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| Phoenix Scottsdale Arizona Property managemnt news |
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| In-depth anaylsis, resale list http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/IDA-r-sales-010-08.htm |
| Indepth analysis,volume sales http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/IDA-r-sales-price-010-08.htm |
| In-depth anaylsis, new listing http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/new-listings-010-08.htm |
| In-depth anaylsis July MLS http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/IDA_ARMLS-010-08.htm |
| In-depth analsis, Bank owned http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/REO-010-08.htm |
Articles and Advice |
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David's Real Estate Views My thoughts on this and that By David Thank you to all of you who expressed our condolences to me over the recent death of my beloved wife, Jan. I am in the process of adjusting to my life without her. I miss her each and every moment but am now able to do everyday things without tears or a lump in my throat. Thank you all for your support... Everyone's question is how big of a slowdown will the local Real Estate Market experience if the US economy stalls or slips back into recession...so far, there is still equilibrium in the markets and in most market segments the supply of homes is under 4.5 months indicating a very healthy market...as the price range increases the supply of homes on the market and the length of time necessary to sell increases; signs of a soft market. The Luxury Market is still suffering, however the price ranges under $300,000 are doing much better with current bias to the upside. Single Family Rental Homes are leasing quickly lowering the vacancy factor and rental rates are starting to rise. At the moment, they are very compelling investment affording cash flow and capital gains potential. An investment horizon of 5 years or longer should be used. There still exists challenges to Housing in Phoenix, Arizona; unemployment, foreclosures, the national economy, and even Immigration. The recovery is not immune to shocks. However, if the US Economy avoids a "double-dip" or a very significant slowdown, the Phoenix Market should continue to recover. Thank you for your support...any referrals you may send are greatly appreciated in this challenging environment. Well,summer is here in Phoenix. Daily temperatures of 108 or so and now in July we are getting a lot of rain. This will lead to new weed growth on most properties. Interest rates continue at all time lows. For those of you who are considering purchasing a foreclosure. The prices are right and the interest rates are low. It makes it possible for you to have a rental with no negative cash flow. Opportunity Knocks....... I am available 5 days a week to answer your property management questions and will be happy to give you my opinion on this and that. In the past 38 years of real estate sales and management, I've formed lots of opinions to share. We are in need of customer referances that we place on the web site. We will only use your initials and email address if you permit. We get a lot of requests for references and it would be greatly appreciated if you would send a short email to us that we can use. Phoenix Arizona Property Management Be sure and check out the articles under Features and Hot Links. Might be the time to invest in a another rental or two to catch the upward bound prices in the coming months.Phoenix Arizona Real Estate Investments
The expected shortage of rentals hasn't occured yet as the unemployment rate continue to go up. The time will come when we have a shortage of rentals but it looks like late fall or early spring in my opinion. Vacancies, if priced right, clean and show well, we are able to find new tenants in thirty days or so. The Phoenix real estate sales were 35% foreclosures and 65% resale inJuly. This reflects a more healthy market although the total listing inventory is down 50% from normal time as owners that don't have to sell, sit out the real estate market waiting for prices to rise Time will tell and we will inform you here first.
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| Commentary “The small gain in the leading [indicator] index is consistent with our expectation for a slow pace of recovery heading into 2011.” [Michael Bratus, Moody’s Economy.com] The existing home sales data, without question, raise serious questions about the ability of the housing market to sustain its recovery. These are the lowest sales figures for July since the National Association of RealtorsÒ started reporting the data in 1999. But they are difficult to read clearly. For one thing, the now-expired availability of federal tax credits for homebuyers has weighed on the sales figures, primarily by packing sales into June that might have waited until July. The inventory build-up is also worrisome, though somewhat understandable after the tax-credit built up inventory of homes for sale. And price appreciation—which managed a weak 0.7% year-over-year rise in July—is uninspiring. Meanwhile, we are getting two very different signals regarding interest rates. Some suggest the rate decline may be ending. The HSH computation of average 30-year rates, including jumbos, rose by a basis point, and the HSH reading for the 1-year adjustable, which seems to get even more volatile than usual when it faces a likely change of direction, jumped a bit—with a 10-basis-point rise. Also, the refi index for mortgage applications took a big jump, suggesting that we may be nearing an interest rate bottom, while the purchase money mortgage applications declined further, reinforcing the sense that the liveliness in the mortgage applications is confined to refis, and therefore inspired solely by how low rates have fallen. But while there is a sense that plunging interest rates may soon be behind us, a report recently noted that the yield on 10-year Treasury Inflation-Protected Securities (TIPS) fell below 1%, which translates into a negative yield for anyone buying now and holding the securities to maturity. Why would you do this unless you expected interest rates to fall further? Perhaps the number of investors anticipating disinflation is larger than we know. Or perhaps this is the last big hurrah for interest rates, and even 10-year TIPS will begin to make sense soon. It’s hard to predict, to say the least. With Bill Gross’s PIMCO back as a buyer of Treasury securities, it’s obvious that there are reliable experts who believe rates will decline further. On the other hand, keeping in mind the hints popping up among economic indicators that rates may be in a turnaround process already, maybe it’s time, as investors, to take our bets off the table for a few weeks and, as borrowers, taking out whatever financing we need at rates that are so low they can hardly be considered more than a slight gamble, even if they do fall a bit further. August 25, 2010 KEY INDICATORS [8/17/10] Gold $1233.00/ounce [up] Crude Oil (Brent) $72.29/brl [down] U.S. Dollar to… Euro .7901 [up] Japanese Yen 84.28 [down] 6-mo Treasury Bill Yield 0.18% 10-yr Treasury Note Yield 2.50% [6-month unchanged, 10-yr down 15 bps] 11th Dist Cost of Funds 1.797%[+] 30-yr Fixed-rate Mortgage 4.80% 15-yr Fixed-rate Mortgage 4.28% 1-yr ARM 3.90% [HSH averages rates: 30-yr up 1 bp;15-yr up 2 bps; 1-yr ARM up 10 bps] Mortgage Bankers Association Mortgage Applications Index week ending 8/13 Overall 829.7 (up 13%; up 0.6% the week prior) Purchase Money Loans 169.4 (down 3.4%; up 0.3% the week prior) Refinancing Loans 4676.7 (up 17.1%; up 0.5% the week prior) Jobless Claims 8/14 500,000 – prior week 484,000 – continuing claims at 4.478 m Conference Board Index of Leading Indicators July Up 0.1% Existing-Home Sales July Down 27.2% month-to-month – 12.5 months’ worth of homes now on market |
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| Current rental vacancies in Phoenix area Listed by City By David
Available rentals are up a bit this month, I think thie is just the normal turnover in the summer and don't expect the vacancies to continue to increase. Our vacancies are way down, in fACT QW DON'T Have enough for rhe demand. Now would be an excellent time to add a property or two to your investments. If you have an interest in a city not listed here, let us know and we will list it here |
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| Hot Links |
| In-depth analsis, New Homes: The Five-Year Picture http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/NHHP-010-08.htm It's a buyers market http://www.ultimatenewhomes.com/unhems/2010/Aug10/010-8-3/BuyerMarketEvidence-010-8-3.htm Tours, Phoenix Area Residential rentals http://www.phoenixhomesbydavid.com/files/398060/phoenix.area.residential.rentals.html In-Depth Analysis, Market-at-a-Glance http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/IDA-market-at-a-glance-010-08.htm In-depth analsis, Time on the market http://www.ultimatenewhomes.com/In-Depth/2010/010-08gts/PriceProjections010-08.htm |
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