Michael Fitzpatrick

We get literally 50-75 inquiries a week in regards to urban real estate in the Phoenix area. Of these, many people do not take the time to understand their own needs/requirements, limitations and goals. We take allot of time upfront to better understand what is truly important and what fits your life, finances and dreams. This allows us to better position property that best suites your needs and eliminate the properties that work against those needs. First and foremost, people need to understand their fiances both today and the future along with what their life may look like (marriage, career move, more travel, children, etc...). Next they (you) need to like the area and the area needs to support their interests and quality of life. Next they (you) need to find a home that functionally works for you today and tomorrow. Next, a good sound investment (not at the expense of quality of life--i.e. the ole' "I can get more home in Buckeye"--see where that left you?!?). We do this all day, everyday and we have a great sense and ability to help you navigate these decisions. Let us help you. Thanks! M.

We are starting to see challenges in the urban market that we haven't seen for sometime. The are several challenges arising but I would like to talk about one. Now before I continue let me say this is not true of all products types and areas. This is really project by project depending on when it was marketed, built (or converted) and sold. As a by product of the housing boom in 2005 and all the speculative buying, investors are now upside down in certain developments along with home owners who bought at the peak. These properties most likely will go down the path of a potential foreclosure, short sale or hopefully (for primary homeowners) a loan modification. As far as the foreclosure and short sale properties, owners stop making their payments thus stop making their HOA fee payments (this includes the banks who take the property back). What happens is the HOA delinquencies go beyond the 15% max delinquency rate required by Fannie/Freddie. In return, no bank will loan on the property since they can't sell the loan on the secondary market to Fannie/Freddie thus making the loan illiquid. This in turn causing the problem to exacerbate. For more insight on this challenge, properties that have this issue and more 'under tow' issues, give us a call. Thanks! M.

We get many inquiries a day from people locally and around the world asking about specific properties that they have seen on-line. This one dimensional view is very misleading since it assumes all things are equal when they are not. I always try to instruct potential buyers to spend time in a community, getting to know the area and neighborhoods before they focus on specific properties. If you don't like your neighborhood, most likely, no matter how much you love the home, you will not be happy. This is a key component of truly working with a buyer. Know what is important to their overall life not just what they like in counter tops. We very much understand the areas and districts, the current trends and future trends, political climate, public initiatives and more. This will truly help the buyer determine which property fits their overall life. Give us a call. Thanks! M.

Many people looking for unique urban infill projects in Scottsdale like the kind you find downtown Phoenix and Tempe will be very impressed with SL 12. This project is a cool, modern 12 unit "U" shaped development just south of the Valley Ho and is only a couple blocks from the heart of Old Town. These units range from 600-2000 sq. ft. and priced from 180-599K. As you know, I'm a fan of the smaller, more unique infill projects for many reasons and this project fulfill's a need in Old Town. Take a look: www.phoenixurbanliving.com/oldtowninfilllofts.html and give me a call. Thanks! M.

Lately, Optima Camelview has seen the amount of product and pricing pressure accerlate. This is now attracting allot of buyers to the community. Always seen as the 'value' choice in Old Town (how $450 a foot is 'value' is beyond me), it's now becoming a smart move for first time home buyers, empty nesters and second homes. It also has some of the most reasonable HOA's (25 cents per ft) and some of the nicer amenities. If you haven't looked in a while you might want to take another look at Optima Camelview. Take a look at www.phoenixurbanliving.com and give me a call. Thanks, M.