Randy Hooker ~ Gilbert, Chandler, Mesa, Queen Creek

A couple of you have contacted me privately to make sure I'm alright. I've not been as active and visible with my blogging lately, but I'm OK! There's one simple reason for my online absence: I'm completely swamped with home buyers. In fact, I haven't seen this kind of buying activity in about 3 years! And I'm not talking about low end bargain hunters; I'm working with clients looking at large horse properties, waterfont estates, gated commuities, golf course homes ~ especially in Gilbert, Chandler, Mesa, Queen Creek and Phoenix. I've also been dealing with many out-of-state folks as well as local buyers ~ and I cannot remember the last time anybody has asked me if we're "at the bottom" of the market. Smart money is on the move, and they are indeed buying!

For those of you that are 'numbers people', take a good look at the following two charts. Not only will you notice a significant decrease in the number of listings on the market (for 3 months running), but you'll see that we just dropped below 7 months of inventory, a level we haven't seen in perhaps 3 years, with home sales almost doubled from a year ago.

I'm not one to try to prematurely call the bottom of ANY market, but there are several key indicators that are clearly turning positive. Is it possible that we are heading into the year of the turnaround in the great Phoenix area?

Following is a graphic illustration of the current real estate market conditions in the greater Phoenix area, which encompasses the entire Valley of the Sun, including Gilbert, Chandler, Mesa, Queen Creek and Phoenix, Arizona.

Chandler Homes - Gilbert Homes - Mesa Homes - Queen Creek Homes - Phoenix Homes

Data was compiled and provided by the Arizona Regional MLS (ARMLS)

1 Eastbound Loop 202 (Red Mountain Freeway) narrowed to two lanes between Priest Drive and Scottsdale Road for widening project. Eastbound Loop 202 on-ramp at Center Parkway also closed. 4 a.m. to 6 p.m. Saturday (March 28)

2 Northbound I-17 closed between Happy Valley and Jomax roads for widening project. Traffic will use frontage road and re-enter northbound I-17 via the Jomax Road on-ramp. 9 p.m. Friday to 7 a.m. Saturday (March 28)

3 Northbound I-17 on-ramp at Happy Valley Road and off-ramp at Jomax Road will close for approximately two months starting Friday night for freeway reconstruction work. Traffic will be able to use ramps at adjacent freeway interchanges. 9 p.m. Friday - Approximately May 27

4 Westbound US 60 (Superstition Freeway) on-ramp at McClintock Drive and off-ramp at Rural Road closed for widening project. Westbound right lane also closed between McClintock and Rural. Same restrictions overnight Monday through Thursday evenings next week. 9 p.m. Sunday to 5 a.m. Monday (March 30)

Have an Outstanding Weekend!

Phoenix Homes ~ Gilbert Homes ~ Chandler Homes ~ Mesa Homes ~ Queen Creek Homes

Enjoy Art, Culture, Science and Fun at Spring Family Celebration

Spring into the season at the annual Queen Creek Spring Family Celebration! Bring the

family and enjoy a colorful combination of art, culture, science and fun in this all-in-one community festival.

This free event will be held from 10 a.m. to 2 p.m. on Saturday, April 4 at Desert Mountain Park, 22201 S. Hawes Road, Queen Creek, Arizona.

Kids of all ages will be caught up in the excitement of a variety of activities. Get the family up and moving for the Family Fun Run/Walk, a child, stroller and dog-friendly 2-mile course.

In the fourth annual Queen Creek Salsa Challenge, individuals will compete for the title of “Queen Creek’s Best Salsa,” and a public tasting will be held with proceeds going to support the Queen Creek Family Resource Center’s Diaper Drive. Salsa Challenge applications and Family Fun Run registration forms are available at the Queen Creek Parks & Recreation office, 22350 S. Ellsworth Road.

This annual community tradition also offers exciting egg hunts, an interactive children's Discovery Zone, amazing performers on the Cultural Rhythms entertainment stage, a Tot Spot area for children ages 4 and younger, inflatable attractions and craft and food vendors.

Spring Family Celebration is sponsored in part by the National Endowment for the Arts and Arizona Commission on the Arts, Barney Family Sports Complex, SRP, The UPS Store, Custom Dream Homes, and The Queen Creek Tribune. For more information, visit www.queencreek.org or call the Queen Creek Parks & Recreation Department at 480-358-3700.

Queen Creek Homes

Standard and Poor's (S&P), a globally recognized credit rating agency, has increased the Town of Queen Creek's bond rating from "A-" to "A."

In addition, S&P raised the Town's financial assessment from "standard" to "good."

"Having S&P increase the Town's bond rating from an 'A-' to and 'A' is very good news for our community," said John Kross, Queen Creek Town Manager. "The higher rating means that the Town's overall rating increases slightly from its current 'A-' status. This rating adjustment is a strong indicator of the Town's overall financial health."

The Town adopted a balanced budget for 2009 and has over $2.3 million in emergency funds set aside for this year to pay for any unseen events. Its general fund reserve and debt policies also received recognition from the rating agency.

Queen Creek was one of nine municipalities regionally that received an upgraded rating.

Queen Creek Homes

This is definitely not news to most people, but considering the number of questions I'm still receiving, it seems like a review and recap might be a good idea.

The “American Recovery and Reinvestment Act of 2009” passed the House and Senate on February 13, 2009, and was signed by President Obama on February 17, 2009.

The bill is a $780 billion package, roughly one-third of which is dedicated to a home buyer credit.

Here are the highlights:

1. 

   The tax credit is for first time home buyers, with a "first-time home buyer" defined as a person who has not owned a principal residence during the three-year period prior to the purchase.

2. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000, and does not have to be repaid as long as the home is not sold within 3 years.

3. The tax credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.

4. Single persons with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

5. The credit must be claimed on a federal tax return to reduce the buyer's income tax liability. Any remaining unused credit will be refunded to the buyer.

Below is a summary chart of the tax credit, along with a side-by-side comparison to the 2008 tax credit.

Inasmuch as this is a tax related issue, and I am neither a tax accountant or a tax attorney, you should consult with a tax professional regarding your specific situation and benefits.

Gilbert Homes ~ Chandler Homes ~ Mesa Homes ~ Queen Creek Homes ~ Phoenix Homes