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April 2014

Found 27 blog entries for April 2014.

Balanced and Calm.

Two words you don't really expect to hear in the same sentence as the Phoenix real estate market.  We've heard "bi-polar" thrown around more the last few years.

But those are two words the head of ASU's Real Estate Center is using to describe the Valley's housing market.

Buying or selling a home in the metro Phoenix area involves knowing what's going on in the market.

That Real Estate Show talks to Michael Orr about the latest.

Michael Orr says It's amazing how different the market is from two years ago, even one year ago.  Prices haven't moved that much since July of 2013. We're still in a buyer's market but it's not getting any better for the buyer.  Orr says we're moving to neutrality at the moment.  He says there's a

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There's a lot of competition out there in the metro Phoenix area if you are trying to sell your home.

getting your home ready to sell

 

Just a year ago, you could put your home on the market without making your bed and it would sell in a couple of days.

This year....completely different story.

Sellers have more competition and buyers arent' as plentiful.

If you're selling your home, here are a few tips.

1. Make it easy to show.

Realtors and real estate agents make last minute appointments, make your home available.  They won't come back a different day.  Pick up the dogs and the kids and put the dinner you were making away. 

2. Don't stay while it's being shown

The buyers or buyer's agent may insist that you can stay and that they don't want to bother you. 

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We don't just help you buy or sell a home in the metro Phoenix area, we help you become part of the community too.  Diva Danielle, That Real Estate Show's Community Events Director has her picks of this week of where to go for couples, singles and families.

 

 

COUPLES - Scottsdale Promenade - Every Friday night there's free music from bands to solo acts.

FAMILIES - Salsa and Pinata Festival for Cinco de Mayo 645 N. Plaza Drive, Apache Junction, AZ.   May 5, 2014

SINGLES - Tim McGraw - AK Chin Pavillion, May 16th 7pm.  Tickets on sale.

VOLUNTEER OPPORTUNITY -Danielle has a unique request.  A Valley family has a son who suffers from terrible seizures.  UCaring.com  and type in "fight for Connor" in the search tab. This family needs

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Join Diane Brennan for That Real Estate Show today, Saturday, April 26, 2014.

Michael Orr, Director of the Real Estate Center at W.P. Carey School of Business at ASU joins us to talk about the latest in the Phoenix real estate market.  Whether you're buying a home in the metro Phoenix area or thinking about selling, it's always great to keep up on the market trends.

Kim Harland, Your Money Girl, with Nova Home Loans joins us to talk about the new FHA lending program that allows you to have a lower credit score and get a home loan.  Also she recpas the Maricopa County Home in 5 Advantage Program and Nova's Free Credit Services Department.

The Business Journal - Kristena Hansen with the Phoenix Business Jounral tells us about who's hiring and the

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It's not good news for the Phoenix real estate market.

It's the first time we've seen the median sales price in the metro Phoenix area go down in both n January and Feburary of 2014.  It's the first time we've had tw o months in a row decrease since 2011.

But Michael Orr with ASU says people don't need to panic.

 

"I don't expect it to go down again.  When the report comes out in the Spring, I'm expecting it to go up a bit."

Orr says there's always a tendency for pricing to go in the Spring.  The higher up you go in the mak

If you look at the drop in sales volume, it's almost all accounted for in the price range below $250,000.

Sales have done down significantly below $200,000 range since March of last year.

Orr says the rest of

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Phoenix's downtown core has come a long way. 

We've seen downtown be reinvigorated with the creation of light rail, new restaurants and shopping.

But it needs to continue or lose our newest generation.

The Millennial Generation.

downtown phoenix homes for sale

 

The Millenial Generation are people born between 1980 and 1995.

Considered the best educated generation and fiscally responsible.

Most are paying off student loans and not buying homes.

Why the importance of keeping them here?

Why not let them go to cities like New York, San Francisco, Seattle and Portland?

Because they bring big dollars to the communities they live in.

Gone are the days of living in the suburbs like Gen Xers and Baby Boomers liked to do.

The Millennials want urban living.

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New Home Sales in the metro Phoenix Arizona area?

Meh.  Not so hot.

new home sales in metro phoenix arizona

 

Michael Orr, Director of the Real Estate Center at W.P. Carey School of Business at Arizona State University and Creator of the Cromford Report, says "they've been disappointing."

New Home sales closed have been lackluster in January and February of 2014.  Orr says "December was reasonable but not after that."

"It's down 23-27% % from last year which is not what people are expecting, "says Orr.

"it's got a lot of catching up to do at the moment."

Why?

Orr says "there's a whole combination of factors.  It's not a shortage of people coming for work, but a lot are just looking and not signing a contract."

But he says when they are ready to sign, they're not

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Where are our first time home buyers going in the Phoenix Arizona area?  This time of year we have a chunk of our sales going to first time home buyers.  Where are they?

They're not buying homes.

 

MILLENNIAL GENERATION AFFECTING HOME BUYING IN PHOENIX

 

First time home buyers should be the Millennial Generation.

Don't compare them to Baby Boomers or Gen Xers.

These Millennials are a different breed of cat.

They're a lot of trends that Millenials have that go against the previous generation's trends.

Michael Orr, Director of the Real Estate Center at the W.P. Carey School of Business at Arizona State University told That Real Estate Show that millennials aren't buying homes to the extendt that past first generation did.  Orr says "they are tending to get married later, have children

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We don't just help you sell or buy a house here at That Real Estate Show, we help you become part of the community too.

Diva Danille, TRES' Community Events Director has this week's picks on where to go.

 

 

COUPLES- Sanctuay Day Spa Event - Every Monday night at the Jade Bar at the Montelucia. Sip and Slide event.  Beef sliders for only $2.

FAMILIES - AMERICAN POP COMIC SCI FI ADVENTURE EXHIBIT - Tempe Center for the Arts - It's free!  If you're kids love comics and adventure.

SINGLES - FITNESS AT THE FLOUR MILL - right at the corner of Mill and Rio Salado.  Free classes Monday through Friday.  Bootcamp, Yoga, Zumba, Pilates and Hula hoop class.  Starts at 5:30.  Donations are welcome.

VOLUNTEER OPPORTUNITY -Tons of Valley

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 Find out the latest real estate news in the Phoenix, Arizona area.  If you missed this Saturday's show for April 19, 2014, here's the podcast.

that real estate show

That Real Estate Show for Saturday, April 19, 2014

THAT MARKET REPORT - ASU's Michael Orr gives us That Market Report and talks about the lastest trends in real estate in the Valley and how this year compares to years' past.

YOUR MONEY GIRL -  Kim Harland with Nova Home Loans talks about the new fico score for FHA loans.  It's now 580.

PHOENIX BUSINESS JOURNAL - The Phoenix Business Journal joins us to talk about Valley companies that are hiring and other opportunities for Valley residents.  Find out if there are any new companies moving to the Valley.

WHERE TO GO? - TRES Community Events

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