Michelle Your Metro Phoenix Realtor

For Sale: 3BR/2BA Single Family House in Phoenix, AZ, $189,000

2012-01-16T16:32:00.000-08:00

Huge price reduction on Central Phoenix short sale opportunity. This is a great home which has many of the upgrades done for you with dual pane windows, resurfaced pool and more. It sits on a big lot with a huge back yard. Hurry you do not want to miss this one.

For Sale: 3BR/2BA Single Family House in Phoenix, AZ, $189,000

For Sale: 3BR/2BA Single Family House in Phoenix, AZ, $230,000

2011-10-12T16:46:00.000-07:00

For Sale: 3BR/2BA Single Family House in Phoenix, AZ, $230,000 This is a fantastic short sale opportunity in Central Phoenix. This home is close to good schools, down town, great shopping, and the light rail. You do not want to miss this opportunity. It is brought to you by Michelle Owens, Home Smart Realty http://phoenixurbanliving.net

For Sale: 5BR/3BA Single Family House in Phoenix, AZ, $479,000

2011-08-10T12:05:00.000-07:00

For Sale: 5BR/3BA Single Family House in Phoenix, AZ, $479,000 Huge price reduction! This home is like new, and it is located in the Biltmore/Squaw Peak area with mountain views. It is 5 bedrooms 3.5 bath with a gourmet kitchen and two master suites. This home is perfect. Call to schedule an appointment to see it. It is brought to you by Michelle Owens Home Smart Realty www.metrophxrealestate.com

Wallow Fire jumps to 430,000 acres in eastern Arizona

2011-06-11T16:17:00.000-07:00

Wallow Fire jumps to 430,000 acres in eastern Arizona The Wallow Fire continues to ravage the White Mountains. The fire was 6% contained this morning on Saturday 6/11, but with the higher winds today it is back to only 5% contained. The fire fighters are continuing to be vigilant to try to hold already established lines. In order to contain the fire they might need to burn out an additional 150,000 acres which would make it the largest forest fire in Arizona history. Thank you to all the fire fighters who are working tirelessly to save the White Mountain Communitites.

Search Metro Phoenix Homes

2011-06-04T12:13:00.000-07:00

Search Metro Phoenix Homes For Sale. This tool allows you to search the real MLS just like a Realtor.

Fannie Mae HomePath Financing by Jon Tobias Nova Home Loans

2011-05-21T17:02:00.000-07:00

For Sale: 4BR/2+1BA Single Family House in Phoenix, AZ, $278,000

2011-05-06T14:27:00.000-07:00

For Sale: 4BR/2+1BA Single Family House in Phoenix, AZ, $278,000

For Sale: 5BR/3BA Single Family House in Phoenix, AZ, $499,900

2011-04-06T09:39:00.000-07:00

For Sale: 5BR/3BA Single Family House in Phoenix, AZ, $499,900 Fantastic remodeled home with beautiful mountain views of Squaw Peak. It has been remodeled from top to bottom and is like new, and it is not a short sale or foreclosure. We can give you a quick response and close quickly. This home is located in Madison school district, it is located close to I 51 for easy access to down town and airports. Hurry you will not want to miss this home. Please call or e-mail to schedule an appointment to see this home. It is brought to you by Michelle Owens, Home Smart Realty http://www.metrophxrealestate.com

For Sale: 3BR/2BA Single Family House in Peoria, AZ, $169,900

2011-03-01T12:57:00.000-08:00

For Sale: 3BR/2BA Single Family House in Peoria, AZ, $169,900 Fantastic updated home that is move in ready. It is not a short sale or a bank owned home, so we can get you fast answers. It is beautiful with new paint inside and out, carpet, kitchen, bathrooms, and the pool has been re-plastered. The back yard is like paradise. It is located close to the Peoria sports complex and 101 loop. This is a fantastic home. Call to schedule an appointment. This home is brought to you by Michelle Owens Home Smart Realty http://www.metrophxrealestate.com

Michelle Your Metro Phoenix Realtor: For Sale: 2BR/2+1BA Condo in Phoenix, AZ, $84,900

2011-02-27T18:39:00.001-08:00

Michelle Your Metro Phoenix Realtor: For Sale: 2BR/2+1BA Condo in Phoenix, AZ, $84,900: "For Sale: 2BR/2+1BA Condo in Phoenix, AZ, $84,900 Fantastic Biltmore Short Sale Gem in La Terraza. This is a terrific community located in..."

For Sale: 2BR/2+1BA Condo in Phoenix, AZ, $84,900

2011-02-27T18:39:00.000-08:00

For Sale: 2BR/2+1BA Condo in Phoenix, AZ, $84,900 Fantastic Biltmore Short Sale Gem in La Terraza. This is a terrific community located in the Biltmore area close to restaurants, shopping, the Biltmore Fashion Park. It is also located close to I51, down town and the airport. This is a terrific gated community with a pool, spa, and fitness center. This property will not last long. Call to schedule an appointment to view this home. It is brought to you by Michelle Owens, Home Smart Realty http://www.metrophxrealestate.com

Valentine’s Day restaurant specials in Phoenix

2011-02-02T08:27:00.000-08:00

Valentine’s Day restaurant specials in Phoenix Valentines day is approaching, so now is the time to put your thinking cap on and plan a special night to celebrate with your sweetie or even a good friend. There are some great special events and specials to help make your day special without breaking the bank. Check out some great specials for the Phoenix metro area.

This weeks mortgage update courtesy of Jon Tobias and Nova Home Loans

2011-01-30T19:24:00.000-08:00

Week in Review

Mortgage bond prices rose this week pushing mortgage interest rates lower. There were several Treasury auctions and most resulted in decent foreign demand. Stock strength the middle of the week along with higher than expected new home sales put some upward pressure on rates.Volatile oil prices also factored into trading. Saudi remarks indicated they might increase production. This helped stem some of the oil price spikes in the middle of the week but world benchmark prices remained near the $100/barrel mark and US benchmark prices were near $90/barrel as unrest in Egypt continued. Stock weakness and weaker than expected GDP figures led to rate improvements Friday afternoon.

For Sale: 2BR/2+1BA Townhouse in Scottsdale, AZ, $250,000

2011-01-22T08:01:00.000-08:00

For Sale: 2BR/2+1BA Townhouse in Scottsdale, AZ, $250,000 Back on the market buyer walked hurry or you will miss it. This fantastic beautiful prestigious North Scottsdale Grayhawk home is back on market approved at the list price by Bank of America. This is a 3 bed/2.5 bath home located in Cachet at Grayhawk gated community. This home has it all fantastic golf, tennis heated pool and spa, club house, and fitness room. This property not last long. This home is brought to you by Michelle Owens Home Smart Realty www.metrophxrealestate.com

Michelle Your Metro Phoenix Realtor: Arizona bill widens tax-credit donations for schoo...

2011-01-20T13:03:00.000-08:00

Michelle Your Metro Phoenix Realtor: Arizona bill widens tax-credit donations for schoo...: "Arizona bill widens tax-credit donations for schools This new bill would provide relief from budget cuts and allow tax payers to make tax cr..."

Arizona bill widens tax-credit donations for schools

2011-01-20T13:02:00.000-08:00

Arizona bill widens tax-credit donations for schools This new bill would provide relief from budget cuts and allow tax payers to make tax credit donations towards public school books, computers, and other academic purposes. The current law only allows donations towards extra curricular activities. This is a part of a larger bill called the Economic Relief Act, and it would remain in place till 2014. This bill currently has the support of both the House and Senate. It also would allow public schools to shorten their school year to 170 days lengthen school days to compensate, sell more bonds for building repair, and provide time extensions on debt repayment. The contribution limits would remain the same with $200 for single tax payers and $400 for married tax payers filing jointly. School officials are hoping that by allowing funds to go toward class room education more tax payers will choose to participate in the program. These additional funds could provide a lot of relief for our school systems that are burdened by the budget cuts, and most of all help the classroom where it is needed most.

For Sale: 3BR/2BA Single Family House in Peoria, AZ, $174,900

2011-01-14T08:35:00.000-08:00

For Sale: 3BR/2BA Single Family House in Peoria, AZ, $174,900 This fantastic home is not a short sale or bank owned, you get a quick response and this home is fabulous. The pool has been re-plastered, all new paint, carpet, kitchen, master bath. This home is a one of a kind. It features a resort like back yard and RV gate for those with toys that need additional parking space. It is located on a corner lot and faces North. It is located close to the Peoria sports complex, shopping, restaurants and more. There are to many features to list hear. Please call or e-mail Michelle Owens, Home Smart Realty your Phoenix metro realtor to schedule a showing.

Nappa 2010.m4v

2010-12-20T20:25:00.000-08:00

Michelle Your Metro Phoenix Realtor: 2010 Fiesta of Light

2010-12-04T21:32:00.001-08:00

Michelle Your Metro Phoenix Realtor: 2010 Fiesta of Light

2010 Fiesta of Light

2010-12-04T21:32:00.000-08:00

Tiny house movement thrives amid the real estate bust

2010-11-29T16:15:00.000-08:00

Tiny house movement thrives amid real estate bust. To simplify their lives and save money in the process many Americans are turning to tiny houses that would fit into many people’s living rooms. This segment of the market is booming. According to Jay Schafer co founder of Small House Society, “its very un American in the sense that living small means consuming less.” Living this small requires one to definitely purge down to only what you absolutely need. Tumbleweed Tiny Houses a home design company design ultra efficient houses where there is virtually no waisted space down to the cubic inch. These tiny houses pack a lot into the size of many people’s closets and they cost ready made between $40 to $50,000. If you building them yourself they cost about half as much. Tumbleweed’s business had grown exponentially since the housing crises began. The tiny house blog attracts more visitors than ever about 5,000 to 7,000 visitors a day. The movement is really about saving money and reducing your carbon footprint.

Gray Development takes step to takeover of CityNorth project

2010-11-09T23:01:00.000-08:00

Gray Development takes step to takeover of CityNorth project Gray recently in July won a $110,000,000 jury verdict against Norteast Phoenix Partners the key developer of CityNorth which is the vision of Thomas Klutznick to create a dynamic urban core for the Desert Ridge area and the North East Valley. The development is home to exceptional restaurants, office space, residents, and office space. It is multi dimensional in scope and has an emphasis on sustainable living. Northeast Phoenix Partners has pledged CityNorth as collateral instead of a cash bond which is typical when appealing a ruling. The transfer of ownership is far from certain since there are numerous legal hurdles that still might result in the verdict being over turned.

City North

City Center of City North

New to market

2010-10-13T21:31:00.000-07:00

New to market This is a fantastic 3 bedroom 2 bath home with beautiful back yard with flag stone patio, fountain and pool. This home has been completely updated. Custom multi toned paint, flooring, master bathroom, pool re-plastered, etc. High ceilings bright and open this home is perfect and ready to move in. It is located in a beautiful neighborhood close to freeways. Hurry this one will not be on the market long. This is not a short sale or bank owned and it can close quickly. This home is located close to Peoria sports complex.

ASU: Housing, commercial real estate prices slip again – Phoenix Business Journal

2010-10-06T20:22:00.000-07:00

ASU: Housing, commercial real estate prices slip again – Phoenix Business Journal

Housing Market Statistics

2010-10-06T11:19:00.000-07:00

Housing Market Statistics Phoenix residential housing market statistics are up. Check them out to stay up to date on what is happing in your area.

New HUD program offers up to 24 months of mortgage assistance to unemployed

2010-10-06T10:08:00.000-07:00

New HUD program offers up to 24 months of mortgage assistance to unemployed This program may provide much needed assistance to those who qualify.

SRP out of money for solar-power rebates

2010-10-04T18:12:00.000-07:00

SRP out of money for solar-power rebates and what you need to know if you are thinking about going solar.

Register by today to vote Nov. 2; capitol hosts drive

2010-10-04T12:15:00.000-07:00

Register by today to vote Nov. 2; capitol hosts drive Today is the last day you can register to vote in the upcoming elections. You do not want to miss out. You are able to register on line.

Bank of America suspends foreclosures

2010-10-03T08:58:00.000-07:00

Bank of America suspends foreclosures

Phoenix Real Estate: Where can you buy for $150,000?

2010-10-02T19:05:00.000-07:00

Phoenix Real Estate: Where can you buy for $150,000?

Weekend events for kids in Arizona

2010-10-01T08:24:00.000-07:00

Weekend events for kids in Arizona Things to do for families and great seasonal opportunities for fun!

20 chef-owned restaurants in the Phoenix area

2010-09-24T19:06:00.000-07:00

20 chef-owned restaurants in the Phoenix area If you are searching for something to do and are tired of the usual chain restaurants here are 20 places to try and some are true gems. Also, you do not want to miss the final weekend of Arizona Restaurant Week for fine dining deals. Your stomach will never forgive you.

‘Worst is over’ for housing, analyst says, as Aug. sales rise

2010-09-23T19:56:00.000-07:00

‘Worst is over’ for housing, analyst says, as Aug. sales rise Phoenix metro homes sales may have hit bottom and be poised to rise!

Phoenix Residential Housing Market Statistics For 9/23/10

2010-09-23T15:54:00.000-07:00

Phoenix Residential Housing Market Statistics For 9/23/10 Check back daily for updated statistics. I strive to keep you informed of market values in the Phoenix metro area.

Prestigious Grayhawk Short Sale Opprotunity

2010-09-22T13:34:00.000-07:00

Prestigious Grayhawk Short Sale Opprotunity Fantastic 2 bed 2.5 bath gated community home for sale Grayhawk, both guard and gated. Golf course community, community pool, clubhouse, tennis courts. This is a fantastic deal.

Property Virtual Tour

Housing Market Statistics

2010-09-21T20:23:00.000-07:00

Housing Market Statistics Phoenix residential housing statistics for 9/21/2010

Homebuilder confidence holds at 1-yr low

2010-09-20T18:22:00.000-07:00

Homebuilder confidence holds at 1-yr low The National Home Builder Confidence index remains at 13 the lowest since March of 2009.

Mortgage Update

2010-09-19T16:13:00.000-07:00

Mortgage Update

Housing Market Statistics

2010-09-19T15:53:00.000-07:00

Housing Market Statistics Up to date Phoenix Residential Market Statistics for September 19,2010

Mortgage delinquencies down 5% in August: LPS

2010-09-18T10:41:00.000-07:00

Mortgage delinquencies down 5% in August: LPS

Dept. of Education announces cash for state jobs

2010-09-14T08:26:00.000-07:00

Dept. of Education announces cash for state jobs

This Weeks Mortgage Update

2010-09-11T17:55:00.000-07:00

This Weeks Mortgage Update "ACTIONS SPEAK LOUDER THAN WORDS." Despite the markets being closed last Monday for Labor Day, there was plenty of market action... and plenty of words from the Fed. So what happened, and what was said? Read on for details.
After the recent 4-month rally in the Bond markets, which has led to some of the best home loan rates in history, money has started shifting over to the Stock market. Why has this happened? Some economic reports have been better than expected in the past few weeks... such as the Jobs Report for August and Consumer Confidence. While that’s great news, it’s important to remember that good economic news - or as has happened recently, better than expected news - often causes investors to move their money out of the safe haven of Bonds to Stocks in the hopes of taking advantage of any gains.
So why does this behavior impact home loan rates? When the economy appears strong or starts to improve, and investors move their money from the safe haven of Bonds to Stocks, a decreased demand for Bonds means that Bond prices move lower. And when Bond prices move lower, it means that Bond yields - and consequently home loan rates - move higher.

9/11 observances throughout the Valley

2010-09-10T18:32:00.000-07:00

9/11 observances throughout the Valley September 11th attacks remembered!

Phoenician readies ballroom for Oct. 1 debut – Phoenix Business Journal

2010-09-10T15:40:00.000-07:00

Phoenician readies ballroom for Oct. 1 debut – Phoenix Business Journal The grand masterpiece of a $40 million dollar renovation for the resort. The Phoenician has long set the standard of luxury in the South West.

9/13-19: Spa Week offers $50 treatments at select Valley spas

2010-09-09T21:22:00.000-07:00

9/13-19: Spa Week offers $50 treatments at select Valley spas Time girls for a spa day. This is one week which has fantastic spa treatment offerings for only $50.

Phoenix housing market lacks supply of homebuyers

2010-09-09T20:53:00.000-07:00

Phoenix housing market lacks supply of homebuyers brought to you by http://phoenixurbanliving.net

Arizona weighs privatization for state parks

2010-09-08T18:14:00.000-07:00

Arizona weighs privatization for state parks
http://www.foxnews.com/story/0,2933,587359,00.html

20 scrumptious spots for brunch

2010-09-06T08:34:00.000-07:00

20 scrumptious spots for brunch

Centerpoint condos sold for $30 million

2010-09-05T03:50:00.000-07:00

Centerpoint condos sold for $30 million

Deals: Moon Valley, Wildfish Seafood, Don & Charlie's

2010-09-02T22:42:00.000-07:00

Deals: Moon Valley, Wildfish Seafood, Don & Charlie's Some great deals that are available this weekend.

Luxury Townhome in Central Phoenix

2010-09-02T06:57:00.000-07:00

Luxury Townhome in Central Phoenix Energy efficient solar energy gated commuity town home for sale. This home is completely remodeled, 2 bed/2bath with blue granite jacuzzi.

Pointe Hilton Tapatio heads to auction – Phoenix Business Journal

2010-09-02T06:54:00.000-07:00

Pointe Hilton Tapatio heads to auction – Phoenix Business Journal Valley destination resort and golf course goes on the auction block.

Organized homework space matters

2010-08-27T15:27:00.000-07:00

Organized homework space matters Your child's home work space needs to be simple, organized and functional.

Grand Canyon's future at 'grave risk,' report says

2010-08-24T19:48:00.000-07:00

Grand Canyon's future at 'grave risk,' report says

Primary voting: What you need to know

2010-08-24T08:54:00.000-07:00

Primary voting: What you need to know

“Bad politicians are sent to Washington by good people who don't vote.”

William E. Simon

Be sure you get out and vote!

Grocery stores face big-box competition - Phoenix Business Journal

2010-08-23T21:40:00.000-07:00

Grocery stores face big-box competition - Phoenix Business Journal

Give and Get is Here!

2010-08-23T11:02:00.000-07:00

Give and Get is Here!: "Enjoy 30% off from August 26-29 at Gap, Banana Republic and Old Navy and we'll donate 5% of what you spend to a non-profit."

Hot spots to dine solo in the Valley

2010-08-23T05:29:00.000-07:00

Hot spots to dine solo in the Valley Some times you need to dine solo, and here are some places that offer counter dining which allows you to interact with other guests, and enjoy great food.

Feed-in tariff to aid solar weighed

2010-08-22T16:02:00.000-07:00

Feed-in tariff to aid solar weighed

2010-08-22T16:01:00.000-07:00

Feed-in tariff to aid solar weighed

Arizona gifted students benefit from programs across Valley

2010-08-21T21:24:00.000-07:00

Arizona gifted students benefit from programs across Valley

Comfy Chandler retreat for jet-setting couple

2010-08-20T21:14:00.000-07:00

Comfy Chandler retreat for jet-setting couple

Camelback parcel once eyed by Donald Trump to be sold - Phoenix Business Journal

2010-08-19T21:35:00.000-07:00

Camelback parcel once eyed by Donald Trump to be sold - Phoenix Business Journal Prestigious property to go at auction because loan default.

Arizona's unemployment rate unchanged at 9.6 percent

2010-08-19T20:56:00.000-07:00

Arizona's unemployment rate unchanged at 9.6 percent Arizona pummeled by the bad economy.

Homebuilder confidence sinks for 3rd month

2010-08-17T18:31:00.000-07:00

Homebuilder confidence sinks for 3rd month

Editorial: Stop failing Arizona; Start fixing immigration

2010-08-16T18:16:00.000-07:00

Editorial: Stop failing Arizona; Start fixing immigration It is time for us to have real leadership both at home in Arizona and Washington. Politicians need to stop grand standing and fix the problems with real solutions. Solutions that are respectful of the hispanic people who have come here and been quality citizens and sought out a better life like that of many immigrant populations of our heritage.

Arizona to change how it evaluates schools

2010-08-16T07:47:00.000-07:00

Arizona to change how it evaluates schools A new standard for measuring school success was signed into law in May and is due out for the end of this school year. The labels of Performing, Highly performing, etc do not effectively evaluate school performance. For the 2009-10 school year nearly 30% of our schools did not meet the adequate progress on national standards according to the Arizona department of education. This move will change the evaluation of schools to similar grading as students. Arizona currently has some of the lowest levels of student percentages that rank at or above the level of "basic." This is a much needed step to increase competition for our schools to strive for excellence.

Virtual home staging cheaper way to go

2010-08-15T21:36:00.000-07:00

Virtual home staging cheaper way to go an interesting alternative to having your home staged. Research shows that staged homes sell faster and for more money than non staged properties.

Phoenix's five-star restaurants

2010-08-14T21:52:00.000-07:00

Phoenix's five-star restaurants

Phoenix has become a hub for unique culinary restaurants, and we are not talking about the restaurant chains of suburbia. You will not be disappointed with any of these places. They feature fabulous food.

Happy Clients

2010-08-14T18:33:00.000-07:00

Quiz: How well do you know Phoenix, Arizona?

2010-08-14T15:36:00.000-07:00

Quiz: How well do you know Phoenix, Arizona?

Now is the time to buy in the luxury market

2010-06-09T19:00:00.000-07:00

Now is the time to purchase that luxury home for a bargain price. Three years into this housing slump luxury homes are beginning to see steep discounts. Despite the beginnings of an economic recovery buyers are struggling to come up with the money for the large down payments and qualify for big jumbo mortgages. With homes languishing on the market sellers are beginning to capitulate by cutting prices to move their properties.

The million plus market seems to be ripe for falling home prices. Until now the drops in real estate have been primarily the lower end properties. The miss match of supply and demand is highest in the million plus market. The best deals will be on homes that might need a bit of work or are not in the most highly sought after locations.

Many finance experts suggest not waiting and predict that mortgage rates are due to rise form the historic lows that are being offered today. The result is that buyers with access to lots of cash can find some fabulous deals right now on the home of their dreams that might not have been attainable three years ago.

Phoenix showing signs that construction is turning the corner

2010-05-13T20:32:00.000-07:00

Both residential and commercial construction have remained stagnant for the past two years, but Phoenix is finally showing signs of a turnaround. According to Scott Macpherson, principal of Ryder Levett Bucknall construction is gaining ground again. Construction numbers showed strength in the first quarter of this year. This is good news for Arizona real estate. Maricopa, Pinal and Pima counties all showed impressive double digit gains. The Phoenix market appears to be turning the corner with sales up about 2% for the month of April over last years numbers. If you are thinking about purchasing a new home now is most certainly the time to buy. Homes values abound and rates are still near historic lows.

2010-04-03T21:28:00.000-07:00

In years past living large was the trend or at least as large as one could afford. The current trouble in our economy has changed these priorities for many Americans. The average home size is shrinking for many American families, however these families still want to live well.re are 12 trends that reflect the current choices trends and aspirations of families. The number one trend is induction cooking, which is note worthy because it 30% more energy efficient than gas or electric. The number three spot is led by energy sipping not guzzling refrigerators. If you are thinking about replacing you refrigerator buying an energy star appliance may qualify you for a utility rebate, not to mention the energy and money savings. Energy star refrigerators use approximately 20% less energy than not energy star appliances, and if you replace that fridge you bought in the 80s you will most likely save about $100 dollars a year in energy costs by replacing your fridge with an energy star appliance.

Number four trend is stone or composite sinks which blend seamlessly into the counter top for a clean look. The reason for their popularity is they are more durable and easier to clean. Serene color is now the trend and takes up the number five slot for home trends. Ranking number six is home offices. The trend is to maximize smaller spaces and in many instances a home office helps one to do that and take a home office tax deduction.

Number seven is varied wall treatments besides paint. Wallpaper is making a comeback, but wallpaper is not your grandmothers wallpaper any more. There are many different types of textures or even enlarge photos and murals that can be put on walls.

Number eight is do it yourself home projects. The DIY trend is actively growing as many homeowners are looking to upgrade their spaces while saving money by doing it themselves. Many watch popular programs on HGTV and DIY network.

Number nine is a continuing trend in out door living by adding privacy to out door spaces with curtains. Out door curtains can screen out the late afternoon sun saving energy or help screen out nosey neighbors.

The number 10 trend is environmentally friendly and healthy toilets. Todays new toilets can wash and dry you. Many also offer dual flush modes which helps to save water. Some of these toilets even take away smell.

The last two trends are HD TV and creating a home relaxation retreat. Some of these current trends will undoubtedly die with time, but others may become the main stays of the American home.

Metro Phoenix Home Prices Could Drop Again!

2010-03-21T12:54:00.000-07:00

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

2010-03-16T02:54:00.000-07:00

Michelle's Phoenix Blog

Come Experience Phoenix Down Town Unique Cultural Renascence

2010-03-08T07:13:00.000-08:00

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.

The Greatest Show on Grass!

2010-02-23T08:40:00.000-08:00

This coming week Feb 22 thru the 28^th marks the start of the Phoenix Open. The event is hosted at the TPC in Scottsdale, but is a landmark event for the Phoenix area and was originally called the Arizona Open. Tbe Phoenix Open originally alternated play between the Phoenix Country Club and The Arizona Country Club. In 1975 the event moved to the Phoenix Country Club exclusively till 1987 when it was moved to its current home at the TPC. The Phoenix Open is one of the five oldest events on the PGA tour marking its 75^th year in the Phoenix area. It is deeply a part of Phoenix history.

Ever wonder what it would be like to hit a shot at the 16^th hole, which is a famous par 3 hole for the TPC commonly called “the shot at glory.” The lucky two will get their chance along with local celebrities, and Hollywood stars like,” e Ray Ramano & Josh Duhamel they will all tee up for a closest to the pin contest all to benefit this years charity the Wounded Warriors Project. Which is a charity that help wounded vets who come home with readjustment challenges and support them when they return home by helping them heal from all they have went through.

Tournament host will give 100k to each charities chosen by each competitor, and if a competitor makes a hole in one then 1 million dollars will be given to the charity of their choice. It is a fantastic event to go see and a great way to spend some time in our beautiful spring weather enjoying the Arizona Sun we are famed for.

It is Phoenix Historic home tour time again!

2010-02-13T18:45:00.000-08:00

It is Historic Home tour time in Phoenix again. This weekend on 2/14 10 am to 4 pm. Launches the home tour season with the Willow Home Tour and Street Fair. The tour is in the areas of Central to 7^th Ave and Thomas South to Mc Dowell Rd. These homes are charming and range in diversity from Tudor style, Bungalow, Spanish Revival, to Ranch style homes. These homes were built between the early 1900’s and up to the 1940’s. You can purchase tickets in advance at willowhistoricdistrict.com on the day of the tour 3^rd AVE and Holly.

Feb 28^th will be the Friends of Mexican Art Tour. This tour will feature three homes, which will feature private art collections that have been collected from their travels around the world. Tickets can be purchased at Fiesta Furnishings for $50 to purchase the day of call 480-275-5746.

Feb 28^th will also host the Coronado Home Tour. This tour will feature homes between South of McDowell between 7^th and 18^th street that were built between 1930 and 1940.

Coming up in March will host the Windsor Square Historic Home and Garden Tour on 3/7. Then in April the valley will feature the April the Modern Phoenix Home Tour on 4/11. The Modern Home Tour will feature a 1960’s subdivision called Paradise Gardens, and will feature homes influenced by the famous Arizona architect Al Beadle.

These tours are a great way to get to know the beautiful city and the influences from years past. One must understand the past to look toward the future. Our city center is in the midst of a Renaissance. Not to mention it is a great way to spend a weekend during our glorious spring weather that cannot be beet in the Valley of the Sun. www.metrophxrealestate.com your Metro Phoenix real estate resource.

Metro Phoenix Market Update For January 2010

2010-02-03T21:59:00.000-08:00

January marked the 2^nd highest sales of 4704 transactions second only to January 2005 with 6589 transactions. In the Phoenix area 46 percent of all the sales in January were lender owned properties, 23.6 percent were short sales and 30.4 percent were regular transactions.

Single family detached homes within the range of price $75k to 125 k appears to be weakening this represents 26.3 percent by unit count which is a significant part of the market. While prices from 150k to 600k appear relatively strong.

Within the month of January there were 6752 notices of foreclosure filed and this represents the lowest monthly total since Nov 2008.

All information was obtained from the Cromford Report and ARMLS

First Time Home Buyer Tax Credit

2009-05-19T10:37:00.000-07:00

On Monday 5/18/09 Federal officials reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.

In an earlier decision last week, HUD had told the National Association of Home Builders that it would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers who qualify for the tax credit. Many industry leaders reacted favorably to this proposal saying that it would open up the market to many more 1^st time home buyers.

Under the current program first time home buyers of principal residences may qualify for up to a $8,000 tax credit for purchases between January 1, 2009 and December 1, 2009. To define a first time home buyer under the current plan you can not have owned a principal residence within the past three years. You could have owned a vacation property and still qualify for the tax credit. This credit is refundable and there fore can be used by those who do not have a lot of tax liability. Participants in the program also have to keep the home for a minimum of three years or they may be required to return the tax credit.

There are income limits on this program. Single buyers need an adjusted gross income of $75,000 or less, and married couples an adjusted gross income of $150,000 gross income or less. Those who earn more than this still may qualify for a reduced tax credit, as always for questions please consult your tax advisor for your income eligibility.

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