbor Airport.

It's also just a short walk or ride to Piestewa Peak and the hiking trails, mountain biking trails and picnic tables.

Contact RooPho Realty at 602-224-0554 or Chris@RooPhoRealty.com for more information on Madison Groves Manor or any other community in the Valley.  We help people buy and selle homes throughout the Valley.

 

 

 

 

Canterra at Squaw Peak

 Have you heard of Canterra at Squaw Peak?  It's a gated community with 2 and 3 bedroom condos.

Located just West of the 51 on Northern Ave.  Basically it's in the middle of the Valley with easy access to everything.  Just a few miles down the 51 from The Biltmore area and a not much more than 15 minutes to Downtown Phoenix or Sky Harbor Airport.

The condos have open greatroom style floor plans with balcony's that can fit a table for 4.

Many units have great views of Piestewa Peak and mountain preserve land.

All units have a private garage, some are 1 car and others are 2.

There's also a large community pool for cooling off after a warm day or a workout in the community gym. 

Currently prices are from the high $100's to the mid $200's. 


Contact RooPho Realty at 602-224-0554 or Chris@RooPhoRealty.com for more information on this or many other communities throughout the valley.

Piestewa Peak Area Real Estate

RooPho Realty helps buyer's and Seller's all over the valley and we just added a new page with properties in the Piestewa Peak / Squaw Peak area.  Check out the great communities listed near the Peak and all the other areas of Metro Phoenix.

We can help you with all residential properties throughout the valley.

Phoenix leads the market in Home value increases

Phoenix led all cities with an annual gain of 23% in February. Prices jumped nearly 19% in San Francisco. In Las Vegas, home prices increased 17.6% and in Atlanta they rose 16.5%.

If you thinking of selling your home, Contact RooPho Realty at 602-224-0554.  We'll get you the best price for your home.

Pending Home Sales up Nationwide in March.

The number of Americans who signed contracts to buy homes rose in March to the highest level in three years.

The National Association of Realtors says that its seasonally adjusted index for pending home sales rose 1.5 percent to 105.7. That’s the highest since April 2010, when a homebuyer’s tax credit boosted sales. It’s also above February’s reading of 104.1.

Signed contracts are 7 percent higher than they were a year earlier. There is generally a one- to two-month lag between a signed contract and a completed sale.

www.AZNativePropertie.com

Housing values continue to rise.

U.S. home prices rose in February compared with a year ago by the most in nearly seven years, as a growing number of buyers bid on a limited supply of homes.

The Standard & Poor’s/Case-Shiller 20-city home price index climbed 9.3 percent in the 12 months ending in February. That’s up from an 8.1 percent gain in January.

www.AZNativeProperties.com

New Construction Housing Starts up...

The annual pace of housing starts topped 1 million for the first time in nearly five years in March, another sign of the rebound in the sector.

The pace of housing starts came in at an annual rate of 1.04 million in the month, up 7% from February and 47% from a year earlier. It marked the first time since June 2008 that the pace of building crossed the 1 million benchmark.

Great news for the housing recovery.

www.AZNativeProperties.com

Foreclosures are dropping nationwide

Foreclosure filings -- including notices of default, scheduled auctions and bank repossessions -- during the first quarter fell 23% from a year earlier, the lowest level since the second quarter of 2007.   Last month, banks repossessed just under 44,000 homes. In September 2010, repossessions topped 100,000 a month.

Luxury Homes sales are up in Phoenix

At the beginning of April, there were 2,267 houses listed at $500,000 or more on the market, a 3 percent increase from March, according to the latest report from Walt Danley Realty and Arizona State University housing analyst Mike Orr.

Of the upscale houses for sale, 90 were short sales. That compares with 182 short sales offered on houses priced above $500,000 in April 2012. Only 13 of the homes were lender-owned. Last year, 47 luxury houses were lender-owned.

There are 462 houses for sale in Phoenix area priced above $2 million, compared with 444 last year. There is only one lender-owned house priced above $2 million.

Luxury-home sales are up from last year. During March 305 houses priced above $500,000 sold, compared with 266 last March.

Source:  By Catherine ReagorThe Republic | azcentral.com Fri Apr 19, 2013 11:17 AM

www.AZNativeProperties.com

Home Sales rebounded in March 2013, the 2nd best in 3 years.

WASHINGTON -- U.S. sales of new homes rebounded in March to the second fastest sales pace in three years, adding to evidence of a sustained housing recovery at the start of the spring buying season.

The Commerce Department says sales of new homes increased 1.5 percent in March to a seasonally adjusted annual rate of 417,000. Sales had reached a pace of 445,000 in January.

New-home sales are still below the 700,000 pace considered healthy by most economists. But they have risen 18.5 percent from a year ago. The median price of a new home was $247,000 in March, up 3 percent from a year ago.

Metro Phoenix population is growing and helping the housing market.

Arizona and Phoenix have had incredible growth since before my parents moved here in the late 1950's.  Every decade Metro Phoenix has approximatly doubled in size over 10 years prior and it's not stopping now, not even after the housing boom and bust we have recently been through.  In fact, people moving to the Valley for a better economic life is helping us get out of the housing recession.  Here's a few facts..

— The Phoenix area is expected to grow by approximately 96,000 people a year for the next three decades.
—The region’s population will increase to 6.9 million in 2040 from 4.3 million now.

Check out properties at www.AZNativeProperties.com

Investors are buying less in Metro Phoenix, but still buying.

Wall Street funds and other large well-funded investors continue to buy houses in metro Phoenix, even though the pace has slowed as sales prices have jumped.

Some of the early investors, who bought in 2009, have flipped the houses for a quick profit, but most of these buyers are holding on to the properties and turning them into long-term rentals.

Get information on Urban Properties

Foreclosures down nationwide

The number of U.S. homes repossessed by lenders last month fell to the lowest level in more than five years, the latest evidence that the nation’s foreclosure crisis is abating amid an improving housing market.

While some states still saw increases in homes taken back by banks, nationally homes repossessions fell 3 percent in March from the previous month and were down 21 percent from a year earlier, foreclosure listing firm RealtyTrac Inc. said Thursday.

Get more information on properties in Metro Phoenix

Mortgage interest rate falls to lowest since 1971

Mortgage buyer Freddie Mac says the average rate for the 30-year fixed loan fell to 3.43 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971.

The average rate on the 15-year fixed mortgage dipped to 2.65 percent from 2.74 percent last week. That’s slightly above the record low of 2.63 percent, also reached in November.

Low mortgage rates are helping sustain a housing recovery that began last year. Home sales and residential construction are up, prices are rising and more Americans are refinancing. That’s helped the broader economy.

Check out properties at www.AZNativeProperties.com

Bidding wars are back

Just when we thought the real estate market was leveling out and we might be getting back to something that feels like a "normal" market, the bidding wars are back. 

There are so many investors and non-investors trying to buy a home, many listings are getting multiple offers the first day on the market.  This allows the seller to ask if you want to raise your bid or take the chance of loosing out. 

I've seen this happen everywhere from the Urban properties to the suburbs.  It can be great for the seller but many buyers are getting frustrated. 

I suggest you take your time and don't get emotional.  That's when you can tend to over pay for a property.  Just relax and consider what the property is worth to you and let the chips fall where they may. 

When can you buy again after a short sale or a foreclosure?

Most banks won't approve you for a mortgage for 2 years after a short sale and 3 years after a foreclosure.  Many people who had these issues a fews years ago can now consider buying a home.  If you fall in this cateogry, call me and I'll help you determine if this is a good time for you.  Prices and interest rates are still low but slowly going up.  Now can be a great time to buy a home.

Residential Real Estate inventory on the market continues to decrease

As the residential inventory continues to go down, property values go up.  At the same time interest rates are sneeking up.  It's still a really good time to buy. 

A couple years ago, Bank Owned and Short Sales were really not much less expensive then anything else, but now they seems to be some of the best buys on the market. 

www.aznativeproperties.com

Phoenix area home prices increased by 22.7%

Home prices in the Phoenix area increased by 22.7 percent in January making it the largest increase in the nation. CoreLogic’s report released today says the change represents the 11^th consecutive month of national price increases. Mark Fleming, the chief economist for CoreLogic, says this is a sign the housing market is gaining momentum, and will enter the spring selling season on sound footing.  Post on KJZZ.org, By: Kendra Worsnup on 03/05/2013

Information on Metro Phoenix properties at www.AZNativeProperties.com

Artisan Village Condo For Sale

 There aren't many properties like this in downtown Phoenix.  This condo has just over 1600 square feet, 2 master bedrooms, 2 walk-in closets, 2 car garage and 2 private courtyards. 

Artisan Village has a heated lap pool and dog park. 

Located in the Roosevelt Row Arts District with easy access to the freeway system and walking distance to the light rail and everything in Downtown.

Contact Chris@RooPhoRealty.com

 More information at RooPho Realty.

New Listing at Fontenelle Lofts

This is a great listing and sure to fit the taste of many Urban Dwellers.  Check out Fontenelle Lofts at 3rd Ave and Roosevelt.  This building was built in the 1930's and restored in 2004.  This unit is all new in '04 and located above the garages and contains many of the features of a true loft.  There are 2 bedrooms and 1 bath and the whole unit has a lot of windows with high and exposed ceilings.  This unit has a 1 car garage and a 1 car covered space. 

Accross the street is the Gold Spot shopping corner with Lux Coffee and Pita Jungle.

See the full listing here.  Then contact me at Chris@RooPhoRealty.com or 602-224-0554 to see the property.

More information on Urban Real Estate is at www.AZNativeProperties.com

Real Estate Economy getting better

A good indicator that the real estate market is getting better are the number of building permits filed by builders.  2013 is off to a good start with the greatest number of permits in January since June of 2008.

Permits are a sign that builder's are more confient in the market and will start building again.  Nationally permits are up 2% over December 2012 but 35% over January 2012.

The market continues to get better nation wide with Metro Phoenix leading the pack.  The median value of a home in metro Phoenix went up almost 16% in 2012 while homes sales went up 34%. 

The overall value of single family homes in Maricopa county was $127,000 in 2012, up from $109,000 in 2011. 

These are all good signs the housing economy is improving and it's the right time to buy.  Contact me to see if it's the right time to buy for you.  www.AZNativeProperties.com or 602-224-0554

Arizona's mortgage delinquencies rate falls to 5.18%

Arizona had the sharpest decline in home-loan delinquencies in the U.S. in 2012, pushing its overall rate to slightly less than the national average, according to a report from TransUnion, the credit-reporting and information-management company.

Read the whole story

As delinquencies fall the housing economy will level out.  Contact RooPho Realty if you're thinking of buyer or selling to see if it's the right time for you.

Is the housing market heading for another bubble?

Home prices have increased 8% in December 2012 compared to December of 2011.  Home sales have also increased over last year.  This is giving many the confidence to sell and move up before values get too high or interest rates go up. 

Investors continue to buy up distress properties in hopes of flipping them and making a big profit.  Many homes on the market are price high at first and then some have to reduce the price to get an offer.  On the other hand, properties that are priced right can go for over asking price when speculators feel the values are going up.

So, can we be headed for another bubble?  It's hard to say and although home prices are still very low compared to 2008 when they hit a peak, values are going up fast just like before.

"I would say we have a housing bubble again," said David Stockman, former director of the Office of Management and Budget under President Reagan, told Yahoo! Finance, who recently has been working in the private equity sector. "We don't have a real organic sustainable recovery because, in a world of medicated money by the central bank, things aren't what they appear to be. ... It's happening in the most speculative subprime markets, where massive amounts of 'fast money' is rolling in to buy, to rent, on a speculative basis for a quick trade. And as soon as they conclude prices have moved enough, they'll be gone as fast as they came."

Foreclosures lowest since 2007 in Metro Phoenix

Foreclosures and foreclosure starts are at their lowest levels since 2007.  According to the information market, 1339 homes were forecloses on in January.  Many months from 2009 to 2011 were from 4000 to 5000 per month. The Phoenix housing market is no longer driven by the foreclosure market and there is no shadow market. 

Check out AZNativeProperties.com for a great selection of Urban Properties in Metro Phoenix.http://www.aznativeproperties.com/

Real Estate values up the most in over 6 years

Not only have home values in the US gone up the most in 6 years, Arizona real estate increased the most. 

Home prices when up 8.3% from Dec 2012 over Dec 2011 which was the largest increase since May '06.  Values improved last year in 46 of the 50 states.  Arizona increased an average of 20.2%.

Arizona does not have many properties on the market and many are selling in just days.  Many seller's are trying to take advantage of the increase in values as well as the low inventory and asking higher prices.  You need a Realtor specializing in many neighborhoods and able to help you determine the real market value before you make an offer.

Many economists expect values to continue to rise this year for previously owned homes.  New home builders are getting more confidence in breaking ground and started more homes in 2012 than in the last 4 years.

Assisting the housing markets improvement are the low interest rates and job growth throughout the country. 

RooPho Realty covers the entire Metro Phoenix real estate market.  Contact Chris@RooPhoRealty.com for more information on the market and the area you want to live.

Safari Drive Community, Scottsdale AZ

 Safari Drive Commuinity are located on the northside of the Camelback Road and just east of Scottsdale. 

Safari Drive community has a beautiful Zen Garden and heated pool.  Floor plans range from 900 square foot 1 bedrooms to 3000 square foot 2 bedrooms. 

Kitchens are upgrade for your best home cooking.  Nice large windows for great light and views.

If you enjoy the location and are looking for something a little different in size or style, contact RooPho Realty for Realtors who specialize in urban condos.

RooPho Realty also works valleywide for single family homes, townhomes and condos.

Contact us at www.AZNativeProperties.com or 602-224-0554.

Bridgeview at Hayden Ferry Lakeside, Tempe AZ

140 E RIO SALADO PKWY 702
Tempe, AZ 85281

 Bridgeview at Hayden Ferry Lakeside is a wonderful luxury condo building with many amenities and the best one being the location.  It overlooks Tempe Townlake and is walking distance to Tempe Mill Ave and all the entertainment and shopping it has to offer. 

The community is complete with a heated pool, community room, billards, theater room, work out room and fantastic views.

It's also just minutes from Sky Harbor Airport and Downtown Phoenix.

 If you're interested in condo living anywhere in Metro Phoenix, you need a Realtor who specializes in high rise and condo living.  RooPho Realty was established to serve the urban community.

Along with condos, most historic districts are also located in the Urban Centers of Metro Phoenix, so we also specialize in single family homes located in the Metro Phoenix Historic Districts. 

Contact Chris F Campbell at Chris@RooPhoRealty.com or 602-224-0554 for more information.

New home construction expected to increase in 2013

2012 saw 11,615 new homes started and built in Metro Phoenix, that's more than any year since 2007.  Analysts believe we could see 16,000 homes built this year.

That's no where near the boom of 2005 and 2006 when 60,000 homes where built in each year.  No one really wants to see that happen again.

I like to think the public is wiser and won't let that happen again.

There are some new condominiums being built, Portland 2.  These conominums located in downtown Phoenix, are the only ones currently being built south of I-10. 

There are still many homes on the resale market and they are selling fast.  There are currently about 150 homes and condos on the market in the Downtown and Mid Town area of Phoenix. 

Ravens View Condos, South Mountain, Phoenix, AZ

Ravens View Condos are located at Ravens Golf Course and many of the condos have views of the course or of South Mountain.  The floor plans are 1, 2 and 3 bedrooms.  The community was built in 1999 and is gated with a community pool, spa and work out room.  Located at 34th Street and Baseline Road, it's only about 15 minutes to Downtown Phoenix and Downtown Tempe.

Get more information on www.AZNativeProperties.com or contact Chris Campbell at Chris@RooPhoRealty.com or 602-224-0554.

South Mountain, Baseine Corridor Condos and Townhomes

South Mountain area and the Baseline Corridor have many great condo and townhome communities.  Many have views of golf course or the mountains and are close enough to enjoy the hiking and biking available on South Mountain. 

This area is also only about 15 mintues from Downtown Phoenix to the north and Downtown Tempe to the east.  This location makes it great for people who work in the Urban Centers and still want to live in suburbs and close to hiking, biking and other activies in South Mountain Park. 

Some of the communities have 2, 3 and even 4 bedroom homes.  Many also have 1 or 2 car garages and community pools, spas and workout rooms.

Get more informaiton on these and many areas of Metro Phoenix at www.AZNativeProperties.com or Contact Chris F Campbell at Chris@RooPhoRealty.com or 602-224-0554

Arrowhead Condos and Townhomes

If you're interested in living in the Northwest Valley, considering looking at Arrowhead condos and townhomes.  There are many nice places, mostly built since the 1980's and close to shopping, restrurants and entertainment.  The Sports complex for football and hockey are easy to get to and of course all the events these stadiums do throughout the year. 

Madison Place Townhomes

Madison Place started building again.  I don't have current prices but this community was started in 2008 just when the market started to crash.  The developer stopped building and reccently started up again. 

They have a great location just north of Camelback on 16th Street. 

They have 1 bedrooms + den and a 2 bedroom townhomes.  They have very nice standard features such as upgarded cabinets and granite counters, upgrade carpet and some wood floors.  Check out Madison Place on my website for some pictures and call me for more information.