Metro Phoenix Home Prices Could Drop Again!

Metro Phoenix has a large number of inventory homes for sale right not on the market and a large shadow inventory. The shadow inventory is the number of distressed property sales that might be added to the market this year in 2010. Most of these homes will be from their foreclosure status. Phoenix home prices began to show signs of recovery in the second half of 2009, but this new potential inventory could threaten the recovery and has economist worried those prices might decline further in Phoenix. The shadow inventory is made up of homes that are still set to foreclose, investor homes that they will try to flip, and the thousands of homes that were unable to obtain a successful loan modification. Additionally, it includes homes that are scheduled to experience a rate adjustment since their rates begin to reset this year, and there are thousands of homes that have simply been abandoned by homeowners. It is estimated that approximately 30 to 50% of homeowners in the metro Phoenix area are underwater on their home equity.

These homeowners are the most feared of the shadow inventory because it is difficult to predict to what it will do to our real estate market. All these things factor in and according to Tom Ruff a Phoenix real estate data analyst this will cause our recovery to take longer and be more difficult, but he does not think that it will cause another crash. Shadow inventory does not necessarily have to further damage our market if Banks, Investors and homeowners work at helping the market rather than hurting it.

Increasing Pool Efficiency Pays Dividends

Michelle's Phoenix Blog Archives

pages 1 2 > Pool Efficiency Pays Off! 2010-03-12 14:56:56 Here in the Valley of the Sun, Phoenix many of us enjoy our pools, but with today’s tough economic times many are looking for ways to save money. Your pool pump uses more energy than any appliance in your home with the exception of your AC. Making your pool more efficient might save you hundreds of dollars each year. You might want to look at replacing your single stage pool pump with a more efficient variable-speed unit. Manufactures like Pentar or Hayward claim that they can save your energy usage by as much as 90%. Variable speed pumps are more expensive and it takes you an average of two years to recoup the costs of the new unit. Another alternative would be to install a 2-stage pump though not quite as efficient they still will save you. If you are an APS customer they are offering beginning March 15th a $200 rebate on variable pool pumps and $100 on dual speed models. If you go to APS.com you can find a list of participating stores If you are an APS or SRP client you can sign up for a time of use plan and set your timer to run during off peak hours. IF you do not have a timer get one installed and only run your pump during the off peak hours to save money. Another idea is to switch your pool to LED lighting it is estimated that LED uses 75% less power than incandescent lighting. Clean your trap baskets regularly clogged baskets force your pump to work harder and you to pay more in the long run. All of these tips can help you shave dollars off your electric bill, which in turn puts more in your pocket.

Come Experience Phoenix Down Town Unique Cultural Renascence

The city center areas of Phoenix have been experiencing a unique cultural renascence. The area has become home to many unique art galleries and fun restaurants along with unique boutiques. First Fridays have become a time when the down town area is visited by hundreds of people. It has become a cultural monthly event for many. This week will host the 22^ndannual Art Detour on Saturday and Sunday. The Art Detour begins at the Phoenix Art Museum on Central and Mc Dowel where you can pick up a free map. While you are at it if you are up for some fun places to dine there is Copper Star Coffee on 7^th ave. If you are in the mood for Mexican food you might want to check out Americas Taco shop, or if you are in the mood for pizza try some of the best pizza around at Cibo which has been ranked as some of the best pizza in the country by bon appe'tit. All in all you should take the time to check out this valley event. It will promise you a great time this weekend, and fun for singles and families alike.