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Bob Hertzog Phoenix Short Sale Agent, Designated Broker

Phoenix Real Estate Market Report-February 2012-Can You Say "Sellers Market"?

Phoenix Real Estate Market Report-February 2012-Can You Say "Sellers Market"?

Total sales for February of 7,249 represented a 12.3% increase from January. At the present time, there are only 15,648 homes that are currently active on the market in Maricopa County, which has approximately 1.4 million homes. This lack of supply is hurting the overall number of sales metric, but is helping the market in many other ways, which I will go over in this months report.

ARMLS recently released the numbers for February/2012 in their monthly STAT Report, and the results are very positive. Here is a breakdown of what happened in February in the Metro Phoenix Real Estate Market:

Sales (Month over Month)- As stated above, sales were up 12.3% (compared to January), with a total of 7,249 closed listings. Advantage: Seller

Sales (Year over Year)- February/2012 sales of 7,249 were up 1.3% over the February/2011. Anything over 7,000 represents a robust market. Advantage: Seller

New Inventory- We saw a downturn in new listings hitting the market, decreasing by 9.7% over January (8,884 new listings hit the market in February). That being said, remember that as of today, there are only 15,648 active listings on the market, and 8,884 were listed in February/2012. Supply continues to be a major problem for buyers in today's market. More on this later. Advantage: Seller

Read the rest of the Phoenix Real Estate Market Report for February 2012....

Fannie & Freddie Executives Get $12.79 Million In Bonuses...For What?

As a Phoenix short sale agent, I follow the goings-on of Fannie Mae pretty closely. I’m fascinated by the give and take of power, and the flow of big money to solve (or worsen) problems within the housing market. And Fannie Mae is in the middle of it all.

Fannie Mae Has Sprung a Leak… a BIG One

Fannie Mae is leaking money faster than the U.S. Postal Service. In Fannie’s case, however, when they lose money, they show up on Uncle Sam’s doorstep like a lazy brother-in-law who won’t work. Instead of begging to sleep on the couch for “a few days”, Fannie Mae asks for cash – a ton of it.

While this isn’t the first time Fannie Mae has asked for cash – since 2008 you and I, through the generosity of the federal government – have forked over about $170 billion to cover operational losses incurred by Fannie Mae and her evil brother, Freddie Mac. While the $4.6 billion Fannie Mae is asking for is just a fraction of the amount we’ve been asked to give them since 2008, it highlights a harsh reality: this organization doesn’t seem to know the first thing about managing money.

Continue reading about the Fannie Mae & Freddie Mac executive bonuses...

McCormick Ranch AZ Monthly Real Estate Report-February 2012

McCormick Ranch is what I like to call "Classic Scottsdale", located in the 85258 Zip Code. Because 85258 is home to what is considered to be the best school district in Arizona (Scottsdale Unified School District), and offers such amazing dining/shopping opportunities and miles of walking/biking trails along it's many greenbelts within the community, this area has become extremely popular for people looking for their next home. Add to that it is proximity to the Loop 101 Freeway, and you get the perfect combination when looking for your next home. The 85258 zip code is commonly referred to as McCormick Ranch, and for the purposes of this report, I have included all real estate activity that has occurred in the past month within 85258.

Read the rest of the McCormick Ranch AZ Homes Monthly Real Estate Report for February 2012...

Kierland AZ Homes Monthly Real Estate Report for February 2012

Kierland is an amazing area, located in the "magical" 85254 Zip Code of Scottsdale, AZ. Because 85254 is home to what many consider to be the best school districts in Arizona (Scottsdale Unified School District & Paradise Valley Unified School District), and offers some of the best dining/shopping opportunities at the nearby Kierland Commons, this area has become extremely popular for people looking for their next home. Add to that it's proximity to the Loop 101 and 51 freeways, and you get the perfect combination when looking for your next home. The 85254 Zip Code is commonly referred to as Kierland, and for the purposes of this report, I have included all real estate activity that has occurred in the past month within 85254.

Read the rest of the Kierland AZ Homes Monthly Real Estate Report for February 2012...

Desert Ridge AZ Monthly Real Estate Report for February 2012

Desert Ridge AZ is a vibrant 5,700 acre community, located within the Desert Ridge Master-Plan. It boasts incredible desert views,the excelling Paradise Valley School District, an amazing 15,000 square foot community center, and wonderful shopping/dining opportunities at the nearby Desert Ridge Marketplace. Each month, we publish the Desert Ridge AZ Homes Monthly Real Estate Report to allow you to keep tabs on the market in this very popular community.

Subscribe to the Desert Ridge AZ Homes Monthly Real Estate Report to get this report delivered to your inbox on a monthly basis. The report is meant to keep you up-to-date on the latest real estate trends in the community.

Read the rest of the Desert Ridge AZ Monthly Real Estate Report for February 2012...