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 April 2008 from Bill Duffey RE/MAX Excalibur 480- 585- 2904 UNDER CONSTRUCTION... Well, the Buyer's Market continues in full stride. However, there are some signs that homes are starting to sell. Listings are DOWN, from last year - a very good sign. Sales, unfortunately, are also down. However, last month almost a thousand homes/condo's sold in Scottsdale! (See the charts, below.) This is the time of the year that our winter friends start to buy. Historically, those Johnny-come-lately folks spend all winter educating themselves and then buy in April, May and into June, before heading home. This year, foreign investors are likely to show up this Summer and Fall, looking for values. If you have not heard, Icrossing acquired another firm and will be adding some 365 jobs to their Scottsdale Airpark headquarters. That should increase housing demand, in late 2008. Inventories are still extremely high in the North Scottsdale area and if you are a Buyer...BUY! This summer, however, will not likely improve the Seller's situation. Buyer's have so much inventory to look at, that they are having a difficult time making up their minds. Price is the driving factor! Bottom line, we have to shed some of this excess inventory before we return to a "balanced" market. That is all anyone wants...some BALANCE. Great news for Buyer's and not very good news for Seller's, I am afraid. You can thank all those "investors" in 2005 and "free" money lenders. We all liked the dramatic increase in value, but if you have to sell, it is the toughest market I have seen. Moral: Don't sell into this market, unless you have to! If you do, be very realistic about your ask price. Now, is the time to BUY! Listings are below last year's level, but sales are down. Ask prices are coming down, as the length on market drags on. Home prices Valley-wide are getting 91% of the ask price. Also, 1 of every 95 homes in Arizona are now in foreclosure and that will lead to further decreases in appraised values. Those that have reduced their listing prices are selling their homes and realizing excellent returns on their investments. Far above historical rates (see chart, below). Those who are trying to ride it out, thinking it is the market of 2005, will not make it. They will have to try again, this Fall. Hope you find this newsletter to be informative. As you know, I don't mix my words when it comes to this market. Let me know what you think! I would appreciate your feedback. ***************************** Scottsdale activity
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********************************* $1,750,00 will list on May 5th ***************
********************************* Other Land Listings **************
Call me for more information! 4.39 Acres
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*************Water*************** We have a 5 year supply in our lakes and reservoirs. NOTE: Arizona uses approximately: 7.24 million acre-feet of water. One acre-foot = 325,851 Gallons An Acre-foot is enough water to serve the needs of a family (of five) for one year. ************************ ************************************************************* Real Estate "Buyer's" Agent A real estate Buyer's Agent represents the consumer who is purchasing the property in the real estate transaction. This agent owes full fiduciary responsibilities, duties, and loyalty to the real estate buyer. The Buyer's Agent works for the buyer client and has the clients' best interests in mind throughout the entire real estate transaction process. ****************************** Miscellaneous ************************************************** Did you know that one of the most dangerous places in the world is your home? Many accidents are caused, especially when children get into things that they don't understand. Electricity is one of those dangers. For example, did you know that you could insert an ordinary key ring through the holes in an electrical plug prong? That quick step will make it almost impossible for a child to insert the plug in a wall outlet. Easy, isn't it? Of course, as children get older, they can outsmart this safety precaution.As you get older, you may be tempted to try something dangerous like guessing about the value of your home. Or making improvements without analyzing how they will benefit (or cost) you. Don't take a chance. Call on me before you do anything hazardous to your financial well being, won't you? You'll be glad you did! If you get into a job that's over your head, call a professional. 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 |
Send e- mail to wmduffey @ yahoo.com - questions or comments. >>> |
