ReZamp Real Estate

Friday, October 23, 2015

OCTOBER 2015 STAT - Phoenix Market Statistics

Markets stats for Phoenix has been released by ARMLS . We are into our seasonal downtown and houses are sitting longer.  Even though the Cromford Index is not seasonal, we are also seeing a downtown.  The big question is will it track like 2013 or 2014.  Right now, its looking more like 2013 which means a "fair" spring season versus a great one like we had last year.  




"Fall has started and while the temperatures may not reflect the season, we are well into seasonal patterns for our market." - Person from ARMLS




ARMLS® COPYRIGHT 2015

Monday, October 12, 2015

Show Appeal Realty - October 2015 - Market Update

Here are Show Appeal Monthly meeting notes and slides.

Cromford Index shows a decline now so we are waiting to see if it follows 2013 or 2014 trend-line. 



Market Update (Brandon Hunt)
  • Active Listings
    • Current: 23,816
    • Last year: 26,917
    • Down 13% from last year
    • Up 1.9% from last month (23,001)
      • Not a flood by any means, but new listings are still hitting the market
  • Pending Listings
    • Current: 5,931
    • Last year: 5,584
    • Up 5.9% from last year
    • Down 5% from last month (6,230)
      • Significant drop month-over-month. Signifies a big drop in demand, and I'm worried about the negative trend line it might be creating going forward.
  • Monthly Sales
    • Current: 6,603
    • Last year: 5,964
    • Up 9.7% from last year
    • Down 12.9% from last month (7,425)
    • Nothing new, but look at the drop in sales between November & December! This graph is a good one to show your buyers and sellers. (See the slide deck download link)
  • Sales Price per SqFt
    • Current: $132.87
      • Right where it should be
      • Show your buyers how this compares to 2005 when it was $180+/sqft so they can see exactly how affordable it is right now. (See the slide deck download link)
    • Last year: $126.23
    • Up 5% from last year
      • Another great point for your buyers & sellers to show not only that the Phoenix market has appreciated 5% since last year, but for your buyers to show that Phoenix real estate is a good investment.
    • Even from last month ($132.81)
  • Months Supply
    • Current: 3.5
    • Last year: 4.3
    • Drop of 23% fromt last year
    • Up 11% since last month (3.1)
  • Days on the Market
    • Current: 115
    • Last year: 123
    • Drop of 6.9% from last year
    • Drop of 1.7% since last month (117)
      • Overall the average DOM is staying steady
  • Cromford Index (CI)
    • Current: 141.9
    • Last year: 107.6
    • Up 24% from last year
    • Down 4.5% since last month (148.3)
    • The CI is the best forecaster of where the market is headed, and doesn't factor in seasonality, which gives us a truer feel of the market
    • The issue that we are seeing right now is a negative CI trend line, which means we could be heading into a soft market in Q1-2016, and possibly all of 2016. This is reminiscent of the negative trend line we saw in late 2013 that led to a very stagnant/flat market in 2014.  So I'm pushing on the brakes in regards to purchasing, and waiting to see what the CI shows over the next 30 days.  If the trend line continues in the negative direction, then it makes the most sense to really pull back on purchasing, and at the very least reduce expectations for Q1-2016.
  • Summary and Q&A
    • Overall demand is weakening
    • Top end of the market ($800K+) is cooling
    • Question on elections
      • It definitely creates uncertainty which means buyers & sellers are more inclined to sit on the fence, but doesn't expect it to be a major impact.
    • Question on buy & hold strategies
      • Never a bad idea, especially if you can count on a 5% annual appreciation in the home's value. But it really comes down to the CAP rate, 7% is the minimum worth considering.
    • VRBOs = great cash flow, and worth looking into for specific markets:
      • Sun City (rented out most of the year, and usually slightly longer terms like weeks and full months)
      • East Mesa (furnished condos run $1800+ per month and are rented out 100% from November through April)
      • Page (3-million visitors a year during the high season)
      • VRBOs have their downsides including transient renters, but the cash flow can be great, and in certain areas you can have the property rented out for a longer portion of the year.

Wednesday, September 23, 2015

Fixer Upper $95K Spread! - Tempe with a Pool!

ReZamp Flip Opportunity
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2413 S. Allred, Tempe, AZ 85282

Call or Text Alan - 602-820-8164

  • Wholesale Price $199,950
  •  4 Bed | 2 Bath
  •  1800 Square Feet
  •  1976 Year Built
  • Viewing Instructions - Tenant Occupied, drive by only!
Description
Nice Tempe house that needs full remodel.
 
Comps:  $285K-$295K
2431 E Wesleyan Drive, Tempe AZ 85282 - Sold 300k on 7/16/15
2605 E Geneva Drive, Tempe AZ 85282 - Sold 310K on 8/20/15
2507 E Fairmont Drive, Tempe AZ 85282 - Sold 270K on 9/22/15 - No Pool!
Private Money Available at 10% down and 15% Interest Rate

All prices are net amount to seller; buyer pays all closing costs.  Prices are based on quick closing in 10 days or less.  Properties are being sold "as-is" and "where-is".  Buyer is responsible for their own due diligence. ReZamp may or may not currently own the properties being marketed and may be marketing the equitable interest however great or small in the given properties.  (Without any warranty or representation other than its is the buyer under the subject contract) its contract rights as buyer of such property. The members of ReZamp are licensed real estate agents in the State of Arizona


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Phoenix Area - September 2105 Real Estate Market Stats

The Phoenix Real Estate Market continues to slowly recover and I expect a strong fall season followed by a strong spring season.  I intend to buy aggressively through the holiday season and bank on making good profits in Spring.  Between this report and the Cromford Index, all signs point to a steady market.  Time to buy, buy, buy!

"Our housing market continues to show slow and steady improvement. On a year-over-
year basis distressed inventory is down, foreclosures are down, traditional buyers are up, purchase money mortgages are up and new construction is up."



ARMLS® COPYRIGHT 2015


Wednesday, September 16, 2015

👊💍🌵High End North Scottsdale - Easy Flip - 🌄💲🎯

32956 N. 69th St, Scottsdale, AZ 85266

Call or Text Alan - 602-820-8164

  • Wholesale Price $359,950 - Worth $435K+
  •  2 Bed | 2 Bath - Can easily convert to 3 bed
  •  1670 Square Feet
  •  1994 Year Built
  • Viewing Instructions - Vacant, call for access.
Description
Easy flip opportunity.  Convert den to bedroom.  Replace carpet in great room with wood flooring.  Paint and carpet.  Home already has SS appliances, granite and nice cabs.  Upgrade backyard.  Premium lot, no neighbors behind.
Comps over $435K+
6968 E Sienna Bouquet Place, Scottsdale - Sold $425K - Interior lot.
32944 N 70th Street, Scottsdale - Sold $450k - Has Pool
32804 N 69th Street, Scottsdale - Sold $485k - Has Pool and on Golf Course
Private Money Available at 10% down and 15% Interest Rate

All prices are net amount to seller; buyer pays all closing costs.  Prices are based on quick closing in 10 days or less.  Properties are being sold "as-is" and "where-is".  Buyer is responsible for their own due diligence. ReZamp may or may not currently own the properties being marketed and may be marketing the equitable interest however great or small in the given properties.  (Without any warranty or representation other than its is the buyer under the subject contract) its contract rights as buyer of such property. The members of ReZamp are licensed real estate agents in the State of Arizona


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Show Appeal Realty - Market Stats - September


Here are some great slides from the latest Show Appeal Realty meeting.  The market looks very similar to last year which (hopefully) means another strong Spring Season.  Notice the difference in the Cromford Index from 2013 vs. 2014 vs. 2015.  As an investor, I will be buying a lot this winter in hopes of another good spring.  Good luck!



Wednesday, September 9, 2015

Ahwatukee Flip - Easy Convert to 3 Bed

12218 S. 45th St, Phoenix, AZ 85044

Call or Text Alan - 602-820-8164

  • Wholesale Price $179,950
  •  2 Bed | 2 Bath (easily convert to 3 bed)
  •  1436 Square Feet
  •  1989 Year Built
  • Viewing Instructions - Vacant, Call For Access - Contract can be assigned or double close.
Description
Dated, but in good shape.  Needs flooring, cab refinish, granite, convert den to 3 bedroom.  Perfect timing with snowbirds coming back.  Brand new washer/dryer, fridge, microwave, and dishwasher.

Comps to $240K.

4368 E CHEROKEE ST, Phoenix, AZ 85044 - Pending 230K - No Tile Roof
11814 S KI RD, Phoenix, AZ 85044 - Pending 245K - 6 DOM
4146 E WALATOWA ST, Phoenix, AZ 85044 - $240K - Only 1252 sq.ft.

Need to go back 1+ years to get same neighborhood comps:
12253 S 44TH CT, Phoenix, AZ 85044 - Sold 220K - Model Match (9/8/14) - Not updated.
12405 S 44TH ST, Phoenix, AZ 85044 - Sold 220K (3/24/14) - Model Match - Not updated
Private Money Available at 10% down and 15% Interest Rate

All prices are net amount to seller; buyer pays all closing costs.  Prices are based on quick closing in 10 days or less.  Properties are being sold "as-is" and "where-is".  Buyer is responsible for their own due diligence. ReZamp may or may not currently own the properties being marketed and may be marketing the equitable interest however great or small in the given properties.  (Without any warranty or representation other than its is the buyer under the subject contract) its contract rights as buyer of such property. The members of ReZamp are licensed real estate agents in the State of Arizona


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