Got HD Camera?

I’m not bragging, I want to share mine. Videos are all the rage these days, and I want to put your listing on Youtube in HD. Need to think about it some more? Check out this online advertising I did for an investor of mine.

Looks great, right? So on top of all my other great services, I now want to empower you further with videos that you can share with your friends and family.

Tempe Neighborhoods Section

In my ultimate desire to give you all the information you can handle, I’ve added a neighborhoods section. I’ve started it with two of the most popular subdivisions in Tempe, Marlborough Park and The Lakes. If you have any that you would like to know more about, please let me know in the comment section.

Cheers

2920292 Carmel Update

Arizona MLS stands up to the Man

Congratulations to all of us who voiced our concerns regarding NAR’s decision to support MIBOR’s pathetic claim that Google is a site scraper.  For those of you just tuning in, an Indianopolis board ruled that we as Realtors had to do our best to restrict Google from finding your property on a traditional search.  For example, if you listed your home with me, I had to prevent anybody from finding your home on the internet.  Thankfully, we were able to explain to the ARMLS how dumb of an idea this is, and that the decision only serves to harm our customers, not help.  Here is their press release:

Arizona MLS Takes Stand on “Scraping” and “Indexing”
RECENT NAR INTERPRETATION CREATES COMPETITVE DISADVANTAGE FOR REALTORS®
PHOENIX, AZ – JUNE 10, 2009 – The Arizona Regional Multiple Listing Service (ARMLS) is taking a stand on a recent National Association of REALTORS® (NAR) ruling on the technical interchangeability of “scraping” and “indexing” as it pertains to display of the IDX Database on the Internet. A recent controversial interpretation issued through the Center for Real Estate Technology (CRT), NAR’s technology arm, advised members that “scraping” and “indexing” are in effect the same practice and represent misappropriation of the IDX Database. ARMLS believes that this ruling places NAR members at a distinct and serious competitive disadvantage.

ARMLS maintains that the CRT opinion does not factor in the end use of the “scraped” and “indexed” listing data. It fails to distinguish between benign and malicious “scraping” and “indexing.” These practices are termed benign if they provide intended benefits to the consumer and the buyers and sellers whom the REALTOR® serves, and are not in conflict with the ARMLS IDX Policy. They are deemed malicious if they utilize the listing data in a manner foreign to the original intent of the REALTOR® and the property owner, and are incompatible with the ARMLS IDX Policy. The practice of “scraping” or “indexing” by search engines for the purpose of displaying or indexing the data for consumer property search, and which ultimately directs the consumer back to its source, is benign, and is in sync with the REALTOR’S® intention when displaying listings on the Internet. When a third party, e.g. a search engine, through “scraping” or “indexing” misappropriates and uses the listing data for purposes not intended by the property owner or REALTOR® , these practices become malicious and should be prohibited. Any interpretation by NAR prohibiting REALTORS® from allowing search engines, such as Google, from benign “scraping” and “indexing” listing data puts the REALTOR® at a distinct competitive disadvantage.

The ARMLS IDX Policy contains the statement that “IDX Brokers must protect the IDX Database from misappropriation by employing reasonable efforts to monitor and prevent “scraping” or other unauthorized accessing, reproduction or use of the IDX Database.” The interpretation of this policy was not intended to discourage dissemination of listing information through search engine indexing or to discourage brokers or their permitted licensees who offer listings from optimizing their listings to achieve higher search engine placement. ARMLS supports and encourages a change in NAR’s interpretation of “scraping” and “indexing” that factors in the results of such activities and removes any competitive disadvantage that NAR’s current opinion creates.

Home Sales Approaching Summer of 2005

Another crazy month has just gone by here in Phoenix metro, and all we hear in the news is “The market is showing signs of picking up.”  Oh well, instead of harping on the news media, let’s celebrate the fact that our market has completely turned around!  Last month, 8,176 homes exchanged hands.  This is almost twice as many homes sold than May of last year, and more than three times the valley that was January, 2008.

History of Homes Sold in Phoenix

History of Homes Sold in Phoenix


So why has this happened? Obviously, the mood in the market has certainly turned around. Without the constant bombardment that our economy will collapse, the resilient American people are ready to buy again. Home prices are also approaching historic levels, and many people are starting to see that buying a house is less expensive than renting! We are still seeing the true investors buying properties as well. Of all the homes sold last month, 3113 were bought in cash. That’s almost 2 out of every 5! So the next time somebody tells you that the market is slow, just smile and nod because you are now armed with valuable knowledge and are months ahead in the real estate world.

Market Analysis for May 2009

I’m going to say this once, so you’d better listen carefully. There are 33,621 homes available for sale in Phoenix metro today. 33,621!!! Ok, I lied, I didn’t say it once, but what do you expect? This is the lowest we’ve had since…well…our last real estate boom! To appreciate the craziness of this, imagine that we are getting flooded with thousands and thousands of foreclosures every month. On top of that, we had months and months of speculation that the market is plummeting. Even today, many people still ask whether we are at the bottom. Well, if we’re not at the bottom, we’re pretty darn near it! Just this time last year, there were 47,033 homes available for sale.

Real Estate Volume for May 2009

Real Estate Volume for May 2009

Overall, we have five and a half months of inventory in Phoenix metro. With another couple of months like this, we’ll be down to four months of inventory and the craziness we see today will feel like sanity. If you’re actively looking for a home, then you’re certainly well aware that the best homes don’t last a week. So if you find the home that’s right for you, write a good offer. Otherwise, you will be looking for a long time.

In Tempe, we are at 7.55 months of inventory compared to 8.68 months last month. This is especially startling considering last month, we had 456 homes available for sale and today, we have 846. The big difference maker here is that the 160 homes we had pending last month actually led to 140 closings. 140/160 is an excellent ratio because of qualifying issues, inspection issues, and other random life events that occur. Even better news, we have 211 in pending today.

Real Estate Inventory

Real Estate Inventory

The city of Phoenix specifically is doing well at 4.67 months of inventory. A large factor here is that homes less than $100,000 are moving like hotcakes. Because Phoenix is so diverse and large, it has many pockets where good solid homes can be bought for five figures. On the other end of the spectrum is Paradise Valley. They currently have more than 2 years of inventory. Of course, pricing is an issue for two reasons. First, is the fact that jumbo loans are at a much higher interest rate. Jumbo is anything larger than $417,000. The second is the obvious price tag.

Active Pending Sold Inventory
Tempe 846 211 140 7.55
Chandler 1617 622 403 5.56
Gilbert 1707 683 456 5.24
Scottsdale 5184 788 513 11.64
Mesa 3146 1114 735 5.80
Ahwatukee 611 198 129 6.27
Paradise Valley 580 26 24 25.25
Phoenix 8789 3456 2623 4.67
Maricopa County 33621 11531 8176 5.52