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January 2014

Found 30 blog entries for January 2014.

That Real Estate Show has Phoenix’s very latest real estate news to help you make the best possible decision when it comes to buying or selling a home Phoenix. 

That Real Estate Show is the show for you and your Realtor, and here’s what’s coming up for Saturday, February 1st.  Catch us at 3pm on 92.3 FM KTAR.

February is here! - Michael Orr from ASU looks back at the first month of real estate in 2014, and what to expect for Phoenix real estate in February.

Kim Harland Saves YOU Some Money! – That Real Estate Show’s money girl, Kim Harland wants to help those looking to buy a home in Phoenix save some money. 

Jobs in Phoenix – Haley Ringle from The Phoenix Business Journal has a look at jobs coming (and going) in the Valley.  It could affect

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Do Temperatures Affect Home Sales?

As you’ve heard us say many times on That Real Estate Show, when the temperatures in Phoenix start to cool down, Phoenix real estate starts to heat up.  But what about other parts of the country?  The answer may be found in the recent National Association of Realtors' Pending Home Sales Index.  According to NAR’s index, which is used to determine national consumer interest in buying a home via pending sales, consumer demand is at its lowest level since 2011.  The reason for the drop, per NAR, could be attributed to a series of cold temperatures throughout the majority of the U.S. this winter.  These massive cold fronts and storms have kept many prospective buyers literally indoors during a period when many (especially

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The list Phoenix used to be on

During the lows of the recession and the height of the distressed property derby, Phoenix real estate was a hotbed for foreclosure and short sale deals.  Today that market has shrunk significantly, as many other metropolitan have supplanted Phoenix as the prominent foreclosure city.  In fact, a recent USA Today article has identified those cities that are still seeing a steady number of distressed property sales.

Here are the rankings:

10. Sacramento area

Distressed sales: 25.4%

9. Chicago area

Distressed sales: 26.9%

8.  Cleveland area

Distressed sales: 28.6%

7.  Riverside, California

Distressed sales: 28.8%

6.  Memphis area


Distressed sales: 29.5%

5.  Miami area

Distressed

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Best Year for Sales since 06’

A recent report from the National Association of Realtors reveals an incredible turnaround in 2013 for the national real estate market.  According to NAR, more than 5 million home sold in United States last year, a 9% annual jump and a 20% increase since 2011. 

 

NAR also identified an 11% jump in the median home price from 2012, and expectations remain high for an increase in prices through the beginning of 2014.  Perhaps even more interesting than the spike in sales, is the drop in distressed home transactions.  In 2012 nearly 25% of all previously owned home sales were foreclosures or short sales.  In 2013 that number dropped to 14%!

We’ll keep an eye on the national real estate trends, as well as the Valley’s

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I Love to reminisce when it comes to the Phoenix housing market. 

That’s because things are so much better from the days of the bubble bursting in the Phoenix area real estate market.

Let’s take a look at the last three Januarys in the Valley and let’s just see how better things have gotten.

The number of homes for sale in the Phoenix area has increased immensely this January.

Just take a look.

Also a great piece of information is just how much lower the amount of distressed sales have gone down in the last three years.

Distressed sales are homes that have foreclosed or are involved in a short sale.  For example, in 2012, 15% of the active listings were short sales, whereas today we're down to 5%. Isn't that fantastic.  Bank owned sales

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It's a great weekend for foodies!

That Real Estate Show’s Community Events Director, Danielle Williams has a great suggestion for those looking for a fun day out with great food!  Each week she has her picks for couples, singles and families on great events to go to in the Phoenix area.  She also has a volunteer opportunity to take part in as well.


 

Diva Danielle's picks of the week.

for families....

Street Eats Festival at Salt River Fields. Over 50 food trucks.  $12 to get in and kids 12 and under are free.  January 25th and 26th, 2014 From 11am to 6pm. streeteatsaz.com

for couples...

My Wine Cellar - hosting Odell Brewery Bistro.  Have a dinner with beer tasting.  $39 per person.  January 30, 2014 at 6:30pm.  480-598-9463 or

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Phoenix is officially buyer friendly! 

That Real Estate Show has the latest Phoenix real estate news.  Here’s what you missed:

Buyers’ Market in Phoenix - Michael Orr from ASU has the latest on Phoenix’s buyer’s market, and the lone holdout Valley city that still favors sellers.

Good News for Homeowners –Kim Harland from Nova Home Loans talked about an amazing program for those looking to get back into a home after a recent foreclosure or short sale. 

Jobs Report – The Phoenix Business Journal’s Kristena Hansen has news that could affect the value of your home.

Attention Food Lovers –That Real Estate Show’s Community Events Director, Diva Danielle, has a great event for those who love food and a variety of choices.

Tina Tamboer – The

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Get the latest Phoenix real estate news on That Real Estate Show, heard every Saturday at 3pm on News/Talk 92.3 KTAR

Here’s what’s coming up on That Real Estate Show for Saturday, January 25th, 2014

Phoenix Real Estate Update - Michael Orr from ASU has That Market Report, including the latest on Phoenix’s strange market conditions.    

Kim Harland – Your Money Girl, Kim Harland from Nova Home Loans has some great programs who those who are looking to get back into the market after foreclsoure or short sale and buy a home in Phoenix.  Get in a home one day after foreclosing or short selling your home!

Phoenix Jobs – The Phoenix Business Journal’s Kristena Hansen has the latest on the job situation in the Valley.

January Events and Volunteer

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It Seems The Distressed Property Market Isn't Done Yet...

While the mixed bag of news in Phoenix real estate continues to sort itself out, there’s some good news on the national front.  According to real estate market researcher Realty Trac, U.S. residential home sales were up 10% year to year.  But that’s not the only good news…  RealtyTrac also reports that the median home sales price is up slightly this year.  In December the national median home sales price was $168,391, up 2% from December of 2012. 

RealtyTrac also had some interesting findings in regards to the distressed property market, as short sales and foreclosures accounted for 16% of all sales in 2013, a higher percentage than in 2012!

They also estimate more than a million homes

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Two Key Observations From The Cromford Report:

 

The flipside of a real estate market that favors buyers is that those who are looking to sell a home in Phoenix may have to wait a bit longer, and more importantly, expect stronger competition.  The latter trend has been on display during the first month of January according to Phoenix real estate website, The Cromford Report.  The Cromford Report identifies two important statistics in regards to the current buyers’ market situation:

#1 – Active home listings in Phoenix are up 9.1% since the beginning of the year

#2 – Monthly home sales are down 21.3% since the beginning of the year.

So, it seems that supply is up, and demand is way down, something that ASU’s Michael Orr has been talking

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