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!”

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!"

In the past, Darin has written that agents “can do better” with the presentation of homes. For instance, if you are not going to keep flyers in the flyer box, don’t have a box! If people drive by a home and see a box, they expect the box to be full. When it is empty, they probably assume you are not doing your job. Many of you that know me know I am not a huge fan of fliers. What I am a fan of is properly pricing a home and then doing a GREAT job in making sure people are able to easily find the home online and to get information quickly. A custom sign or a custom sign rider with a web address for that specific home, along with a “text for information” number, allows for immediate “access” 24 hours a day, 365 days a year. To me, this is a much better idea.

Obviously, there is much more to this topic than just flyers or a sign. The video and this post really stand for properly marketing a home. It’s about telling a story.  It’s about creating interest, talking about the neighborhood, giving people a feel for what it is like to live there. This type of marketing can be considered hard work and time consuming to the average agent. Guys like Darin don’t look for average agents to coach, they look for agents that go far above and beyond what is “common” in the industry.

For the past 18 years, I have been selling homes here in Arizona. In good markets and bad, one thing remains constant, the fact that I love helping people buy and sell homes. Marketing properties has changed dramatically since “the old days” and I have been fortunate to surround myself with some top notch marketing professionals so that I can continue to do the best job possible for all of my clients.

I may not pick up a guitar and sing about things any time soon, but it is good to know that some of my friends will pick up the slack.

For many, the a/c has been cranking for weeks, but for some, they hold out as long as possible. I can tell you one thing, if you are selling a home right now, don’t try to “cheap out” and turn the a/c up to 85 or 90 when you leave for work in the morning. Try to keep it cool, it could help.

Last week, I was looking at homes in Tempe with a friend / client and was glad that many of them were occupied. As you know, there are many parts of town and a few price ranges where the majority of the homes are vacant. Not only are these homes vacant, they have no power on. No power means, no a/c. Ever step out of a car into the hot sun only to find the inside of a home to be hotter? Believe me, it’s not cool.

If a buyer needs to rush back to an air conditioned car with sweat dripping off of their forehead, he / she probably isn’t going to have a real fond memory of that home. Same thing when the sellers leave all of the blinds shut and the a/c up to barely bearable – it just doesn’t show as well.

From SRP we get this information that probably doesn’t have a home seller in mind:

“Q: Is it better to set the thermostat to a high temperature (85° to 90°) while at work all day and cool the house (two-story, approximately 3,200 square feet) when you get home to a comfortable temperature (approximately 80°), or to keep the thermostat just a degree or two higher during the day so that the cooling unit doesn’t have to work as hard during peak hours to cool the house?

A: You will save money anytime you can increase the temperature on your thermostat and cause the unit not to run. The old myth that says you will spend more energy bringing the temperature back down than you would have spent just leaving the thermostat alone is just that, a myth.”

So, you might save a few bucks by turning the a/c up to 90 when you leave for work, right? Well, if you are trying to sell a home, it could cost ya’ even more. If your home shows well and is priced correctly, leaving the a/c in a comfortable range during the day might just be money well spent…

Recently, a local man was arrested and charged with defrauding a secure creditor and criminal damage after the deconstruction of his Chandler home.

Unfortunately, this has been a very common practice for the past couple years as the wave of foreclosures spreads throughout the valley. I see many foreclosed homes where the sinks, toilets, air conditioning units, water heaters, cabinets, counter tops, lighting and even landscaping items have been removed or vandalized.

This theft and vandalism is obviously not helping the real estate market and probably effects the values of the entire neighborhood. It seems to be a common practice with some of the “buy and bail” people, as well.

A quick look at Craigslist will often show ads for materials from a home and often sounds suspiciously similar to the practice of “deconstruction.” Just like any other criminal damage, police encourage homeowners to be aware of their surroundings and to watch foreclosed homes in their neighborhoods and report any suspicious activity.

Of course, if you are struggling with keeping your home and need any good resources to discuss your options, I am here to help as best we can. Short sale and foreclosures are a huge part of the real estate market right now. I am happy to discuss your situation and have some very helpful attorneys and and industry professionals that can answer your short sale or foreclosure questions for you. As always, if you have any real estate related questions, “Just Call Nick!”

Below is a map of the surrounding area. Take a look around! We think you’ll love the convenience of living in this area!

View Camelot Corner Tempe AZ in a larger map

If there is currently anything for sale in Camelot Village, they will be displayed below. Click on any one of the homes to see detailed information with pricing, photos and more. If you would like to see any of these homes, please contact Nick Bastian at 602-803-6425.

Camelot Village Homes For Sale

30,870 Listings

$24,000 2609 W Southern Avenue 60
Tempe, AZ 85282 Listing office: Realty ONE Group

$17,500 2609 W Southern Avenue 398
Tempe, AZ 85282 Listing office: Realty ONE Group

$325,000 850 S RIVER Drive 1093
Tempe, AZ 85281 Listing office: West USA Realty

$595,000 133 E ALAMEDA Drive
Tempe, AZ 85282 Listing office: RE/MAX Fine Properties

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If you know me, you know that I have a pet peeve about some of the things that happen in the real estate industry. Many of these things have to do with the “different rules for different people” mentality.

For instance, I often wonder why/how the major home builders get away with saying you “must use our lender” and you “must use our title company” for services. I know most of the reasons – that will probably be a whole new post on a whole new day. The main excuse reason was/is that they have bulk rates with “preferred vendors”, etc.

Getting back to today’s rant, I’ll focus on the “Seller’s Property Disclosure Statement” or “SPDS” (spuds is a common term we use).

Many of the banks and short sales have the language of “no SPDS” in their property profile sheets. Basically, they must feel like they are limiting their liability by trying to get a buyer to waive receipt of something so common to our residential resale real estate purchase contract that it is pre-printed into the document.

Well, since the banks are doing it, why shouldn’t others, right? Today, I saw this language written in the agent remarks section of an mls print out. Not that it is the first time I have ever seen it, this just happens to be the first time I have vented about it, to you.

“Property Sold As/Is. No Disclosures or Warranty Provided. Owner is a licensed real estate broker in AZ and the listing agent.”

No disclosure? Really? Why not? In Arizona, and I assume other states as well, every buyer is entitled to a SPDS. The fact is, even if someone has never lived in a property, there are many questions on the Seller Property Disclosure Statement that an owner would know.

Some basic questions from an Arizona Seller’s Property Disclosure Statement are:

1. From line 3:  Property address.
2. From line 6: Legal owner(s) of property:
3. From line 21: Are you aware if there are any association(s) governing the property?

Many of the questions are pretty basic and any owner “could” answer a number of the questions. Granted, banks or an owner that has never lived in a home might not be able to completely fill out a “SPDS” as much as we would like.

It is recommended that if a buyer is refused a SPDS by an owner of a property they would like to purchase, a blank copy of that document be given to the buyer for review. The blank document might be beneficial in helping to bring attention to possible items of concern or importance. Another form that is helpful in determining things to consider is called a “Buyer’s Advisory” form which can be a very good resource of information.

If you have any questions about any of the forms mentioned, please feel free to call me to discus, I’m always glad to talk shop…

With the struggles and inventory issues of Queen Creek, Maricopa and some of the outlying areas, there may be a shift to properties with easier access to more centralized locations.
Tempe, Scottsdale and much of Central and North Phx still appear to be doing “pretty well” as far as sales and demand. Light rail should bring some interesting changes to our growing core. As always, I’ll be keeping a close eye on the valley’s real estate market so check back often for more updates… Remember, if you have any real estate related questions.. “Just Call Nick!”