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Jeff Cameron and The Cameron Team

The Cameron Team Closes 4 Homes In The Last Week!

The Cameron Team has succesfully closed 4 homes in the metro phoenix area in the last week! Three of the four homes were bank owned! Cheerywood was sold by Jeff and Galvin was sold by Tony! We were the listing agents on San Miguel and Citrus Canyon!

GOOOOOOOOOOOO CAMERON TEAM!

Cherrywood~METICULOUS Chandler home that is Move-IN ready with 3 bedrooms, 3 full bathrooms, den/office with built ins, formal living & dining room, eat in kitchen and family room. Open floor plan, Split master bedroom with bay window overlooking the backyard, large master bath and custom closet. Lovely, private backyard landscaping with HEATED pool, large covered patio and red brick walkway. 3 car garage with insulated attic. Electrical upgrades with designated circuits to the office, game room, home theater and garage. Soft water & R/O system. Liquid stucco on exterior with 25 year warranty.

Citrus Canyon~ 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!

San Miguel~ Not your everyday REO, this beautiful central corridor remodel is turn key! 18'' tile floors throughout except the bedrooms. Granite slab in kitchen and baths! Kitchen fully remodeled with Hickory cabinets, Stainless appliances and granite slab. Family room added with fireplace. Large yard with room for pool! New hardware and doors! no dishwasher at home. FANTASTIC LOCATION

Galvin~NOT a short sale...corporate owned...much better!! Great property on almost an acre! Private pool, Separate casita with garage and decorative paint! Home needs minor cosmetic TLC. Come get it! Property to be sold as is. No disclosures, as seller has never lived in home.

Jeff Camerons Weekly Real Estate Update!!

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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

Looking for Good News for the AZ Real Estate Market?

Hello,

it is May 1st and the April numbers are out! As I have been reporting over the past weeks, sales have taken off! Below you can view several charts detailing and affirming this action in our real estate Market. Let's look at a couple of facts, shall we???? Single Family Home closings in April are up 84.9% compared to last year, how is that for a good stat? Why do news reporters not report good news? Sales rocketed in 2005, when comparing April 2009 closings to April 2005, we are only 200 lower this year. We beat 2004 April closings this year. I suspect we will be beating the 2005 numbers real quick.





The chart above shows single family home closings for the first 4 months of each of the last 9 years. 2009 is on FIRE!






Here is another look at single family home closings over the past 9 years.






This chart shows months of Inventory of available homes compared to Pending homes. You can see that we have returned to levels of 2005.





This chart shows the actual number of single family homes on the market. It goes back 3 years and we are now at lower levels than those of May 1, 2006!



Is it market turn around? What is happening in the market? Are we at a bottom? These are difficult questions to be precise with and usually can only answer with definitiveness several months after they have occurred. But let's use some common sense here, THE MARKET IS TURNING, BOTTOMING RECOVERING!

Another Wonderful Home in McDowell Mountain Ranch Just Listed By The Cameron Team!

A truly wonderful 3064 SQ FT Estate with all the right touches in McDowell Mountain Ranch. Diablo Travertine and wood style flooring throughout first level with carpet in the family room. Drywall niches in family room are perfect for big screen tv and art objects. Plantation shutters in downstairs rooms. Kitchen has ample cabinetry, black appliances and Sierra Series black corian counters. Upstairs has cherry finished wood floors with a balcony revealing fabulous view of the golf course, city lights, and mountains. Home has a den/loft that is perfect for a playroom or an office. The back yard is an entertainers dream with PebbleTech play pool, cozy built-in Kiva fireplace, and outdoor kitchen with built-in BBQ. Also, garage has built-in Cabinets.

IS THE END OF THE FINANCIAL CRISIS NEAR??

Wells Fargo is rocking Wall Street today, see article below. Are these the first signs of the recovery? No, the first signs were the recovery in the housing market. We began to bottom out when sales hit their low levels of only 700 per week in mid 2007. That was followed by price declines throughout 2008. In the beginning of 2009, sales regained their normal rate at about 1,500 per week. But as the market started to shift positively sales have soared! For the last 8 weeks, enough to make more than a trend, home sales have jumped to averages of over 2,000 sales per week. Over the past 2 weeks we have experienced 2,400 per week. At the same time, inventory levels have crashed, well relatively speaking. Inventories of single family homes are down 10% over the past 3 weeks and are down 17.6% YTD. These are the signs of a recovery in housing.
So, how did Wells Fargo turn around and make a profit???? I believe one of the biggest reasons is that they are paying, I don't even know, 1.5% on savings for a blended cost. Then lending that money at 5%. That is a huge spread! It seemed logical that if the Fed kept rates artificially low, it was only a matter of time where banks would start to profit from that. Also, since they have written down most of the "toxic" assets to zero, now when they sell them there is a profit there too.
Let's keep it rolling, this shift we experienced over the past 4 years was very difficult on me and I am ready to be a happy survivor!

Every major U.S. bank is rallying like mad on the heels of Wells Fmade a profit in the first quarter. WFC shares have spiked up 23 percent to $18.50 in early trading.

The financial firm said it expects to report record net income of approximately $3 billion for first quarter 2009, or approximately 55 cents per common share after preferred dividends, including $372 million in dividends paid to U.S. taxpayers on the U.S. Treasury's Capital Purchase argo (WFC) reporting that it Program investment.

The word "record" must floor investors based on the perception that American banks still face substantial write-offs from toxic assets, consumer loans, and commercial real estate.

Wells Fargo predicted that it would post total revenue of $20 billion, up an estimated 16 percent, driven by the core businesses it owned before buying Wachovia. Results at Wachovia were better than expected.

If one or two other large money center banks post strong results, there will be a temptation to think that the worst of the financial crisis is over.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Don't forget, see foreclosure homes before most agents even know they are there: www.ArizonaBankDeals.com

NEW Weekly Video Update From Jeff Cameron!

We are getting a lot of calls from people asking about the real estate market. Since the news is unable to report good news, I will. This is the first of weekly market reports for the Metro Phoenix area. Please don't hesitate to send me questions or call.

www.tokbox.com

Home in the HEART of everything just REDUCED in Price. Get this Cameron Team listed home now!

***Great new price 2/11/09***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.

Another 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.

HUGE JOB LOSSES FOR NOVEMBER, NOT THE END OF THE WORLD

Don't think I am crazy, but I think we are beginning the path to recovery. I was shocked that we gained jobs a year ago. With the real estate market falling apart, how could we be gaining jobs in the first half of 2008? Realtors, lenders, title agents, home inspectors, repair people, appraisers, builders, construction workers, furniture sales people and on were out of jobs a year ago. Why were we still gaining. Most of all, the real estate flippers and others making tons of money in the hey day, stopped buying all the goodies! The reality is the jobs market is a lagging indicator. I believe things are getting better. I don't know when everything will turn around, but things will be getting better. If you are one that is or has lost your job recently, it is going to be tough. I have sympathy for you and am not meaning to disrespect your position. Everything is cyclical and some get hurt in the beginning and others at the end of a cycle.
I know one positive note, houses are selling at a much greater pace than a year ago! That is at their adjusted values, buyers are now seeing value again. A rental property with an actual down payment, will cash flow today!
Just my opinion...Jeff Cameron


Employers cut 533,000 jobs from nonfarm payrolls in November, the sharpest job loss since December 1974 and much more than the 340,000 decline economists had expected. The unemployment rate rose to 6.7 percent from 6.5 percent.
The prior two months' job losses were revise to show that a total of 199,000 more jobs were lost than previously thought in September and October. That means 1.25 million jobs were lost in the last three months alone, bringing the total to nearly 2 million since the start of the year.
But unemployment is a lagging indicator, telling investors what has been more than what lies ahead.
read the rest of the article: http://www.cnbc.com/id/28067738

FEDERAL RESERVE TO PUMP $600 BILLION INTO HOUSING

It is about time they deal with the issue: Supply and Demand of Housing. That is it. To stop the bleeding, the supply of homes coming to the market must be slowed. Demand is back as buyers purchase homes at values not seen in nearly 5 years. Value is back. But the problem is there are still too many homes coming to the market and they are fighting for the buyers with their price. Here in Phoenix, one big problem is Short Sales. The government must stream line short sales now. Due to the long waiting period to get any type of answer, I am talking 3 to 8 months, buyers and Realtors are avoiding Short Sales. What does that do, the Short Sales must drop to outrageously low prices to attract a buyer. This drives the whole market lower! This is the $6 million dollar question; how to stabilize the Short Sales before the drive all values to ZERO! For example, single family home at Tatum and Bell, selling in the DAY for $400K, last sale $240K, NEW SHORT SALE LISTED at $175K. That is tomorrow's comp.
Just My Opinion...Jeff Cameron


Fed Unveils Plan to Support Mortgages, Consumer Credit
Topics:Interest Rates Consumers Federal Reserve Economy (Global) Economy (U.S.)
Reuters and CNBC.com 25 Nov 2008 08:27 AM ET
The U.S. Federal Reserve, in another massive life-support intervention for the U.S. financial system, Tuesday announced a $600 billion program to buy mortgage-related debt and securities and a $200 billion facility to buy consumer debt securities.
The U.S. central bank said it would buy up to $100 billion in debt issued by Fannie Mae, Freddie Mac, and the Federal Home Loan Banks, the government-sponsored mortgage finance
enterprises.
The Fed also said it would buy up to $500 billion in mortgage-backed securities backed by Fannie Mae, Freddie Mac, and Ginnie Mae.
The move is intended to strike at the heart of U.S. economic woes, the collapsed housing market.
"This action is being taken to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved financial conditions more generally," the Fed said in a statement.
Read the rest of the story: http://www.cnbc.com/id/27906891

Q3 GDP DROPS 0.5%

We are so statistic driven. OK, now that we have a recorded drop in the Q3 GDP of 0.5% will everyone agree we are in a recession that could get worse. My shock is that this was inevitable last year. You can't stop building homes and not affect the economy. I remember arguing with my stock broker last year, when selling retirement funds and going to an all cash position. He said, "you can't time the market Jeff!" I said, I can use my brain. Why walk through the big hole when I could walk around it????
Just My Opinion...Jeff Cameron

Economy Drops 0.5%, Worst Fall in 7 Years
AP 25 Nov 2008 08:50 AM ET
The economy took a tumble in the summer that was worse than first thought as American consumers throttled back their spending by the most in 28 years, further proof the country is almost certainly in the throes of a painful recession.
The updated reading on the economy's performance, released Tuesday by the Commerce Department, showed gross domestic product shrank at a 0.5 percent annual rate in the July-September quarter.
That was weaker than the 0.3 percent rate of decline first estimated a month ago, and 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.
Read the rest of the story: http://www.cnbc.com/id/27905989

Another Great Home for Sale in Lane at Bel Esprit!

Beautiful home located in Lane at Bel Esprit. Realistic sellers on price ~ This is NOT a short sale or REO! This 3 bedroom + loft can easily be converted to a 4 bedroom home. Backyard offers pebbletech play pool, stucco and painted walls, covered patio and colorful flowering. Inside you will find faux wood floors, gas fireplace, wood blinds, custom painting and decorative lighting. The kitchen offers raised panel cabinets, microwave and gas cooking. Home is convenient to 101 & 51 Freeways plus Desert Ridge, PV Mall, Kierland and a quick jump to downtown.

For more information and pictures, click on:

http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/4A919DDF-FB0D-A776-AF3C6FB850C0AEDD.shtml

Sheena Dr - Awesome Rental in McDowell Mountain Ranch for $ 2100!

Fantastic McDowell Mountain Sonoran Fairways Golf Course Subdivision. South back yard with grassy area. Kitchen and family room connected for just the right about space to cook and entertain without being isolated from family and friends. Gas fireplace in family room. Great eat-in kitchen with granite tops and tile floors. Central portion of the home has formal dining and living. Master bedroom is split to the west side of the house with an extraordinary master bath and walk-in closet lined with cedar. Community features two heated pools and spas, lighted tennis courts and lots of recreational trails.

For more information and pictures, click on:

http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/49D0E3B7-AE35-3B4A-3CCE392A8F4DB9C7.shtml

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.

61st Way - Beautiful home is now Back on the Market !!

Original owner has kept this home in beautiful condition. Over sized back yard with large covered patio, self cleaning over sized Paddock play poll and grassy play area. Open floor plan with kitchen over looking family room. Family room offers built in cabinets and gas fireplace Neutral colors tile floors. 4th bed used as huge walk in closet-easy conversion back. Masters offers separate tub & shower plus large walk in closet and access to poll. 3 car garage w/epoxy floors, cabinets and service door. Beautiful home looking for a new family. Exterior repainted in 2007. Great location near Kierland, Promenade, Desert Ridge and 101 access.
For more information and pictures, click on:
http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/B74E9D16-0579-EF57-641630245927D719.shtml

Adams Street - 4 bedrooms & 2.5 baths all for $110,000 !!

Priced to Sell! Located in SouthGlen, this home is the perfect starter home! With 4 bedrooms and 2.5 baths there is plenty of space. Beautiful stone like tile floors enhance the first level. Large over-sized lot has plenty of room for lots of fun! Patio with ramada for BBQ and enjoying the outdoors. Upstairs find the only balcony/deck in the subdivision. 2 car garage for plenty of storage!
For more information and pictures, click on:
http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/06A4C26C-DA01-BC15-EB7D17D2A87412DD.shtml

Redfield Rd - Wow, Beautiful 4 Bedroom w/Great Resort Like Backyard !

This House Has It All And Is Totally Turn Key. Over 1/4 Acre Cul-De-Sac Lot. Inside: Split Master, 3 Bdrm + Den w/ Blt-Ins. Gourmet Kitchen Offers Double Ovens, Granite Counters, Raised Panel Maple Cabinets, Blt-In Micro & R/O Water. Great Kitchen Overlooks Family Room Offering Blt In Ent. System, Gas Fireplace & Surround Sound. Resort Like Yard Offers Both A Grassy Play Area And Fenced Pebble Tech Play Pool & Spa. Yard Enhanced w/ Automatic Awning & Waterfall. Plus Use The Pool All Year With Gas Or Solar Heater. Don't Forget The 3 Car Garage w/ Epoxy Floor & Cabinets. Plantation Shutters, 18' Stone Like Tile, & Classy Closets.
For more information and pictures, click on: http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/25AC3598-C742-B33C-FD882A91ED3E5853.shtml

93rd Way - Fantastic townhome in DC Ranch!

Fantastic townhome in DC Ranch. This property previously sold for $861K. This 3 bedroom 3 bath also offers a loft and deck to enjoy the views. It includes awsome upgrades such as: Granite slab counters, Travertine floors, Travertine surrounds in bath and showers. The gourmet kitchen offers Stainless steel appliances, gas cooking, raised panel maple cabinets, granit slab counters and travertine backsplash. Paver front courtyard offers great views of the McDowell Mountains. ****Proof of funds for cash deal or Buyer must be approved by Aurora 1-877-793-8973 ask for Ann Decell. Special programs and $250 CC credit**** buyer to verify all facts and figures.
For more information and pictures, click on: http://www.thecameronteam.com/Phoenix_Scottsdale_Arizona_McDowell_Mountain_Ranch_Dc_Ranch_listings/F716BC3E-E7AF-6E91-060980CAAAACD53C.shtml