PHOENIX RANKS 5TH FOR MIGRATION OF PEOPLE

This is why our real estate market is recovery more quickly, people are still moving here or buying second homes here. I can't tell you how many out of state buyers we have sold homes to or are working with to buy homes, there are a ton. I wanted to share this good news about the Phoenix Market.

5 cities where Americans are relocating
U.S. migration may be down overall, but these vibrant metro areas are still attracting newcomers.
By Forbes
Austin, Texas, is No. 2 on the list of cities where Americans are relocating. © Brandon Seidel/Shutterstock
Unemployment is on the rise, credit is tight and consumers aren't spending — which means they aren't picking up and moving much, either. Very few places in America saw significant population growth in 2008.
Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers — even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.

Top 5 cities where Americans are relocating
1. Raleigh, N.C.
2. Austin, Texas
3. Charlotte, N.C.
4. Phoenix
5. Dallas
Read the rest of the story: http://realestate.msn.com/article.aspx?cp-documentid=19873357&GT1=35000

WITH HOUSING TURN AROUND WILL COME RETAIL SALES AND JOBS

This is just the beginning. With all these homes selling that are in need of repair, Home Depot and lowe's are going to be increasing sales and profits. We are moving in the right direction.

Just my opinion...Jeff Cameron

Depot Profit Rises on Cost Cuts

Topics:Recession Housing Retail Sales Stock Market Earnings

Sectors:Retail

Companies:Home Depot Inc

By: Reuters 19 May 2009 07:50 AM ET

Text Size

Home Depot's quarterly profit beat Wall Street estimates on Tuesday as the world's largest home improvement chain reined in expenses.

Neubie Home Depot Store

The results came the day after rival Lowe's reported better-than-expected quarterly earnings as it saw some strength in outdoor projects during the spring, even though consumers still kept away big-ticket home renovations.

Read the rest of the story: http://www.cnbc.com/id/30819686

FINALLY, SOME REPORTS ON HIGHER SALES OF HOME

It is so nice to finally see some real reports on how much the home sales have jumped recently. This report shows home sales in Arizona are up 50.2%. Prices are down, but sales are up. We need demand to take over before we see price increases. They are coming soon, well coming now in some areas. Below is taken from the article quoted after this quick quote, there is a link to the whole article at the end.
Just my opinion...Jeff Cameron
The largest sales gains were seen in some of the hardest hit areas. Nevada was up 116.8 percent from a year ago. California was up 80.6 percent. Arizona was up 50.2 percent and Florida was up 25 percent.

First time homebuyers taking advantage of foreclosures and short sales

Lita Epstein
May 12th 2009 at 10:00AM

About half of all home purchases in the first quarter of 2009 were first-time home buyers taking advantage of the deeply discounted foreclosures and short sales, as well as their $8,000 tax credit, according to the National Association of Realtors (NAR). NAR released its Metropolitan Median Prices survey for the first quarter today.
read the rest of the story: http://www.dailyfinance.com/2009/05/12/first-time-homebuyers-taking-advantage-of-foreclosures-and-short/

PENDING HOME SALES RISE ACROSS NATION, SOAR IN ARIZONA

I just returned from a convention in LA with famed real estate motivated and trainer, Tom Ferry. Top agents from across the country were present to learn and share what's happening in their markets. The tone was up beat, all agents were reporting tremendous activity in their markets. Some are seeing bidding wars where 20 offers bid a home 20% over asking price the first few days on the market.
Nationally, the news rocking Wall Street yesterday was that Pending Home Sales Index had risen 3.2%, greater than expected and is 1.1% higher than this time last year. I am not sure what the rest of the country is experiencing, but the reports from agents were good. Here in the Phoenix metro area, I have been tracking the market in a spread sheet since 2005. I track only single family homes, don't like the tricky maneuvers of condo conversions and the like to mess with my numbers. Last year at this time. we had 7,292 single family home pending in our market place. This year, we have 15,563. That increase is well over 100%, actually around 113%. FOLKS THE MARKET IS RECOVERING. I can't believe how slow the press and Wall Street are to actual numbers.
The article below is from WWW.CNBC.COM
Pending sales of existing U.S. homes rose in March for a second straight month, a private survey showed on Monday, supporting views the housing market was close to hitting a bottom.
Meanwhile, US construction spending rose a slim 0.3 percent in March in the first increase since September, according to government data that beat analysts' forecasts of a 1.5 percent drop.
AP
--------------------------------------------------------------------------------
The National Association of Realtors Pending Home Sales Index, based on contracts signed in March, rose 3.2 percent to 84.6. February's pending home sales index was slightly revised down to 82.0 from 82.1.
Compared to the same period a year ago, pending home sales rose 1.1 percent.
Economists polled by Reuters had forecast pending home sales to be flat in March.
Read the rest of the storey: http://www.cnbc.com/id/30559126

Just my opinion...Jeff Cameron

Weekly Real Estate Update From Jeff Cameron!

TokBox - Free Video Chat and Video Messaging

Monthy Real Estate Update!

Click the Arrow below and see my monthly real estate update. Some of the facts and data are below in graphs and dialog.

Let me know if you have any questions.

http://www.tokbox.com/?e=

Click on any graph to make it bigger.

Home closings soared in March. At the graph was created 6,755 single family home closings were recorded in March. That number has been adjusted up to 6,851 as of April 3rd. This represents the 3rd best March ever for single family home closings. At the rate homes are selling we should close over 8,000 in April. When comparing to May of 2006, a time when the market was in good condition, we now have about the same amount of homes on the market as we did in May of 2006, but we are selling twice as many homes. Over 2,400 single family homes sold last week, compared to about 1,200 in May of 2006.

Again, click on the graph to make it larger and easier to read.

Below is a graph of weekly home closings in the metro Phoenix area. You will see the partial line which is 2009. The home sales in 2009 are substantially higher than any other year, other than 2004 and 2005. Demand has returned to the market.

Click on the graph to make it larger and easier to read.

Below is a graph of the inventory levels of single family homes over the past 3 years. You can see, supply is contracting. The fact that demand is increasing while supply is decreasing, these are the ingredients for a market recovery. Remember 70% of the homes selling today are in need of some level of rehab. This should start to bring more demand to other goods and services for home improvement, appliances and landscaping.

Remember to see new listings of foreclosed homes before most Brokers have a chance to see them, visit: www.ArizonaBankDeals.com

Jeff Cameron

Weekly Market Update!!

www.tokbox.com

Wonderful Home with HUGE MAN SIZED GARAGE just reduced in price!! Get it before it goes!

Wow, what a beautiful home on 1+ acre lot in New River with mountain views in every direction! Fantastic Great room floor plan! This home is full of upgrades from chiseled edge granite countertops, huge breakfast bar, 20' faux travertine, custom knotty alder cabinets and 8' interior doors, plantation shutters throughout, stainless appliances, ceiling fans in every room, 10' ceilings, jacuzzi tub and large walk in closet in the master plus top notch construction quality with extra insulation t/o. Including 14 & 16 seer A/C, Low E windows, roof has 90 lb rolled underlay and the entire home is over engineered. But WAIT, Looking for RV garage, Shop, Home office, or even Guest house? The owner built a fantastic 58 x 40 Super Garage. It has a 14 ft insulated door and was built with Full Sheer.

What a STEAL!!! This 2 Million Dollar home listed for WAY less!!

Beautiful private retreat located inEl Chorro Estates in the heart of Paradise Valley. Privately gated w/circular drive this home sits on 1.45 acres of land! With 5 bedrooms, 5.5 baths, bonus room & huge formal living room, this home is very spacious. You will find all the expected finishing touches: granite slab, 18'' travertine floors, coffered ceilings, custom cabinetry and built-in fridge w/wood panels. Huge family room with open kitchen, wet bar & built-in entertainment center, of course, there is surround sound & speakers throughout the home. Gourmet kitchen offers gas cooking, vegetable sink, big island and breakfast bar! Outside there is room to roam. Beautiful pebble tech pool & spa are heated for year round use. Lush tropical landscape, in the shadow of Camelback Mountain.

Another Bank Owned Home Priced To Seel Brought To You By The Cameron Team!

Bank Owned and Priced to Sell! Located in Cresta Norte gated subdivision located in the Desert Mountain area! This Greatroom floor plan is a 2 x 2 split with 3 Baths. Large open kitchen offers Granite counters and built in Stainless steel fridge. Large yard with pebble tech pool, rock water fall, large covered patio and mountain views. Master offers snail shower and large walk in closet with organizer. The lot is elevated and offers city views from the front and mountain views to the rear.

REDUCED IN PRICE!! Fantastic Patio Home In The Heart Of Everything!

Fantastic patio home in the heart of everything...just minutes from the 51 and downtown, PV mall, Desert Ridge and Kierland! Perfect location in the middle of the community, out the back gate and the community pool feels like a private pool. Split floor plan 2 bedroom and 2 bath. Recently replaced the appliances and all new A/C system 2/08 $3,600. In 2001 both baths were remodeled and the master is handicap accessible. New dual pane doors and windows in 2005, over $8K invested. Cute patio with tile floor, fun for these beautiful days! Ceiling fans in both beds and great room.

Beautiful Private Retreat Just Reduced In Price By The Cameron Team!! A MUST SEE!!

Beautiful private retreat located inEl Chorro Estates in the heart of Paradise Valley. Privately gated w/circular drive this home sits on 1.45 acres of land! With 5 bedrooms, 5.5 baths, bonus room & huge formal living room, this home is very spacious. You will find all the expected finishing touches: granite slab, 18'' travertine floors, coffered ceilings, custom cabinetry and built-in fridge w/wood panels. Huge family room with open kitchen, wet bar & built-in entertainment center, of course, there is surround sound & speakers throughout the home. Gourmet kitchen offers gas cooking, vegetable sink, big island and breakfast bar! Outside there is room to roam. Beautiful pebble tech pool & spa are heated for year round use. Lush tropical landscape, in the shadow of Camelback Mountain.

Home In Anthem Just Lowered In Price....Get This Great Deal Now!!!!

$168,900!!!

What a great lot location in Anthem! Very private, corner lot with lots of potential. Awesome 1,638 sq.ft.floorplan with 3 bedrooms, 2 baths plus front seperate formal living/dining and family room. Very open and spacious floorplan! This home and the community offer so much for such a little purchase price! We get RESPONSES in 48-72 hour! **Buyer agrees to review & sign all bank addendums. All contracts/offers are subject to IndyMac Banks approval & any offers or counter offers by IndyMac Bank are not binding unless the entire agreement is ratified by all parties. Buyer must be approved by IndyMac lender by may use lender of choice. Any cash offers, must include proof of funds & buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE

PRICE REDUCED On A Great 1+Acre Lot In North Scottsdale!!!

Beautiful level lot in the heart of Scottsdale. Only $ 190,000!! Priced to sell below what I paid for it in January. Change of plans forces this great buy. Over an Acre and in Scottsdale with Mountain views, you will love this lot. Some engineering work done. Call for details. Seller is a licensed Realtor.***************SHORT SALE************* GREAT OPPORTUNITY! Different kind of Short Sale, we are carrying a note for the shortage. Should be quicker

The Cameron Team Did It Again!! Bank Owned Listing Under Contract!!

Investors here you go. Bank says sell 'AS IS' there will be no repairs. This is a great opportunity to put some work together and make a profit. HOA says they fixed roof leak, buyer to verify!!! Needs appliances, cabinet work, paint and cleaning.

GDP DROPS BY .3%, LESS THAN .5% EXPECTED

Finally, it is here. The recession. We have been hearing about it for a year or so and it finally arrived. The good thing about the arrival is that the departure is now on the horizon. We all knew it was coming. Now, let's not be shocked, let's push through it.
GDP dropped by .3% for the 3rd quarter, less than what economist forecast of .5% drop. As this real estate market continues to recover, it will help us pull out of the recession. Remember, home sales here in the valley are up 102% when comparing September 2008 to September 2007. These are signs of a turn around. Oh, how about 2 of my listings getting multiple offers and selling over list price this week. Priced slightly aggressive, they attracted multiple offers and will sell higher than the last sales. How is that for a pricing strategy???



Signs of Recession: Growth Shrinks, Consumers Retreat

AP 30 Oct 2008 09:43 AM ET
The economy jolted into reverse during the third quarter as consumers cut back on their spending by the biggest amount in 28 years, the strongest signal yet the country has slipped into recession.
The broadest barometer of the nation's economic health, gross domestic product, shrank at a 0.3 percent annual rate in the July-September quarter, the Commerce Department reported Thursday.
It marked the worst showing since the economy contracted at a 1.4 percent pace in the third quarter of 2001, when the nation was suffering through its last recession.
The latest GDP reading marked a rapid loss of traction for the economy, which logged growth of 2.8 percent in the second quarter, and is sure to buttress the belief of many economists that the nation is in the throes of a painful downturn.
The deterioration reflected a sharp retrenchment by consumers, whose spending accounts for the largest chunk of national economic activity.
Consumers ratcheted back their spending at a 3.1 percent pace in the third quarter, the most since the second quarter of 1980, when the country was in the grip of recession.
GDP measures the value of all goods and services produced within the United States and is the broadest barometer of the country's economic health.
The rest of the Story: http://www.cnbc.com/id/27453297

BFH, Brown Family Homes goes out of business

This is sad to see. BFH is a long standing good builder here in the valley. I have sold dozens of their homes over the years. I have always been impressed by their quality and integrity. Another good company down due to how other companies, wall street, run their business. I don't know the whole story...
Just my opinion
Jeff Cameron

Local builder goes out of business
Construction lender cut credit for Brown Family
by J. Craig Anderson - Oct. 28, 2008 12:00 AMThe Arizona Republic
Tempe-based home builder Brown Family Communities closed its doors Friday after more than three decades in the business.
Company founder Dave Brown said he was forced to cease operation and lay off all 60 employees because the company's construction lender, which he didn't want to name, was unwilling to extend additional credit to build new homes or finish homes under construction.
Brown said that means customers currently in the process of buying a Brown Family home would not be allowed to close the deal.
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Instead, the bank will keep those homes as collateral. Brown said that he would refund every customer's deposit.

Read the rest of the story: http://www.azcentral.com/business/articles/2008/10/28/20081028biz-homebuilder1028.html?&wired

SEPTEMBER EXISTING HOME SALES SURGE

Yes, existing homes sales are up 5.5% from September compared to August, but what is more important is September 2008 existing home sales here in Metro Phoenix are up over 100% compared to September 2007 sales. WHY IS THIS NOT BEING REPORTED IN THE NEWS????

September existing home sales up 5.5 percent By MARTIN CRUTSINGER, AP

A real estate trade group says sales of existing homes rose by the largest amount in more than five years in September. The data is a possible glimmer of hope that the housing slump could be starting to bottom out.
The National Association of Realtors said Friday that sales of existing homes rose by 5.5 percent in September compared to August, the best showing since a 5.6 percent increase in July 2003, during the five-year housing boom.
Even with the gain in sales, prices kept falling. The median sales price has dropped to $191,600, down by 9 percent from a year ago.

Karen Drive - Beautiful home priced to sell in McDowell Mountain Ranch !!

Decorator design and fancy upgrades dress this home. This great room floor plan is an excellent use of space and a split floor plan. Gourmet kitchen offers Slab Granite counters, Stainless Steel appliances, Undermount sink, Pendant lighting and a Gas cooktop. Custom paint and window coverings throughout the home. Vaulted ceilings and a built in Entertainment center with flush mounted speakers for surround sound, make this great room grand. Upgraded sculpted carpeting and stone like tile floors throughout. The back yard is fun, built in BBQ, Gas firepit, Banco and putting green to practice your game. Master offers built in closet organizer for ultimate use of space. The 2 car garage has a water softener to fight the hard water. This home is perfectly turn key!

For more information and pictures, click on:

http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/2A6F675B-C3A6-5362-A03DB7C72BBBEA18.shtml

1st Street - Great deal on 3 bedroom, 2.5 bath Condo !!

Priced like a 'short sale' or 'foreclosure' but NOT Either, we can close in 30 days! This home offers a private entry on the south side of the building, over looking the Spa. Inside find a gourmet kitchen with Slab Granite counters and stainless steel appliances, and yes fridge, washer and dryer included. Patio off the kitchen breakfast room. 3 spacious bedrooms and 2.5 baths include a Jack n Jill set up. Ceiling fans, Two tone paint, Tile flooring and upgraded carpet dress this property. Perfect for the college roommates or someone loving the Urban lifestyle, this home is just off the heart of Mill avenue.3 Car garage and plenty of storage. My seller's loss is Your buyer's Gain!
For more information and pictures, click on: http://www.thecameronteam.com/listings/25D5AA27-E7C0-0A7D-3BB9C78EA09C0049.shtml