For Real Estate Investors

Full dorms at ASU mean. . .

08/08/2013
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An opportunity for investors to rent out their properties in downtown and along the light rail line. Downtown ASU dorm overbooked ASU has spread out their campus to several satellite campuses. One is downtown and it’s for journalism students and others.

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Steady Decrease in Homes for Sale Under $100,000 in Phoenix Area

10/11/2012
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There has been a steady decrease in the number of homes for sale in the $30,000 to $100,000 price range. This reflects what we have been seeing the market as prices rise - a dwindling supply of homes priced under $100,000. Home supply in the $100,000 to $250,000 price range has bounced around some but has remained at a more even level this year.

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Don’t Miss Your Opportunity to Buy a Home at Low Prices

09/12/2012
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It is no secret that average home prices in the Greater Phoenix area have been rising this year.    If you are some one who has been waiting to buy a home until the market hit bottom, you have missed it.    In this area, the bottom of market occurred in the summer of 2011.  However,  the opportunity exists to purchase now at relatively low prices before prices rise more.   The inventory of homes available for...

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Home Prices Going Up In Phoenix Area

04/02/2012
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As we have been reporting, the inventory of homes in a lot of the Phoenix metro area is about half what it was last year.   The inventory of  foreclosure homes for sale is about a quarter of what it was a year ago.  This has caused competition among buyers and home prices are starting to increase. Below is a link to an article in the Arizona Republic about the current real estate market. If...

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Housing Market Moving Forward

01/20/2012
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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 below $150,000.  The inventory of homes for sale is roughly half of what it was a year ago.  We think...

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Retiree Havens Offering Good Buys

12/08/2011
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Many people are recognizing that now is a good time to buy a retirement home.  Even thought the inventory of homes for sale in the Greater Phoenix area is about half of what it was a year ago, many condos and town homes are still available for less than $100,000.   With the decrease in inventory and the many properties that are receiving multiple offers, many experts are saying that they think this is the...

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Multiple Offers for Properties

04/18/2011
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We are starting to see multiple offers being made on properties in the Phoenix area.  This seems to be particularly true for properties priced under $100,000.    There are a lot of people purchasing second homes and a lot of investors buying properties.  Prices are low enough that buyers are coming back into the market.  In October there were roughly 39,000 properties available for sale in the Phoenix area.  Currently there are about 28,600 properties...

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New Tax Rules for Landlords

02/14/2011
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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, you will need to collect a social security number or EIN (Employer Identification Number) from the person or company doing...

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Phoenix Area Housing Sales Increase in March

04/29/2010
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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 prices are low right now and many articles I’ve read indicate that we may be at the bottom of the...

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Housing Prices Stabilizing in Phoenix Area

02/25/2010
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There have been several articles in the Arizona Republic lately regarding reports on the housing market.  It looks like we will hit the price bottom for houses sometime this spring and may have already hit it for foreclosures.  Here are a few quotes and some links to the articles. “Overall, the 20-city index (S&P/Case-Shiller 20-city home price index) climbed 0.3 percent between December and January.  Phoenix was one of only five cities to post...

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