Spring is in the Air

 

Spring has arrived to Scottsdale, Arizona.  Our daffodils are showing their pretty faces.  The windows and doors are open during the day.  And my Italian Greyhounds are enjoying running naked.  (Without a sweater)  The trees are starting to grow back their leaves; our grapevine is loaded with new growth buds.  All are signs of spring.  So get out and enjoy the beautiful days.  Go for a walk, run, or bike ride on the Camelback Walk, just get out and enjoy it.

This just in: People are buying homes!

Chicken Little’s  ”The Sky is Falling” is everywhere in the papers.  I figured a little positive press would be welcoming.

 

People are buying homes!  

 

There it has been said, now for the proof.  January statistics are in and the Arizona Regional MLS has published their report for this month.  

 

January is the 8th consecutive month of increased sales comparing months year to year.  January 2009 had 4742 closings that is a 63% increase over January of 2008 with only 2912 closings.  

 

January 2008 was the slowest month for closing in the past 8 years.  I don’t expect we will see that 63% increase again next month.  Time will tell though. 

 

The closings in January and in the past few months are more comparable to those in 2001, 2002 and 2003.   This is all good news, there are still a lot of homes on the market and hopefully, we will see the inventory start to lower as well, when that happens prices will stabilize.

Mom Pimped her Ride

My mom, Claudina, belongs to a group called Sisters on the Fly, it is a group of women only who have pull behind trailers that head out of town to have fun and get away. Be sure to check out their Photo Gallery  to see the fun these ladies have!  

 

Most of the trailers are antique, painted up, and decorated to the hilt.   Mom’s is newer, and until now has been rather plain jane.  

Plain Jane no more!

 

The “Sisters” also known as the Cowgirl Caravan as they drive down the freeway together, have been featured in the Arizona Highyways Magazine, The Travel Channel and lots of other places.

 

A big thank you goes out to Jason Prenovost at AZ Pro Signs in Avondale for the great job in the design and application.  It looks fantastic and it’s going to have mom enjoying her semi-retirement in style.

Foreclosures and the Adult Communites

Although there are no adult communities within McCormick Ranch, our initial website is focused on Active Adult Communities and we work with many 55+ buyers.   

We are seeing lots of numbers being published for the ratios of Bank Owned and Short Sale properties in the valley.   We are not seeing those same numbers in the Adult Communities.   Since it is a cold rainy day, I have been playing with numbers and really surprised myself with what I found!

Taking only single family detached homes in the entire MLS for the valley, a total of 41,832 this morning, 10,796 of them were Bank Owned and an additional 9,003 were Short Sales.  Those numbers round off to 25% of the single family homes on the general market are bank owned and another 21% are short sales.  

 

 

BUT when you look at the Active Adult Community 55+ single family homes, there are a total of 2819 on the market.  Of that 2819 only 52 are bank owned and 63 are short sales which works out to 2% of the homes are bank owned and another 2% are short sales.

 

 

HMMMM  kinda makes you wonder.    Our 55+ citizens have indeed saved for their retirement homes, their financing is minimal and their risk taking days are in the past.

There were very few zero down,  or investor homes sold in these communities in the 2005 and 2006 sales surge.    I believe it is the investors who did get in to these adult communities, that are making up the Bank Owned and Short Sale properties.

Deals to be found

Are there deals to be found in real estate?  You betcha.  Sometimes there are amazing ones.  Then there are some you may consider a great deal, and your neighbor thinks otherwise.  Beauty in the eye of the beholder.

Right now we are working with one of our clients in purchasing a foreclosure property, one acre, horse property, no HOA, with a mobile home permanantly affixed, for a grand total of $39,000.

Hong Kong Orchid in bloom

The Hong Kong Orchid trees are coming into bloom.   It is a bit early for them.  Usually they bloom in March.  Our winter this year was pretty short.  The cold weather stuck around for the holidays, making it nice to sit by the fireplace and left right after.

The leaves have barely fallen off all of the trees, and we have new growth and flowers returning. 

If the weather remains cooperating, we could have a beautiful spring this year.

Foreclosures and Cash for Clean Up

One of the challenges with purchasing a foreclosure property, is the cost of clean up.  Many of the properties, are a great value, they are priced right, and are selling.  The challenge is once you have the property, where are you getting the cash to do the repairs and clean up required.

Most of the banks are keeping the power on, with the breakers off to the main part of the house, that way they don’t get hit with a high electric bill.  Then with power to the pool, and landscaping, green pools are not as common an occurrence and tons of dead plants are not in need of replacement in most cases.

But what about the damages and condition of the interior of the home.  Broken floor tile (that can’t be matched any more), grimy carpet that has to be replaced, holes in the walls in need of repair, missing door knobs, do it yourself repairs that are possibly not up to code and safety standards and who knows what else.

Sure elbow grease and a bucket of paint are cheap and go along way.  What about the other issues?

During your inspection period, consider brining in tradesmen who can give you estimates of repair.  Know what the costs are going to be before you get into a home and situation that is over your head.  The bottom line may be greater than you want to handle.

The Fruit trees are Full

This is a lemon tree in my neighbors front yard.  It is loaded with lemons. The other day he trimmed this tree, and I just couldn’t stand to see that much fruit go to waist.  So, racking my brain to think of what I can use that much lemon juice for, (we juiced about 2 gallons worth) I started in the kitchen.  I made Lemon Ice, Limoncello, (well it is still soaking) and Lemon Marmalade.  I also took the juice, froze it in ice cube trays to make the perfect lemonade come summer.  My Freezer is full. If it was just the lemon trees, I would be complete, but the Seville Oranges are also ready for picking.  The Seville Oranges, are ornamental bitter oranges, not fit for drinking.  They make a great Marmalade, and marinade. 

I am doing my part to be sustainable while living in a town home in the heart of Scottsdale’s McCormick Ranch.

Happy Picking