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Mesa--tempe---scottsdale--az-real-estate-market
By Ben-Hirsh
The Mesa, Tempe, and Scottsdale real estate market has been slowing over the past few months. Historically, resale housing activity has been pretty good during this time of year. However, sales this year have been slightly lower than they have in previous years. This demonstrates that the resale market is growing weaker. In fact, this year is the weakest that the Mesa, Tempe, and Scottsdale real estate market has experienced in six years.
Experts did not expect that the level of activity in the Mesa, Tempe, and Scottsdale real estate market would match that of previous years. They did not predict, however, that the market would decline as much as it has.
Last year, there was a rapid increase in the average home price in the Mesa, Tempe, and Scottsdale real estate market. Even though the home price has flattened this year the market continues to suffer from the dramatic increase in price.
The Mesa, Tempe, and Scottsdale real estate market has seen a decrease in the number of first-time buyers. Additionally, there has been an increase in the move-up markets – people purchasing larger houses than those they currently own. These conditions combined contribute to the slowing housing market. Stable or increasing median prices
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are likely to be seen during this period of time. A vast majority of homes purchase in the Mesa, Tempe, and Scottsdale area fall between the $200,000 to $299,999 range. Increasing mortgage rates also contribute to the weakening market conditions. This makes houses less affordable than they have been in the past. Rates are up by 1.0% causing the mortgage rates on a median priced home to increase from $1,180 to $1,405. Investors and home sellers are seeing that buyers are reluctant to purchase homes because of the rapid price growth in the area along with the increase in mortgage rates. Another factor that contributes to this reluctance is the uncertainty about future appreciation of homes. If homes do not appreciate, yet prices continue to rise, homeowning becomes undesirable. It becomes increasingly difficult for homeowners to maintain their homes under these conditions. Home sellers find that homes remain on the market for a longer period of time, sometimes without offers. Current investors in Mesa, Tempe, and Scottsdale real estate should sell properties as quickly as possible to cut their losses. It may be possible to make a small amount of profit from the sale, but the priority at this point should not be making a profit. Instead, it should be to sell the property quickly without incurring any additional costs. Waiting around for market conditions to improve will only cost more in the long run as buyers take control of the market. Home sellers should price their homes competitively but not so high as to turn away potential buyers. To make sure that Mesa, Tempe, and Scottsdale real estate is priced properly, sellers should pay close attention to similar homes that have recently sold in the area. Prospective investors should stay away from Mesa, Tempe, and Scottsdale real estate. There are no financial gains to be seen in the foreseeable future. Ben Hirsh is an expert on Woodstock GA real estate and has an excellent website all about Woodstock real estate which features a Woodstock GA MLS search, the Woodstock GA history page, and much more. Article Source: http://activeauthors.com Ben Hirsh is an expert on www.realestateinwoodstock.com/ "> Woodstock GA real estate and has an excellent website all about Woodstock real estate which features a Woodstock GA MLS search, the Woodstock GA history page, and much more.
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<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif><STRONG>Wi-Fi around Chicago..</STRONG></FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif><FONT size=2>The Daley Center between Clark and Dearborn is now (as of September 2003) a wi-fi hot zone. I have not personally connected there, but the word is </FONT><FONT size=2>that the signal around Daley Plaza and Block 37 is strong. Click <A href="http://www.xchicago.com/main/article.php?articleID=413">here</A> for more information. </FONT></FONT></P>
<P><FONT size=2>If you are outside of downtown Chicago,the UPS stores (formerly Mailbox Etc.) will have wi-fi access (for a fee) in mid-September as will many McDonalds (for a fee). <A href="http://www.computerworld.com/mobiletopics/mobile/story/0,10801,80914,00.html">UPS story</A></FONT></P>
<P><FONT size=2></FONT> </P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif><STRONG>Truth about Annuities</STRONG></FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>Many clients buy annuities. I think it is fair to say that most clients do not understand the annuities and, in many cases, the annuity purchase was an inappropriate choice. In my opininion annuities are appropriate when:</FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>1. The client wants to save more for retirement and already puts the maximum in his or her IRA/401k; </FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>2. The client is in a high tax bracket and wants to reduce taxes;</FONT></P>
<P><FONT face=Verdana size=2>3. The client won't need the principal for quite a long time and the annuity makes up a small portion of the client's total investments.</FONT></P>
<P><FONT face=Verdana size=2>I have one client who paid no income tax, was 85 years old, had been retired for 20 years and purchased 4 annuities with all of her liquid assets; her only other assets, after the mass annuity purchases, were her condo and a checking account. The annuities were "unsuitable" for her, but were perfect for the annuity salesperson who netted at least $20,000 in commissions.</FONT></P>
<P><FONT face=Verdana><FONT size=2> See the </FONT><A href="http://www.annuitytruth.org/"><FONT size=2>annuity truth</FONT></A><FONT size=2> web site for some interesting reading on annuities and whether one is right for you </FONT></FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2><STRONG>What to Do if Your Mortgage Lender Bails Out on You</STRONG></FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>Recently, as interest reates rose and the number of files on their desks exploded to record levels, mortgage companies have bailed out on clients and failed to close. In two cases I am involved in (both of which are new construction) the mortgage companies literally "forgot" about the client. The loans were not ready to close because no one paid attention to the file for months. The other problem is that many lenders are so busy that they can't close by the end of the "lock-in" period. The client is left with a lame promise that the mortgage company will do a "free refinance" later to cure the problem.</FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>How can you prevent this? Pick a reputable lender in the first instance; not one from the internet or your brother-in-law who thought he would try out mortgage brokerage. Stay in touch with the lender. If all else fails, file a complaint with the office of banks and real estate. Here is the form to file the complaint:</FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2> </FONT><A href="http://www.bre.state.il.us/CONSUMER/FORMS/c-Form41.pdf"><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2><a href="http://www.bre.state.il.us/CONSUMER/FORMS/c-Form41.pdf">http://www.bre.state.il.us/CONSUMER/FORMS/c-Form41.pdf</a></FONT></A><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2> </FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2>It rarely pays to file a lawsuit against the lender. Attorneys fees are cost prohibitive and your damages are hard to prove.</FONT></P>
<P><FONT face=Verdana,Geneva,Arial,Helvetica,Sans-Serif size=2> </FONT></P>
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Estate planning, a process invented by Charles Ives, is the process of accumulating and disposing of an estate to maximize the goals of the estate owner. ...
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