Scottsdale Real Estate Blog - Real Estate

Scottsdale Real Estate is Better for Buyers

I remember two or three years ago working with some Scottsdale home buyers that were making full-price offers on properties and still losing out. I lost some of these frustrated buyers who decided to wait until the market slowed down.

That time is now here. Scottsdale home sales are down from last year. In some areas, there is double the inventory available. Although it doesn't seem to have affected prices yet, I am seeing a price reduction trend from current listings that have not sold, some having been listed for months.

This is bad news for home sellers in Scottsdale and other places in the Valley, but if you're thinking of buying this might be the time to do it. Not only are we seeing a general downturn from the record years we had witnessed,…

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Upswing In Pre-holiday Scottsdale Real Estate Activity

Most years I pretty much have a vacation the weeks prior to the winter holidays. However, I have had an influx of Scottsdale real estate showings right up to the Christmas weekend. That's a good sign.

For buyers, you still don't have a huge amount of competition and if you're thinking of buying a house soon, you really should be out there looking. Some good Scottsdale homes, condos, and townhomes have been on the market for a while and sellers are getting anxious. If you wait until Spring to buy you might not get as good a deal as you could now.

Use the free MLS search for properties in your price range and with your amenities. Even better, sign up for the Automated Home Finder Search that will send daily updates to your e-mail. Search once and…

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Latest Real Estate Article Featuring Judy Orr

I was published again in the Southtown Star in the November 12th, 2006, issue in the Real Estate section. The title of the article was "Be Wise When Making Your Next Move." The story was about how you should prepare before moving, especially if you have a property you need to sell first. Most of the articles I've been interviewed for have been online on the Daily Southtown's site but I couldn't find an online version of this one.

It's a tough decision on what should come first, the sale of your current property or the purchase of the new place. Personally, I would want to sell my home first or at least prepare some kind of contingency financing, which is what I did when I moved 3 years ago.

Maybe it's because I lost my "dream home" (at the time)…

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First Time Scottsdale Home Buyers Need Extra Help

For a time in my long career, I was helping a lot of first-time home buyers. Lately, it has been mainly move-up buyers but I recently got a call from a hesitant first-time buyer just starting the process of possibly purchasing a home. It reminded me of the days when new buyers were the largest segment of my home buying clients.

I've always enjoyed working with first-time buyers, whether they were very excited to buy a property or if they were nervous and hesitant. I never push buyers and want to make sure they're well informed and are comfortable with their decision.

Even some experienced buyers need updating to the current Scottsdale real estate market because many things have changed since when they bought previously.  For example, many…

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Scottsdale Real Estate Market Facts 2006

As a seller in today's market, you might be questioning whether the news about the real estate downturn is a bunch of hype that gives your agent an excuse for your home not selling. I subscribe to a newsletter by an Association of REALTORS, of which I am a member.

In one of the articles, it states "Second quarter home sales are down 6.1 percent."  That doesn't seem like a big number, but it's never good when sales are down for Scottsdale real estate in any month from the prior year.

This just reiterates the fact that as a seller of Scottsdale real estate, you need to make sure your property is priced correctly for today's market and it needs to be at top condition in that price range. Why? Because with fewer buyers looking and more homes on the…

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Real Estate is Booming in Scottsdale in 2006

I've been so busy I haven't had much time to post in this blog.  All of my Scottsdale real estate listings have sold as the market in the area is very active.

If you currently have a Scottsdale home for sale that is priced in the median price range or less for your area and you still haven't received any offers then you need to rethink your price.  However, price isn't always the answer.

If your agent has made some suggestions on cosmetic fixes/repairs that would make your property more appealing you might want to tackle some or all of those items.  I can't tell you how many times a Scottsdale home seller could have received more money if they just made some cosmetic changes.  Even with the changes they would have sold quicker and netted more…

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Scottsdale Second Home Sales Hit Record

Four out of every 10 real estate transactions were second-home sales for vacation, part-time living, and/or investment purposes, according to an annual report put by the National Association of Realtors® (NAR). These types of sales hit records in 2005.

Two surveys showed that 27.7% of properties purchased in 2005 were for investment purposes and 12.2% were vacation homes. Many second home purchases are not really a 2nd home, but a 3rd, 4th, 5th, or more because of good investment returns. What I found interesting is that the median distance of a vacation home was 197 miles from the primary residence, and 47% were less than 100 miles away while 43% purchased 500 miles or more away.

In Arizona, a lot of people in the valley, like Scottsdale, will…

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Scottsdale Real Estate is Active

It seems like it was kind of a late start this year but I have personally been super busy since right after Easter.  I just sold a listing in Scottsdale in one day!

If you have a property on the market and it continues to sit with few showings and no offers, you now need to seriously consider reducing price or fixing the property up to show its best at the price you currently have it at.

This might be the busiest time of the year so if you have your place priced too high it might be too late when you finally decide to reduce.  Your listing might become "stale" and if it was priced correctly in the beginning it might have sold for more than it would if you become desperate and lose out on the active market time.

I've seen time and again that…

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Using Your IRA or 401(k) for a Down Payment

Sometimes it seems like there is just no way you'll ever be able to afford to purchase your first property in  Scottsdale, Carefree, Cave Creek, Fountain Hills, Paradise Valley, or another Phoenix area. As prices increase, the dream of homeownership drifts farther away.

There are many different rules and ways of obtaining financing and/or funds. Here are two you might want to consider.  Please consider the date of this post and double-check with your IRA or 401K provider to make sure what the current rules are.

1. If you are a first-time home buyer you are allowed to withdraw up to $10,000 from your IRA without penalty. You will be taxed on the withdrawal, unless you have a Roth IRA, as you were already taxed on those contributions.

2. You'll…

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Scottsdale Real Estate Buying Trend

Over the past week or two, there has been an influx of activity with my listings and I've had 5 or 6 contracts presented in this short time period. I have noticed a real estate trend that I haven't seen in a long time. Some Scottsdale home buyers are coming in with very low offers.

I believe the lowest I received was $30,000 or more under the list price on a Scottsdale home for sale. Of course, my seller was upset and let me know that he'll hold onto the home and wait for a better offer rather than sell it at such a lowball price.  In fact, not one of these lowball buyers has been successful in getting their offers accepted.

No matter if it's a Buyer's Market or Seller's Market, there will always be potential buyers that will make lowball…

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