David Seiders, the home builders chief economist, says "I think the best bet is that 2008 is the year we will be looking at the bottom for various components of the housing market."
"We are in a down time, and many markets that overheated during 2003-2005 such as Las Vegas, Phoenix and Miami are undergoing a natural correction," said Jerry Howard, chief executive of the National Association of Home Builders. The Home Builders Association is saying with some help from Congress and the Federal Reserve the nation's housing market could rebound by mid-2008.
Howard says "All housing is local, and the reason we think that the market will stabilize and come back is because many smaller markets that did not experience overheating are still performing at a relatively healthy level. If you balance those markets against those that are undergoing major corrections, we see a solid recovery down the road."
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Friday, December 28, 2007
Tuesday, December 11, 2007
Interest Rates LOWEST in 2 years!! Let's have a small party all together now... YEAH!! See full story
Here is a link I thought it might be good to share with everyone... it is from a local title company, they email agents a weekly update of properties going into foreclosure. Why would I share this with you? Good question, I want each of you to be highly aware of what the market is currently doing... If you click on this link Foreclosure List you can thumb thru 239 pages of homes that now have dates set for foreclosure. This is just this WEEK's list... and there are 4 homes on each page. (if you are reading this after the week of Dec 11th- the link above automatically updates weekly)
Here's what I really want to share and felt it important to email on... I have a buyer I have been working with for about 6 weeks now to locate a home under 140K in Queen Creek, he needs his closing costs & down payment covered for him; which means short sales (the last step before foreclosure) are out because banks wont cover that, AND bank owned already foreclsoed properties will consider it; so we planned to go look at homes that were still owned by families.
I pulled up research and found 150 homes that were under 140K in Queen Creek, only 6 had anyone living in them that were for sale by an owner occupying the property!! Most were short sales which won't cover his costs, etc and the rest were bank owned... Until looking at this list on today's link I felt Gilbert was still well insulated against being hit as hard...
If you open the link Gilbert properties begin on page 34 and end on page 47; 15 pages x 4 houses on each = 60 have been scheduled a foreclosure date this week alone! I am seeing many more short sales/foreclosures in Gilbert- several within Morrison Ranch where I live.
Here is the most recent graph showing the number of homes on the market vs. how many sell each month, Market Stats we are still holding at only 5% of the homes on market selling each month.
The key to this market is being sure you are priced properly so buyers see your home as well as want to buy it because it is the best they saw in condition, features or price. We have SOLD 4 homes in the last 45 days, things are moving... feel free to call me with any questions or concerns.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Here is a link I thought it might be good to share with everyone... it is from a local title company, they email agents a weekly update of properties going into foreclosure. Why would I share this with you? Good question, I want each of you to be highly aware of what the market is currently doing... If you click on this link Foreclosure List you can thumb thru 239 pages of homes that now have dates set for foreclosure. This is just this WEEK's list... and there are 4 homes on each page. (if you are reading this after the week of Dec 11th- the link above automatically updates weekly)
Here's what I really want to share and felt it important to email on... I have a buyer I have been working with for about 6 weeks now to locate a home under 140K in Queen Creek, he needs his closing costs & down payment covered for him; which means short sales (the last step before foreclosure) are out because banks wont cover that, AND bank owned already foreclsoed properties will consider it; so we planned to go look at homes that were still owned by families.
I pulled up research and found 150 homes that were under 140K in Queen Creek, only 6 had anyone living in them that were for sale by an owner occupying the property!! Most were short sales which won't cover his costs, etc and the rest were bank owned... Until looking at this list on today's link I felt Gilbert was still well insulated against being hit as hard...
If you open the link Gilbert properties begin on page 34 and end on page 47; 15 pages x 4 houses on each = 60 have been scheduled a foreclosure date this week alone! I am seeing many more short sales/foreclosures in Gilbert- several within Morrison Ranch where I live.
Here is the most recent graph showing the number of homes on the market vs. how many sell each month, Market Stats we are still holding at only 5% of the homes on market selling each month.
The key to this market is being sure you are priced properly so buyers see your home as well as want to buy it because it is the best they saw in condition, features or price. We have SOLD 4 homes in the last 45 days, things are moving... feel free to call me with any questions or concerns.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Monday, December 03, 2007
We MOVED Santa!!
(how many Real Estate Teams can say that?)
Santa brought us SNOW!! Here's a photo of the kids that enjoyed snow which was delivered for the Breakfast with Santa event we host to thank all of our loyal clients!
All the kids had a great time, and so did the adults! We want to thank all of our fantastic sponsors and invite all of you to view ALL of the pictures from the party. Simply click the link above and then enter REMAX (all caps) in the password field. You can order prints as well! Event this year was held at Re/Max Power 91 N. Val Vista Dr. #102 NE corner of Val Vista & Elliot
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
All the kids had a great time, and so did the adults! We want to thank all of our fantastic sponsors and invite all of you to view ALL of the pictures from the party. Simply click the link above and then enter REMAX (all caps) in the password field. You can order prints as well! Event this year was held at Re/Max Power 91 N. Val Vista Dr. #102 NE corner of Val Vista & Elliot
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Saturday, November 17, 2007
I feel the need to explain the lack of posting; the last few weeks have been spent with clients who have successfully closed, as well as planning the 4th Annual Morrison Ranch Pecan Festival (a neighborhood event) on top of that I also spent 3 days away from the office this week learning how to best help my clients in this market, as well as mentoring other agents to do the same; while at the Phoenix Turning Point I heard alot of the same statistics that I posted earlier this year and I felt it would be worthwhile to repost them as they are SO pertinent to anyone considering a move.
From Sept 30th posting:
There are currently over 1.6 million Realtors licensed nationally that belong to NAR (National Association of Realtors); almost 700,000 have yet to sell a home this year!
2/3 of all licensed Realtors have been in business 5 years or less
These stats should help any seller decide that no matter who they choose to hire, they need to be very diligent when deciding to sell their homes; get a referral & ask hard questions, how many houses have they SOLD since the market became normal? That's right I said normal...
How long have they been licensed? are they a FULL-TIME agent? do they operate like a business with high standards in place?
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
From Sept 30th posting:
There are currently over 1.6 million Realtors licensed nationally that belong to NAR (National Association of Realtors); almost 700,000 have yet to sell a home this year!
2/3 of all licensed Realtors have been in business 5 years or less
These stats should help any seller decide that no matter who they choose to hire, they need to be very diligent when deciding to sell their homes; get a referral & ask hard questions, how many houses have they SOLD since the market became normal? That's right I said normal...
How long have they been licensed? are they a FULL-TIME agent? do they operate like a business with high standards in place?
Ashtonishing statistics that I feel my business is in line with:
- Re/Max agents have the most repeat & referral business, mine is currently 78%
- We make up 7% of NAR, but account for 16-18% of the sales and collect 20% of the commissions, why does that matter to you? Ask yourself this would you really want to list your home for sale with the other 93% of the Realtors currently licensed who hold smaller pieces of the market share?
- 52% of all TV real estate ads are Re/Max
- Re/Max has the #1 home search site built by a real estate brokerage/corporation, traveled by consumers, bringing leads to the agents' sellers; Realtor.com is the highest traveled but was built originally to capture leads which are 'sold back' to the listing agents.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Wednesday, October 31, 2007
Fed Rate Cut will it Affect Interest Rate?
I can tell you several weeks ago, interest on my listings did pick up when the Fed announced it's first rate cut in months, I also had buyers start looking at homes. Since then several of my listings have gone under contract and are preparing to successfully close escrow!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
I can tell you several weeks ago, interest on my listings did pick up when the Fed announced it's first rate cut in months, I also had buyers start looking at homes. Since then several of my listings have gone under contract and are preparing to successfully close escrow!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Monday, October 15, 2007
The Top Ten Reasons It's a Great Time to Buy Real Estate
I had this article pop up in my email today- it was so well written I had to pass it along, it was written by another local realtor, Paul Pastore.
1. Selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
2. No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.
4. Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
5. Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.
6. There are plenty of specs. In the not too distant past buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.
7. Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
8. Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.
9. Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Maricopa and Queen Creek in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines, and relatives.
10. Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!
See the source of this article
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
I had this article pop up in my email today- it was so well written I had to pass it along, it was written by another local realtor, Paul Pastore.
1. Selection, selection, selection. There are about 57,000 resale homes on the market in Maricopa county(Phoenix). Regardless of the price range a buyer desires, there are plenty of houses from which to choose. Just a few years ago the resale inventory dropped below 5,000 units. A buyer was forced to make compromises if they were going to locate the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market.
2. No Bidding Wars. In 2005 we had one client that made an offer on ten homes. They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the properties up substantially from the original listing price. There were escalation clauses where buyers authorized their agents to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
3. You can make an offer. A few years ago when you made an offer, the only question was how high above the list price could the buyer reach in hopes of being the best offer on the table. Today the sell price list vs. price ration is about 96%. A seller will not be insulted if you 'make them an offer they can't refuse'.
4. Patience is tolerated. In the hot seller's market that existed everything was rushed. Find a house before other buyers did. Hurry up and make the offer. Today a buyer can take their time. Look at several homes and think about your decision for a few hours.
5. Due diligence is welcomed. In this market a buyer is encouraged to obtain a home inspection, termite inspection, and appraisal. In 2005 many buyers waived these contingencies in order gain an advantage with multiple offers.
6. There are plenty of specs. In the not too distant past buyer had to 'play games' if they wanted a new home. There were lotteries and waiting lists in order to obtain new construction. Some buyers slept in their cars in order to get to the head of the lines. R.L. Brown estimates that builders have thousands of specs ready for immediate occupancy.
7. Repair requests are welcomed. After a buyer completes a home inspection, they are allowed to submit a repair request to the seller. In the past a seller might insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a primary buyer to upset the seller whose home was increasing in value almost daily.
8. Few, if any investors. It is estimated that one third of all sales in 2005 were to investors. These non-owner occupied buyer caused the market to inflate and affordability to decline. Mortgage fraud became commonplace. It's a great time to buy without having to compete with hundreds of prospective landlords.
9. Location, location, location. Today's buyers can find homes closer to work. In the past buyers flocked to Maricopa and Queen Creek in order to find affordable homes. In this market, reasonably priced homes are within biking or walking distance to schools, rapid transit lines, and relatives.
10. Real Financing is available. The 'wink, wink' zero down, no doc, adjustable, sub-prime loans are gone. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are back in business. It's a great time to buy real estate!
See the source of this article
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Wednesday, October 10, 2007
State Fair is Opening Soon! Get Read & Ride Form here...
Nancy Hurst who is a member of "Your Advisory Team" made me aware of this and we decided to send it on to all of our clients, so I thought it would be nice to share it here as well!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Nancy Hurst who is a member of "Your Advisory Team" made me aware of this and we decided to send it on to all of our clients, so I thought it would be nice to share it here as well!
If you get a chance to visit the fair this year, have a blast & be safe!
http://www.azstatefair.com/Common/Files/RedemptionRules.pdf
http://www.azstatefair.com/Common/Files/READ2007.pdf
More Fair Info:
http://www.azstatefair.com/customer-service/tickets.aspx
http://www.azstatefair.com/state-fair/rides.aspx
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Monday, October 08, 2007
Steady new-home sales a good sign for market
Oct. 5, 2007 06:56 PM
Resales across metropolitan Phoenix were down again in August, but new-home sales held steady. It could be a sign that the thousands of speculatively built homes across the Valley are selling while builders are pulling back on putting up more new ones. Both moves will help the resale market because fewer listings mean less supply.The Phoenix Housing Market Letter tracked 3,110 new-home closings in August. It was the fifth straight month the figure didn't lose any ground.
New-home prices have dropped since last year, which also is helping sales. The typical new Valley home price shot up to $285,000 during the frenzy of 2005, but this year slipped back to the $255,000 range. But the report's publisher, housing analyst RL Brown, said based on home-price increases during normal years like 2002 and 2003, the median price of a new home likely should be even lower, in the $220,000 range now.
Another good sign for metro Phoenix's housing market is that listings seem to be flattening. According to the weekly tally of David Blank of the Freedom Team at National Realty Brokers, the number of homes for sale in the Valley stabilized at just under 57,000. Part of that was due to the expiration of some listings at the end of the month, so next week will be telling.The uptick in new-home closings and leveling off of listings hasn't helped the Valley's resale market yet. Early counts by real-estate agents show existing-home sales fell again last month. And Brown is still giving the housing market a "code red" rating, but he can see it turning the corner in early 2008.
Read the entire article http://www.azcentral.com/business/columns/articles/1005biz-catherine1007-ON.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Oct. 5, 2007 06:56 PM
Resales across metropolitan Phoenix were down again in August, but new-home sales held steady. It could be a sign that the thousands of speculatively built homes across the Valley are selling while builders are pulling back on putting up more new ones. Both moves will help the resale market because fewer listings mean less supply.The Phoenix Housing Market Letter tracked 3,110 new-home closings in August. It was the fifth straight month the figure didn't lose any ground.
New-home prices have dropped since last year, which also is helping sales. The typical new Valley home price shot up to $285,000 during the frenzy of 2005, but this year slipped back to the $255,000 range. But the report's publisher, housing analyst RL Brown, said based on home-price increases during normal years like 2002 and 2003, the median price of a new home likely should be even lower, in the $220,000 range now.
Another good sign for metro Phoenix's housing market is that listings seem to be flattening. According to the weekly tally of David Blank of the Freedom Team at National Realty Brokers, the number of homes for sale in the Valley stabilized at just under 57,000. Part of that was due to the expiration of some listings at the end of the month, so next week will be telling.The uptick in new-home closings and leveling off of listings hasn't helped the Valley's resale market yet. Early counts by real-estate agents show existing-home sales fell again last month. And Brown is still giving the housing market a "code red" rating, but he can see it turning the corner in early 2008.
Read the entire article http://www.azcentral.com/business/columns/articles/1005biz-catherine1007-ON.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Thursday, October 04, 2007
Interest Rates Move Down!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Tuesday, October 02, 2007
I received an email today from a local lender that said HUD has put a stop to down payment assistance programs, after reading it and asking my preferred lender her input on the matter I have located this information to share;
http://www.ameridream.org/Documents/HUDRule/HUD-Rule-FR-5087-F-02-Final.pdf
A Popular Down Payment Assistance Program's Response to the new HUD rule;
http://www.ameridream.org/About/PressReleases/2007/HUDRuleLawSuit
I will be asking Judi to send me a synopsis in her own words on these issues and how they pertain to today's home buyers!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
http://www.ameridream.org/Documents/HUDRule/HUD-Rule-FR-5087-F-02-Final.pdf
A Popular Down Payment Assistance Program's Response to the new HUD rule;
http://www.ameridream.org/About/PressReleases/2007/HUDRuleLawSuit
I will be asking Judi to send me a synopsis in her own words on these issues and how they pertain to today's home buyers!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Sunday, September 30, 2007
Well, it's been a week since I promised some statistics I learned while at Re/Max Team Leadership Summit; Needless to say I've been busy.. what needs to be shared is I have been busy helping buyers locate the home of their dreams, and traffic has picked up on most of my listings!
If you are considering selling your home there are many opportunities in the marketplace when it comes to choosing an agent to help you facilitate the sale of your home, here are some key questions you need to ask yourself before moving forward:
Do you really need to sell right now?
Are you willing to be realistic about pricing according to the market?
Have you educated yourself on the current market conditions?
Do you know an agent you would hire, or can you ask someone you know for a referral? If not you need to know the following information...
These stats should help any seller decide that no matter who they choose to hire, they need to be very diligent when deciding to sell their homes; get a referral & ask hard questions, how many houses have they SOLD since the market became normal? That's right I said normal...
How long have they been licensed? are they a FULL-TIME agent? do they operate like a business with high standards in place?
Ashtonishing statistics that I feel my business is in line with:
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
If you are considering selling your home there are many opportunities in the marketplace when it comes to choosing an agent to help you facilitate the sale of your home, here are some key questions you need to ask yourself before moving forward:
Do you really need to sell right now?
Are you willing to be realistic about pricing according to the market?
Have you educated yourself on the current market conditions?
Do you know an agent you would hire, or can you ask someone you know for a referral? If not you need to know the following information...
- There are currently over 1.6 million Realtors licensed nationally that belong to NAR (National Association of Realtors); almost 700,000 have yet to sell a home this year!
- 2/3 of all licensed Realtors have been in business 5 years or less
These stats should help any seller decide that no matter who they choose to hire, they need to be very diligent when deciding to sell their homes; get a referral & ask hard questions, how many houses have they SOLD since the market became normal? That's right I said normal...
How long have they been licensed? are they a FULL-TIME agent? do they operate like a business with high standards in place?
Ashtonishing statistics that I feel my business is in line with:
- Re/Max agents have the most repeat & referral business, mine is currently 78%
- We make up 7% of NAR, but account for 16-18% of the sales and collect 20% of the commissions, why does that matter to you? Ask yourself this would you really want to list your home for sale with the other 94% of the Realtors currently licensed who hold smaller pieces of the market share?
- 52% of all TV real estate ads are Re/Max
- Re/Max has the #1 home search site built by a real estate brokerage/corporation, traveled by consumers, bringing leads to the agents' sellers; Realtor.com is the highest traveled but was built originally to capture leads which are 'sold back' to the listing agents.
Whatever you choose to do be sure that you investigate, ask tough questions, seriously consider the implications of hiring an agent who has been licensed under 5 years (they are struggling to understand our current market) and if it sounds like I may 'fit the bill' please call me to schedule an appointment for us to discuss your goals... I'd LOVE to help!
Yours to Count On,Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Sunday, September 23, 2007
I've returned from a short jaunt to Las Vegas for the Re/Max International Team Leadership Summit, having not posted since last Monday I am dying to get some info uploaded for all of my clients' benefit.
In the meantime here is a video clip of the Co-CEO of Re/Max, Margaret Kelly she was interviewed on CNBC last week and had some very pertinent things to say about Denver's market which also holds true for Phoenix... http://www.cnbc.com/id/15840232?video=524812727
Also, a commercial that explains why Re/Max is different, http://www.youtube.com/watch?v=sm9F_LrnFZ4
I will do my best to accomplish posting other statistics this Wednesday the 26th, since my notebook with some very positive market stats still needs unpacked - check back soon.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
In the meantime here is a video clip of the Co-CEO of Re/Max, Margaret Kelly she was interviewed on CNBC last week and had some very pertinent things to say about Denver's market which also holds true for Phoenix... http://www.cnbc.com/id/15840232?video=524812727
Also, a commercial that explains why Re/Max is different, http://www.youtube.com/watch?v=sm9F_LrnFZ4
I will do my best to accomplish posting other statistics this Wednesday the 26th, since my notebook with some very positive market stats still needs unpacked - check back soon.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Monday, September 17, 2007
A Perfect Storm
Ok, Honestly... this fall & winter may be the absolute best opportunity for buyer's since I can't even remember when. I have been licensed and a FULL-time Realtor since 1997, most of my career has been within a normal market, the frenzy was abnormal, did we all hear that? The frenzy was abnormal.. this is real world real estate NOW - the only difference is that with all of our current inventory it is TRULY a Buyer's market.
A seller of mine and I were talking the other day, he was sharing with me his insight on the real estate market; he works within the market himself as a contractor. During our discussion he shared with me how he feels that 'a storm is brewing' within the real estate market nationwide.
I have been thinking of those words- for several days now- here's how I see this being a storm to benefit any buyer smart enough to hire a caring Realtor & delve into this market.
- Inventory of homes is WAY up, well over 56,000 homes currently
- Buyers are at a minimum; many are too scared by negative publicity from press
- There are STRONG negotiations happening in Buyer's favor
- There are many NEW & SAFE loan programs that were widely used years ago
- Interest Rates are beginning to correct
- High number of short sales that will be foreclosed on within next few months
As of right now, inventory is at an all time high- in my 10 year career the average number of listings from my own tracking is typically around 28-30,000 we are 2x that number right now. Many of those homes are short sales (where the lender agrees to accept less than what is owed so that the home can be SOLD); a good percentage of those are not in good condition and need work done to them- with all the inventory many of them will go back in foreclosure.
Once those homes begin to go back to banks, (foreclosure takes about 6 months) the current resale market will begin to segregate itself into different categories; we will have resale homes & foreclosed properties/short sales/ distress sales. This is how the market was viewed prior to the frenzy when people would buy anything and do any work needed to it themselves.
I feel that looking at the timing of all of this that homes will begin to hit full foreclosure during this winter- with some segregation being evident by March/April, which will be just in time for the normal Spring Break rush of activity when Home Buyer's begin to look at homes.
My belief is that come next spring, even if we have close to the same number of listings, the 'division' between the differences in listings will make the market appear smaller- the true number of resale homes will be lower in the eyes of a buyer looking to buy a home to move their family into. If you are an investor you will be concentrating on distress properties, not the resale market that wants full market value.
This fall and winter may very well be the best time to buy a home for your family, or to begin investing for your future in distress properties... indeed a perfect storm may be brewing, will you be one of the smart buyers to take advantage of it?
By the way, if you are considering selling, be sure that you interview and then HIRE, a FULL-time professional Realtor so your home receives the most exposure to this market- you will fare best in that position, then be sure your agent helps you to stay on top of what is going on as often as needed. If you arm yourself with knowledge you will have the power needed to sell quickly & for top dollar.
Yours to Count On,Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Sunday, September 16, 2007
HOA New Laws
http://www.eastvalleytribune.com/story/97445
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
http://www.eastvalleytribune.com/story/97445
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Saturday, September 15, 2007
Is the Phoenix Metro Market Insulated?
August 22nd, 2007
Obtaining a home loan is going to get even more difficult.Lending guidelines are tightening almost daily for borrowers as the subprime-loan crisis spreads. Those higher-risk loans have just about disappeared as their default rates soar.Now, financing is getting tougher for all homebuyers.
On Thursday, megalender Countrywide Financial Corp. had to take out an emergency loan to keep operating, and Tucson-based First Magnus Financial Corp. stopped taking loan applications. Magnus is one of the nation’s top private lender.Earlier this year, New Century Financial Corp. and American Home Mortgage Investment Corp. filed for bankruptcy. So far, at least 70 mortgage firms have closed or put themselves up for sale since last year.Because of the meltdown in the mortgage market, lenders have begun requiring higher credit scores and bigger down payments from all borrowers. They also are charging higher interest rates to people who want to buy a home for $417,000 or more because fewer lenders want to fund them.
The tighter mortgage market will work to slow metro Phoenix’s housing market. Real-estate analysts say the new lending restrictions could knock 10 to 15 percent of home buyers out the market because they can’t get funding. That could significantly affect the local market, where a record number of homes are for sale and where sales are already down about 25 percent from 2006’s pace.
“The mortgage market has changed drastically in just the past few weeks,” said Tom Miner of the Scottsdale-based mortgage firm Miner Kennedy Chmura Associates. “We are getting calls from buyers who can’t close anymore because lenders want more documentation or money down.”
Cheryl Serbic wanted to buy a condominium in central Scottsdale. Earlier this summer, the restaurant manager qualified for an adjustable-rate mortgage that required little down.
But a week before she was to close, her lender said she needed a bigger down payment. Serbic called other lenders and got the same bad news.
“I didn’t think I needed a down payment. My friend bought last year without one,” she said. “But if the housing market is going to keep going down. I’ll save and maybe I’ll find a better deal then.”
Not all the 100 percent financing and no-documentation loans have gone away. But now, lenders are requiring borrowers’ FICO scores to be 20 to 40 points higher than last year. A 10 percent down payment, once considered standard, is now required on many more loans.
“There was a lot of dumb lending done in the past few years,” said Jay Luber of First Horizon Home Loans. “Loan guidelines now are tougher but much closer to normal.”
How we got here
In 2003, lenders started offering a slew of new easier-to-get mortgages that enabled the nation’s housing boom.Borrowers with bad credit and lower incomes could buy homes by getting subprime loans with higher interest rates.Other borrowers could get in with nothing down and without paying private mortgage insurance by using 80/20 or piggyback loans.
The 20 percent was typically a home-equity loan that covered the down payment. Lenders also cut back on the income documentation they required on loans. These “no doc” loans opened the door for people to qualify.
The housing market was booming. People thought they could refinance into better loans as home prices climbed. Lenders were making money.
Then last year, home prices and sales started to slip. The subprime market started to implode as foreclosures on those loans jumped.
Now, the foreclosure epidemic has spread to the Alt-A mortgage market, the segment between subprime and prime loans that includes many 80/20s and no-documentation loans.
Changing guidelines
Lending guidelines are changing quickly.Not only borrowers but sellers looking to move up should make sure they qualify first.The “jumbo” loan market for mortgages of $417,000 has tightened up because mortgage institutions Fannie Mae and Freddie Mac don’t guarantee loans above that amount. The investors who would have backed the bigger loans have pulled back, which is part of the mortgage market’s liquidity problem.
Tighter lending practices are also affecting homeowners looking to refinance.
In a slowing housing market, some homeowners who got subprime or adjustable-rate and interest-only loans a few years ago are finding they can’t refinance because they don’t have a high enough credit score or their house is worth less than they owe.
“Now, their rates are adjusting up, and they can’t refinance because don’t qualify under the new guidelines,” said Andy Griffin of Scottsdale-based Core Mortgage Group.
“It’s a really tough time for a lot of homeowners now, but if people can hold on and make their payments, it will be much better for them than a foreclosure.”
In its newest report, the Mortgage Bankers Association said mortgage markets are “facing a liquidity crisis of a force and magnitude not seen in decades.” It went on to say the ripple effect will be felt throughout the housing market. Those effects are already being felt here in the Valley.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
August 22nd, 2007
Obtaining a home loan is going to get even more difficult.Lending guidelines are tightening almost daily for borrowers as the subprime-loan crisis spreads. Those higher-risk loans have just about disappeared as their default rates soar.Now, financing is getting tougher for all homebuyers.
On Thursday, megalender Countrywide Financial Corp. had to take out an emergency loan to keep operating, and Tucson-based First Magnus Financial Corp. stopped taking loan applications. Magnus is one of the nation’s top private lender.Earlier this year, New Century Financial Corp. and American Home Mortgage Investment Corp. filed for bankruptcy. So far, at least 70 mortgage firms have closed or put themselves up for sale since last year.Because of the meltdown in the mortgage market, lenders have begun requiring higher credit scores and bigger down payments from all borrowers. They also are charging higher interest rates to people who want to buy a home for $417,000 or more because fewer lenders want to fund them.
The tighter mortgage market will work to slow metro Phoenix’s housing market. Real-estate analysts say the new lending restrictions could knock 10 to 15 percent of home buyers out the market because they can’t get funding. That could significantly affect the local market, where a record number of homes are for sale and where sales are already down about 25 percent from 2006’s pace.
“The mortgage market has changed drastically in just the past few weeks,” said Tom Miner of the Scottsdale-based mortgage firm Miner Kennedy Chmura Associates. “We are getting calls from buyers who can’t close anymore because lenders want more documentation or money down.”
Cheryl Serbic wanted to buy a condominium in central Scottsdale. Earlier this summer, the restaurant manager qualified for an adjustable-rate mortgage that required little down.
But a week before she was to close, her lender said she needed a bigger down payment. Serbic called other lenders and got the same bad news.
“I didn’t think I needed a down payment. My friend bought last year without one,” she said. “But if the housing market is going to keep going down. I’ll save and maybe I’ll find a better deal then.”
Not all the 100 percent financing and no-documentation loans have gone away. But now, lenders are requiring borrowers’ FICO scores to be 20 to 40 points higher than last year. A 10 percent down payment, once considered standard, is now required on many more loans.
“There was a lot of dumb lending done in the past few years,” said Jay Luber of First Horizon Home Loans. “Loan guidelines now are tougher but much closer to normal.”
How we got here
In 2003, lenders started offering a slew of new easier-to-get mortgages that enabled the nation’s housing boom.Borrowers with bad credit and lower incomes could buy homes by getting subprime loans with higher interest rates.Other borrowers could get in with nothing down and without paying private mortgage insurance by using 80/20 or piggyback loans.
The 20 percent was typically a home-equity loan that covered the down payment. Lenders also cut back on the income documentation they required on loans. These “no doc” loans opened the door for people to qualify.
The housing market was booming. People thought they could refinance into better loans as home prices climbed. Lenders were making money.
Then last year, home prices and sales started to slip. The subprime market started to implode as foreclosures on those loans jumped.
Now, the foreclosure epidemic has spread to the Alt-A mortgage market, the segment between subprime and prime loans that includes many 80/20s and no-documentation loans.
Changing guidelines
Lending guidelines are changing quickly.Not only borrowers but sellers looking to move up should make sure they qualify first.The “jumbo” loan market for mortgages of $417,000 has tightened up because mortgage institutions Fannie Mae and Freddie Mac don’t guarantee loans above that amount. The investors who would have backed the bigger loans have pulled back, which is part of the mortgage market’s liquidity problem.
Tighter lending practices are also affecting homeowners looking to refinance.
In a slowing housing market, some homeowners who got subprime or adjustable-rate and interest-only loans a few years ago are finding they can’t refinance because they don’t have a high enough credit score or their house is worth less than they owe.
“Now, their rates are adjusting up, and they can’t refinance because don’t qualify under the new guidelines,” said Andy Griffin of Scottsdale-based Core Mortgage Group.
“It’s a really tough time for a lot of homeowners now, but if people can hold on and make their payments, it will be much better for them than a foreclosure.”
In its newest report, the Mortgage Bankers Association said mortgage markets are “facing a liquidity crisis of a force and magnitude not seen in decades.” It went on to say the ripple effect will be felt throughout the housing market. Those effects are already being felt here in the Valley.
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Friday, September 14, 2007
Thank you Sue Paveza for the following quote in a recent article: "You might be selling for less, but you also might be buying for less," she said. Media coverage is having an impact on the market, she said. "The negative press is so terrible," she said. "I think the smart ones are buying now, while you media people have all the sellers thinking everything's so terrible."
Read the entire article here: http://www.azcentral.com/community/gilbert/articles/0914gr-buyers0914.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Read the entire article here: http://www.azcentral.com/community/gilbert/articles/0914gr-buyers0914.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Monday, September 10, 2007
At this time last year we were closing 10-12% of active listings monthly, we have fallen to 6% for several reason, inventory is higher, homes are still overpriced and there are more buyers waiting, waiting, waiting... why? Now is the time to have your picking of any house you like with very little competition! Call us!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Did I mention It's a BUYER'S Market??? Here's another story from a very credible source:
Is now a good time to buy a home?
Don't focus on falling prices, focus on long-term goals
Monday, September 10, 2007
By Dian Hymer Inman News
Last year, the home sale market began to slow, causing many buyers to postpone buying hoping that prices would drop. In fact, in some areas and in some segments of the market, prices have declined. However, in high-demand markets like San Francisco, Austin and Seattle, prices increased compared to a year ago, particularly for upper-end properties.
When interest rates fell below 6.5 percent at the beginning of 2007, San Francisco Bay Area buyers were back competing against one another in a low-inventory market. Was it wise for these buyers to postpone buying until 2007? Waiting resulted in lower interest rates, but in many cases, a higher purchase price.
Mass psychology influences home-buying patterns. For example, when buyers decide that it is not a good time to buy due to fear of falling prices or rising interest rates, this notion tends to become a self-fulfilling prophesy. When the volumes of home sales drop, buyers tend to hold back. When sales heat up, buyers perceive this as a good sign. They feel they must buy immediately before home prices rise and they are priced out of the market.
Buyers tend to follow the herd, which is counterintuitive. It would seem that the best time to buy would be when there isn't competition from other buyers -- that it, in a slow market. However, most buyers feel more comfortable buying when all their friends are buying. The comfort of the crowd validates that their decision is a good one.
Home sale markets are cyclical. There are up markets, down markets, and stable or balanced markets. In an ideal world, you would buy at the end of a down cycle, just before the housing market picks up again. But, it's impossible to time the real estate market. You know that the bottom of a cycle has passed only when the market is moving upwards again.
HOUSE HUNTING TIP: Given the cyclical nature of housing markets, home buying is risky unless you have a long-term perspective in mind. If you buy at the peak of a cycle and are forced to sell soon after in a softer market, you could end up selling for less than the price you paid. Buyers who can stay put and ride out a down cycle are in a better position to recoup their investment when they sell, and possibly make a profit.
In an uncertain market, buyers who are not sure about how long they will be living in an area may be better off renting than buying. It's often difficult to find a rental that feels like home. However, from a purely financial point of view, buying for the short term could end up costing more than you anticipated if you need to sell in a down market.
A common complaint about renting is that it's a waste of money. There are no tax benefits and you don't build equity. However, it can cost less to rent than to buy. To get the tax write-off, you often need to pay more than you'd have to pay renting. Renting usually requires no home maintenance and there's no risk of losing equity.
Good candidates for buying in a slower market are buyers who are ready to put down roots and stay put for awhile. This not only means that you aren't planning on moving out of the area soon, but it also means that you can afford to buy a home that will suit your long-term needs.
THE CLOSING: A purchase decision should involve a consideration of the dynamics at play in your local market. Prices might or might not drop in your area. In many places, sales volume is off, but not prices. When inventories are reduced and buyers are back in droves, prices could go up.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.
***
What's your opinion? Send your Letter to the Editor to opinion@inman.com.
Copyright 2007 Dian Hymer
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Is now a good time to buy a home?
Don't focus on falling prices, focus on long-term goals
Monday, September 10, 2007
By Dian Hymer Inman News
Last year, the home sale market began to slow, causing many buyers to postpone buying hoping that prices would drop. In fact, in some areas and in some segments of the market, prices have declined. However, in high-demand markets like San Francisco, Austin and Seattle, prices increased compared to a year ago, particularly for upper-end properties.
When interest rates fell below 6.5 percent at the beginning of 2007, San Francisco Bay Area buyers were back competing against one another in a low-inventory market. Was it wise for these buyers to postpone buying until 2007? Waiting resulted in lower interest rates, but in many cases, a higher purchase price.
Mass psychology influences home-buying patterns. For example, when buyers decide that it is not a good time to buy due to fear of falling prices or rising interest rates, this notion tends to become a self-fulfilling prophesy. When the volumes of home sales drop, buyers tend to hold back. When sales heat up, buyers perceive this as a good sign. They feel they must buy immediately before home prices rise and they are priced out of the market.
Buyers tend to follow the herd, which is counterintuitive. It would seem that the best time to buy would be when there isn't competition from other buyers -- that it, in a slow market. However, most buyers feel more comfortable buying when all their friends are buying. The comfort of the crowd validates that their decision is a good one.
Home sale markets are cyclical. There are up markets, down markets, and stable or balanced markets. In an ideal world, you would buy at the end of a down cycle, just before the housing market picks up again. But, it's impossible to time the real estate market. You know that the bottom of a cycle has passed only when the market is moving upwards again.
HOUSE HUNTING TIP: Given the cyclical nature of housing markets, home buying is risky unless you have a long-term perspective in mind. If you buy at the peak of a cycle and are forced to sell soon after in a softer market, you could end up selling for less than the price you paid. Buyers who can stay put and ride out a down cycle are in a better position to recoup their investment when they sell, and possibly make a profit.
In an uncertain market, buyers who are not sure about how long they will be living in an area may be better off renting than buying. It's often difficult to find a rental that feels like home. However, from a purely financial point of view, buying for the short term could end up costing more than you anticipated if you need to sell in a down market.
A common complaint about renting is that it's a waste of money. There are no tax benefits and you don't build equity. However, it can cost less to rent than to buy. To get the tax write-off, you often need to pay more than you'd have to pay renting. Renting usually requires no home maintenance and there's no risk of losing equity.
Good candidates for buying in a slower market are buyers who are ready to put down roots and stay put for awhile. This not only means that you aren't planning on moving out of the area soon, but it also means that you can afford to buy a home that will suit your long-term needs.
THE CLOSING: A purchase decision should involve a consideration of the dynamics at play in your local market. Prices might or might not drop in your area. In many places, sales volume is off, but not prices. When inventories are reduced and buyers are back in droves, prices could go up.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle Books.
***
What's your opinion? Send your Letter to the Editor to opinion@inman.com.
Copyright 2007 Dian Hymer
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Sunday, September 09, 2007
Companies work to survive the real estate slump
Catherine Reagor, The Arizona Republic
Sept. 6, 2007 12:00 AM
This article helped me as a Realtor feel alot more connected to the reality that if you aren't working SMARTER rather than HARD in this industry, you will burn out quick and probably leave the business!
Housing accounts for at least $1 in every $3 generated in metro Phoenix. So when home sales and building slow, the economic pain spreads everywhere.
The housing slowdown starts with builders and real-estate brokers. It then creeps up on subcontractors, architects, engineers, mortgage lenders, landscapers, interior designers and, finally, retailers such as furniture and grocery stores.
No one is calling for the Valley's housing market to crash as it did in the late 1980s. The rest of the area's economy, including the commercial real-estate market, is still strong.
But RL Brown, housing analyst and publisher, said Arizona companies need to face reality and try to make money in the current housing climate, because a repeat of 2004 and '05 isn't going to happen.
Read More Here: http://www.azcentral.com/arizonarepublic/news/articles/0906survival0906.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Catherine Reagor, The Arizona Republic
Sept. 6, 2007 12:00 AM
This article helped me as a Realtor feel alot more connected to the reality that if you aren't working SMARTER rather than HARD in this industry, you will burn out quick and probably leave the business!
Housing accounts for at least $1 in every $3 generated in metro Phoenix. So when home sales and building slow, the economic pain spreads everywhere.
The housing slowdown starts with builders and real-estate brokers. It then creeps up on subcontractors, architects, engineers, mortgage lenders, landscapers, interior designers and, finally, retailers such as furniture and grocery stores.
No one is calling for the Valley's housing market to crash as it did in the late 1980s. The rest of the area's economy, including the commercial real-estate market, is still strong.
But RL Brown, housing analyst and publisher, said Arizona companies need to face reality and try to make money in the current housing climate, because a repeat of 2004 and '05 isn't going to happen.
Read More Here: http://www.azcentral.com/arizonarepublic/news/articles/0906survival0906.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Friday, September 07, 2007
FLY THE FLAG Campaign 9-11-07
I received this as an email from a friend and felt it necessary to share. My husband and I place flags out at entry points within our community (over 40 total 8 ft flags) on all holidays, including 9/11 so I loved that other people find it as important!
Please join us in this FLY THE FLAG campaign and PLEASE forward this email immediately to everyone in your address book asking them to also forward it.
THE PROGRAM IS THIS: On Tuesday, September 11th, 2007, an American flag should be displayed outside every home, apartment, office, and store in the United States. Every individual should make it their duty to display an American flag on this anniversary of our country's worst tragedy.
We do this in honor of those who lost their lives on 9/11, their families, friends, and loved ones who continue to endure the pain, and those who today are fighting at home and abroad to preserve our cherished freedoms.In the days, weeks and months following 9/11, our country was bathed in American flags as citizens mourned the incredible losses and stood shoulder-to-shoulder against terrorism. Sadly, those flags have all but disappeared.
Our patriotism pulled us through some tough times and it shouldn't take another attack to galvanize us in solidarity. Our American flag is the fabric of our country and together we can prevail over terrorism of all kinds.
Action Plan: So, here's what we need you to do...(1) Forward this email to everyone you know (at least 11 people). Please don't be the one to break this chain. Take a moment to think back to how you felt on 9/11 and let those sentiments guide you.(2) Fly an American flag of any size on 9/11.
Thank you for your participation.God Bless You and God Bless America!
Thanks to Terri Billington =>>
Yours to Count On,Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Thursday, September 06, 2007
A 50,900-square-foot home
Associated Press
Sept. 2, 2007 12:00 AM
Wow! This might be too large for even me to imagine... Here's full story: http://www.azcentral.com/arizonarepublic/news/articles/0902Mansion0902.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Associated Press
Sept. 2, 2007 12:00 AM
Wow! This might be too large for even me to imagine... Here's full story: http://www.azcentral.com/arizonarepublic/news/articles/0902Mansion0902.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Wednesday, September 05, 2007
We interrupt this financial news story...
To bring you a response!!
Dear Mr. Bernanke,
Thanks for the history lesson on housing today. We have been taught we can learn a lot about our future from our past, but somehow our future has a lot of factors that our past could not even imagine. You know like that technology stuff, global events, and our ever rising population in the United States. The markets are waiting for you to cut the Fed Rate and conventional wisdom thinks it will save the housing market. You said you are watching the housing market and will intervene if it continues to decline. But unless I am missing something, the Fed Rate has nothing to do with our clients that want to purchase or refinance with a 30 year fixed rate; since the fixed rate loans are decided by the 10 year treasury bonds. It will take several Fed cuts to make the adjustable rate mortgages competitive again (17 cuts to be exact to get back to 2005 levels). Even without the rate cut, the economy in other sectors is humming along at a steady pace. And President Bush says he is implementing "strategerie" to "save" homeowners who have sub prime loans that cannot make their mortgage payment. That would be awesome if he has come up with a way to lasso all of the different banks and servicing entities that are now involved. But unless current borrowers can call 1-800-"I didn't read my closing documents" or 1-800 "the builder made me take this loan" it smells more of playing the press than a fast acting plan.
Regards,
The Housing Market
thank you to Mary Ellen a colleague
To bring you a response!!
Dear Mr. Bernanke,
Thanks for the history lesson on housing today. We have been taught we can learn a lot about our future from our past, but somehow our future has a lot of factors that our past could not even imagine. You know like that technology stuff, global events, and our ever rising population in the United States. The markets are waiting for you to cut the Fed Rate and conventional wisdom thinks it will save the housing market. You said you are watching the housing market and will intervene if it continues to decline. But unless I am missing something, the Fed Rate has nothing to do with our clients that want to purchase or refinance with a 30 year fixed rate; since the fixed rate loans are decided by the 10 year treasury bonds. It will take several Fed cuts to make the adjustable rate mortgages competitive again (17 cuts to be exact to get back to 2005 levels). Even without the rate cut, the economy in other sectors is humming along at a steady pace. And President Bush says he is implementing "strategerie" to "save" homeowners who have sub prime loans that cannot make their mortgage payment. That would be awesome if he has come up with a way to lasso all of the different banks and servicing entities that are now involved. But unless current borrowers can call 1-800-"I didn't read my closing documents" or 1-800 "the builder made me take this loan" it smells more of playing the press than a fast acting plan.
Regards,
The Housing Market
thank you to Mary Ellen a colleague
Some Cool Things I have run across lately from friends & colleagues that I want to share;
Talking Smoke Alarms Can Save Children's Lives
Research has shown that, although children may sleep through an audible smoke alarm, they will respond more quickly to the sound of a known voice urging them to get up. This is due to the brain's ability to recognize one's own name or a familiar voice even while asleep. New vocal smoke alarms allow you to record your own alarm messages and exit instructions to help reduce critical exit times. For example: "Taylor, this Mom!! There is a fire!! Get Up!! Get up now and go outside!!" There are several options available that an internet search for "Talking Smoke Alarms" will locate. (The video from this link takes time to load but is worth the wait) A video clip from a Boston TV station investigative report graphically demonstrates the differences between talking and non-talking alarms.
this was sent to me by The Owens who live in Holliday Farms and own a home inspection business, you can reach them at 602-799-8396, if you are in need of inspection services.
Put your car keys beside your bed at night.
If you hear a noise outside your home or someone trying to get in your house, just press the panic button for your car. The alarm will be set off, and the horn will continue to sound until either you turn it off or the car battery dies. This tip came from a neighborhood watch coordinator. Next time you come home for the night and you start to put your keys away, think of this: It's a security alarm system that you probably already have and requires no installation. Test it.It will go off from most everywhere inside your house and will keep honking until your battery runs down or until you reset it with the
button on the key fob chain. It works if you park in your driveway or garage. If your car alarm goes off when someone is trying to break in your house, odds are the burglar or rapist won't stick around...after a few seconds all the neighbors will be looking out their windows to see who is out there and sure enough the criminal won't want that. And remember to carry your keys while walking to your car in a parking lot. The alarm can work the same way there.....This is something that should really be shared with everyone. Maybe it could save a life or a sexual abuse crime.
P.S. I am sending this to everyone I know because I think it is fantastic.Would also be useful for any emergency , such as a heart attack, where you can't reach a phone
Thank you to Terri Billington for sharing this!
Talking Smoke Alarms Can Save Children's Lives
Research has shown that, although children may sleep through an audible smoke alarm, they will respond more quickly to the sound of a known voice urging them to get up. This is due to the brain's ability to recognize one's own name or a familiar voice even while asleep. New vocal smoke alarms allow you to record your own alarm messages and exit instructions to help reduce critical exit times. For example: "Taylor, this Mom!! There is a fire!! Get Up!! Get up now and go outside!!" There are several options available that an internet search for "Talking Smoke Alarms" will locate. (The video from this link takes time to load but is worth the wait) A video clip from a Boston TV station investigative report graphically demonstrates the differences between talking and non-talking alarms.
this was sent to me by The Owens who live in Holliday Farms and own a home inspection business, you can reach them at 602-799-8396, if you are in need of inspection services.
Put your car keys beside your bed at night.
If you hear a noise outside your home or someone trying to get in your house, just press the panic button for your car. The alarm will be set off, and the horn will continue to sound until either you turn it off or the car battery dies. This tip came from a neighborhood watch coordinator. Next time you come home for the night and you start to put your keys away, think of this: It's a security alarm system that you probably already have and requires no installation. Test it.It will go off from most everywhere inside your house and will keep honking until your battery runs down or until you reset it with the
button on the key fob chain. It works if you park in your driveway or garage. If your car alarm goes off when someone is trying to break in your house, odds are the burglar or rapist won't stick around...after a few seconds all the neighbors will be looking out their windows to see who is out there and sure enough the criminal won't want that. And remember to carry your keys while walking to your car in a parking lot. The alarm can work the same way there.....This is something that should really be shared with everyone. Maybe it could save a life or a sexual abuse crime.
P.S. I am sending this to everyone I know because I think it is fantastic.Would also be useful for any emergency , such as a heart attack, where you can't reach a phone
Thank you to Terri Billington for sharing this!
Tuesday, September 04, 2007
SW Valley leads realty rebound, experts say
David Madrid, The Arizona RepublicSept. 4, 2007 12:00 AM
This article had several quotes that I fully agreed with, almost talked out loud to myself when I read them, and I have explained the same to some of my own clients, here they are;
Carl Giordano Sr., of Giordano and Giordano RE/MAX Achievers in Goodyear, said he and his wife and business partner, Phyllis, think the housing market is stabilizing. "Phyllis and I believe this is a good market," Giordano said.
"And what I mean by a good market is everything that needed to be weeded out is being weeded out. We're back to old real estate. You've got FHA. You've got VA, and you've got conventional (loans)."That weeding out of subprime lenders and real-estate agents who entered an overpriced 2005 market to make an easy buck is stabilizing the market, he said.
HALLELUJAH & AMEN, that's what I say!!
Sharon DeMoss, a realty agent with Keller Williams Realty Professional Partners in Goodyear, said because of the subprime meltdown, the market is flooded with listings.
Subprime lenders pushed adjustable-rate mortgages that began with a low interest rate. Once the rate increased, too many people couldn't afford the payments."Many of them (resale homes) are overpriced," DeMoss said. "We are sitting with our sellers and saying, 'You guys have to be the lowest price in your subdivision for your floor plan.'
And many times that doesn't even do it because many buyers are coming in and saying, 'I don't think the bottom is here yet. If I pay $250,000 for this house, how do I know that in six months I'm not going to be able to get it for $200,000?' "
this is the sad but brutal truth in the world of a seller currently, Your home must be stellar, marketed properly or priced right to compensate for any missing elements of the latter.
To read entire article go to: http://www.azcentral.com/business/articles/0904biz-swv-homesales0904.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
David Madrid, The Arizona RepublicSept. 4, 2007 12:00 AM
This article had several quotes that I fully agreed with, almost talked out loud to myself when I read them, and I have explained the same to some of my own clients, here they are;
Carl Giordano Sr., of Giordano and Giordano RE/MAX Achievers in Goodyear, said he and his wife and business partner, Phyllis, think the housing market is stabilizing. "Phyllis and I believe this is a good market," Giordano said.
"And what I mean by a good market is everything that needed to be weeded out is being weeded out. We're back to old real estate. You've got FHA. You've got VA, and you've got conventional (loans)."That weeding out of subprime lenders and real-estate agents who entered an overpriced 2005 market to make an easy buck is stabilizing the market, he said.
HALLELUJAH & AMEN, that's what I say!!
Sharon DeMoss, a realty agent with Keller Williams Realty Professional Partners in Goodyear, said because of the subprime meltdown, the market is flooded with listings.
Subprime lenders pushed adjustable-rate mortgages that began with a low interest rate. Once the rate increased, too many people couldn't afford the payments."Many of them (resale homes) are overpriced," DeMoss said. "We are sitting with our sellers and saying, 'You guys have to be the lowest price in your subdivision for your floor plan.'
And many times that doesn't even do it because many buyers are coming in and saying, 'I don't think the bottom is here yet. If I pay $250,000 for this house, how do I know that in six months I'm not going to be able to get it for $200,000?' "
this is the sad but brutal truth in the world of a seller currently, Your home must be stellar, marketed properly or priced right to compensate for any missing elements of the latter.
To read entire article go to: http://www.azcentral.com/business/articles/0904biz-swv-homesales0904.html
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
It's a BUYERS market baby! Have you seen that cell phone carrier commercial where they are promoting unlimited minutes, and it's a realtor talking to different clients... it always made me laugh because it seemed like she was such a 'stereotypical' (in the general public's eye) real estate agent. I thought of it again as I was working on this posting- specifically how at one point she is speaking to a seller telling them they are in control of the market, then answering another call and proclaiming, "It's a BUYERS market baby!!"
That filp-flopping immediately is a true example of how all of us full-time, professional realtors felt when the seller's market ended, almost overnight!!
Well it is certainly a TRUE Buyer's market out there- here's some info from other postings I have found online that I found very helpful for anyone considering a home purchase:
Taking Advantage of a Buyer's Market
Potential home buyers have been waiting with bated breath for a change in the real estate market. For many years the nationwide market trend has been a seller's market. In most markets, that has changed to some extent. With the construction boom this country has experienced over the past few years there is now an abundance of home inventory in many locations across the U.S. This has created that "buyer's market" people have been waiting for. In a buyer's market there are many homes and fewer buyers which makes owners have to be more competitive to attract those buyers.
The question is: "how can you best take advantage of a buyer's market?"
The first step is to get your financials in order so your mortgage approval can be done swiftly. With the money question answered you can move on to searching for the perfect home.
One thing you may notice about a buyer's market is that homes may tend to be listed for a longer period of time. This can work in your favor as sellers become more and more anxious the longer a home is on the market. This is not to say you can simply low ball them and steal a home but you may find they are more open to negotiation than they would be if the buyer's market was not a factor.
In a buyer's market you are in a naturally advantageous position and it can be easy to lose sight of the final goal. The main idea here is to find a great home that will suit you and your family for years to come or to form a piece of a well-planned investment portfolio. The idea is not to find the cheapest home or the most desperate sellers. Try to think in terms of what will fulfill the dynamic and changing needs of your life now and in the future. A well-planned home purchase can be the most gratifying purchase you'll ever make. It's all the sweeter if you just happen to get a great deal in the process.
We will be posting information here as often as possible to help buyer's better understand why NOW is the time to buy, as well as how sellers can make their homes stand out from the crowd!! So come back soon!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.phoenixareamls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
That filp-flopping immediately is a true example of how all of us full-time, professional realtors felt when the seller's market ended, almost overnight!!
Well it is certainly a TRUE Buyer's market out there- here's some info from other postings I have found online that I found very helpful for anyone considering a home purchase:
Taking Advantage of a Buyer's Market
Potential home buyers have been waiting with bated breath for a change in the real estate market. For many years the nationwide market trend has been a seller's market. In most markets, that has changed to some extent. With the construction boom this country has experienced over the past few years there is now an abundance of home inventory in many locations across the U.S. This has created that "buyer's market" people have been waiting for. In a buyer's market there are many homes and fewer buyers which makes owners have to be more competitive to attract those buyers.
The question is: "how can you best take advantage of a buyer's market?"
The first step is to get your financials in order so your mortgage approval can be done swiftly. With the money question answered you can move on to searching for the perfect home.
One thing you may notice about a buyer's market is that homes may tend to be listed for a longer period of time. This can work in your favor as sellers become more and more anxious the longer a home is on the market. This is not to say you can simply low ball them and steal a home but you may find they are more open to negotiation than they would be if the buyer's market was not a factor.
In a buyer's market you are in a naturally advantageous position and it can be easy to lose sight of the final goal. The main idea here is to find a great home that will suit you and your family for years to come or to form a piece of a well-planned investment portfolio. The idea is not to find the cheapest home or the most desperate sellers. Try to think in terms of what will fulfill the dynamic and changing needs of your life now and in the future. A well-planned home purchase can be the most gratifying purchase you'll ever make. It's all the sweeter if you just happen to get a great deal in the process.
We will be posting information here as often as possible to help buyer's better understand why NOW is the time to buy, as well as how sellers can make their homes stand out from the crowd!! So come back soon!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.phoenixareamls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!
Sunday, September 02, 2007
Hello to anyone who may cross this page... allow me to start by telling you that I intended to begin this BLOG over a year ago before the birth of my second daughter-(any mother reading this is thinking- is she CRAZY??) the short answer is mostly.
I have been holding some information over the past month hoping to get started and post some info, and while the youngest is napping I figured I would proclaim- let's get started!! I won't promise that this BLOG will last, I can only promise that I am starting officially, and I will be diligent in my efforts, just know that if at anytime I declare this BLOG as done-it won't be from a lack of trying because if there is anything I enjoy in life it's a CHALLENGE!!
You will find that topics will range from the current real estate market, home values in specialized areas, growth of valley, statistics, community events, Highland Park Elementary PTSO, Yearbook Editing, and the raising of my 2 daughters age 6 & 1!!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit www.phoenixareamls.com to learn more about Your Advisory Team & Our Performance GUARANTEES!!
I have been holding some information over the past month hoping to get started and post some info, and while the youngest is napping I figured I would proclaim- let's get started!! I won't promise that this BLOG will last, I can only promise that I am starting officially, and I will be diligent in my efforts, just know that if at anytime I declare this BLOG as done-it won't be from a lack of trying because if there is anything I enjoy in life it's a CHALLENGE!!
You will find that topics will range from the current real estate market, home values in specialized areas, growth of valley, statistics, community events, Highland Park Elementary PTSO, Yearbook Editing, and the raising of my 2 daughters age 6 & 1!!
Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572
p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit www.phoenixareamls.com to learn more about Your Advisory Team & Our Performance GUARANTEES!!
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