estate - The North Valley Team of Phoenix Arizona

Arizona MLS (ARMLS) Subscriber Confidence Index for May of 2012

May 17, 2012 by inVIVO realty Arizona

Similar to the Consumer Confidence Index, the SCI mirrors ARMLS subscriber reaction to changing Arizona real estate market conditions and their experience with current Phoenix home buyers and Phoenix home sellers. This sentiment influences subscriber investment and strategy regarding their professional real estate activities. Please note that ARMLS subscribers are comprised of Arizona licensed real estate agents and brokers.

The ARMLS Subscriber Confidence Index charted over the past 13 months.

Similar to the Consumer Confidence Index published by the Conference Board, the relevance of the SCI lies in being the only economic indicator derived from the firsthand, up close observations of REALTORS® who operate at the front line of real estate in the Valley.

Following two months of point declines in 1.8 to 2.8 range, May’s Subscriber Confidence was buoyed in all three indices. The overall Subscriber Confidence Index rose 1.3% to 84.6, while the present confidence rose only .1% to 83% and the Expectation Index rose 2.2% to 85.8%. All three indices have remained above 80% since January, an indication of a higher level of confidence relative to Q3 and Q4 of 2011.

The ARMLS Subscriber Confidence Index percentages and bottom line.

The ARMLS® Subscriber Confidence Index™ (SCI) is derived from survey responses from a representative random sampling of ARMLS subscribers who have closed at least one transaction in the previous twelve months.

So what does this mean for Phoenix home buyers and sellers? Well, as Summer approaches, we are quickly coming into the busiest time of year for home closings in North Phoenix so we still need to keep a close eye on comparative homes sales over the past six months. We are clearly seeing a bit of a buying frenzy for homes priced at or below $250,000 and much of this home buying consists of all cash transactions. Contact us about Greater Phoenix homes for sale, or about listing your property in the Greater Phoenix Valley and we can discuss with you what is going on in the Phoenix Arizona real estate market.

The ARMLS Pending Price Index Market Prediction Newsletter for May 2012

May 9, 2012 by inVIVO realty Arizona

The ARMLS Pending Price Index™ (ARMLS PPI) predicts the direction of the Phoenix Arizona real estate market thirty days into the future based on pending sales in the Arizona flexmls listing system. The PPI Supplement focuses on new Phoenix Arizona pending properties added each month to the MLS system and includes analysis and $/SQ FT at various price points.

Click here to view the May 2012 issue of the ARMLS Pending Price Index™

Contact us if you are a Phoenix home buyer, seller, or investor, and you have questions or would like a breakdown of prices in different Greater Phoenix Valley cities.

Is This a Good Time to Buy Phoenix Real Estate

May 3, 2012 by inVIVO realty Arizona

Just like many other potential Phoenix home buyers, you may be wondering if now is a good time to buy Phoenix real estate.

If I could successfully speculate where the Phoenix real estate market was going to be in three years, I would be aggressively planning my retirement launch party. However, I can tell you what we are seeing as far as significant changes in home buying across the Greater Phoenix Valley.

Across the board, if a home is in a centrally located and highly desirable area, and the home is priced at or below current market, buyers and investors alike are moving quickly and homes are contracting at a much more rapid rate than they were even 12 months ago.

Buy Phoenix real estate or search phoenix homes for sale.

We have a residential rental market that has been moving as if there is a huge shortage of good rental property meant to house couples and small families. We are seeing strong cash buyers come in and purchase rental property up to the mid $300,000 range with long-term real estate rental contracts moving easily for as much as $2,000 per month.

So what does this mean? Well, if you are a Greater Phoenix home buyer and you are shopping for the standard three bedroom, two bath home under 2,000 square feet in size, and your price range is below $300,000, you may want to take a serious look at homes right now because those are the homes that are selling and with the large number of cash transactions coming into the Valley buying up that particular type of Phoenix real estate, there certainly seems to be a strong enough foundation to support current equity levels (within that lower price range).

Also remember that we are approaching the time of year where we experience the greatest number of closings. With school summer breaks quickly approaching, the number of buyers of Phoenix homes for sale should increase substantially over the next four months.

Contact us if you are contemplating a buy or sell of Phoenix real estate so we can get you the latest real estate closing data; you can see for yourself, how homes are moving in different areas and at different price levels across the Phoenix Valley.

Phoenix Arizona Based 360 Real Estate Team Launches Moon Valley Property Real Estate Website

May 2, 2012 by inVIVO realty Arizona

The Phoenix Arizona based 360 real estate team has just launched its Moon Valley real estate and property website, and can be accessed at www.MoonValleyHomesArizona.com.

With the North Phoenix Arizona area of Moon Valley being one of the Greater Phoenix real estate housing markets of focus for the 360 real estate team, Moon Valley real estate and property home buyers and sellers now have access to real estate information in the following communities and areas of Moon Valley North Phoenix: Coral Gables Estates, Coral Gables Estates West, Cresta Del Oro, Hillcrest, Hillcrest Six, Hillcrest Seven, Lunar Vista Estates, Mini Moon Estates, Moon Mountain Estates, Moon Mountain Vistas, Moon Valley Cluster Homes, Moon Valley Estates, Quail Hill, and Turtle Creek, as well as many other smaller Moon Valley subdivisions.

www.MoonValleyHomesArizona.com provides up to date blog posts about the Moon Valley community and city searches through the Arizona MLS, and real estate news and market reports at a local and National level.

If you are interested in Moon Valley North Phoenix Arizona real estate and home sales, feel free to contact us and we will be happy to assist you.

Can I do a Short Sale if I have a VA Loan?

April 18, 2012 by inVIVO realty Arizona

In Phoenix there seems to be alot of confusion for home owners with VA loans as to whether or not they can do a short sale. The answer is yes. I just recently assisted two homeowners, with VA loans, in the Greater Phoenix area, complete short sales. Those home owners have now avoided foreclosure and they should be able to buy a home again in two years if they rebuild their credit during those two years.

I believe part of the confusion lies in the VA guarantee; home owners think they have to pay that money back. In most cases the money does not have to be paid back; it is forgiven through the VA short sale process. However, a VA eligible borrower will not be able to use their VA eligibility to buy another home until any deficiency is paid back. But, there is nothing stopping that borrower from getting an FHA or conventional loan for the purchase of real estate after the two year period, providing the buyer has effectively rebuilt his or her credit.

A homeowner does need to prove a valid hardship, and a military transfer or deployment is a valid hardship if your home is worth less than what you owe on it and as a result, you cannot sell.

The best thing to do is simply give me a call and we will discuss your lending structure, hardship and home value, and then call your loan servicer to confirm required paperwork and eligibility for a short sale. You must ALWAYS be aware of ALL your options before committing to a strategy.

FOLLOW US

CONTACT