Last year was a year where home prices were low and interest rates were lower. While the media kept perpetuating the idea that homes were barely selling during much of 2011, numbers released by the Arizona Regional MLS show that 2011 saw the second highest number of homes sales this century, which was surpassed only by the “insanity” that was 2005. Go figure.

It’s true, there were 100,959 home sales last year in our market. Of those sales, nearly half ( over 47,000 ) were CASH sales. Yep, greenbacks. No financing, at all. That’s a lot of cash.

Of the homes sold in our market last year, 87% of them were under $200,000 purchases. Of that 87%, we see that a total of 63% of 2011 home sales in our market were below $100,000! Heck, remember 2005?  You were hard pressed to find anything for less than $100,000. We have seen a LOT of investor activity in this real estate market.

Who’s buying homes?

People who have been lulled to sleep or who have not been paying attention to the real estate market for a while seem to be surprised when they have difficulty “stealing” property in today’s market. Inventory is low, rates are good, and the thought of missing the bottom of the market is pulling at people’s wallets.

My question is this. If we now have record low mortgage rates, how long will this trend continue? We are hearing reports of parents buying homes for their kids, investors pulling out of the stock market and buying multiple properties, renters looking to SAVE money on housing expenses, etc. On the other hand, we hear of overall lower home ownership rates as people struggle in this economy.

Short sales and foreclosures made for more than 70% of the sales during the last year. People talk about the “shadow inventory” of bank owned homes, but many people I have talked to in the business don’t see it coming. Many properties are being sold at the “courthouse steps” before they ever go back to the bank. The market is ever changing. Stick around, we’ll have a lot more to talk about in the very near future…

If you have any questions or comments, “Just Call Nick!”

Remember the Google Fiber effort from last year? Of course you do. While the big GOOG made the wrong decision by choosing a city other than Tempe, the chase for speed in our region is far from over! Check out these details below from the City of Tempe.

Tempe and 28 communities, universities launch ultra high-speed network effort

A group of 29 universities and communities across the country, including the City of Tempe and Arizona State University, are seeking to accelerate the deployment of ultra high-speed networks to stimulate innovation and research through a new venture, Gig U.

Gig U: The University Community Next Generation Innovation Project believes that improvements to these networks drive economic growth and stimulate a new generation of solutions addressing critical needs, such as health care and education.

Believing this to be an important mission, the City of Tempe and ASU participated in the effort to bring Google fiber to the community last year. Thousands of people from the community sent Tweets, emails, videos and notes to Google encouraging them to pick Tempe. Check out the video message to Google by Tempe and ASU at http://youtu.be/EtlR2Zf26oY.  While Google chose another city, neither Tempe nor ASU gave up on the quest for ultra high-speed.

“This might be the most important effort for our community,” said Councilmember Onnie Shekerjian, Chair of Tempe’s Technology Committee. “Innovation drives today’s economy. This kind of connectivity would be enticing to new technology businesses looking for a corporate office as well as to researchers everywhere. Faster speeds will ensure that Tempe stays at the forefront of innovation and creativity.”

Beyond research at ASU, Tempe is home to a significant number of technology companies, such as Medtronic, First Solar, and Limelight Networks. These could benefit from increased speeds, as could those people who do research out of their home or in coworking spaces and tech incubators like LaunchSpot.

“We know that our researchers have helped to improve solar energy technology and created devices of galactic importance, like some of the features on the Mars Rover, said Tempe Mayor Hugh Hallman. “What we don’t know is how many great ideas and revolutionary products wait to see the light of day while network bandwidth and computer resources play catch up.”

Communities like Tempe increasingly depend on high-speed networks to educate, collaborate and share large amounts of information instantaneously. Research in real time has fueled the growth of the global information economy, yet today’s market for bandwidth services does not address the particular needs of university communities.

“Access to reliable and consistent high-performance computing is increasingly important at a research university. Enabling high-speed access to advanced computing resources enables Arizona State University to expand research in a broad variety of disciplines including the life sciences, aerospace, sustainability and national security. As a member of Gig.U, ASU continues to power transformational discoveries and practical innovations that solve problems affecting our community, the region and our nation,” said Gordon Wishon, ASU Chief Information Officer.

Gig.U universities and their surrounding communities have the most favorable conditions for a market-based, ultra high-speed broadband strategy, including dense populations and high demand from institutions and residential customers. These communities have long served as partners and test-beds for advances in market segments ranging from healthcare and education to technology and energy.

Through an open Request for Information (RFI) process, Gig.U will gather data on these specific segments with an intent to inform high-speed service providers of new implementation approaches, and to enable competition to bring high-speed networks to research communities. The group aims for the RFI process translating into tailored Requests for Proposals for deploying cutting edge networking technology to campuses and communities in a matter of years, not decades.

The membership of Gig.U includes:

Arizona State University

Case Western Reserve University

Colorado State University

Duke University

George Mason University

Howard University

Indiana University

Michigan State University

North Carolina State University

Penn State University

University of Alaska

University of Chicago

University of Florida

University of Hawaii

University of Illinois

University of Kentucky

University of Louisville

University of Maryland

University of Michigan

University of Missouri

University of Montana

University of New Mexico

University of North Carolina

University of South Florida

University of Virginia

University of Washington

Virginia Polytechnic Institute and State University (Virginia Tech)

Wake Forest University

West Virginia University

So, the City of Tempe has started a new campaign to raise awareness and to get more people to Like their page on Facebook.

According to the press release below, you and I can win cool stuff just because you “Like” the City of Tempe. How cool is that!?! Once you like them, just tell them that Nick said you would find cool stuff on their page. In a way, we both get brownie points. Hey, my kids LOVE the water and if I help get the most likes, I get to take them boating on Tempe Town Lake. Seriously, my boys LOVE Tempe Town lake, they DESERVE to win this dang contest. You won’t let them down, will you?

Here’s the scoop from Tempe.

2,011 in 2011 Facebook contest starts on Social Media Day

In celebration of Social Media Day, the City of Tempe is hosting a contest – and you can win a free boat ride on Town Lake and concert tickets!

We’re hoping that someone will be our 2,011^th Facebook fan sometime this year – 2011.

All our Facebook fans are special and we really appreciate it when people share the information we post and recommend us to their friends. So, if you happen to recommend the 2,011^th fan, not only will that lucky new fan get a prize, so will you!

Here’s how it works:

We’re at www.facebook.com/cityoftempe. If you aren’t a fan, please like us. If you are, tell people about the page. When they ‘like us’ have them drop a note on our wall that lets us know that you are the reason that they are on our page. Who knows? They may even say something nice about you!

That’s it!

The more people you recommend, the more likely you are to win a prize, because the person who recommends the most people (and remember, your name has to appear in a post) will win a prize, too!

Each winner will receive a free boat rental large enough to hold three of their friends or family members from Tempe Boat Rental on Tempe Town Lake and a pair of tickets to the Songwriters’ Showcase at Tempe Center for the Arts.

I am already a fan of Tempe, you should be too! Heck, they are only trying to get to 2011 and they are almost there so HURRY! Just like the City of Tempe on Facebook and tell them that Nick Bastian sent you.

C’mon, do it for my kids!

The Tempe Diablos have been doing GREAT things in Tempe for over 40 years. I vividly remember stories from when I was a little kid living in Tempe of my uncle telling us about the organization he has been a part of since longer than I can remember. To be clear, Casino Capers is about MUCH more than just a GREAT party. It’s about changing the lives of people in our community.

“Members of the Diablos devote their time and energy to the youth of Tempe by promoting, organizing and supporting community-based programs.” – Tempe Diablos

Tonight is the annual Casino Capers fundraising event that has become a “can’t miss” for many people. If you want to have a LOT of fun, eat some great food, and hang with some of the “cool kids” in the neighborhood, you need to have this annual event on your radar. The 2011 Casino Capers theme is “A Night in The Orient” and will feature casino style gaming along with some super chinese food catered by the most well-known Chinese restaurant in all of the land, Monti’s La Casa Vieja. OK, so you thought they just did steak? HA! Think again! Better yet, come and see for yourself.

Tickets for Casino Capers are just $160.00 per couple. I can assure you, it is money well spent. This event is top notch, the silent and live auctions are something you don’t want to miss. Please don’t let my wife bid on a “cute” puppy this year!

Give back to our great city, have some fun, and meet some great people.

Michael Monti, Jack Smith, Jim Mack and Nick Bastian – 2010 Casino Capers.

Casino Capers "A Night In The Orient"

6426 South McClintock Drive

Tempe, AZ 85283

Casino Capers will be held at the southwest corner of McClintock and Guadalupe in the space formerly occupied by Steinmart, north of some Tempe favorites like Mac’s Broiler and Tap and Changing Hands Bookstore. It’s an area I call the Camelot Corner. When I heard where Casino Capers was being held, I was super excited because it is VERY close to our house. Heck, Lori and I might ride our bikes, just for fun.

View Camelot Corner Tempe AZ in a larger map

See the mission statement from the Diablos below. Then, do yourself a favor and make plans to attend the 2011 Casino Capers festivities!

*sorry for the blurry pics, they are the only ones I took last year. maybe I can do better this time. *

There is rarely a day that goes by when I haven’t had a conversation about real estate. As you know, it’s in my blood and I enjoy talking to people about any aspect of the real estate business.

In the mid 2000s, the conversations were a little different than they have been for the past few years. Obviously, we have gone from what seems to be one extreme to another.

Currently, the topics people mostly ask about revolve around short sales, bank-owned homes, trustee sales, strategic default and more. Often, people just don’t know what to believe. Have we hit bottom? Is it a good time to buy a home? Should I sell now? Can we compete with the banks?

Just a few weeks ago, CNN posted an article titled, “Real estate: It’s time to buy again”. In that article, we read that “the most attractive asset class in America is housing.” They go on to talk about the real estate industry and how low the new-home starts are in the country. Just 5 days before the CNN article was published, I got a call from a reporter asking about the condition of our real estate market in the valley. When Channel 10 called, they asked me a few questions on the phone and then wanted to know if they could come by my office to discuss the market. In the video below, we talk about how builders are in the business to sell homes and how they have had to compete with a high percentage of distressed sales. While I don’t think the market is perfect for everyone, I do believe there are some good opportunities. Waiting for prices to fall might not be the best decision for the long term.

While many of the news reports over the past few years have been quick to say that home ownership isn’t a good idea, it seems there has been a recent change of heart from some of the larger players. To me, it usually seems like many of the media outlets are a few months behind in their assessments. Take a look at this video below where my friend Steve de Laveaga at Fidelity National Title also agrees that the media can be behind and talks about a very strong first quarter of 2011.

In the video, you hear Steve make several interesting points about the current real estate market.

1. They have had “back to back to back record resale openings” at Fidelity.

2. Investors are back. People from all over the world are purchasing property in Arizona right now.

3. At the time the video was shot, they had seen 9 straight weeks of price increases.

4. Steve says, you better buy something quick or you are going to pay more for it.

So, are we out of the woods and back to doing the happy dance every day? No way. Many challenges remain. Some areas are doing better than others and each person has a unique situation. If YOU want to talk about the current real estate market… “Just Call Nick!”

Distressed sales.  You hear the term almost every day. Like most things you hear often, there are two sides to the story.

The fact is, not everyone is singing the blues these days. For some, the recent Trulia.com report saying that it is cheaper to buy a home in most markets than it is to rent, is good news. In the report, Phoenix and Mesa are both listed in the top five of the Top 10 Cities to Buy vs. Rent comparison done for the first quarter of 2011.

Times have certainly changed since the “mortgage-anything-you-can” height of the market. People are looking at location x3 again, financing options have changed, and reasons for buying a home may have even changed.

During one of our company events, I enjoyed this “tongue in cheek” rendition of the Short Sale Foreclosure Blues by my friend and President of Realty Executives, Rich Rector.

Short sales and foreclosures are a large part of the real estate market today and probably will be for a while. If you are facing foreclosure or have questions about your options, OR if you are now beginning to think it is time to quit renting, “Just Call Nick!” I’m glad to help…

Take a look at the video. The words are below – sing along if you’d like.

Well I bought at the top in 2005,

Life was great, beginnin’ the thrive,

Then, whoa,things took a major dive,

Got the short sale, foreclosure, repo blues,

Behind on my payments, market done tanked,

prices have fallen, zilch in the bank,

went to my lender and drew a blank,

I’ve got the short sale, foreclosure, repo blues.

If I could have, I would have paid,

If I could have, I would have stayed…

I’ve been Fannie and Freddie and FHA’d,

I’ve been Chase, Wells Fargo’d and BofA’d,

I’ve got the underwater, upside down,

short sale foreclosure blues…

I’ve been Fannie and Freddie and FHA’d,

I’ve been Chase, Wells Fargo’d and BofA’d,

I’ve got the underwater, upside down,

short sale foreclosure blues…

The Tempe Fantasy of Lights Parade is this Saturday and begins at 6pm. Lori and I will be taking the kids to see the floats, fire engines, and costumed characters and we hope you can join us as well. During the parade, there will be a “Winter Wonderland” contest where some lucky person will win a $250.00 Mill Avenue shopping spree. Approximately 20 businesses along Mill Avenue will participate in the Winter Wonderland storefront decorating contest where the public will vote on the best decorated business along Mill. Each person that votes will be entered into a drawing for the $250.00 Mill Avenue shopping spree. Of course, you probably don’t have much of a chance because our kids say that we will win the contest!

Each year the Tempe Fantasy of Lights Parade draws approximately 45,000 people looking to get into the holiday spirit. While we always enjoy Thanksgiving with our family and I typically think of turkey day as the beginning of my holiday season, this parade should excite the kids even more. Immediately following the parade people are invited to watch the lighting of the holiday tree located in front of MADCAP Theater on Sixth Street and Mill. Santa Claus will be riding in the parade and then will be hanging out in the MADCAP theater lobby where we can take photos ( at no charge ) with St Nick.

The Tempe Fantasy of Lights Parade begins at Third Street and Mill Avenue and ends at Fifth Street and Maple. Directly across from the starting point of the parade is the METRO light rail station for Mill Avenue. The boys are excited to “ride the train” to the parade!

The map below shows the parade route, the starting and stopping point, the location of the holiday tree, and the MADCAP Theater where Santa will be providing family photo ops. The portion of the route outlined in red shows the “pedestrian viewing areas.” More information about the Tempe Fantasy of Lights Parade is available on this Fantasy of Lights page.

View Tempe Fantasy of Lights Parade in a larger map

* Parking note * If you are not riding the light rail, the city of Tempe says that you can bring a can of food for the less fortunate and park for free at the lot on Fifth Street and Farmer and at the Tempe City Hall garage on Fifth Street and Forest. The Tempe Kiwanis will deliver the goods to Tempe charities in need. Other area parking info is located at:

http://www.millavenue.com/transportation

If you are heading to Tempe for the parade, “Just Call Nick” and let us know. It would be fun to see you. We hope to see you there!

The last few years have been tough on traditional home sellers. Downward pressure on pricing has made it very hard for many people to compete against the large numbers of bank-owned and short sale properties. Unfortunately, many home sellers price their home for what they “should have sold for” when they first thought of selling. Over-pricing a home can be a huge mistake. In order to price properly, you need to take many things into consideration. Location, features, competition, and several other key factors should be considered when looking to sell. The fact that you “need” to get X amount of money isn’t always the most realistic place to start. I hate to tell people that, but it’s the truth.

In the current market, buyers are looking for a deal. Obviously buyers have always wanted a deal, but with media reports of homes being sold for pennies on the dollar, people have been told that foreclosures and short sale homes are a great way to go. Let’s face it, for the average buyer, many things go into a decision to move. But with interest rates bordering on ridiculously low, and prices many thought they wouldn’t see again, people are looking for a deal as much as a home. A recent report from the National Association of Realtors tells us that first-time home ownership is way up, and I have seen lots of smart people moving up into larger homes in better areas to take advantage of the current market. Fortunately, competing with the banks in today’s market may not be as hard as you think. As long as the correct value is in place, many buyers are looking to avoid the short sale process and the headaches that can come from bank contracts. A traditional sale sounds pretty darn good to many people in the market to buy that may have had a bad experience with a short sale or a bank transaction. As a seller, you can compete – you just might need to have someone on your side to help you through the process.

Bottom line is this… If you have questions about buying or selling real estate, "Just Call Nick!"

It’s time for our 8th annual turkey drive! This year we will be delivering turkeys to the Salvation Army as part of the 3TV Big Guy Turkey Drive on November 18th. Yes, I said November 18th and no, that isn’t much time to raise money so PLEASE contact me SOON if you are able to help.

We chose to work with Channel 3 TV this year after hearing some great things about how they help the Salvation Army give back to needy people from within our community, I sincerely hope you will join us!

I believe that many people have a desire to help others this time of year but find it difficult to do so because our lives are so busy. If you would like to help by making a financial donation, we will do all of the work for you! I’ll be purchasing frozen turkeys Thursday afternoon to deliver to the Big Guy Turkey Drive. (I can provide receipts if needed.)

If you are able to donate one dollar or a hundred ( or more), I am able to purchase frozen turkeys all at once for delivery to the Salvation Army on Thursday the 18th. Over the years, we have found this the easiest way to help the most people. I can give you my address or I can pick up donations up until about noon on the 18th. You can always email me at nick (at) nickbastian (dot) com or call me for more info! I am out and about a LOT, so it makes picking up your donation pretty easy! If you are in Tempe, donations can also be dropped off at my office between 9am and 5pm Monday-Friday, just let me know if you need directions. ( see map below for more donation options )

Last year, with the help of my friend Rob, we were able to deliver over 1100 pounds of turkey for needy families! Big thanks to Rob Sell at Sell Home Inspections for all he does. Rob  ( and his truck ) is a huge help in hauling all of these birds. We both have a BLAST delivering birds every year and want to thank everyone for your donations to such a great cause.

Please help. Every single penny is GREATLY appreciated. We want to make it easy for everyone to help others this Thanksgiving. I would also like to wish you and your families a wonderful holiday season!

5 shopping carts FULL of Turkey!

Turkey mountain!

Drop off points: We have a few different drop off points to help make it easier for you to donate money. Remember, any amount helps. We buy turkey at the seasonal sale price so even $5-$10 dollars can be very helpful. The map below shows where a few of our friends are located. If you are a business or organization ( that I know and trust ) please let me know if you would like to help us out with our turkey drive so that we can add you to the map. Even if one of these locations isn’t convenient, please contact me and I’ll be glad to meet you. Thanks so much for all of your generous help over the years. Together, we are able to help a lot of people.

View Turkey Drive Drop Off in a larger map

Lots of people love a good burger. At Smashburger, they serve a really good burger. Wednesday, October 27th, 2010, Lori and I will be having lunch at the Smashburger on the southwest corner of Rural and Baseline in Tempe. 25% of the sales for the entire day will be donated to Grace Community Christian School. If you have time to join us for lunch, that would be great! We plan to be there at 11:30am while the kids are at school so that we can have some fun and hang out with friends.

Below is a pic of the Arizona Smashburger which happens to be my favorite!

If burgers aren’t your thing, you can try one of their chicken sandwiches or salads. See the Tempe Smashburger menu here. They also make a shake that is worth a try! So, if you have been looking for a good excuse to go grab some lunch with friends, please join us on the 27th at 11:30am. If you can’t make it for lunch, stop by after work. The food is good and you will help a cool Tempe school at the same time. Cheers!

Smashburger is located at:

815 E. Baseline Road E. Suite B115

Tempe, Arizona 85282

480-838-9933