Metro Phoenix's housing market is showing signs of a real recovery: higher prices, more regular home owners and buyers, and fewer foreclosure and short sales.
The market's rapid changes, peculiarities and frustrations draw many comments from homeowners and people in the real-estate industry. Here is some recent correspondence from readers:
I've been trying to sell my house for four years. Anyway, I listed my house (again) in June, except this time my agent was far more optimistic, and our asking price was far more reasonable -- that means I won't end up owing money but not making money. Within a week, I had a full-price offer and accepted it. I was happy until the appraiser came in, undervalued my home and got the deal canceled. To keep and stay in my home has not been easy. I cannot see how the appraisal process has any value. I'm relisting.
-- Jan Paulson
Realtors should allow their client to decide if the price is right after they show the property. Many Realtors pull up the MLS sheet; look at square footage, price, lot size and commission. If (real-estate agents) don't like the commission, they throw the listing away. The buyer never gets to see it or view the property. What business allows the sale person to determine the sale price?
Also, who really made the profits from the housing crash? How come no one went to jail?
-- Ralph Block
Have you researched how sellers of short sales are asking buyers for a side offer for the appliances, window treatments, water softener, and other items that do not convey? Many buyers need to overbid for these items in order to get their original offer submitted to the bank. This side offer is an out-of-escrow offer and is cash in the seller's hands. It is not illegal. However, the seller chooses which buyer's offer to submit. We are new to the Valley and a traditional well-qualified buyer. We have lost bids due to the side-offer issue. This doesn't seem right, does it?
-- Ryan Hall, discouraged buyer
My girlfriend and I just bought a new Pulte house because the used housing market didn't have any single stories available in ZIP code 85085. We also didn't want to compete with any investors since we have to make offers with a 30-year conventional mortgage instead of cash. With interest rates so low, we were able to get a lot of house.
-- John Stafford
We have had a four-bedroom, three bathroom house in Ahwatukee on the market since May 14. We did have one offer that was $25,000 less than asking price, and they wanted our appliances. We countered $5,000 because our washer and dryer are brand new. We never heard back from the potential buyers or their Realtor. Since then, we have had about three dozen showings and no offers. Other Realtors constantly say our house is beautiful, clean and shows well, but they think it is overpriced. The inventory in Ahwatukee is very low.
Our house was completely remodeled in 2006, and we paid $440,000. We are selling for $350K and are not underwater. My husband was transferred to California, and I want to get the kids out there before school starts in late August.
When Realtors say our house is overpriced, is that really a cover for a reason why they don't really like our home? I can't understand why it is not selling. I don't really believe in open houses. What other way is there to market a house?
by Catherine Reagor - Aug. 10, 2012 The Republic
The market: Views from the trenches
Reuters: Business News
National Commercial Real Estate News From CoStar Group
Latest stock market news from Wall Street - CNNMoney.com
- ► 2017 (51)
- ► 2016 (145)
- ► 2015 (146)
- ► 2014 (102)
- ► 2013 (395)
- Last days of the Borgata
- LifeLock reveals finances pre-IPO
- Home prices rose in July in 20 major US cities
- Radar Logic: Home Prices Hit Peak in July, Distres...
- 34,000 in Ariz. get mortgage aid
- Phoenix-based Vestar buys Calif. retail center for...
- Phoenix-area rental homes a red-hot commodity
- Home-related sales through the roof
- New US home sales edged down 0.3% in August
- Attorney General sets 3-year foreclosure plan for ...
- Top 10 things to know about Social Security
- Understanding Social Security benefits
- Maricopa County homeowners likely to see property-...
- Reagor: Building of homes slows a bit
- At 40, McCormick Ranch still desirable place to li...
- Fountain Hills mulls giving new life to avenue
- Peoria entertainment/hotel plan closer to reality
- Residential lot coverage debated in Arcadia
- Arizonans may not feel closure of local banks
- Proposed Scottsdale condo plan gains height, densi...
- Luxury retirement facility's sales rise
- Audit: Maricopa County housing-agency woes continu...
- Foreclosure starts fell on annual basis in August ...
- Housing prices up in most NE Valley communities
- Housing key part of SkySong's 'secret sauce'
- Valley in top 10 in US for foreign investors
- New tax on home sales is overblown rumor
- Home construction on uptick in Scottsdale
- Building set for approval - USATODAY.com
- Furnishings firm takes over ex-nightclub site
- The market: Views from the trenches
- City closer to Waterfront apartment-plan OK
- Scottsdale council approves permits for downtown b...
- Metro Phoenix a seller's (and landlord's) market
- Scottsdale home prices up 9.26 percent over a year...
- Valley bankruptcies keep plummeting
- IRS pays Swiss ex-banker, whistleblower $104 milli...
- Baby Boomers have many options for retirement plan...
- Proposed condo plan gains height, density
- Cottonwoods considers adding assisted living
- Scottsdale council approves contentious Echo at Wi...
- Phoenix-area home-price dip called a 'natural reac...
- City Planning Commission draws criticism
- US Home Prices Rise in July by Most in 6 Years - D...
- 2 large Phoenix warehouses being built
- City expands affordable housing - USATODAY.com
- Entertainment hub progresses - USATODAY.com
- City hopes Chandler site will be revitalized - USA...
- PV commission member resigns over resort redevelop...
- Top 5 lenders: $500M spent in Ariz. - USATODAY.com...
- 6,900 Scottsdale apartments in pipeline
- Home prices notch first 12-month gain since 2010 -...
- Advice for Arizonans on brink of foreclosure
- New-home sales rise to match 2-year high - CBS New...
- Beach-club complex votes on permits, licenses are ...
- US home sales rose 2.3 percent, sign of recovery
- Toll Brothers Posts Strong Growth - WSJ.com
- A challenge to finish preserve - USATODAY.com
- Valley agent did well by focusing on SHORT SALES -...
- New Mountain Shadows resort plan consolidates buil...
- ARMLS buys researcher
- Mesa senior-living complex will be based on Tempe ...
- Home prices up in 5 areas - USATODAY.com
- Newest numbers don't cast 'shadow'
- Run-up in home prices slows - USATODAY.com
- Fannie Mae posts $2.2B net gain for Q2 - Yahoo! Fi...
- Land purchase for theater expected to finalized so...
- ASU's SkySong will add residential space
- Reagor: New-home market projections promising
- 6 Phoenix-area apartment communities sold
- Fannie and Freddie principal cuts barred - USATODA...
- Phoenix expedites building process
- Plan for luxury homes at resort stirs controversy
- Mystery bidder gets 275 homes - USATODAY.com
- Meritage earnings rise - USATODAY.com
- Mesa minister gets maximum sentence in fraud
- Split up banks, says builder of Citigroup - USATOD...
- New home sales fall to 5-month low in June – USATO...
- GOP rips Geithner about LIBOR - USATODAY.com
- Historic homes at risk after they're foreclosed
- 100 more lots sold in project - USATODAY.com
- 4333 Building plan still viable, extension sought
- Census estimates: Phoenix remains sixth-largest ci...
- SIGNS OF HEALTH - USATODAY.com
- Subdivision is proposed - USATODAY.com
- Reagor: Home-listing group game for some fun
- After 6 years, Scottsdale is settling state-land c...
- Foreclosure Crisis Hits Older Americans Hard - US ...
- Government program to help avoid foreclosure
- Property-tax bills may rise in Paradise Valley sch...
- Construction, housing sectors face challenges
- ▼ September (91)
- ► 2011 (704)