There are currently 10,479 active listings (single family homes) for the Phoenix Real Estate Market. For the month of May there where 2561 new listings, 1260 pending sales and 984 sales. The current absorbtion rate or inventory of homes is currently 10.6 months for single family homes in Phoenix. The average sale price for a Phoenix home in May 2008 was $261,272, compared to an average sales price of $260,111- showing a ever so small increase, but the good news- it did not decrease.   MORE......... 06/23/2008

Multiple Offers?  Bidding Wars?  Cash Sales?  Oh My! Surely I refer to the good ole days of 2005, right?  Not exactly.  Try 2008. How do I know that we have either reached or are very near the nadir of the Great Phoenix Real Estate slump of 2007-2008?  Well, I don't.  Unlike the "experts" who like to think they can accurately forecast our market's health, I offer no promises as to the month, week, day and minute that we hit absolute rock bottom.  I am but a simple Realtor.  I do know one thing.  When it does happen, there will be no starter's gun fired into the sky signaling that it is time to BUY NOW!  We will only know with certainty that we hit the mythical bottom when looking back from a vantage point of 3-6 months past the mark.  That fleeting moment in time will last about as long... 06/23/2008

Arcadia 9, McDowell Mountain 0 (Minors All-Stars) In continuing the tradition that I started during the the Angels regular season, I am providing these game summaries and highlights so that the players have the opportunity to see thier names in print, and can share the game accounts with their family and friends who may have missed the games. On another scorcher of an afternoon where the temperatures hit 113 degrees in Phoenix, the Arcadia All-Stars took on the McDowell Mountain All-Stars in second-round, lower-bracket action of the District 6 9-10 Year Old All Star Tournament. Where pretty much everything that could go wrong did go wrong on Saturday night, Monday night's game was the complete opposite.  The Arcadia All-Stars played their hearts out and easily defeated McDowell Mountain... 06/23/2008

Doing your laundry: a tale of increasing your cash in a small income property. I spoke with a client looking to sell his two fourplexes in the near future.  Part of my due diligence, as an seller representative, in establishing the value of a property I discovered how the owner is loosing quite a bit of cash flow from his property and that loss decreases the property value.  This has to do with additional income generated through secondary income of the rental process; laundry room income.  In this case there was a laundry lease almost 7 years long, 6 years and 8 months to be exact.   This would not be so bad but the agreement is a loss for the owner.  He only receives 25% of the laundry revenue. In most such cases the owner usually gets 50% of the revenue.  I looked at his income and t... 06/23/2008

A client was really excited to see the house close to KierlandCommons in North Scottsdale with a huge lot and a fabulous garden; it had an elegant interior as well, all looked spectacular on the pictures… I looked at the pricing archives of the property and found out that the price was already reduced $150k since 2007 and the home has been on the market for more than 300 days.  In such an attractive area, this was suspicious; even in this market. A clarification to our question was revealed as soon as we opened the door… The first thing you could see in the immense space filled with soft light filtered through a raw of windows just under the ceiling, was the travertine floor where every other tile had high corners.  In other words the person whom put down the tile did not keep them leve... 06/22/2008

Paczki, bread, baked sweets, Polish deli cuts, sausages, cheeses, chocolate, are all on the menu and shelves along with groceries from Poland, many of which I could not live without, like Polish pickles which are simply divine on fresh crusty bread with good butter.  Though they don't make this simple wonder they do make other sandwiches using the bread they baked, Polish cheeses and deli cuts.  The pastries are very good indeed with a less sweet more European flavor.  There is some seating inside to enjoy the food and the company.  The number of Polish delis, bakeries an stores is growing along with the Polish community which has found the freedom of the Western USA too alluring after decades of marination in Chicago, Jersey and other states. Europa Pastry cafe has been in the valley a... 06/22/2008

This is not a new phenomena but its worth mentioning.   The abundance of short sales out there is extra ordinary.  They are everywhere and in every price bracket and property type from starter homes to multi-million dollar properties to income multifamily properties. There is a reason they sit around, at least most of them, for what feels like, years. To give you an example of the frustration we face with short sale properties, and this is even before we get to submitting an offer.  There is a property on the market which looked interesting and matched one of my clients needs.  It is marketed for $320,000.  A short sale.  The price was set by the seller and is subject to lender approval.  Okay, that's normal.  So we call the other agent to get some more information and find out if its s... 06/22/2008

You have decided to buy a new home.  Will you benefit from hiring an REALTOR to represent your interests?  Should you use a REALTOR to buy a new home? I believe you will benefit does, but it depends.  You can only gain by having representation, someone on your side to look after your interest.  First of all it cost you nothing to be represented.  Just as with resale home buying, the compensation for your agent is paid by the seller or builder in this case. Some will say that you will get a discount when you're unrepresented. I can see why a builder would say this, but its rarely true in the net result.  Its in their interest for you not to have representation.  For one thing you're unlikely to question much on the contract, you're unlikely to do most of the things a competent agent woul... 06/22/2008

The Heard Museum in Midtown Phoenix exhibits the art and history of the Southwest.  Its rooms are filled with over 39,000 works of cultural and fine art and is a reservoir of the Native peoples.  While the collection is beautiful and often spectacular for those who don't particularly like southwest art its still worth visiting the museum for the architecture, the positive feeling you will get by walking the garden spaces, enjoying the sculptures and listening to the flowing water.  Please click here to continue reading the article and see more photos. 06/22/2008

Desert Foothills 10, Arcadia 0 (Minors All-Stars) In continuing the tradition that I started during the the Angels regular season, I am providing these game summaries and highlights so that the players have the opportunity to see thier names in print, and can share the game accounts with their family and friends who may have missed the games. I try really hard to keep these positive to encourage the kids, but unfortunately, last night there wasn't that much positive to write about.  The evening went something like this: On the first day of summer and the longest-day of the year where the temperatures hit 115 degrees in Phoenix, the Arcadia All-Stars took on the Desert Foothills All-Stars in first-round action of the District 6 9-10 Year Old All Star Tournament.  Playing began at sundown... 06/22/2008

WeKnowUrban.com is taking reservations for its next high rise and loft condo tour to be held the second Saturday in July (8-12-2008). The tour will cover downtown Phoenix.  We hope to get another tour of 44 Monroe High Rise, Portland 38 Lofts (new to tour), Artisan Village (new to tour) and Stadium Lofts (new to tour).  Note: 44 Monroe is a little tricky to show because the sales office is not typically open on a Saturday but with as large of a group as we'll have hopefully the sales staff will accomodate us. Anyway, we always have a really good turn out of urban living enthusiasts.  It's great to see the growing interest in living on or near the Phoenix Light Rail, but with gas prices where they are no one should be surprised. If you'd like more information about our tour or if you'd l... 06/21/2008

The hot niches in Phoenix high rise and loft urban living are rentals and distressed properties. During the boom many investors preferred buying high rise condos instead of single family detached homes because the construction of high rise takes much longer (three to four times longer) so there is the potential for so much more appreciation prior to the investor taking possession of the property.  Thereby the investor would walk into tons of profit with little money out of his or her pocket. That was the theory anyway. Reality turned out to be much different. During the years it took for the high rises to get built the market slowed, then stumbled and then fell.  Buyers were then faced with walking away from ten or twenty percent downpayments or move forward with the purchase.  I think ... 06/21/2008

Short Sales, Auctions & Re-Po's, Oh My It's a daunting task for the buyer who wants to take advantage of this market. Everything is on sale but it’s hard to know which property offers the best value. The first thing buyers need to know is the differences between the different bargain opportunities. Let this be an introduction to the most common discounted options. If you'd like to know more, drop me a line or give me a call... I'd be glad to go over these items in greater detail. Let's get started with some background information. There is an abundance of property that has made its way into the market in atypical ways. Some are homes that were started but could not be finished. Others are homes that have become unaffordable to the owner. Regardless of their path, these properties have ... 06/20/2008

Contemporary Home in Phoenix Arcadia This home is located on Exeter in the beautiful and architecturally bountiful Arcadia neighborhood in the East Camelback Village of Phoenix. This is a wonderful example of a contemporary home in Phoenix that just simply melts into the surrounding landscape.  The mountain peak you see in the back is of Camelback Mountain. Take a look at the Frank Lloyd Wright Jr. home in Arcadia, for another great architecturally interesting home in Phoenix. Read more here. 06/19/2008

While many Indian restaurants may often use poor quality ingredients that are camouflaged in spicy sauces and most of them have pretty identical menus, Bombay Spice Grill and Wine stands out in Phoenix Arizona as a unique Indian dining experience. The menu is very different than traditional Indian restaurants. And even more different are the ingredients. There are no added sugars, butter, gee or cream. All of the dishes are prepared witha very minimal amount of 100% extra virgin olive oil. There is no added sodium. Traditional Indian spices are used. And besides the menu and ingredients being different. the restaurant is charitable minded with a portion of all proceeds going to breast cancer research. Located at 7000 N 16th St in Phoenix, you can call 602-371-0111 or visit their website... 06/17/2008

Here is a great way to beat the heat in the Phoenix Arizona area. The Arizona Falls Hydroelectricity Project located at the northeast intersection of 56th and Indian School Road has an intriguing area called "Water Works at Arizona Falls". This is a unique "water room" surrounded by waterfalls on three sides. The center melds a power generating station with a dance floor and educational center. Before the days of air conditioning this human created waterfall was a magnet for local Phoenix residents to come and cool off while they visited with friends. Over time the area was sort of forgotten but then in 2003 it evolved to become the people friendly spot it is today. It is open 24 hours daily. For more information about this interesting Phoenix spot check out their website. 06/17/2008

If you are in the Phoenix Arizona area and looking for something different in the way of a dining location, check out Zest located at 4117 N 16th St in Phoenix. Their menu is eclectic and upscale. With candlelit tables and edgy art on the walls the place is relaxing. There are menu items that are intriguing such as eggplant cheesecake with tomato sauce as a starter. Other interesting menu items include marinated duck on mashed parsnips with orange-blueberry-mint sauce. Closed on Mondays and serving dinner only this may be a place to try. Call 602-274-7442 or visit their website for more information. 06/17/2008

We love this building. Its beautiful and it looks well built. This is one of the earlier such projects in Phoenix and to date looks very good. Its a timeless design which should withstand the test of time. Artisan Lofts on Osborn are and award winning loft community just east of 7th St and Osborn. These were completed in 2001. This residential building is one of the more unique and beautiful buildings in Phoenix. It overlooks the Phoenix County Club just to the south in Midtown Phoenix the heart of the Phoenix valley. The building is 40 one and two story residential lofts ranging in size from 1,000 sf. to just over 2,700 square feet. Read the rest of the profile and see units for sale. 06/16/2008

If you didn’t see that office building in the back it would be hard to place this house.  In fact its still hard to place it.  It could be anywhere, but its not.  Its and old home which looks to be built out of adobe; something from the 19th century or early 20th century. It’s not any specific style, it does not fit anywhere in the historic styles found in Phoenix; it’s unlike any I’v seen here.  Adobe built with hints of scandinavian design and southwestern elements.  Located in Downtown Phoenix of all places surrounded by offices and maybe one handlful of houses in the area.  I can see this place as small tavern, a local type restaurant, I see lots of potential and reason to keep it right where it is and in this condition more or less; with only the mechnicals, the presevation and cle... 06/16/2008

On another real estate portal a website visitor asked if Downtown Phoenix will get cleaned up since despite the attractive condo and loft projects there are slums surrounding them. I think it best to speak with the people already living there, how they feel about the lifestyle and how they are affected by the present, but disappearing slums.  The thing is, you can actually meet residents in the streets, in the cafes and parks unlike in suburbia where you’re more likely to get honked at by your neighbor or maybe you’ll meet them sometime while both of you are getting the mail. Faith?  I don’t think you need faith to see what downtown Phoenix will become.  The money is coming and more is on its way.  Remember that the downtown renaissance is in its infancy.  Each time I go there, there ar... 06/16/2008