Wednesday, October 30, 2013
Great 24 hours!
We've had a great 24 hours - a listing that will go active on 11/14 (Lucero's), found a potential rental (Turer/Graham), and have another listing appointment tomorrow (Toon). Thank you all for choosing us to help you with your real estate needs. :)
Tuesday, October 29, 2013
Congratz Sam and Renee!!
Congratulations to Sam and Renee Underwood on their new place! Many blessings on you!
Thursday, October 24, 2013
Chandler Apartment Complex for sale
An apartment complex in Chandler has been offered for sale. At current price of $920,000 it is estimated to yield a 7.5 cap.
20 unit low-density, single level complex comprised of five four unit
buildings with covered parking on the south side of the complex. There is an owned onsite laundry and a
community barbeque area/fenced play area for the children. Additional parking is available at the rear
of the property.
All units are two bedroom/one bath with newer HVACs installed in 2005. At that same time, the roof
was replaced with a new foam roofing system.
20 Two Bedroom Units
644 Square Feet Each
20 Covered Parking Spaces
Five Buildings/One Story
Two Lots Total Area: 29,503 SQ FT
Total Building Area: 12,880 SQ FT
Constructed in 1964
Concrete Block
It would be an easy conversion into an assisted living center and would greatly increase its value.
Please let me know if this property is of interest to you or anyone you may know.
Travis Smith
Keller Williams Northeast Realty
(623)237-2388
20 unit low-density, single level complex comprised of five four unit
buildings with covered parking on the south side of the complex. There is an owned onsite laundry and a
community barbeque area/fenced play area for the children. Additional parking is available at the rear
of the property.
All units are two bedroom/one bath with newer HVACs installed in 2005. At that same time, the roof
was replaced with a new foam roofing system.
20 Two Bedroom Units
644 Square Feet Each
20 Covered Parking Spaces
Five Buildings/One Story
Two Lots Total Area: 29,503 SQ FT
Total Building Area: 12,880 SQ FT
Constructed in 1964
Concrete Block
It would be an easy conversion into an assisted living center and would greatly increase its value.
Please let me know if this property is of interest to you or anyone you may know.
Travis Smith
Keller Williams Northeast Realty
(623)237-2388
Friday, October 18, 2013
Congratulations Tim and Sara Evick
"Practice"
I spent yesterday following up with clients we've done some work for in the past at Sun City Festival. At Ken and Cindy Tuttle's home I saw this. For 15 minutes I was awestruck by this gentleman that described his craft as "practice". He continued by saying he had another two weeks of "practice" until the project would be complete. As I observed him bring more and more life to the scene, I considered what he had said. I had an "Ah-ah" moment. For so many years I have considered work just work. With this simple paradigm shift, I realized all of the projects, communities, teams, relationships and clients I've worked with over the years have been "practice" and preparation for who God has made me today.
The artists on this project are Denise and Terry Smith - They can be reached at Denise.Smith@outlook.com or RTerrySmith@hotmail.com.
The artists on this project are Denise and Terry Smith - They can be reached at Denise.Smith@outlook.com or RTerrySmith@hotmail.com.
Wednesday, October 16, 2013
JUST LEASED!! Congratulations Paticia Huisinga!!
What a great property at an even better value! Great Job Lady! Enjoy that pool!
Please contact me directly for all your real estate needs: Purchase, Sell, Rentals -
Travis Smith
(623)237-2388
travislsmith123@gmail.com
travissmith@kw.com
Glendale Drive Ins
We spent a fun evening at the Glendale Drive In's last night. Great family fun enjoying our wonderful Sonoran evening weather. Check out the link below.
http://www.fandango.com/glendaledrivein_aaceb/theaterpage
http://www.fandango.com/glendaledrivein_aaceb/theaterpage
Monday, October 14, 2013
Good Monday!
So many times I get asked, "why are you doing real estate?" Today is one of those days that makes it an easy decision....
Today, I sat in on a signing appointment for a couple who has purchased 20+ homes over the years and are totally in love with their new purchase. There was a mishap with some documentation and I was able to fix it quickly as to not intrupt the process.
Today, one of our clients found out she was approved for the rental she really, really wanted.
Today I am thankful that my son had his father at his baseball tournament all weekend.
I love what we do....
Today, I sat in on a signing appointment for a couple who has purchased 20+ homes over the years and are totally in love with their new purchase. There was a mishap with some documentation and I was able to fix it quickly as to not intrupt the process.
Today, one of our clients found out she was approved for the rental she really, really wanted.
Today I am thankful that my son had his father at his baseball tournament all weekend.
I love what we do....
Saturday, October 12, 2013
Real Estate Market Update 10.12.13
Article by Deanna Peters
DISTRESSED PROPERTIES (FORECLOSURES AND SHORT SALES)
Distressed homeowners to be “above water” in 12 to 15 months
Approximately 10.7 million homeowners owe at least 25% or more on their mortgages than their properties are worth.
These 10.7 million homeowners represent 23% of U.S. residential properties with a mortgage.
Another 8.3 million homeowners have a loan to value (LTV) ratio from 90 to 110%, putting them on track to have enough equity to sell sometime in the next 12 to 15 months—without resorting to a short sale.
These 8.3 million homeowners represent 18% of all U.S. homeowners with a mortgage.
WHERE THE MARKET IS—NATIONWIDE
Quick Fact: September 25, 2013—the net worth of U.S. households and nonprofits shot up $1.3 trillion (of which real estate values accounted for $626.7 billion) in the second quarter thanks to rising home prices and stock market gains says the Federal Reserve
ClearCapital reports national home price gains
According to ClearCapital’s September report, national home price gains in September picked up by 10.9% year-over-year.
The West leads all other regions with a 19% gain year-on-year, and leads with a healthy 2.9% gain in the last quarter.
This was well ahead of the number two region, the MidWest, which had a 10% year-on-year gain, and a 2.0% gain in the last quarter.
The West is best!
Moody’s predicts strong housing market to continue
Moody’s reported in its monthly ResiLandscape report that the fundamental drivers of housing remain solid. Employers are adding jobs, housing is still affordable and inventories of homes on the market are low.
Moody’s reports that home sales, homebuilding and house prices will all head up this year and strengthen further in 2014 and 2015 as housing helps to fuel the broader economy’s expansion. These positive factors will offset the dampening impact of rising mortgage interest rates on demand for housing.
Barclays U.S Housing Forecasts
Barclays has forecasted an optimistic rise in U.S. housing prices by 11.0%
Additionally, the base case projections for 2013 home price appreciation in Arizona is now 9.9%.
Barclay’s expressed concern that higher mortgage rates might could decrease demand and adversely affect home prices. However, according to Barclay’s “Supply in most parts of the U.S. is elastic enough over the medium run to counter changes in demand due to changes in rates.”
The CoreLogic S&P/Case Shiller Index
According to S&P/Case-Shiller’s 20-city composite index, home prices in 2013 have risen 11.2% through July. This is the greatest year-to-date increase in index since 2004.
However even though the Case-Shiller indices continued to improve, they did so more slowly.
Home prices rose in July by less than 2% for the first time since March but still reached their highest level since August 2008, according to the Case-Shiller.
The 20-city index was up 1.8% in July—12.4% in the last year.
The 10-city index was up by 1.9%—12.3% since July 2012.
The 20-city index and the 10-city index have now improved month-over-month and year-over-year for 14 consecutive months.
FEDERAL HOUSING PROGRAMS / RULES / REPORTS
Quick Fact: At the Federal Housing Administration, which represents about 15% of the mortgage market, the lights will still be on, but the staff will be reduced.
Government shutdown won’t shut down FHA but delays can occur
The Federal Housing Administration (FHA) will not stop processing loan applications during the government shutdown. The U.S. Department of Housing and Urban Development (HUD)’s Office of
Single Family Housing will continue to endorse new loans. This is because the single-family part of FHA is funded through multiyear appropriations.
Unfortunately, FHA’s multifamily operations are funded on a year-by-year basis. Therefore, while FHA will be able to endorse new multifamily mortgages, it will not be able to underwrite them. No condo projects would be approved during the shutdown.
Reduced FHA staffing may cause a backlog of delays after the shutdown.
New single family home sales again on the rise
Sales
of new single-family rebounded in August rising 7% month over month to a
seasonally adjusted rate of 628,000, and were up 16.9% from a year ago,
according to a monthly report from the U.S. Census Bureau released on September
18th.
DISTRESSED PROPERTIES (FORECLOSURES AND SHORT SALES)
Distressed homeowners to be “above water” in 12 to 15 months
Approximately 10.7 million homeowners owe at least 25% or more on their mortgages than their properties are worth.
These 10.7 million homeowners represent 23% of U.S. residential properties with a mortgage.
Another 8.3 million homeowners have a loan to value (LTV) ratio from 90 to 110%, putting them on track to have enough equity to sell sometime in the next 12 to 15 months—without resorting to a short sale.
These 8.3 million homeowners represent 18% of all U.S. homeowners with a mortgage.
“Steadily rising home prices
are lifting all boats in this housing market and should spill over into more
inventory of homes for sale in the coming months,” stated Daren Bloomquist,
vice president at RealtyTrac. “Homeowners who already have ample equity are
quickly building on that equity, while the 8.3 million homeowners on the fence
with little or no equity are on track to regain enough equity to sell before
2015 if home prices continue to increase at the rate of 1.33% per month that
they have since bottoming out in March 2012.”
WHERE THE MARKET IS—NATIONWIDE
Quick Fact: September 25, 2013—the net worth of U.S. households and nonprofits shot up $1.3 trillion (of which real estate values accounted for $626.7 billion) in the second quarter thanks to rising home prices and stock market gains says the Federal Reserve
ClearCapital reports national home price gains
According to ClearCapital’s September report, national home price gains in September picked up by 10.9% year-over-year.
The West leads all other regions with a 19% gain year-on-year, and leads with a healthy 2.9% gain in the last quarter.
This was well ahead of the number two region, the MidWest, which had a 10% year-on-year gain, and a 2.0% gain in the last quarter.
The West is best!
Moody’s predicts strong housing market to continue
Moody’s reported in its monthly ResiLandscape report that the fundamental drivers of housing remain solid. Employers are adding jobs, housing is still affordable and inventories of homes on the market are low.
Moody’s reports that home sales, homebuilding and house prices will all head up this year and strengthen further in 2014 and 2015 as housing helps to fuel the broader economy’s expansion. These positive factors will offset the dampening impact of rising mortgage interest rates on demand for housing.
Barclays U.S Housing Forecasts
Barclays has forecasted an optimistic rise in U.S. housing prices by 11.0%
Additionally, the base case projections for 2013 home price appreciation in Arizona is now 9.9%.
Barclay’s expressed concern that higher mortgage rates might could decrease demand and adversely affect home prices. However, according to Barclay’s “Supply in most parts of the U.S. is elastic enough over the medium run to counter changes in demand due to changes in rates.”
The CoreLogic S&P/Case Shiller Index
According to S&P/Case-Shiller’s 20-city composite index, home prices in 2013 have risen 11.2% through July. This is the greatest year-to-date increase in index since 2004.
However even though the Case-Shiller indices continued to improve, they did so more slowly.
Home prices rose in July by less than 2% for the first time since March but still reached their highest level since August 2008, according to the Case-Shiller.
The 20-city index was up 1.8% in July—12.4% in the last year.
The 10-city index was up by 1.9%—12.3% since July 2012.
The 20-city index and the 10-city index have now improved month-over-month and year-over-year for 14 consecutive months.
FEDERAL HOUSING PROGRAMS / RULES / REPORTS
Quick Fact: At the Federal Housing Administration, which represents about 15% of the mortgage market, the lights will still be on, but the staff will be reduced.
Government shutdown won’t shut down FHA but delays can occur
The Federal Housing Administration (FHA) will not stop processing loan applications during the government shutdown. The U.S. Department of Housing and Urban Development (HUD)’s Office of
Single Family Housing will continue to endorse new loans. This is because the single-family part of FHA is funded through multiyear appropriations.
Unfortunately, FHA’s multifamily operations are funded on a year-by-year basis. Therefore, while FHA will be able to endorse new multifamily mortgages, it will not be able to underwrite them. No condo projects would be approved during the shutdown.
Reduced FHA staffing may cause a backlog of delays after the shutdown.
Monday, October 7, 2013
Sunday, October 6, 2013
Showings! Showings! Showings!
We had a great day yesterday showing homes to Renee and Sam Underwood. Good times!
Friday, October 4, 2013
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