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John Barile's Blog

John Barile

Blog

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IT'S LIVE!!

by John Barile

 

http://www.flexmls.com/link.html?1arsnbiryy2z,12,1

 

NEW LISTING!!

by John Barile

http://www.johnbarilesellshomes.com/Property/18251-West-Sells-Drive-Goodyear-Arizona

 

Jul 8, 2015, 2:06pm MST

Phoenix housing prices continued to rise for the month of May, but folks looking to enter the Phoenix housing market may be relieved to hear that tight supply for mid-range homes may ease up as more building permits have been issued, according to new data released by Arizona State University.

Building permits for homes priced in the $200,000 to $500,000 range saw a relatively small increase in the past two months, but buyers looking to enter the market with an affordable home may still face competition, said Michael Orr, who released the report Wednesday.

"This is causing problems for buyers who are experiencing multiple bids in the range below $200,000," Orr said in his report.

Gilbert led the Valley in receiving the new building permits with Peoria, Mesa and North Phoenix not far behind.

Orr, who serves as director of ASU's Center for Real Estate Theory and Practice, doesn't see much supply relief in the near future for the entry-level homes because many new home permits issued are for move-up homes, he said.

The increase in issued permits wasn't enough to make a dent in the number of homes available across the Valley, Orr said.

The modest increase in permits may keep prices from skyrocketing, but supply of homes is still quite a way from being what is considered normal in Phoenix, he said.

May housing prices were similar compared to April, Orr said, as the lack of supply still continued to drive the prices up since demand has returned to normal.

Single-family home sales rose 1 percent in May over April and 7 percent from the previous year, Orr said, and the median sales price jumped 5.2 percent for single-family homes from April to May and 11.5 percent from May 2014, Orr said.

Data isn't out yet for June, but Orr expects it to be another strong month for home sales. Activity may start to slow down in July and August, as is the historical trend due to higher temperatures.

The warmer months typically see less activity than the rest of the year and that means price increases could stop then, Orr said, but price increases should be expected to come back if supply issues persist by the end of September.

And the luxury home market hasn't seen the same supply issues as the entry level market has, but the number of luxury homes sold is expected to be down by the end of the second quarter, Orr said.

Pulte building active-adult development in Chandler

by John Barile

Jul 13, 2015, 2:16pm MST Updated Jul 14, 2015, 7:34am MST

Mike Sunnucks Senior Reporter Phoenix Business Journal

Pulte Homes is building its first active-adult community in the Phoenix market under its own flag: a 72-unit gated subdivision in Chandler.

PulteGroup Inc. (NYSE: PHM) is opening Lone Tree by Pulte Homes Active Adult. It is part of a larger Lone Tree development at Riggs and Lindsay Roads.

Rebecca Lundberg, vice president of sales for PulteGroup’s Arizona Division, said 2,000 people are on the interest list for the development. Pulte is not yet disclosing pricing or specific floor plans.
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So-called active adult communities aimed at baby boomers and retirees over the age of 55 have been a strong segment in Arizona’s post-recession housing market. That includes in outlying Phoenix suburbs as well as markets such as Prescott, Pinal County and Lake Havasu City.

“We are expanding our product offering to better serve the diverse interests and life stages of today’s baby boomers and more community options to meet people’s diverse wants and needs,” Lundberg said.

Atlanta-based Pulte also has active adult developments under its Del Webb brand, but Lone Tree is the first under its name in the Phoenix area.

Updated

 

Two metro Phoenix master-planned communities are among the top-selling communities in the country, according to a midyear sales report from real estate firm RCLCO.

Eastmark in Mesa and Vistancia in Peoria made the cut in RCLCO's 2015 midyear update on the best-selling master-planned communities.

Eastmark, which is near Phoenix-Mesa Gateway Airport and Apple Inc.'s major data center operations in Mesa, had 286 sales through the first half of the year (up 148 percent), good for No. 8 on the list of 20 top-selling communities.

In the West Valley, Peoria's high-end Vistancia community boasted 271 sales during the same time frame (up 171 percent), according to RCLCO. That is good enough for Vistancia to be No. 11 on the top 20 list.

Overall, the top master-planned communities sold homes at a quicker pace through the first half of this year than they did during the same period in 2014, according to RCLCO.

The Villages in Florida was the top-selling community.

For more information and to read the whole list, visit RCLCO's website.

Millions could be saving $200 a month on mortgages

by John Barile

Check out this article I was reading the other day . . . could be very helpful!

http://www.usatoday.com/story/money/personalfinance/2015/07/12/credit-dotcom-saving-on-mortgages/29892627/

From USA Today, July 12, 2015; Christine DiGangi, Credit.com

What You Can’t Buy

by John Barile

Bill Gray, who is the publisher of The Arizona Journal of Real Estate & Business® wrote this back in May 2010.  It definitely gives us something to think about!

You can buy a person’s time, presence, labor and appearance.  You can demand a person work eight hours a day and follow specific instructions.  You can have a person sign a contract spelling out the precise terms of the agreement and penalties. You can insist on children following the house rules.

With all of these terms and conditions you cannot, however, buy a person’s loyalty, responsibility, good attitude, or initiative.  These rare qualities must be earned between employer and employee, husband and wife, parent and child.

Developing loyalty is the key essential for any long lasting relationship, be it business or personal.  When loyalty is present, it reflects a trust in that person, company, or family.  At that point everyone is working at a higher level and everyone is functioning at their greatest potential.

People will normally grow to the levels of expectations (or lack of expectations) and you will find yourself being treated the way you teach people to treat you.

You can buy a person’s time, labor and obedience, but not their loyalty or dedication.  These qualities must be earned, but the reward is well worth the investment.

 

Home Sweet Second Home

by John Barile

Sometimes a vacation can be so good that it makes you want to move to your vacation destination permanently — or at least visit more often. If your recent getaway to Arizona has you thinking about buying a second home, consider these pointers from Frontdoor.com and CNN Money before taking the plunge.

Ultimately, your lifestyle will determine the kind of second home you buy. How much time will you spend in your second home? A few weeks a year? Are you looking for a weekend getaway? Be realistic: Consider how long it takes to travel to Arizona and how often you’ll really be using it.

Will you rent it out when you’re not there? Homeowners who rent out their home for fewer than 15 days a year don’t have to pay taxes on rental income — rental expenses, however, aren’t deductible (and vice versa). (Be sure to doublecheck the laws for the most current info.) Whether or not you choose to rent it out, it’s important to add in extra costs, such as maintenance and insurance, and then decide whether the upkeep and costs still fit within your budget.

Know the rules of renting. Some towns don’t allow short-term rentals, so make sure your subdivision/town does, and read up on landlord laws for tenants. If your home will be primarily for rental income, opt for a family-friendly home in a popular location with easy access to airports or other modes of transportation for a more desirable rental option.

Last, consider long-term goals when choosing a second home. If you’re thinking of the home as a good place to retire, it’s important to check out local hospitals and other resources, and factor in costs associated with making a home compatible with senior living.

Market Stabilization

by John Barile

Residential real estate prices for the Phoenix-area continue to maintain an upward movement as buyers are still cautious about purchasing. However, sellers are now realizing the importance of pricing right for the market. Inventory has leveled off, but properties over $200,000 are still in high demand.  Investors are finding their groove and potential home owners are enjoying the market stability. Savvy investors are still finding good deals, as it requires quick action and the investors to stay on task with a continual examination of the market in order to purchase the “deals” before other investors discover them. Because there are still some properties that don’t qualify for financing because of their condition, many investors still find those properties as profitable investments. These properties, in areas where prices have increased gradually, bring considerable profits despite the cost to rehabilitate.

Rentals continue to be a driving force for Phoenix/Scottsdale-area real estate and investors continue to negotiate the waters of the rental market. In many areas of the Valley, rental inventory is quite low and property managers are finding little need to negotiate rental rates with potential tenants. Investors interested in those areas with a strong rental market are likely to come out “in the black” on those investments.

2013 In Review

by John Barile

It’s amazing how much change the Phoenix area real estate market experienced in 2013! We are seeing what real estate experts are calling a “normalization” of our market, meaning that supply and demand are becoming more in balance. The number of distressed (short sale, auction and foreclosure) properties have decreased dramatically, while property owner looking to profit from their sales (rather than get out of a bad financial situation) began entering the market.

Although savvy investors can still find good deals in the Phoenix market, the days of “steals” are long gone. It takes MUCH more work to identify profitable properties, a fact that has driven many investors to find greener pastures. Although these departing investors represent a considerable percentage of potential buyers, there is still keen interest in the Phoenix area market in buyers intending to occupy their purchases. Price increases have slowed dramatically from the meteoric rise we saw in the past, but the experts mentioned earlier feel that prices still have room to increase.

Investors who purchased properties a few years ago stand to make handsome profits from the sale of their holdings. Well-priced properties in move-in condition are still experiencing high buyer interest. If you are thinking about liquidating your Phoenix area properties to fund investments in other markets, or if you want to know how much money your investment could make in today’s market, give me a call and let me show you your options!

 

If you or any of your family, friends or co-workers are looking to buy, sell or have recently short saled or foreclosed, please forward these helpful websites to them. 

Sellers –  www.marketvaluesinarizona.com

Buyers –  www.wheretoliveinarizona.com

MY FREE CREDIT REPAIR PROGRAMLife After a Short Sale or Foreclosurewww.CleanMyScoreNow.com(Qualify to purchase a home in as soon as 2 years after a short sale or foreclosure.)  Please forward this website to anyone who would appreciate your help.

Displaying blog entries 1-10 of 26

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Photo of John Barile, Associate Broker Real Estate
John Barile, Associate Broker
HomeSmart Elite Group
8388 East Hartford Drive, Suite 100
Scottsdale AZ 85255
Direct: 602-214-4283
Fax: 602-503-4222