Investments can be made in commercial properties, retirement properties, apartments, single-family homes and other real estate. Stable pricing and steady appreciation in the value of real estate have been the factors which attract investors and realtors to Arizona. Phoenix, Tucson, and Flagstaff are some popular cities of Arizona. People planning to settle in a new place look for various things like educational institutions for children, medical facilities, sports and entertainment, and the economy. Arizona has some of the best schools in the nation. It also has excellent sports arenas which are popular for baseball and other sports.

Over the years, people from other countries and the United States have invested heavily in real estate in Arizona. The condos, houses, and villas are the hottest selling properties in Arizona. If you are new to real estate business, you can depend on the property management firms for guidance.

Brewer Caldwell -- Arizona Property Management Company

Brewer Caldwell property management is one of the leading property management firms in Arizona. Whether you are a customer looking for a suitable real estate or a professional real estate investor, Brewer Caldwell property management has something for everyone. Brewer Caldwell property management has offices in Phoenix, Tucson, and the White Mountains. With a professional staff and experience of managing over 2000 properties, you can be sure to get the best property management and real estate services from us. If you are planning to buy, sell or rent a property, Brewer Caldwell property management can provide you hassle free service without any hidden costs or charges. To know more about Brewer Caldwell property management services, visit www.BrewerCaldwell.com

While the liberal media and the Democrats have jumped all over McCain for owning at least eight homes (and for not knowing how many he owns), the terrible toll that the housing crisis has taken on McCain and his wife Cindy has been completely ignored.

It is time to recognize the McCain’s losses.

The eight homes that (so far) have been identified as owned by McCain family are:

1. A 15-acre ranch in Hidden Valley, Arizona.  Value = apx. $1 million.
2. A condo in Phoenix, Arizona.  Value = $4.7 million.
3. A condo in The Coronado in San Diego, California. Value = $2.4 million.
4. Another condo in The Coronado San Diego, California. Value = $2.4 million.
5. A condo in La Jolla, California.  Value = $1.1 million.
6. A three-bedroom condo in Arlington, Virginia. Value = $847,000.
7. Another condo in Phoenix, Arizona.  Value = $730,000.
8. Yet another condo in Phoenix, Arizona.  Value = $830,000.

Now, if we take the above-noted values of the properties (which, let’s assume, are based on pre-housing crash figures) and then subtract the percentage decline in housing prices over the past year (using the latest Case-Schiller Index for the nearest city), we get the following numbers:

Total McCain property values in Arizona = $7,260,000.
Last Year’s Loss in Property Value in Phoenix = 27.9 percent.
Total McCain Property Value Loss in Arizona = $2,025,540.

Total McCain property values in San Diego/La Jolla = $5,700,000.
Last Year's Loss in Property Value in San Diego = 24.2 percent.
Total McCain Property Value Loss in San Diego/La Jolla = $1,379,400.

Total McCain property values in Arlington, Virginia = $847,000.
Last Year’s Loss in Property Values in Washington, D.C. = 15.7 percent.
Total McCain Property Value Loss in Virginia = $132,979.

Total McCain Property Value Loss for 2007-2008 =  $3,537,919.

Of course, John McCain may own more than these eight homes.  In that case, the calculation of McCain’s losses would have to be increased.

We think, too, that the above valuation figures for McCain’s properties are probably too low.  For example, McCain’s 15-acre ranch should probably have been valued at more than $1 million.  Again, this means that McCain’s losses are larger than the $3.5 million figure we’ve calculated.

As these (admittedly conservative) figures show, John McCain has lost more than $3.5 million dollars, just this year, in the housing crisis. 

How many Americans can say that they’ve suffered that much?

He may not have mentioned the housing crisis, the credit crisis, the mortgage meltdown or the foreclosure explosion in his speech at the Republican convention, but that doesn't mean that he doesn't care or doesn't get it.

America, John McCain shares your pain.

Can you believe that the month of August is almost over? It seems like yesterday I turned the calendar page to August 1st!

Do you have your fave morning beverage? I do! Here's what I have for you today!

I'd like to recommend Ron Mehin, Sr. Mortgage Consultant of Suburban Mortgage, Inc. for your residential mortgage (home loan, refinance, debt consolidation) needs. Ron has over 27 years combined experience in the Arizona real estate and mortgage industries. Ron's style is very responsive and respectful.

Don't forget that the Ameridream DPA program is being eliminated in about 4 weeks ~ make sure that you have your offers submitted, LSRs completed & that you've opened escrow within the next couple of weeks so that you will be able to close on your new home before the Ameridream DPA program has gone away!

All my best,

~Celia

The Mohave State Bank, BJ's Cabana Bar, and Campbell Redi Mix will be this year's sponsors. Without these great sponsors, the tournament could not happen.

This year's tournament players are coming from miles around. Some are coming from as far away as Missouri. They will all compete for the title of Havasu Iron Man Champ at three of Lake Havasu City‘s golf courses. The Havasu Island Golf Course, London Bridge West Golf Course, and London Bridge East Golf Course are all part of the game. The winner will win $10,000.

Entry fees will be $150. This will include cart, green fees, golfer goody bag, and a tournament shirt. Players need to register on Friday, August 22. There will also be a tee-off party on Friday. At the end of the tournament, on Saturday night, there will be a Prime Rib Awards Dinner at the 55^th hole.

Don't miss your chance to be part of Lake Havasu City's history. Join the fun.

Small changes can make a huge difference. First do an inspection of the exterior and interior of your home to see what needs improvement. Start with your yard and give it some curb appeal. Plant some flowers and bushes, do some hedge trimming, add mulch to existing flower beds, and paint the house. This gets buyers into your home.

Then, start on the interior of your home and try some small remodeling like replacing interior doors. It’s inexpensive and can really help. Give the interior some new paint and do a thorough cleaning. Pack up everything you can, and put it in storage so the home is not personalized to you. This way, buyers can see their own things in the space.

Remember, first impressions go a long way. You want potential buyers to be really impressed with what they see.

The number of East Valley (Chandler, Gilbert, Mesa, and Tempe) sales for the month of July came in at 1,284 units (the average sales price was $245,194 with an average days on market of 117). Up from 1,146 units sold for the month of June.  The number of monthly sales are still holding steady, well above 1,000 units.  The number of homes currently listed, as of August 3rd, is 9,555.  At the current pace of buying there is about 7.5  months of inventory on the market for the East Valley. 

The number of single family homes sold in July was 372, up from last month's total at 360 units. Homes are still affordable in Queen Creek, and buyer's are still willing to purchase at these prices.  July's average sales price was $169,068.  The average days on market for homes sold were 97, falling significantly from last month's 123 average days on market.  At the current level of buying, there is approximately 4.5 months worth of inventory in Queen Creek.

If you're considering selling, or currently looking for a real estate agent to sell your home, please email Nathan@ezlistaz.com, or phone 480-529-6329.

The Canadian dollar is strong in the United States, and Alberta's economy is flush with oil and gas profits, DeSouza said. He grew up in Toronto and lived in Calgary before coming to Arizona in 1992.

More than 30 percent of recent sales have been to Canadians, DeSouza said

Read complete article here...

It's been a while since my last posting - much has happened - loonie went below par - loonie went back to par and now it's in a free fall down to 94 cents - ouch - and the Canadian housing market is showing weakness - in Vancouver no less !!!

But the snowbird states (Florida, Arizona and Nevada) still offers Canadians good opportunities to buy that Vacation or Retirement home - only now 'Cash is King'  and money talks.  So what if you loonie is down 10%  - houses are upto 50% off and still falling in Coral Springs, Phoenix and Las Vegas - I love real estate....

There are several more shops scheduled to open soon, such as Famous Footwear, American Eagle Outfitters, Kay Jewelers, Sally Beauty Supply, Michaels Arts & Crafts, rue21, Jus’ Kidding, C.J. Banks, Christopher and Banks, Tropical Smoothie Café, Chacago Grill, Ah-So Steak and Sushi, Orseenie Coffee and Tea, #1 Nail Experts, a 10-screen UltraStar Cinema and more.  All these new stores will make it so convenient for Lake Havasu City residents and visitors.  It will give them a variety of stores all in one location.

Many of the upcoming shops don’t have dates set for their grand opening, but I’ll be keeping my eyes and ears open.

… in a nutshell…

FHA Mortgage Refinance and Insurance Program

This would assist troubled homeowners by allowing them to refinance to a lower mortgage with an affordable rate.  It’s a voluntary program to both the borrower and the existing mortgage holder.  The existing mortgage holder would need to agree to release the lien at an amount less than owed.  There will eligibility requirements that both borrower and mortgage holder will have to meet.  In addition the new loan may not exceed 90% of the appraised value of the home.  No second liens will be allowed for at least 5 years.  HUD will be entitled to 50% of the appreciation in the appraised value of the property (HUD will be entitled to 100% of the first year’s appreciation).

Federal Housing Finance Agency to Oversee Fannie Mae and Freddie Mac

This will be a new independent agency to oversee, and regulate Fannie Mae and Freddie Mac.

The Treasury Department will also be granted emergency authority to purchase securities, including equity, and will also increase the existing credit lines of both Fannie Mae and Freddie Mac.

Mortgage Disclosures

The Truth in Lending Act requires delivery of certain disclosures 7 days prior to loan origination.  These disclosures must include examples of how payments would change with a rate adjustment.  The maximum possible payment must be disclosed.  The borrower must receive these disclosures before paying any significant loan fees.

Loan Originators Must Be Licensed

The licensing can be either State or federally regulated, as necessary.  All individuals involved in originating loans must be licensed and registered with the State or HUD.  Minimum standards must be met, including education (and continuing education), and testing. 

FHA to Raise Loan Limits

Limits will be raised to a minimum of $271,000, and the minimum down payment will increase to 3.5% of the purchase price.

Other Noteworthy Inclusions

$3.9 billion in community grants to purchase abandoned and foreclosed properties.

The extension of servicemembers foreclosure protections from 90 days to 9 months.

Creation of credit and housing counseling programs

A first time homebuyer tax credit and increase of the standard deduction for property taxes.

There are other provisions to this Act.  Please feel free to visit this website http://banking.senate.gov/public/_files/HousingandEconomicRecoveryActSummary.pdf

for more information.

Lake Havasu has over 400 miles of shoreline to enjoy swimming, boating, fishing, kayaking and much more during this hot weather.  Along the shoreline, there are eight marinas and nine public beaches.  As long as you are in the water, you will stay cool.

A great place to cool down with the kids is the Aquatic Center , which has an indoor wave pool, water slides, kiddie lagoon, therapeutic pools, Sun Splash Spray park and lounge areas.  Another great place to cool down with the kids is the Nautical Water Park .  The park can be found at the Nautical Inn Resort’s beach.  The water park features inflatable water slides and water platforms.  The slides are called the Iceberg and the Rock Slider, while the platform goes by the name Saturn because it looks like a space ship.

I just can’t think of a better way to beat the heat than to spend the day playing in the water.

  
Any and all needs of the residents will be taken care of by a great staff.  The meals are an upgrade.  All meals are dietician planned and served family style.  Residents can eat anything they want when  they want too.

Residents can expect a great quality of life in the new facility.  Lake Havasu City is wonderful.  It has afforded me a great quality of life, too.

Currently, the 250 acres south of the Water Safety Center at Contact Point is where the Havasu Riviera project is located.  It is zoned light agricultural, but if passed by the City Council, it will be rezoned to mixed use and multiple family residential, putting it on the road to becoming a Resort-Related Mainland.  The plan will include an art and convention center, a marina, a five-star hotel and resort, and a four-year university.  The proposal will also call for development of commercial business and residential housing in the vicinity to be in conjunction to the project.

Almost all commission members are pleased with the proposal and planning process.  Many believe it is the perfect location for a five-star resort, which could take 7 to 10 years to finish.

The rezoning of lower McCulloch Boulevard , if passed, will designate the areas of Swanson Avenue , Smoketree Avenue , Mesquite Boulevard, and Lake Havasu Boulevard as a Health and Commercial District.  The district will allow for medical, retail, office and commercial use, along with grocery stores, auto parts stores, ambulance services, and retail bakeries.

This sounds to me like some great and exciting new things are coming to Lake Havasu City .

Search Desert Ridge Homes

Desert Ridge is located in North Phoenix just directly north of the Loop 101, Desert Ridge is the one of the largest master planned communities in the Phoenix Metro area. Its proximity to shopping, recreation and employment opportunities makes it a highly desirable community. Nearby, the Desert Ridge Marketplace is one of the top outdoor malls in the country with countless shops, dining and entertainment options.

Within the master plan is the striking J.W. Marriot Desert Ridge Resort and Spa, which includes 950 rooms, including 81 suites and the 28,000 square foot Revive Spa. A component of the Resort and Desert Ridge community is an Arnold Palmer signature championship course. The course is part of Wildfire Golf Club which features a clubhouse, a short game complex and a driving range.

Desert Ridge has numerous homes for sale; including single family, condos, townhomes and patio homes. You can contact me at 480-247-7244 if you are interested in buying or selling a home in desert ridge.

Real estate prices are down in Lake Havasu City – This makes buyers very happy.  Lake Havasu City is experiencing a Price Correction Market and an over-supply of homes for sale. The current market is all in the buyer's favor.

FHA has raised loan limits to $322,500 (single-family residence) - This makes buyers very happy.  FHA’s First-Time Buyers Program has temporarily increased its mortgage loan limits as provided for in the Economic Stimulus Package. The current loan limit is effective until December 31, 2008.  Buyers are able to purchase single-family or multi-family dwellings but the property must be owner occupied.

Interest Rates are going down – This makes buyers very happy.  Interest rates increased in the month of May but are currently declining due to increased investment in the mortgage bond market.

The mortgage crisis has reached bottom – This makes everyone happy.  Although there will still be foreclosures, the majority of sub-prime loans which caused so many to default on their payments have already gone through the system. The mortgage industry is on the mend.

The real estate market is expected to begin recovery next year – This makes everyone happy.  Everyone likes a strong real estate market.  There is a sense of security about it.  Lake Havasu City prices are predicted to stay soft throughout 2008, but recovery is on the way and may be seen as early as mid-2009.  A stronger market means that buyers will lose their current edge and, as the market recovers, home prices are expected to increase.

No one can predict the future.  However, if the current indications stay true, the market will be recovering not only here in Lake Havasu City but across the nation. The only states predicted to continue to see a depressed market until 2010 are California and Florida.

If you have been waiting for the end of the downward trend, then your wait may soon be over.  Many of the real estate news services are beginning to report happy real estate stories.  Remember, by the time the media tells you the market is on the upswing, the bottom of the market will be long gone.

The report also shows that one in every 501 U.S. households received a foreclosure filing during the month.

“June was the second straight month with more than a quarter million properties nationwide receiving foreclosure filings,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity slipped 3 percent lower from the previous month, but the year-over-year increase of more than 50 percent indicates we have not yet reached the top of this foreclosure cycle. Bank repossessions, or REOs, continue to increase at a much faster pace than default notices or auction notices. REOs in June were up 171 percent from a year ago, while default notices were up 38 percent and auction notices were up 22 percent over the same time period.”

Nevada, California and Arizona continued to document the three highest state foreclosure rates in June.  Florida, Michigan, Ohio, Colorado, Georgia, Indiana and Utah were other states that made the top ten.

For the third month in a row, California and Florida cities accounted for nine out of the top 10 metropolitan foreclosure rates among the 230 metropolitan areas tracked in the report.

RealtyTrac noted that "Foreclosure filings were reported on 8,713 Nevada properties during the month, up nearly 85 percent from June 2007, and one in every 122 Nevada households received a foreclosure filing — more than four times the national average."

"One in every 192 California properties received a foreclosure filing in June, the nation’s second highest state foreclosure rate and 2.6 times the national average."

"One in every 201 Arizona properties received a foreclosure filing during the month, the nation’s third highest state foreclosure rate and nearly 2.5 times the national average. Foreclosure filings were reported on 12,950 Arizona properties, down less than 1 percent from the previous month but still up nearly 127 percent from June 2007."

"Foreclosure filings were reported on 68,666 California properties in June, down nearly 5 percent from the previous month but still up nearly 77 percent from June 2007. California’s total was highest among the states for the 18th consecutive month."

"Florida continued to register the nation’s second highest foreclosure total, with foreclosure filings reported on 40,351 properties in June — an increase of nearly 8 percent from the previous month and an increase of nearly 92 percent from June 2007. One in every 211 Florida properties received a foreclosure filing during the month, the nation’s fourth highest state foreclosure rate and 2.4 times the national average."

"Foreclosure filings were reported on 13,194 Ohio properties in June, the nation’s third highest state foreclosure total. Ohio’s foreclosure activity increased 7 percent from the previous month and 11 percent from June 2007. The state’s foreclosure rate ranked No. 6 among the 50 states. Other states in the top 10 for total properties with filings were Arizona, Michigan, Texas, Georgia, Nevada, Illinois and New York."

"Seven California metro areas were in the top 10, and the top three rates were in California: Stockton, with one in every 72 households receiving a foreclosure filing; Merced, withone in every 77 households receiving a foreclosure filing; and Modesto, with one in every 86 households receiving a foreclosure filing. Other California metro areas in the top 10 were Riverside-San Bernardino at No. 5; Vallejo-Fairfield at No. 7; Bakersfield at No. 8; and Salinas-Monterey at No. 10."

"The top metro foreclosure rate in Florida was once again posted by Cape Coral-Fort Myers, where one in every 91 households received a foreclosure filing — fourth highest among the nation’s metro foreclosure rates. The foreclosure rate in Fort Lauderdale, Fla., ranked No. 9. LasVegas continued to be the only city outside of California and Florida with a foreclosure rate ranking among the top 10. One in every 99 Las Vegas households received a foreclosure filing in June, more than five times the national average and No. 6 among the metro areas."

"Metro areas with foreclosure rates among the top 20 included Phoenix at No. 12, Detroit at No. 13, Miami at No. 15 and San Diego at No. 17"

RealtyTrac does not expect foreclosure activity to ease up until 2009.

Business leaders will find several meeting venues; each vary with amounts of meeting space that will accommodate groups of all sizes.  If you need a meeting room for 10 people or 1,000 people, you will find the perfect spot in Lake Havasu . 

Business leaders can choose from over 2,500 rooms in 25 different resorts and hotels.  All offer a full range of resort accommodations to make your meeting the best it can be.  Meeting rooms are offered ranging from economy to full-service amenities.  And best of all, these meeting venues boast golf courses, lakefront beaches, various group activities and awesome lake views.

Some of the most popular meeting venues among business leaders are the London Bridge Resort, the Nautical Inn Resort, the Holiday Inn, CV Wood Aquatic Center and many outdoor meeting areas. 

I hope that one of these great venues will host your next business meeting.

Among the key findings of the latest report from Radar Logic:

• The broad housing slump continued as consumers showed persistent lack of confidence and difficulty in financing home purchases.
• April 2008 continued to exhibit price per square foot (PPSF) weakness compared to last year in almost all markets. One MSA showed net year-over-year PPSF appreciation, one was neutral, and 23 declined.
• The Manhattan Condo market showed a 3.6% increase in PPSF year-over-year coupled with an increase in recent transactions despite a modest decline of 0.7% in month-over-month prices.
• Charlotte’s increase of 1.5% in year-over-year PPSF moved its rank among the 25 MSAs to number 1. This represents an increase over the 0.1% year-over-year PPSF appreciation last month.
• Columbus showed year-over-year PPSF appreciation of 0.2% for April 2008, which is an increase from last month’s year-over-year decline of 4.3%.
• New York declined 3.0% year-over-year in April 2008, its second decline in Radar Logic’s published history (beginning in 2000).
• Sacramento, the lowest-ranking MSA, showed a 31.7% decline from April 2007, which is consistent with last month’s decline of 30.6%.

 The ten biggest declines in per-square-foot values from last year were in these markets:

Sacramento (-31.7%)

Las Vegas (-29.9%),

San Diego (-28.1%)

Phoenix (-25.6%).

Los Angeles/Orange County (-23.4%).

Miami (-22.4%).

St. Louis (-19.8%).

San Francisco (-19.7%).

Tampa (-16.6%).

Detroit (-16.1%).

You can read the full Radar Logic report here.

After the game, come out to Spectator Point on the Island for a spectacular display of fireworks.  Show starts at 9:00pm.

I hope you and your family enjoy your 4^th of July in Lake Havasu City as much as I do every year.

 For a better view click:  armls-numbers-may-081

The number of monthly home sales continues to climb up as we head into the summer months.  The number of single family homes sold in the month of May was 5,333, which is close to even for last year's May numbers at 5,337.  This is definitely a relief for some sellers as the market has been enduring some extremely low sales numbers over the past year. Total single family listings for the month of May are also slightly down from last years numbers.  Total listings for May are 50,483 which gives us about 9.5 months worth of inventory overall.  Average days on market have also dipped under 100.  Some outlying areas have seen a nice boost in sales over the past 3 to 4 months, due in large part to bank owned properties being priced to sell. 

Queen Creek has seen an increase in the number of monthly sales by about 100% over the past few months.  To put this into perspective, at the month of May’s pace of buying in Queen Creek there is about 4.5 months worth of inventory available.  If you average out the 3 month climb in sales, there is approximately 5.5 months of inventory on the market today.  What will this do for home values in the area?  At an average sale price in the area of roughly $165,000, this still remains to be seen. With the number of foreclosures still coming on the market we may need to stay close to this buyer activity to help keep the pressure off of current home values. Glancing at the above chart it appears home prices have reached an area (of affordability?) that more buyers are willing to pull the trigger, and purchase. 

Thinking about selling your home in the Phoenix area, including Gilbert, Chandler, Mesa, Tempe, Queen Creek and other surrounding areas?  Please feel free to contact me for more information on listing your home for sale. You can call at 480-529-6329, or email me at Nathan@ezlistaz.com.

Freedom Wireless Fabulous 4^th in Phoenix begins Friday, July 4^th at 6:00pm at Steele Indian School Park .  The city has held this great event for 23 years.  This event will feature inflatable rides, entertainment from local artists, food, drinks, free shuttles, and a water spray zone provided by the Phoenix Fire Department. 

The biggest display of fireworks in the state will begin at 9:30.

I hope you enjoy the fireworks as much as I have over the years.  And when you are in need of a real estate agent to show you around some of Phoenix ’s homes for sale, contact me.

You need to expect the best personal service.  A really good Realtor® will have no problem making you feel like you are their only client, even when working with several others.  A hard working Realtor® will stay in touch by phone or email.  They will answer all your questions and always give important feedback. 

Expect experience.  Your Realtor® is experienced if they have dealt with multiple home sales in a variety of sale situations and are in the top tier of Realtors in their area. 

You should expect cooperation.  A good Realtor® will cooperate with other agents to pitch your home to their buyers in hopes of bringing lots of potential buyers to your door.

Always expect the latest technology.  I have invested time and money into the latest technology and believe other Realtors should, too.  A successful website is a good start, but there is much more to being hip with the latest technology.  There's tons of time needed to be on top of the game. Therefore, I use the help of a Certified Real Estate Support Specialist so I have more time to focus on my clients and their needs. 

Aggressive advertising should be expected.  The Realtor® should advertise your home and themselves  to increase visibility of your property.  Print media and Internet exposure are the best ways to advertise, but the Realtor® should also advertise by yard sign, color brochures, post cards and flyers.

If you need Realtor® that fits all the expected requirements, contact me and I will get your home sold.