Leif Swanson and I are hosting three great open houses this weekend and I’d love for you to come by or please share this post with your friends.

1) 1821 East Rose Lane, Phoenix 85016. Saturday from from 1pm to 4pm.

There is a neighborhood hidden east of SR-51, walking distance to Granada Park, the Biltmore, with views of Piestewa Peak. I drive past these stately homes on the way to running the Arizona Canal in the morning. The way the streets are configured it is difficult to get back there unless you are meant to be there. As such, the homes are protected from harassing cut-through traffic and other distractions. This is a wonderful and sprawling 2,566 square foot home in the heart of this neighborhood, on Rose Lane. At $398,000, this home is priced aggressively for the neighborhood.

My fellow agent, Leif Swanson, will be in attendance at this house. If you have questions before you go, please call him at (602) 686-3852.

Check out the MLS listing here. Check out the map here.

2) 311 W Glenrosa Ave., Phoenix 85013. Sunday from 1pm to 4pm.

This expertly updated ranch in CenPho is walking distance from Light Rail and convenient to all the CenPho attractions. You can walk to Lux, Pane Bianco, Copper Star and all the shopping on 7th. That’s heaven! You should see the upgrades: triple-pane Pella windows in the living room, a block addition to the master bedroom, with bath and a lush back yard. This 2br/2ba home is a great first home at only $155,000, its roomy and move-in ready.

Check out the MLS listing here. Check out the map here.

3) 1520 West Berridge Ln, Phoenix 85015. Sunday 1pm to 4pm

This mid-Century red brick home morphs into a New Century Masterpiece. Completely upgraded, this home is a collaboration between architects and designers, proving that the best of historic and modern can be brought together to create something truly special in Phoenix.  It is like living in a historic home without all of the hassles of an old home.  The custom designed modern exterior foyer and rear covered patio wall are finished in Brazilian Ipe, a design nod to Ralph Haver and Al Beadle.

Check out the MLS listing here. Check out the map here.

Also see the the virtual tour here.

If you can’t make these times and you would like to get a private showing,  give me a call at 602-456-9388.

Over the last couple years I’ve seen a thousand renovations; aka “reno”, aka “fix n’ flip”.

99% of them are homes that somebody got at a foreclosure auction or directly from the bank. They throw mocha colored paint on the walls, white trim on the doors and baseboards, granite on the counters and some appliances in the kitchen.

These certainly have their purpose, for sure. But I am most inspired by renovations that either “green it up” through efficiency improvements or just have a great sense of style.

Check out this new listing. I’m very excited about it because the owners really took the time to get it right.

Imagine that you are given one mid-century home, a team of architects, designers and contractors. Your job is to modernize the home. Make a statement. Go.

My clients Robin and Russell did just that. They are leading the way in this established neighborhood in Central Phoenix by creating something truly special.

Follow this link to look at the listing. Click here for an extensive list of  renovation details, including architects and designers.

But I want to point out some things to think about if you are thinking of renovating, or if you are in the market and look at renovated homes. This home is a great example because they did such a good job with it.

1) Take your time. The owners got architects and designers out of L.A. to really think through how to turn this traditional red brick home in to something that stands out.

Lesson: Don’t just run in with a can of paint and some cheap marble counter tops. Real estate agents, in particular, notice (and they assume you are hiding something).

2) Add features that add to the home’s presence. The custom designed modern exterior foyer and rear covered patio wall are finished in Brazilian Ipe, a design nod to Ralph Haver and Al Beadle. They found a way to make the home stand out, but that was respectful of the architectural period of the home and the neighborhood.

Lesson: You may not be able to go to such great lengths. But if you are going to renovate, think “how can I complement this home’s history, but add something new.”

3) Think about Space. The architects and designers opened up the flow of the home with a great room and created a nice flow between the kitchen and the living room. This is not easy to do, but it is worth it.

Lesson: With too many older homes, the small rooms make you feel cut off from the rest of the home.

4) Detail, Detail, Detail. People notice when you cut corners. Robin and Russell did customized cabinetry, 24” designer Italian tile and Silestone Quartz Countertops.

Lesson: People are looking to see that you replaced old hardware, fixtures and really thought through what you wanted to do before you started.

5) Don’t forget to Permit. Robin and Russell got every permit needed, from electrical to structural, which means the buyer of this home can feel safe in the work that was done right.

Lesson: So many people do extensive work without getting the city permits required. That can be dangerous and could cause problems for the buyer later on when it is their turn to sell. It can also slow down the purchase.

If you’d like to see this house or talk about your home purchase, call me at 602-456-9388. I’m happy to share.

This Sunday agents for 62 homes are coordinating for massive day of open houses.

Leif Swanson and I are representing a home on the tour 1821 E. Rose Lane (3br/3ba at $398,000). See more about them here. The home will show from 1-5pm.

Please come out and make a day of it.

Below is the map for all of the homes on the tour. And check out this PDF file, Sunday 19th Open Houses, for a list of all 62 homes.

Please spread the word!

Most economists will tell you that the market is driven by how people feel about the market. And how they feel about the market is directly impacted by what they hear in the news.

This is as true in the stock market as it is in the housing market.

So, it is no wonder that people (even those with stable jobs and some savings) are fearful of  buying a new home right now. All we hear is how bad it is and we hear speculation of a double dip, despite the presence of some positive economic news (and the lowest prices and interest rates in eons). For instance, there are more sales of homes right now than there have been since most of 2006, all of 2007 and 2008 and half of 2009. The market is robust.

Now, I’m not going to spin a yarn trying to convince you that the economy is peaches and cream. But there are indicators that the economy is going in the right direction. Jobless claims were down and some businesses are reporting profits or are planning for when they will hire again.

Interestingly enough, at the same time, Americans are sitting on a lot of cash. The US Dept. of Commerce reports that Americans have a 6% savings rate, up from about 1% in 2004.

While it is sad that so many have lost homes, buyers should keep in mind that Arizona has some of the cheapest housing in the country. Prices are hovering just above 2009 levels.

All of this means that we have pent-up demand which is just waiting for some good economic news to spring forward. I won’t pretend that all will be sun and roses, but once you hear a few tidbits of good economic news on the radio, watch as those folks who are sitting on their cash to enter the market again.

I never advocate for trying to time the housing market like the stock market. You should buy or sell based on need and life choices. However, if you are nearly ready to get in to the market, don’t underestimate the benefit of getting in right at the moment before that psychology starts to shift.

For those of you buying, listen to the radio. You will hear the same news that others do. We have the lowest interest rates in 40 years and the lowest prices in the nation. The key point to buy will be before that psychological turn-around.

For those of you who are selling homes, be prepared for buyers to bid low until a few months in to a turn-around.

If you want to get a better idea of what is out there, please give me a call at 602-456-9388.

<begin crowing>

I love when the Wall Street Journal backs me up.

Over the last 9 months there as been a lot of talk about a flood of foreclosed homes that is going to drive prices down.

My position has been that this is not likely because (1) banks are doing marginally better at preventing foreclosures, but more than that, (2) the banks know that they would undercut their own prices if they just flooded the market with homes.

So, they are not in a hurry. They will sell the houses at a pace that does not undermine the prices they can get for the homes.

That is not great for neighborhoods where houses sit empty, but it is good for the market.

And it means that there is not likely to be a second tidal wave of foreclosures.

<end crowing, back to your regularly scheduled program>

I’m hosting two great open houses this weekend and I’d love for you to come by or please share this post with your friends.

The days are cooling off ever so slightly and this is a great way to get an in-person feel for these two lovely homes.

1) 1821 East Rose Lane, Phoenix 85016. Saturday from from 1pm to 3pm.

There is a neighborhood hidden east of SR-51, walking distance to Granada Park, the Biltmore, with views of Piestewa Peak. I drive past these stately homes on the way to running the Arizona Canal in the morning. The way the streets are configured it is difficult to get back there unless you are meant to be there. As such, the homes are protected from harassing cut-through traffic and other distractions. This is a wonderful and sprawling 2,566 square foot home in the heart of this neighborhood, on Rose Lane. At $398,000, this home is priced aggressively for the neighborhood.

Check out the MLS listing here. Check out the map here.

2) 311 W Glenrosa Ave., Phoenix 85013. Sunday from 11am to 1pm.

This expertly updated ranch in CenPho is walking distance from Light Rail and convenient to all the CenPho attractions. You can walk to Lux, Pane Bianco, Copper Star and all the shopping on 7th. That’s heaven! You should see the upgrades: triple-pane Pella windows in the living room, a block addition to the master bedroom, with bath and a lush back yard. This 2br/2ba home is a great first home at only $155,000, its roomy and move-in ready.

Check out the MLS listing here. Check out the map here.

If you can’t make these times and you would like to get a private showing,  give me a call at 602-456-9388.

There is a neighborhood hidden east of SR-51, walking distance to Granada Park, the Biltmore, with views of Piestewa Peak. I drive past these stately homes on the way to running the Arizona Canal in the morning. The way the streets are configured it is difficult to get back there unless you are meant to be back there. As such, the homes are protected from harassing cut-through traffic and other property-damaging influences.

I’m honored to be listing a wonderful and sprawling 2,566 square foot home in the heart of this neighborhood, on Rose Lane. At $398,000, this home is priced aggressively for the neighborhood.

Have a look at the home and check out the MLS listing here. Then give me a call at 602-456-9388 if you would like to see the property in person.

I just like to share with you one of my sources of information regarding the market. This little video clip is from my broker, Jim Sexton, who is describing what is happening in the market. Despite talk of a “double dip” (of which I am skeptical), Jim points to a couple interesting points:

1) Foreclosure notices (banks telling people they are going to lose their house) are down 10% from August.

2) The number of active foreclosure notices is lower than its been since April of last year (about 39,000) county-wide.

3) About 71% of bank-owned properties are in MLS in one form or fashion. In other words, we may be on a path to start clearing the market.

Have a look at what Jim has to say and feel free to give me a call at 602-456-9388 if you have any questions.

I have been inundated over the last week with conflicting market news.

The Wall Street Journal saw the Case-Schiller Index and feared a possible double-dip. The best quote from that article tells the story of why people are waiting to buy: they are nervous from hearing bad news, feeding a self-fulfilling prophesy. “You’ve got a whole bunch of people who are sitting, waiting in the wings to get into house buying because they know it’s cheap, they know interest rates are low, they know it’s a highly subsidized investment,” said Wellesley College economist Karl Case, who developed the house-price index with Yale University economist Robert Shiller. “If they stay out because they’ve become a little bit more nervous, it can mean the whole market moves.”

But at the same time, AZ Central is reporting that people are doing a better job keeping up with their mortgage payments. Fewer people locally and nationally are behind at least 60 days on their mortgage payments. Certainly this is a precursor to a stabilizing in the market.

Then I turn around again and my broker, Jim Sexton is pointing to lower prices in July, partially due to the very small number of “normal” sales (non-foreclosure, non-short sale) in August.  As my real estate mentor, Leif Swanson, likes to also point out, the huge number of super-cheap, cash-only condos that sold recently have dragged prices down, to0.

So, what is one to believe? For me, it all comes down to a couple simple, but true facts.

1) People hear bad news about the economy and they are holding off on that big decision until they feel more confident that their job will be there 6 months from now. This too shall pass –specifically once we get about a month of improving jobs numbers.

2) A home is not the stock market, as pointed out in this great article. If you need a home, these are the lowest prices in a quarter century and the lowest interest rates in 40 years. Don’t buy a home because you think you will make a killing tomorrow. Buy because you need a place to live and it is better to pay yourself to live there than a landlord.

One of the things that I like about being a real estate agent is the tough code of ethics.

It is true that some agents play fast and loose with this. I’ve had one particular agent here in town (who was later profiled on “3 on Your Side”), whose repair contractors painted over termite damage and did not do the work promised in the contract. This guy had so many foreclosed homes on his roles, that he could not handle the details.

Anyway, the Real Estate Commission governs how an agent advertises themselves and even what incentives they can give clients.

This is all there to protect the home sellers and home buyers from people who know the rules of the road better than they do. Nobody wants to be taken advantage of by an agent. Buying a home is too big a deal.

So, I’m happy to see that the state (due to federal initiative) now requires mortgage brokers to be licensed. One of my broker friends was complaining earlier this year that she needed to take the test and be licensed. But she agree with why.

Check out this article in the Republic for more. This article actually gives me hope for our future housing market here in AZ.

Some really interesting points:

• “So far, 4,336 people have applied to be loan originators in Arizona and 2,413 licenses have been issued.”
• “Licensing advocates tried four times over a decade to get lawmakers to pass the new requirements.” So, there is our legislature again, protecting the home buyer!
• “Arizona ranks among the top 10 states for mortgage-fraud cases, according to the FBI.”