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!!
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