Scottsdale AZ Real Estate | Bill Duffey | REMAX | Carefree, Cave Creek, Paradise Valley and North Phoenix - Homes, Land and Commercial PropertiesRE/MAX Excalibur REALTOR®Bill Duffey, Scottsdale AZ |
| MONTHLY NEWSLETTER - bill Duffey HAPPY HOLIDAYS! December 2007 from Bill Duffey RE/MAX Excalibur 480- 585- 2904 Just wanted to wish you "Happy Holidays"! And a Happy New Year! Happy Holidays to all! Hope this finds all of you (and your loved ones) well, as we look forward to a brighter year - next year. As you know, our real estate market has been less than impressive, but there are some bright spots on the horizon. First of all, homes are selling! From the news, you would think that nothing is selling, but that is not the case. The persistent problem is the glut of homes on the market. There is no stopping it, apparently. As you know, I have advised you to hold off on listing your homes - as long as possible, but it is clear that waiting will no longer make any difference. This Buyer’s market is here to stay for some time and if you want to sell, you need to get your home/property on the market, in January. It will take some time, as Buyer’s have a lot of inventory to look at before deciding. Also, the MLS has made some changes that affect the days-on-market issue, as discussed in past issues. That is good news for Sellers. Call me for details. Folks are starting to look, again! Especially, foreign investors! They know a good market when they see one. With the U.S. dollar at an all-time low, they are starting to flock into our market. There are some huge land purchases, via those investors (see below). NOW, IS THE TIME TO BUY! I cannot say it enough! If you think you are going to wait to catch the absolute LOW, you will most likely miss it, anyway. Every time we go through this market cycle, clients MISS the opportunity – then complain about it for years – the – “should have done it” syndrome. Buy now! Even Donald Trump is advising to “buy” everything in sight. Our market will go up in the future. On the “for sale” side of the equation, get your home on the market – sell it for a realistic price and make up the equity differential on your next purchase. This is not rocket science, it is reality! You need to bank whatever equity you can, apply it to your next purchase and move on. Remember, when the Buyer’s market is over, builders will chew up whatever space remains in our North Scottsdale/North Phoenix area and you will be hard-pressed to sell into that market, as well. Happy Holidays! Stay in touch. Bill **************************** By Michael Corkery The Phoenix housing market, one of the hardest hit in the country, is the scene of sharply falling prices and a rapidly accumulating glut. But the market also is beginning to see a phenomenon that at first glance would seem to contradict these other trends: land sales. Wolff Co. and Langley Properties, two local real-estate investment firms, recently paid $70 million to acquire nearly 7,000 acres of residential land, or about 23,000 house lots, on the far outskirts of Phoenix, from D.R. Horton Inc., one of the nation's largest builders. John Laing Homes, a large privately held builder based in Newport Beach, Calif., bought 136 house lots from developer SunCor in September, its first-ever land purchase in the Phoenix market. John Laing, a subsidiary of Dubai-based Emaar Properties, plans to start building model homes in the first quarter of 2008 and will likely start selling homes in May. http://www.realestatejournal.com/buysell/markettrends/20071210-corkery.html?refresh=on ******************************* Home sale charts are available - click on the links or email me. Scottsdale Data: http://www.armls.com/pdfs/HmSalesSctNov07.pdf *************************** NEWS ITEMS> Canadians snap up American homes Housing construction hits 16-year low Home prices see first drop in 13 years US home prices fell 4.5%, sharpest drop in 21 years NORTHEAST PHOENIX - The Falls at Desert Ridge, a 3,700-home development near State trust land will be in play next year in the northeast Valley with close to a dozen auctions planned for more than 2,400 acres. *******More News************* CNN MONEY.com: “Home prices take a steeper downturn” / “Freddie cuts dividend, plans to sell $6B in stock” / “Foreclosures: Mayors see major hit to economy…local industry and tax collections” / “MBA: Mortgage application tumble” / “Home sales hit new low, prices drop” / “New home sales lag, prices plunge” / “October foreclosure filings surge” / “Bear Stearns cutting costs, 650 more jobs” / “New home prices: Worst drop in 37 Years” / “Foreclosure impact: Next stop, tax drop” / “Hope grows for a half-point cut” / “Paulson, lenders discuss freeze on intro rates” / “Rate freeze plan for ARM’s gains traction” USA TODAY: “Report: Sharpest drop in housing prices in index’s history” / “Freddie Mac Expects deeper losses” / “Housing woes have domino effect” / “Stocks rise as Citi secures capital, Easing credit fears” / “Existing home sales fall again” / “Fed official says turmoil has worsened, hints at rate cut” / “Home prices skid 5.1% to March 2005 level; sales fall” / “Rates on 30-year mortgages fall to lowest point in 2 years” FOXbusiness.com: “Can Mortgage Plan Save Subprime Borrowers?” CBS NEWS: “3Q Home Prices Down, Foreclosures Double” abcNEWS: “A Life Raft for Subprime Borrowers?” / “Home Sales Drop for Eighth Straight Month” Bloomberg.com: “Freddie Mac to Sell $6 Billion in Preferred Stock” / “Recession Signs Grow as Winnebago Leads U.S RV Drop” / “Kohn Sees Risk of Reduced Credit From Market Upheaval” “Stocks Rise, Led by Banks; Wells Fargo, Countrywide Gain” / “Paulson, Banks in Talks to Stem Surge in Foreclosures” Phoenix Business Journal: “Phoenix home prices down 8.8 percent over 2006” / “Phoenix-area home permits hit 15-year low, but market may be stabilizing” MSNBC.com “Study: Rising foreclosures to hurt U.S. cities” / “Wall Street surges on rate cut hopes” AP Associated Press: “S&P:3Q Home Prices Fall by 4.5 Percent” THE ARIZONA REPUBLIC: “Mortgage inquiries swamping Arizona…for fraud and other illegal lending practices” / “Foreclosures hit wealthier areas hardest…The Valley’s growing foreclosure problem is hitting the upper and middle class the hardest” *************************** 3rd Quarter results for ARMLS: Economic and Market Watch Report Available – just email me for the report. *************************** Terry Goddard Urges Caution on Extended Warranty Offers Attorney General Terry Goddard is warning consumers to be skeptical of postcards mailed to The cards appear to be legitimate and have names similar to official organizations or government agencies. The notices are stamped with phrases such as “final notice” or “priority level: high” to create a false sense of urgency. When the consumer calls the phone number provided on the card, they are usually encouraged to purchase a high-priced extended warranty for their vehicle. Callers are told they must make a down payment prior to receiving warranty information from the company. The Attorney General’s Office was made aware of these postcards through the Seniors Strike Back program, which started in May. Hundreds of seniors across the state turned over their junk mail, which has been inspected for scams and fraudulent offers. Goddard offers consumers the following advice: • Ask yourself if this is true. Many of these offers are sent to consumers whose car warranties expired years ago. • Always obtain warranty information in writing prior to signing up or sending any money. • Be leery of companies that solicit by mail. • Never give out personal identifying or financial information over the phone. • Ask questions about the soliciting organization. A legitimate company will be happy to answer them. • Check with the Better Business Bureau to see if complaints have been filed against the company. If you believe you have been a victim of fraud, please contact the Attorney General's Office in ******************************************** Dog-lover? It's really true that dogs are your 'best friend.' However, when the dog gets into a skunk or other smelly stuff, it's time for a bath!There's a secret to removing strong smells. Pre-wash your pet with full-strength tomato juice before you wash with shampoo. Then use a special rinse of a few tablespoons of ammonia mixed with a gallon of warm water. Be sure to keep this rinse away from the dog's eyes. Use plain warm water for a final rinse. In a short time Fido will be back to his or her tricks, smelling sweet, instead of sour. If you can use this tip, I'm glad for you, and for Fido. My job is to help remove the unpleasant parts of shopping, financing, and handling details when you make a real estate move. Call me anytime and I'll obey your command. Sit, speak, or find you a home! Regards, William Duffey GO TO MY CONCIERGE PAGE FOR A LIST OF VENDORS. <click here Hope you enjoyed this newsletter...let me know if you have suggestions or if you would like me to write an article on any real estate subject.
Please remember that selling or buying your home is not a "do-it-yourself" project. Call me, and I'll handle all the details. I also have a "Moving Coach"! The service is Free for my clients. *Please consult your tax adviser. Please note: This email and any attachments contain confidential and/or privileged information for the sole use of the intended recipient. If you are not the intended recipient you may not read, disseminate, distribute or copy this email message or any attachments. Please notify the sender immediately (by reply email or phone) if you have received this email message by mistake and delete this email message, along with any attachments from your system. Email transmission cannot be guaranteed to be secure or error-free, as information could be intercepted, corrupted, lost, destroyed, delayed or may be incomplete. The Sender does not accept any liability for any errors, omissions or viruses in the contents of this email message or any attachment. This email also conforms with the Arizona Commercial Electronic Mailing Act of 2003. Your Privacy is important to me. I do not share your email information with any other party. If you do not wish to network in this way and desire to be removed from my newsletter email list, simply send me an email with "remove" in the subject line (click on the "email Bill" link. You will be excluded from the list, in a few days. Copyright 2007 Bill Duffey. All Rights Reserved.
Please put "remove" in the subject line. NOTE: If your home or property is currently listed for sale with a licensed Real Estate Broker, this is not intended to be a solicitation of that listing. It is not our intention to solicit the listing of another real estate Company. GO TO MY CONCIERGE PAGE FOR A LIST OF VENDORS. PS: I never receive any compensation from any vendor, ever!
LEGAL STATEMENT <please click here to read Regards, Bill Duffey |
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