James Wexler, Scottsdale AZ Luxury Homes (Coldwell Banker)

Drinking coffee, this morning, which I am know to do, in large quantities, and (in exactly this order) waking up which arduously follows, I sit each morning, and flip between the multitude of news channels, and mainline the information from CNBC, CNN, Fox News, ESPN (for AZ sports fans, this is never good news) and start each day and the local news networks, force feeding me the information I thought I ‘need' to be prepared for a day out in the real world.

Most mornings bright and early, it's just me and my loyal (I say this because he always agrees with me) Jack Russell Terrier, Riley, listening to the well dressed and perfectly coiffed news anchor's report on the state of affairs, social , political and otherwise.

However, this morning, when I trudged to kitchen for coffee and sat in front of the television for my daily dose of must-have news, my shall we say, better half, was watching what I call a pseudo-news program like Today or Good Morning America. (and I might add she seemed to be happy)

I silently, (because I don't talk until I have had my first cup of coffee) took the remote in turned to "My" news channels and we watched together for a few minutes until she stood up and said, ,I don't know how you watch this stuff? It's depressing! This is no way to start (or finish) a Day!! And I said, defiantly, "what do you mean??" (probably not the smartest question, because she told me what she meant) Listen to what we had watched and heard, - oil prices at Record Highs, Home prices Plummet, Foreclosures up, stock market drops, Inflation is up, economy is in a recession, McCain is bad for economy, Barak Obama is bad for economy, and Hilary is bad for economy, something about Brittany Spears and my beloved AZ Diamondbacks lose again, ... all in a span of 10 minutes.

Again, I was quiet (mostly due the coffee not having time to work) and thought for few minutes, asked Riley what he thought , he also was quiet, (probably had not had his coffee yet either) and realized that , yes, I can admit it (of course, not to her, and she doesn't read my blog J ) that there may be something to these news channels seems to relish itself to try and quash any glimmer of good new; plenty of which I strongly believe we have plenty.

So I made a commitment to Quit the morning news for 30 days and start the day with coffee (I am only so strong) and a walk and good talk with Riley. Stay tuned. I will let you know how it goes. But so far I feel great

James Wexler

Yes, you are reading correctly. this past march , March, according to John McClean who researched this from the public tax records in Maricopa County , (which includes, phoenix, Scottsdale, Glendale, Tempe, Peoria, Fountain Hills and Paradise Valley)

in fact, throw in a couple of ‘smaller’ home sales for $3,900,000 and another $3,800,000 and you have a total of $34,000,000 (that’s 34 Million) in just 6 homes alone.

Let’s face it, Phoenix, and its surrounding cities like Tempe, Fountain Hills and Scottsdale, Arizona is still a wonderful place to live.

Home values are cheap (when compared to many other resort destinations) and have been getting cheaper (down about 20% from highs).

Interest rates are near historic lows. Stock market is volatile, inflation is high. Where else but real estate can you fix a payment for 30-years not rising against inflation. Not gold and oil and food commodities at all-time highs!

Granted, most home buyers are not spending $14MM no less $4MM on a home. And yes, wealthy people typically are more adverse to short-term drops in home values. However, Wall Street often refers to these larger buyers as ‘Smart money’ (again only time will tell). And these buyers have typically more resources to research and opportunities more negotiating power and more choices than you and I.

So when I see a successful attorney from out of state who spends $14MM in CASH!! And a CEO of a major manufacturing corporation to pay $8.2MM on homes here in Paradise Valley or Scottsdale, Arizona , it tell me that if their money is good enough to buy real estate now, today, in this market, then ,With these types of sales, I have to consider that we may be at or near a bottom.

Or at the very least , there are some truly great buying opportunities out there in the market.

I am curious what everyone else is seeing in their areas? Are these just islands in the storm?? or are we begining to see sun through the storm clouds?

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Copyright © 2008 By James Wexler, All Rights Reserved. *"Paradise Valley Homes Sold - $14,000,000 , $8,200,000 and $4,100,000 - all in 1 week*

Contact James Wexler (480) 221-8080 for Internet Marketing Coaching and Consulting.

There are reasons for buying resale and other good reasons to buy a new construction home Direct from a Builder; including,...

A wide variety of communities, location, location, location, modern floor plans, an practically unlimited choices of features, colors, fixtures and finishing’s, lot selection, modern safety and energy efficient standards, and invaluable Builder warranty offering an extended commitment to reliability and unique value opportunities.

It is difficult to look past a new home for your American Dream.

Consider these 5 Reasons

1) Value – In today’s market, almost everything is negotiable. Many home builders, if you negotiate well, will often help contribute down payment and almost always money towards closing costs; thus saving you what can amount to a lot of money out of pocket. Further, they are more willing to negotiate pricing, as they have more flexibility in pricing than the resale home seller. Finally, happy community residents and satisfied customers are the best source of new sales for the builder who has many homes available in that neighborhood.

2) Modern Architecture – Build the Home that’s Right for you Today’s New Home Builder, offers an array of modern floor plans that are sure to feel custom to each buyer, these plans are including large kitchens with huge family great room, more bathrooms, with steam showers, and jetted tubs, walk-in closets, his and her sinks, Guest Entrance/Casitas, Pool s, pools, spas, putting greens, fireplaces, home offices, built-in plasma tvs and wonderful use of windows for natural lighting and often spectacular views,

3) Choices - The dizzying amount of choices include and are no way limited to… exterior paint, stonework, windows, interior Paint colors, faux and textured, carpets, stone, floors or wood, variety of wood cabinets, stainless steel appliances, with larger capacity refrigerators, double ovens and 6 burner gas range, granite counters, tiled bathrooms, light fixtures, landscaping choices and solar heated pools, to name only a few of the countless choices making the process not only fun, but personal.

4) Spec Builds in Inventory – Discount price – no discount in product or value. If you can be a little more flexible in all of your specific desires. Many New Home Builders have some home in current Inventory. Either Buyers could not qualify or the Builder built as “Specs” , homes available for purchase immediately. These homes are often built 70-100% to completion; thus offering less choices. However, what you lack in choices, is often well made up for in pricing as these builders need to sell them more quickly as they are costly to keep each month.

5) Long-Term Appreciation - Think New Car Smell! Lets face it, who doesn’t like New. New vs. Used is as American as apple pie. Think, new car smell. And when it comes to resale, one of the first items looked at when comparing location, size and pricing, is Age of home and modern fixtures and finishings. If you compare equal homes, with equal amenities, the new home is more marketable, more saleable and often demands more money.

I want to say that there are also plenty good reasons to buy resale.

However, thought I would share these points and ask for your feedback of advantages, disadvantages, pros, cons, etc.... on what my respected peers and consumers think?

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Copyright © 2008 By James Wexler, All Rights Reserved. *"Why Buy New from a Phoenix | Scottsdale Builder??*

as we all know, ...When it comes to buying real estate, Patience, prudence, insight, educated decision making and a little luck can present you with promising opportunities.

However, financial professionals, will often tell you that “Risk evaluation" is probably the most important criteria one must consider before making the decision to buy.

Risk/Reward can be defined as the amount of risk one must take to provide a similar amount of return on investment. Generally, the higher the risk, the higher reward.

Here are 3 thoughts I recommend for all buyers to consider when evaluating risk before deciding whether or not your next Deal really is good as it looks.

1) Comfort level – too much stress, fear , and unhappiness, are lingering effects of taking a risk larger than you may want to handle

2) Can you afford a loss – if there is one thing this difficult period in real estate has taught us, is that real estate is not guaranteed to go up forever, ask yourself if you can afford to hold your real estate years and years past what you initialyl hoped

3) Opportunity cost – deciding not to buy that “good deal” may be the best investment you ever make. Experts will tell you that there are always other opportunities. If you have the money in your pocket and the ability to make a decision when it presents itself you may find that opportunity that you could not have take advantage of if you had purchased that deal on which you passed.

We All take Risks in Life; personally and professionally. The purchase and finance of a home is a risk that most people take. Historically, it has been very rewarding.

However, be prudent, make sure you have done your research, have double checked your finances, and have properly evaluated risk;The deal that sure looks good, may not be as good as it looks.

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for more rants, ravings, musings and market news follow me on Twitter or link to my blog www.Wexzilla.com

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Copyright © 2008 By James Wexler, All Rights Reserved. *"This Deal Sure Looks Good ", .... I think I should buy*

According to the U.S. Department of Agriculture, Food Price Outlook for 2008 for all food is projected to increase 4.5 to 5.5 percent, as retailers continue to pass on higher commodity prices, for beef, poultry, eggs, dairy, fruit, vegetables and wheat, and energy costs to consumers.

Cathryn Creno of the Arizona Republic wrote an excellent article on AZ grocery stores and how manufacturers are scaling back the sizes not reducing prices so consumers do not feel as much of a pinch in the wallet. Here are a few examples Ms. Creno cites.

• Cheerios shrank by 1.5 ounces
• Scott toilet paper is down 0.3 inch per square
• Breyers reduced the size of ice cream cartons from 1.75 quarts to 1.5 quarts
• Wrigley announced they will offer gum in 15 stick packages instead of 17 sticks

This type of "downsizing" is also becoming more and more evident in real estate especially here in Phoenix, Scottsdale, Tempe, Fountain Hills, Peoria, Glendale, Paradise Valley, Desert Ridge, DC Ranch, Troon, Grayhawk

Here are 5 examples of real estate Downsizing:

1. Some Builders are selling homes for less price with less upgrades. Passing on saving to the consumer; just with less 'cereal' in the box.
2. Lowering prices and offering less buyer incentives.
3. Buyers are purchasing smaller homes with less space in order to save energy, upkeep, tax and loan costs.
4. Short Sales, Foreclosure and REO , Bank owned properties are less expensive and buyers are now willing to pay a lot less and fix up themselves in order to save money versus buying retail.
5. Realtors, mortgage lenders, builders and sellers are more competitive with rates and fees in order to facilitate transactions for buyers and sellers.

Downsizing can be a good thing in real estate. Please, just remember to always read the 'packaging' so you know what you are really getting. Good deals abound if you look prudently, patiently, and close enough.

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Copyright © 2008 By James Wexler, All Rights Reserved. *Food Products Reduced in size - Will homes in Phoenix Scottsdale follow ?*

Contact James Wexler (480) 221-8080 for Internet Marketing Coaching and Consulting.