We may not be in the top 25 but we are number 26. Phoenix real estate market is again becoming one of the best in the country. Contact me if you're thinking of buyer or selling.

New home sales surprised with an 18% climb in August. Sales hit the highest level since May 2008. New home sales account for about 10% of the market. In contrast, August's existing home sales fell slightly. Overall they continued the summer's steady pace. Rising prices may be pushing investors out of the market.

It's hard to keep up with all the numbers reported about the economy and which numbers affect the recovery and how. This report helps. Watch 1. People's spending, 2. Home buying and building and 3. Manufacturing. Read this report on how they affect the recovery.

CNN article.

Home building across metro Phoenix fell in August to the slowest pace in more than a year. New-home permits dropped to 838 last month, according to the latest research from RL Brown Housing Reports. That's down 29 percent from August 2013 and down 18 percent from July of this year.

New construction homes coming to North Tempe. Let me know if you have any questions or interest in this new community. Get in early and pick your location in the community.

The 2014 property taxes levied are 5.4 percent higher than last year, according to the Maricopa County treasurer. Current property taxes are based on valuations from 2012, when home prices began to climb back from the crash.

Tapestry on Central has 19 condos for sale ranging from $219,000 to $386,000. Enjoy life on Central Ave with the Metro Light Rail just outside your door. Give me a call for more information.

Looking to live the High Rise Life? There are 38 condos for sale in High Rise buildings along Central Ave ranging in price from $127k to $450k. Call me for more information. 602-224-0554

Home values have increased in Metro Phoenix over the last year on average $6k and are now flattening out. No one expects them to change much for the rest of 2014. So if you're looking to buy or sell don't be in a hurry. Just relax and call me when you're ready to buy or sell, I'm not going anywhere.

A big problem with home sales has been the Millennials are not buying like that age group had in previous years. That creates a chain reaction when people that want to move up don't have as many people looking to potentially buy their home.

The Phoenix Business Journal reported the other day Metro Phoenix home sales was in a slump in the Spring and early Summer. That's pretty much what a few Realtor friends of mine and I felt. I guess we Realtors on the front lines of homes sales really do feel the housing economy first. But, sales have picked up again in the last 4 weeks or so and that's a good sign. Let's hope it continues.

Pending home sales rose sharply in May, with lower mortgage rates and increased inventory accelerating the market, according to the National Association of Realtors. First Time Home Buyers are still not buying as strong as preferred by most analyst at 27% of the contracts. Pending home sales is an indicator of where the market MAY be going so caution is advised. Western states are fairing better than most others.

March home value numbers are in and it doesn't look like Metro Phoenix will have another housing bubble. Even though home values rebounded as much as 65% in some valley areas. The medium priced home in March was $205,000 and holding steady. With home values and interest rates holding steady if you want to buy or sell, now's a good time to contact RooPho Realty.

To arrive at an "affordable" home price, follow the guidelines of most lenders. Allowed a total debt-to-income ratio of no more than 36 percent. And assume a housing payment-to-income ratio of 28% for a conservative estimate, and 33 percent for an aggressive one. Before buying, however, you should also factor in other savings needs, including retirement and college. ASSUMPTIONS: Assumed a 30-year mortgage term, annual property tax of $2000 and homeowners insurance of $500 for the metro Phoenix area. If you need help, contact me at RooPho Realty and I’d be happy to help.

Metropolitan areas with sales declines from a year ago include Boston (-23%), Fresno (-22%), Orlando (-18%), Los Angeles (-16%) and Phoenix (-13%).

It's estimated that home prices nationally are 3% undervalued in the second quarter of 2014 (2014 Q2), which is far from bubble territory.

Advice to first time home buyers or buyers getting back into the market after foreclosure or short sale; Be sure you can afford the house and don't expect a quick profit.

Rock-bottom mortgage rates moved even lower this week, hitting 4.12% for a 30-year fixed rate loan, according to Freddie Mac.

Thinking about buying a house? Start with this check list. 1. Decide how much you want to spend. 2. Check your credit report and score. 3. Find a lender to determine how much you can borrow. 4. Call RooPho Realty to start researching neighborhoods and what you can buy in your budget.

New home sales in the US jumped 18.6 percent last month following a 3.7 percent increase in April, the Commerce Department reported Tuesday. The gains followed declines in February and March that were blamed in part on harsh winter weather.

Instead of renting an apartment or buying a home, a large number of Americans in their 20s and early 30s are living with family or tripling up with roommates. That's because younger Americans are having an especially tough time since the recession.

http://www.npr.org/2014/06/18/323328258/housing-market-sluggish-due-to-millions-of-missing-households

Homes sales in the US were up 4.9% in May '14 over last May. However, sales in the Valley were flat in April '14 over last April and not really expected to go up much in this summer. We'll see what our numbers were in May soon.

Metro Phoenix home-sales prices were flat in April, one of the region's prime sales months. And the forecast isn't upbeat for price increases during the rest of 2014. The median sales price of a Valley house was $205,000 in April, according to the latest report from the W.P. Carey School of Business at Arizona State University. That compares with $204,900 in March and $205,000 in December. - From AZCentral.com

Phoenix-area home prices rose fast from September 2011 to last summer, before slowing down and then even dropping a little bit earlier this year. This April, for the second month in a row, the median single-family-home price was just under $205,000. That’s up 13 percent – from $181,399 last April to $204,900 this April. Realtors will note the average price per square foot was up 12 percent. The median townhouse/condo price went up 4 percent. - from AZBigMedia.com

Did you hear? USAToday newspaper rated Roosevelt Row Arts District one of the 10 best Arts Districts in the US. Congratulations to Rooosevelt Row.

http://www.usatoday.com/story/experience/america/best-of-lists/2014/05/07/10-best-city-art-districts-around-the-usa/8807535/

Under other circumstances these numbers wouldn't sound as good but after the Great Recession, these numbers sound great. From AZCentral.com - Only 20.6 percent or 186,539 Valley homeowners are underwater now, according to a new report from real estate research firm CoreLogic. During the crash's low point for home prices in 2011, nearly 50 percent of Phoenix-area homeowners owed more on their mortgage then their home was worth.

It's really nice when you've helped someone find a great home and they appreciate it enough to write a review.

http://www.zillow.com/profile/Chris-F-Campbell/Reviews/?review=816623

There are currently many condos for sale in Optima Camelview. This is a great community with beautiful landscaping on every floor and for every balcony. Located on the north side of Scottsdale Fashion Square you can walk to a lot of shopping and restaurants.

http://www.aznativeproperties.com/lofts_condos_highrises/scottsdale/optima_camelview/ 

Buying a home soon? You'll need to get the right Realtor and lender to work with you to achieve your goal and make the whole process go smoother. I work hard with your lender, the seller's agent and the title company so you don't have to stress about the details.

Interest rates drop to the lowest levels since October 2013. Currently you can get 4.2% interest on a 30 year fixed mortgage. With property values leveling off, now is a good time to buy.

VA home mortgages are up 18% in March 2014 over the previous March. Vets are taking advantage of the low interest rates and VA mortgages which can be gotten for no down payment.

In the first three months, home prices rose 10.3% on an annual basis, according to the S&P/Case-Shiller report. In March, an index of 20 large housing markets gained 12.4% year-over-year. Values are still going up but I expect the increase to slow throughout this year.

In the first three months, home prices rose 10.3% on an annual basis, according to the S&P/Case-Shiller report. In March, an index of 20 large housing markets gained 12.4% year-over-year. Values are still going up but I expect the increase to slow throughout this year.

http://www.aznativeproperties.com/

There are currently 17 condos for sale at Tapestry on Central. They range in price from $228k to $382k. These are all 2 and 3 bedroom condos. The community is located right on Central Ave at the Encanto Light Rail Stop. Contact me for a list of everything on the market right now or just enjoy the community pictures in the link below.

RooPho Realty just took a listing in very desirable Central Phoenix Royal Palm Neighborhood at 7th and Northern Ave's. Take a look at the pictures of this open floor plan with comfortable backyard and a refreshing pool and covered patio that stretches almost the whole length of the east facing backyard. 4 bedrooms 2.5 baths and 4 car garage. The only home in North Central under $500k.

8045 N 8th Ave

Are you thinking of selling your home? Don't start the remodel now, you don't get much back in the appraisal if you do to much. Some homes need to be painted inside, get the squeaks out of the doors and fix kitchen drawers to slide nicely. If you think your home needs more, contact me and we'll do a walk through together.

RooPho Realty has 2 great listings in Downtown and both have recently reduced their price. Portland 2 is a great 3 bedroom, 3.5 bath home just a block from Roosevelt. It's very contemporary design is still hard to find in Downtown. It also has almost 1600 square feet and a 2 car garage. Priced now at $334,900, you can't get this much space and comfort in Downtown. Check out the pictures in the link and call me to see it.

More information about RooPho Realty's Portland 2 listing.

Brick Commons is a nice community near 7th Street and Osborn. Great location where you can walk to the Light rail and restaurants. There are currently only 3 units for sale ranging in price from $115k to $150k.

More information about Brick Commons.

January and February home sales started the year off well but March was flat. "Sales of both new and existing homes are flat to down," said David Blitzer, spokesman for S&P. "The recovery in housing starts is faltering. Home prices nationally have not made it back to 2005 [levels]. Mortgage interest rates, which jumped last May, are blamed by some analysts for the weakness. Others cite difficulties in qualifying for loans and concerns about consumer confidence. The result is less demand and fewer homes being built."

Summit at Copper Square

The Summit at Copper Square High Rise Condominium is just across the street from Chase Field and 2 blocks from USAirways Arena. There are currently 16 condos for sale ranging in price from $177k to $469k. Contact me if you'd like more information or if you'd like to see them.

The 21st Annual Cinco De Mayo Festival in Downtown Phoenix at 2nd street and Van Buren. Saturday and Sunday, May 3rd and 4th.

http://arvizu.com/Arvizu-Events-Description.php?e=cincophx

Metro Phoenix home values fell in January 2014

Home prices and sales in most neighborhoods across the Phoenix area fell in January, signaling the region’s robust housing recovery is slowing, stalled or over after two frenzied years. But the slowdown comes after a more than 70 percent rebound in home values. By Catherine Reagor The Arizona Republic

Nationwide home values went up 11.7%, now what?

Nationwide home values went up 11.7% in the first 3 quarters of 2013, then dropped 0.3%  in the 4th quarter.  In January, nationwide home sales fell to an 18 month low.  Experts believe the high gains of last year may be over and values will go up slowly from here and for a while.  The good news in all this?  We know what happens when values go up too fast.  Hopefully the market will remain stable for a while. 

Plaza Residences have 5 condos currently for sale.

The Plaza Residences in Scottsdale currently have 5 condos on the market ranging in price from the low $200's to the low $300's.  These 2 and 3 bedroom Scottsdale Condos have upgrades from hardwood floors to granite counter tops. And community amenities including, garages for select units, business center and a theater room.

Metro Phoenix home values still going up, but slower.

Metro Phoenix home values went up 18% on average over the last year.  They are expected to up another 4% this year and just under 3% in 2015.  This is not unlike what happened in the 90's after the recession of the late 80's.  Home values went up very slow then too. 

Interest rates going down, Heading toward 4%

Interest rates going down, Heading toward 4%

Phoenix is one of the top 10 cities people are moving to in the US.

Phoenix is one of the top 10 cities people are moving to in the US.  With all the sunshine, jobs and affordable homes for the working and middle class, Metro Phoenix continues to be a favorite place to live.

Other desirable cities are Huston, Chicago, Orlando, Dallas, Seattle, Tampa, Atlanta and Las Vegas. 

Metro Phoenix Housing recovery better for resale than new construction homes.

RL Brown reported last week the local housing market has recovered with resale home sales improving more than new construction.  The combined number is closer to historical trends.

Nationwide home prices went down from Nov 2013 to Dec 2013.

CHRISTOPHER S. RUGABER
AP Economics Writer

U.S. home prices slipped from November to December, and the year-over-year increase slowed, likely a result of weaker sales at the end of last year.

Real estate data provider CoreLogic says prices dipped 0.1 percent in December. It was the third straight month-to-month drop. Home prices had risen for eight straight months through September.
For all of 2013, prices rose a healthy 11 percent. That was roughly equal to the 11.4 percent price increase for the 12 months that ended in November.

More Homes for sale in the Phoenix market

There are 40% more homes for sale in the Metro Phoenix market making it a better market for Buyer's than last year.  With interest rates still very low, Buyer's are coming back and still getting good deals.  Home values have increased in the last 18 months but prices have leveled out and don't appear to be going up very fast.

Homes near Phoenix Light Rail are selling fast. Click on the date below for more information.

Locally, in the Metro Phoenix market, residents are wanting to live in the Urban areas more and more.  Catherine Reagor, of AZCentral.com, reports "By percentage, growth of infill home building is outpacing the rest of metro Phoenix's new-home market."  She also reported "New houses going up near the Metro light rail are selling within days and sparking bidding wars. For-sale signs posted on lots vacant for decades are being replaced by dirt movers and contractors' pickups."

2014 expected to be a better year for real estate.

Nationwide the housing market continues to improve with more inventory expected on the market in 2014 vs 2013 however it should still be considered a sellers' market because the supply of homes will still remain about 15% below historical norms.

Housing market continues to improve.

Nationwide the housing market continues to improve with more inventory expected on the market in 2014 vs 2013 however it should still be considered a sellers' market because the supply of homes will still remain about 15% below historical norms.