Mike Orr was quoted in the Arizona Republic as saying that he believes the housing market in the Phoenix area hit bottom in September of 2011. Mike Orr is the Director of the Center for Real Estate Theory and Practice for Arizona Statue University. We are seeing multiple offer situations for many properties priced...
East Valley
For Real Estate Investors
New Tax Rules for Landlords
If you own a rental property, even just one, you need to talk with your accountant about the new tax rules regarding reporting. These rules took effect on January 1, 2011 and affect landlords who hire someone to work on their property if they pay $600 or more in a calendar year. In these cases,...
Phoenix Area Housing Sales Increase in March
March sales of existing homes through the Arizona Regional Multiple Listing Service increased over last year by 18%. Some of this is attributable to the home buyer tax credit which requires a contract by the end of April. We have also seen a number of second home buyers from other states and Canada. Home...
Canada, Eh?
Are you wiring earnest money from Canada or anywhere outside the USA to open escrow on real estate? Add the international transfer fee and ask the bank if there’s any other fees to be added. For transfers from Canada, the fee we have seen is $10.00. Your banker may not tell you this and you’ll be...
Phoenix Housing Market – Recent Articles
The Phoenix housing market is starting to get a lot of media attention both in Phoenix and in other areas. Here are links to some recent articles that may be of interest to you. The AZ Republic is even reporting some price increases for homes in the area. Amid Housing Bust, Phoenix Begins a...