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
Thursday, February 28, 2013
Friday, February 15, 2013
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.
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.
Tuesday, February 12, 2013
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."
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."
Monday, February 11, 2013
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/
Check out AZNativeProperties.com for a great selection of Urban Properties in Metro Phoenix.http://www.aznativeproperties.com/
Thursday, February 7, 2013
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.
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.
Tuesday, February 5, 2013
Safari Drive Community, Scottsdale AZ
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.
RooPho Realty also works valleywide for single family homes, townhomes and condos.
Contact us at www.AZNativeProperties.com or 602-224-0554.
Monday, February 4, 2013
Bridgeview at Hayden Ferry Lakeside, Tempe AZ
140 E RIO SALADO PKWY 702 Tempe, AZ 85281
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.
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.
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