December 01, 2008 - Jim Kuttner — Today I found 87 properties on ARMLS that are priced above $1,000,000 for sale in Peoria and Glendale. Would you like to know how many homes over $1M have sold in last 12 months in Peoria and Glendale? .....The answer is 13 (Peoria had 7 and Glendale had 6). Statistically speaking, the number of homes listed, divided by the yearly sales total tells us that we have an 80 month (6 Years, 8 months) inventory. Ouch! I would like to think that in less time than 6 years, we will be well into another bullish real estate market. But until we turn...

August 13, 2008 - Jim Kuttner — I just read an article that stated that 77% of first time homebuyer have NOT heard of the new legislation that allows for a credit up to $7500 when purchasing a home for the first time (or with a 3 year period of not owning a home). That tells me that it is up to those in professions related closely to Real Estate to spread the word. In essence, the program works like this.... First-Time Home Buyer Tax Credit at a Glance The tax credit is available for first-time home buyers only. (See frequently asked questions below to see the...

April 24, 2008 - Jim Kuttner — Last night I ran a search for a home for a young couple with two children. Mind you, this couple initially only thought about renting as they were concerned about the market continuing its slide. I shared with them my thoughts on the market and I wanted to share with you those thoughts. Technically, we can now look back to when the slide officially began. The Phoenix market began to round off in October of 2005 and started downward around Spring of 2006. So officially, we have been in a declining market for over two years. This being said,...

July 18, 2008 - Jim Kuttner — The market has been bustling with investor activity for much of the past few months. It has been said that you make your money when you buy an investment. Many investors are finding that prices have become so inviting that they are purchasing properties in mass. With that said, I predict that we will look back at this time and see that the real estate bottom in Metro Phoenix has been reached. Does that mean we are on our way back up? No. However, the bottom is a good place to be if your a buyer. We may bounce around for another year is my...