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!” I can be reached at 602-803-6425. That’s 803-NICK.

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!"

Apparently, the boatloads of cash they are sitting on is now being invested in places other than dominating their competition in search-land. While Google has been involved with real estate search for quite some time, this investment is different. This is an actual investment that “will go into a Low Income Housing Tax Credit (LIHTC) that will give tax credits to builders and developers of  homes for low-income families and senior citizens.” Yes, they will probably receive tax breaks on their investment, but let’s face it, they are in the business of making money and keeping shareholders happy. This investment is a business decision.

I have had conversations with people in our industry and with friends in the financial services industry about the amount of people waiting to “time” the market so they can buy at the bottom. While many Americans are sitting on their cash, the big boys appear to be doing something different by investing in low income housing.

While many people struggle with job stability and economic uncertainty, there are others that are waiting for someone to tell them it is ok to own a home again. None of us has a crystal ball, but for some, the market is looking like an opportunity to purchase more home at a lower interest rate than they thought would have been possible in the past.

For sure, we will continue to help people through this market where short sales and bank-owned homes are so prevalent. Like Google, people will continue to put their money where they see fit. Of course, when you decide it is time to buy or sell real estate, “Just Call Nick!”

I don’t try to hide the fact that I am a “bit of a geek” when it comes to my interest in the effective use of website strategy. Although I love working at Realty Executives, if there was one thing that I wasn’t completely thrilled about, it was the “outdated” websites the company had. For me, it wasn’t that big of a deal because I mainly point people to my own web sites instead of the Realty Executives web site for information. My “main” website simply consists of a Tempe real estate agent sharing information with people looking to buy or sell homes in the South East Valley. I’ve had the site at NickBastian.com for about a dozen years or so, and it too has gone from really bad to ( hopefully ) improving over time, a constant “ work in progress,” for sure. Another site where I occasionally post some drivel about “stuff” is my work at RailLife.com. Here, I write about things that hopefully interest a few people in what is considered a “niche market” web site focused mainly on “life” along the Phoenix light rail line.

Several months ago, I was introduced to Darrell Smith and we immediately hit it off. As the “Chief Technology Officer” brought in to design and implement a massive internet presence for Executives locally, nationally and internationally, Darrell has definitely had his work cut out for him. Over the past few years, I have had the pleasure of meeting a lot of really smart people in the “re.net” where web site development, blogging and implementation are looked at as a way of life. Within minutes of meeting Darrell, I knew he was a guy that really “gets it” when it comes to knowing what a real estate company needs to have to be found and to be effective online. Strength in numbers, a huge web site with thousands of pages of searchable content is what quickly piqued my interest. Talking a bit more of the development and execution side of these new sites with Darrell made me want to learn as much about what he was working on as possible.

OK, I need to cut to the chase. What is happening at Realty Executives and why?

Before today, Realty Executives had a platform that quite frankly was horrible. With the re-launch of www.RealtyExecutives.com and of www.SearchHomes.com that instantly changes. ( in my opinion )

As an international web presence built upon the very powerful WordPress platform utilizing cutting edge search capabilities, Executive profiles, blogs, marketing resources and more, this first phase of the Realty Executives web site will be light years ahead of the old Realty Executives web sites and light years ahead of many of the current real estate related web sites online today. Sure, there are some really good web sites out there, but I believe the ideas behind what these new sites will become have the potential to help Realty Executive agents all over the world in creating a much stronger web presence. Better yet, I believe these sites have the ability to increase MY internet presence which benefits myself AND my clients. One of the great things that has not been overlooked is the fact that real estate agents are independent contractors. The company philosophy is focused on the “Executives” in knowing that we all have individual businesses to run. The ways that Darrell has come up with to help us succeed will be a big part of the success of the main web site(s) which will be designed to tie into our individual web sites. ( more on that in the coming weeks )

The launch is today, take a look and give em’ a test drive. If you are a Realty Executives agent, make sure to take advantage of the things that are going to be available to you on an individual basis. There will be ongoing announcements soon and over the next couple of months as tests, tweaks, improvements and additions to the web sites roll out. ( you really should pay attention and take advantage of these tools )

If you are a real estate agent from another company or a person looking to join a great brokerage that will also be able to help with some serious “Google juice,” I’d be happy to give you my .02 on why Realty Executives might be a great choice for you. No, I am not a recruiter. I just happen to think this web site project is VERY cool and can be a great asset to all of us.

There will be a LOT more information available soon but, ssshhhhh, this is a “soft opening” and kind of a secret, so don’t tell anyone. OK?

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…

Within this community, residents enjoy well kept common areas, 2 community pools, tennis courts, sand volleyball and parking for RV’s, boats, trailers etc.

Click here to see Homes For Sale in River Run. The link will take you to the actual MLS for an accurate picture of CURRENT sales activity in River Run / Gardens Tempe.

At the bottom of this page, you will see an example of any homes currently for sale in the neighborhood, as well. If nothing shows up, there is not currently anything for sale here as the list automatically updates.

The legal description calls River Run “The Gardens Tempe” and lists the homes as being built from 1984 – 1994. There appears to be a mix of people in age ranges with students, part time residents and just about anything in between.

Being near a bus stop and an Orbit system, the area is also good for people that enjoy getting around town via public transportation.

To give you a feel for the neighborhood, I have enclosed some photos of River Run and will add to them as time permits. I am also enclosing a slide show from YouTube showing some of the community features. If you would like a list of homes for sale in this community or any other area, please let me know and we will be glad to send you the information right away.

Here’s a map of the area for you to see what is nearby.

View River Run Tempe AZ in a larger map

River Run Homes For Sale

1 Listing

$390,000 1430 N DORSEY Lane
Tempe, AZ 85288 Listing office: West USA Realty

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MLS IDX Listing Disclosure © 2026

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

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

30,866 Listings

$719,900 922 E LOYOLA Drive
Tempe, AZ 85282 Listing office: West USA Realty

$584,900 2041 E RADCLIFFE Drive
Tempe, AZ 85283 Listing office: Real Broker

$249,999 2333 E SOUTHERN Avenue 2016
Tempe, AZ 85282 Listing office: Real Broker

$223,568 1011 E REDFIELD Road
Tempe, AZ 85283 Listing office: Redfin Corporation

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MLS IDX Listing Disclosure © 2026

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.