Entries from June 2009

Live Jam Session Tonight

June 30th, 2009 · 2 Comments

Houses for sale are promoted on hundreds of websites for thousands of buyers to view on the public domain.  Most homes only get one chance to impress buyers.

Will buyers be impressed by this real estate promotional photo of a band playing in the house?

music band playing people in real estate photos Phoenix home house

Will buyers be impressed by the albino rat in a cage with a sailboat on top?

albino rat in a cage bedroom sailboat exercise ball bad MLS photos Phoenix home house

If there’s an earthquake, someone gets konked in the head.

green glass bottles bedroom bad MLS photos Phoenix home house

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Tags: Staging · Bedroom · Phoenix Homes · Stuffed Animals · Pets · People In Photos

Ugly Kitchen & Ugly Drapes

June 30th, 2009 · 2 Comments

Ugly kitchen with ugly wall A/C unit hole and ugly flooring.  Think that one light is enough to brighten up the entire kitchen?

ugly kitchen flooring cabinets hole in the wall bad MLS photos Phoenix home house

Ugly drapes and ugly black tile floor.  And outdated brass & glass light.

ugly drapes curtains black tile floor bad MLS photos Phoenix home house

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Tags: Kitchen · Window Coverings · Phoenix Homes · Lighting

Hide the Fireplace

June 30th, 2009 · 2 Comments

Buyers don’t want to see fireplaces.  They’d rather see baby equipment, right?

baby stuff fireplace poor home staging bad MLS photos Phoenix house real estate

Is the house the focal point of this photo?

semi truck parked on driveway bad MLS photos Phoenix house real estate

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Tags: Staging · Driveway · Fireplace · Phoenix Homes

Piano Included

June 30th, 2009 · 2 Comments

The sellers of this Glendale, Arizona home are including a piano in the sale.  This is a room addition they built.

piano room addition Glendale Arizona home house real estate

Lots of gopher holes in the back yard?

back yard piles of dirt gopher holes bulldozer Glendale Arizona home house real estate

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Tags: Landscaping · Back Yard · Glendale, AZ Homes · Room Addition

Garage Conversion

June 30th, 2009 · 2 Comments

Converting carports or garages into living space is usually a disaster:  poor insulation, poor heating and cooling, grading issues, electric issues, zoning violations, lack of proper city permits, etc.

Here we have a one-car garage converted to a bedroom.  The owners were nice enough to leave the garage door support racks intact.  Sure to impress buyers.

garage conversion bedroom support racks bad MLS photos Phoenix home house

This home went into foreclosure and suffered extensive damage to the hallway.

hallway vandalism wall damage foreclosure fixer-upper Phoenix home house

The kitchen was stripped clean of cabinets and appliances and then damaged further.

kitchen vandalism wall damage foreclosure fixer-upper Phoenix home house

Parts of the heater were stolen.

heater vandalism wall damage foreclosure fixer-upper Phoenix home house

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Tags: Kitchen · Garage or Carport · Bedroom · Foreclosure · Phoenix Homes · Fixer-Upper · Drywall Damage

Booze & Pills Don’t Mix

June 29th, 2009 · 3 Comments

Two bottles of liquor and three prescription bottles on the dresser.  And some handi-wipes.  Plus other clutter.  Box of popcorn for watching movies in bed.

two bottles of liquor booze three prescriptions clutter bedroom bad MLS photos Phoenix

Lots of stuff on the walls of the other bedroom.

posters pictures wall clutter bedroom bad MLS photos Phoenix home house

You can work off the calories right after you eat.

clutter dining room exercise bike bad MLS photos Phoenix home house

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Tags: Staging · Bedroom · Clutter · Phoenix Homes · Dining Room

Real Estate Statistics For Phoenix, Arizona - June 29, 2009

June 29th, 2009 · No Comments

Real Estate Statistics - June 29, 2009 update:

Bank-Owned Active Listings: There are only 4,582 active bank-owned foreclosure listings in all of the Phoenix metro area, up 17 from last week.  Buyers are absorbing the new foreclosure listings.  There is less than a one-month’s supply of foreclosure listings now in the Phoenix metro area.

Pending sales (properties currently under contract):
Currently, there are 13,549 pending sales in the Phoenix metro area plus an additional 5,479 contingency sales (shaky contracts).  Pending sales reached a high for the year on Friday May 15th at 14,374, which is the highest number of currently pending sales ever on record.  When you add the contingency contracts to the pending contracts, we had 19,354 properties under contract at one time on Friday, June 25th, the highest amount on record!  The total number of properties under contract today is 19,028.  Expect this number to drop significantly next week as the final two days on June will be heavy sales days.

Inventory continues to decline.  There are currently 32,533 active listings in MLS as of June 29, 2009, down 374 from last week.  For comparison, the highest number of active listings in 2009 was 52,685 on January 14th.  That’s over 37 percent drop in inventory in 5 months!  Over 20,000 fewer properties in 5 months.  This has resulted in multiple offers for lower priced listings.  We are in a seller’s market in the under-$250,000 price range.

Sales:
The number of contingency sales (shaky contracts) continues to climb and climb (currently 5,479, up from only 700 in early January and up 60 since last week), but they have not converted to actual sales.  Most of these contingency sales are short sale listings where buyers put in offers and then wait and wait and wait for the banks to decide yes or no.  It’s so bad that on Friday, June 26th, only 0.3% of the contingency contracts actually sold, whereas 2.3% of the pending contracts actually sold.

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Let’s look at Phoenix, Arizona specifically.

For the city of Phoenix only, as of June 29, 2009.  Numbers are based on the orange 90-day lines. However, check out the black lines (7-day trends).  The Phoenix real estate market has shifted to a seller’s market.

Median sales price for Phoenix properties: $185,908 (up $2,577 in the past week). The median sales price has increased twelve times in the past thirteen weeks.

phxdata090628median.jpg

Inventory of properties for sale in Phoenix: 7,011 (down 194 in the last week).

phxdata090628inventory.jpg

Median price per square foot for Phoenix properties: $106/sqft, no change in the last week for an increase in 8 of the past 10 weeks.

phxdata090628pricesqft.jpg

Average days on market for Phoenix properties: The average number of days on market refers to active listings, not sold properties.  Active listings are averaging 186 days on the market.

phxdata090628avedays.jpg

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Tags: Real Estate Statistics · Real Estate News

Dream Home

June 29th, 2009 · 3 Comments

Actual photo used to promote a Phoenix home, and it’s the main photo.  The caption reads, “Dream home.”  Looks magical.

090629h.jpg

Buyers will be in for a big surprise when they realize the home looks like this.  The seller added a photo from Google Street Maps to the listing.  It was too hot to go outside and take a real photo?

090629i.jpg

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Tags: What Were They Thinking?!?! · Phoenix Homes

Stop Gunky Build-Up - Use Shell

June 29th, 2009 · 1 Comment

Unique window coverings were used in this Phoenix fixer-upper home.

boarded up windows foreclosure home house Phoenix fixer-upper

boarded up windows foreclosure home house Phoenix fixer-upper

boarded up windows foreclosure home house Phoenix fixer-upper

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Tags: Foreclosure · Window Coverings · Phoenix Homes · Fixer-Upper

Criss-Cross Paint

June 29th, 2009 · 3 Comments

Family room with red and pink paint.  Through the doorway, we see purple criss-cross paint in the kitchen.

red pink purple criss-cross paint pattern Phoenix home house

The purple contrasts nicely with the bright yellow cabinet paint.

yellow purple criss-cross paint pattern Phoenix home house

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Tags: Kitchen · Phoenix Homes · Faux Paint & Murals · Cabinets