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Buy Phoenix foreclosures 30% below market!

In The News

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Riffing off what Chris posted yesterday… In Phoenix, the winter tourist season is here. Every year this means a new wave of newbie real estate investors who are convinced that you can buy investment property in metro Phoenix for 20% or 30% below market value. Here’s the real deal… I’ve been helping investors in the [...]

21 February 2011 Read the full article →

Charting 2010

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The Calculated Risk Blog published a post using a number of charts to show & tell the economy’s story of 2010. Keeping in mind these are from a national view, and that Arizona’s numbers will be different, I still thought a few of them were worth sharing, especially since they tell a story of being [...]

26 January 2011 Read the full article →

Bank of America posts earnings loss

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Bank of America just posted a big loss. Bank of America, among many other things the #2 residential mortgage lender and #1 servicer, reported a second straight quarterly loss, driven by write-downs in the value of its mortgage business. The bank lost $1.57 billion, or 16 cents a share, compared with a loss of $5.2 [...]

23 January 2011 Read the full article →

Phoenix city services affected by MLK Day

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Local blogger and social media whiz Yuri Artibase writes about how the Phoenix city services will be affected by the Martin Luther King holiday today. Basically, buses are running a Sunday schedule, libraries are closed and downtown parking is largely free. Heather Barr is a Realtor and a happy workaholic. She eats more than someone [...]

17 January 2011 Read the full article →

Mortgage fraudster found guilty (and rich)

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From one of the more entertaining feeds in my Google Reader, CreditBloggers: A lawyer who helped a gang of mortgage scammers steal $23 million from banks pleaded guilty to seven felonies on Wednesday as part of the federal government’s larger crackdown on loan fraud. [He] faces a maximum of 210 years in prison for his [...]

13 January 2011 Read the full article →

44 Monroe converts to apartments

Central Phoenix

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In a nod to the general bad economy and the extra-bad resale condo market in Metro Phoenix, the hi-rise known as 44 Monroe in downtown Phoenix will convert from condos to apartments. Why? Many, many reasons. The economy continues to be sluggish. Condo financing has all but dried up. The condo rental market has been [...]

5 January 2011 Read the full article →

Snow in Phoenix

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Although it’s rare, sometimes we Phoenicians have to protect our desert plants from freezing temperatures. Our Tucson branch manager, The HouseChick, a.k.a. Kelley Koehler wrote about prepping your cactus for the few freezing nights. Click on over to see  cups on cactus and the new trend, bags on cactus. Thinking of visiting the Phoenix-Scottsdale area [...]

30 December 2010 Read the full article →

US home prices hit new lows. Not Phoenix.

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The mainstream media are at it again. Chris and I have written about mainstream media and their panicky screamy headlines more times than I can count. Today the media are at it again. The Washington Post ran a screaming headline this morning: “U.S. Home Prices Drop 1.3% from September to October”. They were almost gleeful [...]

28 December 2010 Read the full article →

Fannie Mae: 2010 sucked, 2011 better

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Per Fannie Mae, the fourth quarter of 2010 will not wind up being a memorable time for housing sales. Fannie projects that existing home sales will increase slightly, but that new home sales will drop significantly. Fannie’s number crunchers say we should expect 2010 housing sales to be down 7% from last year, and with [...]

23 December 2010 Read the full article →

Local builder posts 4th quarter loss

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Local home builder K. Hovnanian reported its 4th quarter income, which showed a smaller loss than 1 year ago, but came in lower than analysts expected. “K. Hov” is still building homes across the Valley. In the far West Valley K.Hov homes in the community of Verrado start at $149,900. They’re building substantially the same [...]

22 December 2010 Read the full article →

67% of Phoenix-area sales are distressed

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Pulled some stats out of the Arizona Regional MLS database this morning, for a client who’s home shopping and wondering whether or not to bother looking at short sale homes. According to MLS data as of today, December 17, 2010, 67% of all Metro Phoenix area homes sold in 2010 were in some state of [...]

17 December 2010 Read the full article →

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