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.

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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.

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

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. 

Portland 2 in Roosevelt Arts District

 If you're lookin gto move Downtown but still want contemporary comforts like 3 bedrooms, 2.5 baths and a 2 car garage, you should consider Portland 2. 

Located just off I-10 and 7th Street, you can walk to anything downtown including the Light Rail stop and also hop on the Freeway system.

These units have high standard features so up grades are available but certainly not mandatory. 

They have standard hardwood floors, upgraded kitchen cabinets and slab granite counters. 

There are large windows so you can enjoy all the views.  Some exposed duct work and metal staircases.

Some units will be complete by Feb 2013 and others will be completed by the summer of 2013.  If you want the chance to pick your own cabinets, flooring and finishes, now is a good time to see them and start building your dream 

home downtown.

Contact me at Chris@RooPhoRealty.com or 602-224-0554.

You can also get more information at Portland 2.

And more information about real estate throughout the valley at www.AZNativeProperties.com.

Willo Historic District

The Willo Historic District is one of the larger districts in Phoenix and one of the most desirable. 

Located in Mid Town primarily between Thomas Rd and McDowell Rd, 7th Ave and Central Ave.

There are many styles of homes including Early Ranch , Tudor Revival and Spanish Revival.

Most of the nieghborhood was built in the 1920's and 1930's for the middle class families.  This created larger homes then in other historic districts with many having 3 bedrooms and 2 bathrooms. Values currently range from the mid $100's to the mid $500's. 

Willo as well as many other historic districts in Metro Phoenix do have annual home tours where they will open 15 or so homes that you can tour and see some wonderful historic homes and some have been updated nicely with more contemporary kitchens and baths.

Once a neighborhood is designated historic the home owners must follow the rules of maintaining the historic significance of the home and the nieghborhood.  There are also matching grants the city gives out each year for homes that qualify. 

 

There are many historic districts in Phoenix with many styles of historic archtecture, square footage and price ranges. 

 

Contact Chris Campbell for more information on Willo or any other historic district in Metro Phoenix.  More information at www.AZNativeProperties.com



Cathedral Townhomes, Downtown Phoenix

Metro West Development restored a historic 1913 building and created four modern townhouses ranging in size from 1,674 to 1,886 square feet.   Located about a block from the Arts District light rail stop, they are close to many local restaurants, entertainment venues and everything Downtown Phoenix now has to offer.  This is a must see completely restored historic townhomes new to downtown located in the most dynamic historic neighborhood in downtown Phoenix. Cathedral Townhomes has large bedrooms, walk-in closets, luxury bathrooms, all w/ high spacious ceilings. This residence has been completely restored and include GE profile stainless steel appliances, wood floors, custom cabinetry, and custom millwork throughout. As of today there is only one unit left.  Contact me ASAP if you’re interested at Chris@RooPhoRealty.com.

These townhomes have large open floor plans and assigned parking.  Located just south of Roosevelt on 2nd Ave. 

3rd Ave Palms in MidTown Phoenix

The 3rd Ave Palms has been a favorite of mine for a while.  Located just North of Osborn and a few blocks from the Osborn Light Rail Station, it's a great location in MidTown Phoenix to get anywhere.  There are 1, 2 and 3 bedroom units and a floor plan that has 2 bedrooms and a loft area that can easily be used as a TV room or a den.  Many of the floor plans have open floor plans with great room set ups.  Each unit has a private 1 car garage and most have direct access to the garage.  The community is gated and has a nice pool area with a spa and BBQ grill.  From the location, you can walk to many restaurants and of course the Light Rail to get you Downtown to the Entertainment District.  If you want more information, check out my website or email me.