Michelle Owens (Home Smart Realty) Phoenix, Arizona 0

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Encanto park suffers from the economic down turn

2010-06-11 18:01:53

Phoenix is home to one of the top 12 urban parks in America according to Forbs. The park is getting ready to celebrate its 75^th year. It is a jewel in the Phoenix crown, but is being plagued by a bad economy and budget cuts. Approximately 5 million from the Phoenix parks and preserve initiative was earmarked for Encanto, but with our economy still struggling those funds may not be available for 2 to 3 more years according to deputy parks director Karen Williams. This beautiful park is composed of 222 acres; though it is much smaller then Central Park in New York at 843 acres it is a crown jewel for Phoenix that we should not forget. One private group called Friends of Encanto Park is actively working to raise money to help improve the park. Encanto has a rich history in Phoenix and it is important to preserve this rare free place for families to enjoy.

Now is the time to buy in the luxury market

2010-06-07 11:20:20

Now is the time to purchase that luxury home for a bargain price. Three years into this housing slump luxury homes are beginning to see steep discounts. Despite the beginnings of an economic recovery buyers are struggling to come up with the money for the large down payments and qualify for big jumbo mortgages. With homes languishing on the market sellers are beginning to capitulate by cutting prices to move their properties.

The million plus market seems to be ripe for falling home prices. Until now the drops in real estate have been primarily the lower end properties. The miss match of supply and demand is highest in the million plus market. The best deals will be on homes that might need a bit of work or are not in the most highly sought after locations.

Many finance experts suggest not waiting and predict that mortgage rates are due to rise form the historic lows that are being offered today. The result is that buyers with access to lots of cash can find some fabulous deals right now on the home of their dreams that might not have been attainable three years ago.

Phoenix real estate market shows signs of recovery

2010-05-23 19:10:16

According to April sales figures the Phoenix market is showing some promising signs of recovery. The April sales figures were boosted by the final wave of people seeking to take advantage of the first time homebuyer and move up tax credit. According to real estate analyst Tom Ruff foreclosures may be making the downward turn. Foreclosures and pre-foreclosures both fell during the month of April. Foreclosures fell by about 20% for the month of April. About 34 percent of the April buyers paid with cash. In comparison with the last two years notices of Trustee sale were quite light for the month of April, with 7061 being served which is 22% lower that April of the previous year. All in all these are positive trends for the Phoenix real estate market. Still demand remains strong driven by low prices, and low interest rates. Canadians in particular seem to be investing in our real estate which is good for our economy.

Phoenix showing signs that construction is turning

2010-05-13 10:36:05

Both residential and commercial construction have remained stagnant for the past two years, but Phoenix is finally showing signs of a turnaround. According to Scott Macpherson, principal of Ryder Levett Bucknall construction is gaining ground again. Construction numbers showed strength in the first quarter of this year. This is good news for Arizona real estate. Maricopa, Pinal and Pima counties all showed impressive double digit gains. The Phoenix market appears to be turning the corner with sales up about 2% for the month of April over last years numbers. If you are thinking about purchasing a new home now is most certainly the time to buy. Homes values abound and rates are still near historic lows.

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