From the Trenches

REOs Rule, But Not Everywhere

Foreclosures

Image courtesy of Stock Exchange user svilen001 Just a little blurb from one of our favorite title/escrow officers, Maggie Clark of Equity Title. This gives a good picture of just how much the REO (“real estate owned”, i.e. bank owned foreclosure) properties are driving the market lately. Southwest Valley – REO active listings represent 16% [...]

21 September 2009 Read the full article →

Wrong On So Many Levels

First Time Buyers

Another example of REO lunacy, about which I’ve written before. Our first time home buyer is being required to sign a document containing the following clauses. She must sign before the bank that owns the house will even look at her offer, which is one among many offers they received. These are the most heinous [...]

17 September 2009 Read the full article →

Photos Make a Huge Difference Too

See Arizona

I’m piling on to Chris’ post yesterday about how staging can determine whether buyers make offers or make tracks. Pictures make a huge difference too. Buyers love LOTS of pictures. Quantity doesn’t substitute for quality however. A word about the condo Chris wrote about yesterday, with the fabulous view. We both agreed it was one [...]

16 September 2009 Read the full article →

Buy Goo-Be-Gone, For Gosh Sakes

Foreclosures

Photoblogging, of sorts. Snapped these while showing a bank-owned home in West Phoenix yesterday. You see light fixtures like this one in just about every home built in the 1990’s in metro Phoenix. I even joke with my clients that the builders must have all got a jaw dropping bargain on these ugly buggers. “They [...]

14 September 2009 Read the full article →

Why isn’t this property in my search?

Buyer Help

If you’ve been looking around at homes to buy, and you’ve talked with us, odds are we’ve built you a personalized MLS web portal, giving you customized access to all the homes listed for sale in the MLS which meet your exact search criteria. Your web portal shows you ALL the homes which meet your [...]

27 August 2009 Read the full article →

Bidding Wars!

Market Analysis & Stats

Think it’s a buyer’s market out there?  Think again.  (at least in the lower price ranges.)  Here are two real-life examples we’ve come across in the last couple of weeks. Buyer’s Perspective – we found this one while out with a first-time homebuyer client. Late July, in Surprise.  We had been looking at homes in [...]

11 August 2009 Read the full article →

More REO Fun

Foreclosures

Dealing with REO purchases is just. So. Much. Fun! Two weeks ago my buyer clients and I received a bank’s verbal acceptance of our offer on their house for sale.  The parties verbally agreed to close August 3. Last week the bank sends back signed docs. Closing date is now August 18. First we heard [...]

18 July 2009 Read the full article →

Too good to be true Phoenix MLS prices

Buyer Help

Actually, the MLS isn’t wrong. It’s correct, technically. But it’s also deceiving. And the MLS data that’s viewable on public websites via a data feed is even more deceiving. Take this ad for example. Yesterday, a buyer asked us to show him this home which he’d found online. (for all pics in this post, click [...]

9 May 2009 Read the full article →

Response to How Not to Buy a House

Buyer Help

How to Buy A House, For Real A Companion Piece to yesterday’s How Not To Buy A House   Step 1. Use a local Realtor’s website to do your property searching. You won’t be distracted by listings in other cities, states or even other countries. Plus you’ll get real-time data updates. No more looking at [...]

7 May 2009 Read the full article →

How Not To Buy a House

Buyer Help

How Not To Buy A House (Or, A Tongue In Cheek Look at Common Buyer Mistakes) Step 1. Look at homes online for several weeks. Any real estate website will do and national websites are great because they’ve got listings from all over the country to distract you. Step 2. Choose a handful of homes [...]

6 May 2009 Read the full article →

Wall Street Journal Quotes The Phoenix Agents

Buyer Help

To readers who found us via Realtor Heather Barr’s quote in today’s Wall Street Journal article “Bargain Hunters Descend, Cash in Hand”, welcome! We’re glad you’re here and hope you enjoy our blog content. Long-time readers who aren’t Wall Street Journal subscribers might have missed our mention.  The story is behind the WSJ’s subscription firewall [...]

25 February 2009 Read the full article →