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2019 First Half Real Estate Market Update

Real Estate Market Update for First Half of 2019

If you are wondering how things in the real estate market have started in 2019, I’d like to share some information with you. Are short sales and bank owned properties coming back? How often do sellers contribute toward buyer closing costs? And what has been happening to residential rental lease rates?

Check out the video below to have these and other questions answered.

Was there something that I missed or didn’t get answered? Please let me know and it may be the subject of my next video,.

Related Posts

2018 Market Update

Reasons Why Houses Don’t Sell

Real Estate Buyer’s Advisory

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Does this Phoenix Residential Lake Allow Boating?

Pecos-Ranch-boating-in-waterfront-community-in-Chandler1-300x207

Determining if a Phoenix lake community allows boating

One of the most frequently asked questions I recieve is “Does this lake community allow boating?”  The second most frequent question is “How big is the lake?”  We’re going to answer both of these questions.  Previously, I’ve attempted to make a list of lakes where boating, kayaking, and canoeing are permitted and which lakes are larger and more conducive to boating.     I’m going to share some tools with you so that you can answer these questions.

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Introduction to Phoenix waterfront property

The Islands Lake at Sunset

Starting your Phoenix area waterfront home search

Not all Phoenix waterfront property is created the same.  Some residential lakes provide ample room for pontoon boats and kayaks, while others have been characterized merely as canals. So do all lake subdivisions allow boating? Do some lakes allow fishing while others do not? And what about the water quality, do all lakes receive water from the same source? Which Phoenix cities have the most lake subdivisions and waterfront homes? If you are curious about any of these questions, read on.

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Community Facility Districts in Phoenix Arizona

What is a Community Facilities District?

A community facilities district is a special taxing district that allows the financing of the installation, operation and maintenance of public improvements such as roads, water and sewer facilities, flood control and drainage projects.  Many well-known communities in Scottsdale, Goodyear, Surprise, Peoria, Buckeye and Mesa have utilized CFD’s to finance the installation and maintenance of infrastructure for specific communities. The bonds associated with the CFD’s become the responsibility of the property owners who benefit from the infrastructure improvements.   How can you find out if your property is located in a CFD? And if it is, what are the taxes for the CFD?

 

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Phoenix, Arizona Lake Communities – Where does the lake water come from?

Sources of water for Phoenix lake and waterfront home communities

Many visitors are amazed that Phoenix has lake communities and waterfront homes since Arizona is in fact a desert.  The next question is obviously, “Where does the water come from?”.   Isn’t this a waste of scarce water resources?   And if you own a waterfront home in one of the Phoenix lake communities, don’t you want to know the source of the water next to your lot?  This may turn out to be another  criteria in your search for a waterfront home.   If you are interested in  the answers to these questions, read on.

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Scottsdale Waterfront Property on Lake Marguerite in McCormick Ranch

McCormick Ranch Waterfront Homes

McCormick Ranch is a well known and desireable master planned community in Scottsdale Arizona.  It offers a variety of condos, townhouses, and single family residences.   Four of the subdivisions that border Lake Marguerite are Palm Cove townhouses, Lakeside Villas condos, and two custom luxury home subdivisions;  Island at McCormick Ranch and Vista Del Lago.

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Phoenix Shadow Inventory Real Estate Numbers

Just because they print it does it make it true?

Congratulations Miami, the 2011 NBA champions! – NOT.  Here it is in print from a Florida newspaper.  I guess they never got the memo or checked the score board.  Just because it gets printed or makes its way onto the internet, does that make it true?  That’s the same way I feel about Phoenix area shadow inventory.  Some of the confusion lies in the definition of shadow inventory.  Obviously,  shadow inventory includes properties that have gone back to the lender but are not on the market.  Some also consider homes that have received a Notice of Trustee Sale with a scheduled auction date.  Some add to those numbers loans that are seriously delinquent which is 90+ days behind.  As you can see, the definition will affect the level of shadow inventory cited by the various experts. There’s also the issue that real estate is local and national commentaries cannot be relevant to individual markets?  Many have stated that shadow inventory is out of control and will contribute to a foreclosure Tsunami.  Now let’s get the facts for the Phoenix area.

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Boating in Phoenix Lake Communities

Waterfront Homes and communities that allow boating

As with a search for any home, Phoenix area waterfront property buyers have their criteria that best describes their dream home.  When describing Phoenix real estate waterfront homes, there is an additional parameter that is often important; a lake that allows boats. Instead of going to a park, a waterfront home owner may decide to go “crusing” around the lake.   Some communities allow boats and some do not.  Most lake communities only allow pontoon boats that are powered by electric motors.  To enjoy a true motor boat ride you’ll have to choose from one of the six water ski communities in the valley.  Even if the community does allow boating, make sure and verify that the body of water to which you’ll have access is large enough for that occasional boat ride. For an updated post on this subject, go to  residential lake communities that allow boating.
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Phoenix area lake communities with a community pool

Waterfront communities with a community pool

Let’s face it, it can be nearly an impossible task to live in Arizona and not grave the relief that a private pool in your backyard can offer.  When it’s 110 degrees outside, you will be convinced it is a must-have.  Even when your Phoenix home is a second or vacation home used mainly during the winter months, pools are an attractive addition to any backyard.  But there may be reasons why you should forgo that luxury and let your community HOA manage that responsibility.

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Charter Schools in Arizona

Charter schools provide an alternative to traditional public schools

One of the many, but very important items on the checklist of things to do for a family relocating to the Phoenix area is researching schools.  Which school is the best school in the area we want to live? Which district is the best? Do they have extra-curricular activities? And the questions go on and on.  These families will also have to add another question that they may not have considered previously, “What about charter schools?” Continue reading “Charter Schools in Arizona”