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.

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

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. 

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.

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

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

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

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

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

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/

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.

Brownstone At Hyde Park, Tempe AZ

 If you like the feeling of Chicago, Boston or San Francisco, you should see the Brownstone At Hyde Park. 

The community was built in 2006 with tree-lined streets and brownstone buildings.  It's a charming community just outside of downtown Tempe and not far from ASU. 

 The community has a heated pool and spa and a community room.  The brownstones are 2 and 3 bedrooms ranging in size from 1200 square feet to almost 2000 square feet. Many of the kitchens have upgraded cabinets, counter tops and stainless steal appliances.

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

www.AZNativeProperties.com

Home values not under distress are starting to go up in Phoenix.

As foreclosures and short sales decline, home values having been going up especially for those whose home was not threatened by disclosure.  These are good signs for the overall Metro Phoenix market is getting better a little faster than other areas around the country. 

Many have thought there is a shadow market of homes foreclosed on but not put on the market for sale.  I was one of those people last year and never really got proof if that was accuarate or not.  What I'm seeing today is a lot different.  Any residential property put on the market today at a reasonable price for it's location and condistion are selling within days on the market.  If a property is on the market more than 30 days, I'd ask why.  Sometimes just seeing the property will tell you.  One of the main reason I see is that the property needs a lot of work but is priced as if the work has been done.

Call me and I can do the research of the properties history and get answers to questions you have about the property and find supporting comparible properties to help you understand if the price is right.

See many Metro Phoenix propeties at www.AZNativeProperties.com or contact me at Chris@RooPhoRealty.com or 602-224-0554

Young Amreicans still want to buy homes after the Housing buble and burst

I've heard through the grapevine that many people around the country, including the young adults, have been deterred from buying a home after the bubble and the burst. 

Speaking for my business, I still have many young adults and first time home buyers purchasing homes.  Not to mention empty nesters and retires buying homes in the urban area. 

According to Kristena Hansen of the Phoenix Business Journal, that's not really the case.  Kristena said 75% of Americans between 18 and 35 still believe owning a home is the right thing for them to do and many feel they are better prepared because of leasons learned from the recent boom and bust.

See the whole story here.

For more information on Metro Phornix properties go to www.AZNativeProperties.com or contact me at Chris@RooPhoRealty.com.

Northshore Condos, Townlake, Tempe, AZ

 Enjoy views of the Tempe Town Lake from your living room, bedroom and balcony when you live at North Shore Condos. 

Most of the units at North Shore look over Tempe Town Lake.  There are walking and bike paths around the lake and many picnic areas. 

The condos in North Shore vary in size from 1200 square feet to over 2000 with 1, 2 and 3 bedroom floor plans.

Many of the floor plans are great room designs and the kitchens are contemporary and functional.

The community has a heated pool, spa and workout room.

Located just off the 202 and Scottsdale Road and across the Tempe Town Lake from ASU, you can't beat the area.
If you want information on condos in Tempe or Metro Phoenix, check out RooPho Realty's website or contact me at Chris@RooPhoRealty.com or 602-224-0554.

525 Townlake, Tempe AZ

 Tempe Townlake has become very desireable to live near and around.  525 Townlake is located just west of Mill Ave and facing Townlake.  It's a great location to have fun at the lake or walk to Mill Ave for all the entertainment and shopping available there.

The condos are 2 and 3 bedrooms and 2.5 baths.  The interiors have upgraded cabinets and granite counter tops in the kitchens and all units have a 2 car garage.

Many units over look the lake or the common areas that are lush with grass and trees.  The pool area has canopy's for relaxing around the pool and not getting so much sun. 

For more information on 525 Townlake or any other properties in Tempe, go to www.AZNativePropertis.com or call Chris at 602-224-0554

Vale Condominiums, Tempe AZ

Vale Condominiumes, Tempe, AZ

Tempe has some new and contemporary residential communities.  Vale Condominiums is one of my favorites.  It's unique design and location on University Drive make it a great place for ASU students or professionals working in Downtown Tempe or Phoenix.

Designed by famed local architect Will Bruder, there are 1, 2 and 3 bedrooms, each with unique and contemporary designs. 

Vale Condo Kitchen

On University Ave street front, there are commerical spaces for shopping, coffee and other services right outside your door.

The community also has a pool and workout room.  This is a great Urban property and there are currently three units for sale ranging in asking price from $145,000 to $225,000.

 The two kictens to the left are from two of the units currently on the market. 

Vale Condo Kitchen

If you'd like more information on Vale Condos or any other communities in Tempe, check out our website or contact Chris at Chris@RooPhoRealty.com or 602-224-0554


Regatta Pointe, Tempe Townlake, AZ

Tempe has many nice condos and urban living.  Regatta Pointe was built in 2002 and over looks the Tempe Townlake.  There are 2 and 3 bedroom units and most have a garage and many have a great view of Tempe Townlake.  The standard features are nice with upgraded cabinets, granite countertops and hardwood flooring.  The pool area is one of the nicest in town with outcoves where you can relax privately with a friend while others are around the pool too.  Walking distance to the Light Rail stop on Milll Ave and all the shops on Mill.

 

There is only 1 unit in Regatta Pointe for sale right now and it's listed for $235,000. The living room is open to dining and kitchen and there are great views of Tempe Townlake. Regatta Pointe unit 209

For more information about Regatta Pointe and other Tempe Condo Properties go to www.AZNativeProperties.com or contact Chris at Chris@RooPhoRealty.com or 602-224-0554