scottsdale real estate crystal ballI sure wish I had a crystal ball.  There are so many different opinions out there, and I'm talking about trusted individuals that I look up to for their wisdom.  Yet they all have different views of the real estate market.

The Real Estate Predictions

I can't remember if it was our own National Association of REALTORS (NAR) or a large real estate publication that told us we would see a recovery in the 3rd quarter of 2008.  That sure didn't happen.  They pretty quickly changed their prediction to the 4th quarter which didn't ring true to me because in the Scottsdale area our 4th quarter is always slow due to winter and the holidays.  So when I read that I wasn't convinced and my gut feelings were correct.  We are still seeing ever declining prices and…

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UPDATE:  The Topix website no longer allows guest editors, which I think is a real shame.  This was an online local news source for all different towns and areas.

woman in bed on her laptop reading scottsdale news stories with her cup of cappuccino

In doing searches for different towns I've noticed that Topix always seems to come up in the search engines.  After reading another real estate agent's blog posting on the subject from the popular real estate portal called Active Rain, I skipped over to the Topix website and joined as an editor for the city of Scottsdale.

You can read the latest Scottsdale news, read some posts on Scottsdale real estate and join in on forums for local or national news items.  I'm thinking of joining up as editor of a couple of other towns although they already have editors (there can be multiple…

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Most sellers do not understand the marketing aspect of their properties.  They don't understand that the biggest reason their Scottsdale real estate will sellScottsdale real estate agent is because of the MLS (Multiple Listing Service) and the correct price.  They expect other forms of marketing but don't know how these methods work and what they're really used for.  I'm going to explain some marketing tools to debunk the myths.

The MLS (Multiple Listing Service)

I would get my home listed on the Arizona Multiple Listing Service (ARMLS).  This is the reason most listings will sell.  Most buyers will use a Scottsdale real estate agent to purchase their next property.  Because the MLS is a system of shared property listings, once the buyer chooses the agent they're going to…

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real estate fortune tellerI would never expect a buyer or seller to do something I wouldn't do.  It is a confusing market right now.  It has been a Buyer's Market for some time and prices continue to plummet in most areas.  This makes it difficult for buyers to make a decision to buy now or hold out until the real estate market hits bottom.

How do you know when we've reached the bottom?

I've been selling real estate since 1983 and I don't know when that elusive bottom will occur.  Some say the 4th quarter of 2008 will show recovery but that's a slow time in the Scottsdale real estate market even in a good year.  So that doesn't ring true to me.

Many others feel that after the election people will start to feel more comfortable and the market will slowly start its…

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UPDATE September 2017 - This is an older post that still holds true today.  In fact, when I set appointments to show homes I'm surprised at the amount of small, independent brokerages that keep popping up.  The brokerage I am currently with, HomeSmart, is a nationwide franchise that started in Scottsdale, Arizona in 1999.  It is a newer concept office that is high-tech and agent-oriented. Most of the agents at HomeSmart are very experienced.  Even though HomeSmart is not a training office, our staff offers constant meetings, seminars, and training opportunities so agents can keep up-to-date with today's real estate market and technology.

the entry foyer to HomeSmart in Scottsdale

I just read a blog post (from Bloodhound Blog) about an article in Consumer Reports that stated consumers aren't…

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I network with other real estate professionals on several different real estate forums and communities and I read through all of the real estate publications I receive people shouldn't blame real estate agents for the bubble burstingas being a member of 3 separate real estate organizations I belong to.  I have read a couple of articles that upset me with their implications.  These articles state that we, as real estate agents, need to shoulder some of the blame for the current state of short sales and foreclosures, meaning the buyers we worked with that are now losing their homes.

I'm sure there might have been some unscrupulous agents that were in cahoots with bad mortgage companies that were working together to crank out one bad loan after another.  But with the surge in foreclosures, I truly don't think this kind…

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So many buyers call me asking me for a list of foreclosure property or ask about short sales thinking they're going to get a real deal.  I try to explain to them how it orland park short sale signworks and the fact that no one is guaranteed a "deal" when purchasing one of these properties.  In fact, I've seen many foreclosed and short-sale properties where the bank won't budge on price and the prices are simply too high for the condition of the property.  On the foreclosed property I handled in Scottsdale, the mortgage holder was ready to reduce the price right when we got an offer.  That fact made the lower offer more acceptable to the bank since they were thinking of reducing it anyway.

Banks don't always understand the current Scottsdale real estate market - or maybe they…

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orland park investment properties can make moneyI rarely cite other blog posts even though I read quite a few and many of them are good.  But I usually have enough to write about so don't need to talk about other people's blog posts.  However, once in a while I find a gem that moves me.  I recently read a post about Real Estate Speculators Establishing Bottom-dollar Price for Lender-Owned Homes in Phoenix written by Greg Swann of Bloodhound Realty.  That's not even the whole post title.  Of all the good blog posts I read, why would I share one talking about the Phoneix market, since I work in North Phoenix?  I don't think this particular agent works in my area so I'm not worried about it.  Phoenix is huge!  

The inventory of available properties far outweighs the number of available buyers.  And…

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chicago short sale condominiumI am seeing more and more short sale listings as 2008 continues on it's slow course in Scottsdale real estate sales.  These listings are competing with the many other real estate listings that are being sold by home owners that want or need to move.  In some cases short sale prices and foreclosures are now being used as comparables by appraisers.  I've been on both ends of short sales.  I had a short sale listing and have presented buyer offers to several short sale listings.

I will talk about my short sale listing that was a Scottsdale condominium for sale.  This unit was owned by an out-of-state seller that had only seen the condo once.  It was a family investment and a divorce caused the need to sell.  This condo was only a few years old.  There had…

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orland park real estate newsI  haven't posted for a while because we've been busy with our monthly real estate newsletter.  We have been experimenting with different formats and have been forming a team of different real estate service providers that are sponsoring the newsletter titled Classic Dream Team, Eye-on-the-Market News.

This month's issue has our Featured Scottsdale real estate Listing and a list of market statistics for six of the areas we serve (Carefree, Cave Creek, Fountain Hills, Scottsdale, North Phoenix, Paradise Valley), comparing home prices from 2006 to 2007 and showing the increased or decreased percentages.

We also have a new feature called Ask The Experts titled "The Math Might Be in Your Favor."  We have much more information and it's not just real…

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