Entries from August 2009

Wood Paneling Showroom

August 31st, 2009 · 3 Comments

This Phoenix home loves wood paneling.  In fact, they have four different types of wood paneling in the house.  Aren’t the orange drapes pretty?  Almost as pretty as the filthy carpet.  And yes, people do live like this.

ugly wood paneling filthy dirty carpet horrible orange window valances Phoenix home house

ugly wood paneling Phoenix home house

ugly wood paneling Phoenix home house

ugly wood paneling Phoenix home house

What?  No wood paneling in this bedroom?!  Dirty blue carpet.  The sellers sure spilled a lot.

ugly bedroom mirrors Phoenix home house dirty blue carpet

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Tags: Carpet · Bedroom · Window Coverings · Phoenix Homes · Wood Paneling · Dirt, Dust, & Filth

Real Estate Statistics For Phoenix, Arizona - August 31, 2009

August 31st, 2009 · No Comments

Real Estate Statistics - August 31, 2009 update:

Bank-Owned Active Listings: There are only 4,439 active bank-owned foreclosure listings in all of the Phoenix metro area, down 106 properties from last week.  Banks are holding back on releasing foreclosure listings at a time when the market can handle it.  There is still 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 12,606 pending sales in the Phoenix metro area plus an additional 6,204 contingency sales (shaky contracts).  The total number of properties under contract today is 18,810, up 25 from last week.

More and more buyers are being fooled into making offers on short sale listings.  Currently 9,037 properties under contract are short sale listings, or 48% of the total market in the Phoenix area.  This number keeps growing every week because the listings are not converting to actual sales; it’s like being in limbo forever.  Banks are taking 3-4 months to make a decision on short sale contracts and even then the percent that is actually approved is minimal.

Inventory: Inventory has continued to decline since January.  There are currently 31,304 active listings in MLS as of August 31, 2009, down 95 from last week.  For comparison, the highest number of active listings in 2009 was 52,685 on January 14th.  That’s a 40 percent drop in inventory in 7 months!  Almost 21,400 fewer properties.  This has resulted in multiple offers for lower priced listings.  We are in a seller’s market in the under-$250,000 price range.

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Let’s look at Phoenix, Arizona specifically.

For the city of Phoenix only, as of August 31, 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: $187,535 (down $1,077 in the past week).  This is the fourth week of median sale price decline.  There is no explanation for this other than a lot of lower priced foreclosure homes are selling and the “normal” buyers have already settled into their higher priced homes before the school year started.

phxdata090831median.jpg

Inventory of properties for sale in Phoenix: 6,067 (down 37 in the last week).

phxdata090831inventory.jpg

Median price per square foot for Phoenix properties: $101/sqft, down $1/sqft in the last week.

phxdata090831pricesqft.jpg

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Tags: Real Estate Statistics · Real Estate News

Three Ugly Couches

August 31st, 2009 · 3 Comments

Ugly couch shoved in a corner.  Bright orange paint.  More paint slopped all over the windows.

ugly hideous couch sofa Phoenix home house real estate orange paint

Fancy schmancy.

ugly hideous couch sofa Phoenix home house real estate

This plaid couch is burping.

ugly hideous couch sofa Phoenix home house real estate

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Tags: Phoenix Homes · Ugly Couches/Chairs

Fake Flourish of Flowers

August 31st, 2009 · 3 Comments

Flowery wallpaper.  In the closet too.

flowery wallpaper bedroom Phoenix home house pink paint real estate photos

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Tags: Bedroom · Phoenix Homes · Wallpaper

Lovin’ the Southwest Décor

August 31st, 2009 · 2 Comments

Glendale, Arizona.  Hello, 1980s.  Hunter green carpet.  Metal framed dining chairs.  Glass dining table.  Painting of Indian pottery bought at Costco.  Window valances.  Glass & brass chandelier.

1980s Southwest décor hunter green carpet glass brass chandelier dining room Glendale AZ

Salmon paint in the family room.  1980s geometric mirror.  Kokopelli rug.  One of those bird song clocks on the wall (different bird chirp each hour), sure to drive the cat bonkers.  It hides in the cat house.

1980s Southwest décor salmon paint kokopelli rug mirrors family room Glendale AZ home

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Tags: Staging · Dining Room · Glendale, AZ Homes · Rugs · Art

Odd Photography & Furniture Placement

August 31st, 2009 · 1 Comment

Fish-eye lenses and wide angle shots are used frequently for real estate promotional photography.  If done properly, they can show off a large room.  Other times, they confuse buyers.  This living room, in particular, looks distorted and looks like the fireplace is being ignored.

fish-eye camera lens poor real estate photography distorted view living room Phoenix home

Maybe the furniture does face the fireplace.  The overall feeling from these photos is too much furniture in the room.  The intent was to make the room look bigger, but it did the opposite.

fish-eye camera lens poor real estate photography distorted view living room Phoenix home

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Tags: Staging · Phoenix Homes · Poor Photography

Awful Austin, Texas Home

August 30th, 2009 · 3 Comments

Fixer-upper home in Austin from top to bottom.  A little electric fire in the hallway.

electric outlet fire smoke safety issue hazard Austin Texas home house fixer-upper

Mildew in the shower grout.  Gross.

mildew shower tub grout bathroom Austin Texas home house fixer-upper

Huge crack on the patio.

huge structural crack concrete patio floor Austin Texas home house fixer-upper

Terrible roofing job on the patio overhang.  They could have trimmed the shingles and installed proper flashing.

untrimmed roof shingles no flashing Austin Texas home house fixer-upper

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Tags: Roof · Bathroom · Safety Issue · Patio · Mold & Mildew · Fixer-Upper · Other US Cities

Belly Up To the Bar In Luling, Texas

August 30th, 2009 · 3 Comments

Texas sized wet bar.  Mirrored wall.  Glass shelves with brass brackets.  If you get really desperate, have a shot of rubbing alcohol with a certain 1988 presidential candidate’s wife.

ugly wet bar Luling Texas home house bad MLS photos real estate

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Tags: Staging · Other US Cities

Needs Help In Del Valle, Texas

August 30th, 2009 · 3 Comments

Handyman’s special, that’s for sure.  Check out the awful kitchen.  The sloping cabinet helps drain water into the sink when using a dish rack.  The exhaust hood is hanging by a wire on the left.  The 220v electric outlet for the oven is located above the sink; seems kinda dangerous.  There is a possibility that this is actually a laundry room.  A mess regardless.

fixer-upper foreclosure home house Del Valle Texas kitchen cabinets

They used peel & stick vinyl floor tiles on the bathroom walls!!  And now they are peeling off.  Big surprise.

fixer-upper foreclosure home house Del Valle Texas bathroom vinyl floor tiles peeling

Horrible structural crack going from the top left of the window to the bottom right.  Foundation problems??

fixer-upper foreclosure home house Del Valle Texas bathroom structural crack foundation

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Tags: Bathroom · Kitchen · Foreclosure · Cabinets · Fixer-Upper · Other US Cities

Mold Disaster In Washington

August 30th, 2009 · 7 Comments

Major mold & mildew infestation at a Federal Way, Washington home.

major mold mildew damage Federal Way Washington foreclosure home house unhealthy

The home’s description reads:  “Not for the faint of heart or respiratory system!  We have MOLD and lot’s of it.  The majority of the basement is covered in black mold and in biblical proportions.  Still working on getting the bank to get a mold report, but suspect the worse.  This is for the serious investor, and considered uninhabitable at this time.  Bring a gas mask.  Excellent area of finer homes.”

Can’t say they didn’t warn us or disclose the problem.

major mold mildew damage Federal Way Washington foreclosure home house unhealthy

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Tags: Foreclosure · Mold & Mildew · Other US Cities · Basement