Rob Gibbs, CRS, GRI - Finding Homes, Building Relationships

Saturday Morning Coffee! Issue: 30 Vol: 2

Good morning...

I want to start this morning by recognizing the accomplishments of all our Olympic Athletes, but in particular Michael Phelps.  If you haven't heard already, Michael won the 100M Butterfly by 0.01s which was his 7th Gold Medal of this Olympics.  This ties the record by Mark Spitz set in the 1972 Olympics held in Munich, West Germany.  In case you were wondering how we were doing, the Beijing Olympics 2008 page is actually doing a great job with the progress of the games.  This page is the US Medal Summary.

Okay, so now for a quick Light Rail update...There are 8 planned park and ride opportunities for people.  Thanks to RailLife.com for this info:

1. Montebello and 19th Avenue (794 spaces)
2. 19th Avenue and Camelback (410 spaces)
3. Central Avenue and Camelback (135 spaces)
4. 38th Street and Washington (189 spaces)
5. Dorsey Lane / Apache Blvd (190 spaces)
6. McClintock Drive / Apache Blvd (300 spaces)
7. Loop 101 Freeway / Apache Blvd (693 spaces)
8. Sycamore / Main Street (802 spaces) 

Incidentally, the also have a really great map of the Light Rail and all of its stops as well.

In slightly less local news, we've heard a lot about the falling dollar over the past 8-9 months.  But it seems that the Dollar has been on an up-tick of late.  For the past month the dollar has regained significant ground in the world currency market.  It appears that this has been driven by a declines in oil and other commodity prices.  I don't know if you've also noticed that the price of regular gasoline is down to somewhere in the neighborhood of $3.70 a gallon (please don't mistake me for saying "gas is cheap" - it is still pretty expensive compared to just 18 months ago!)  At least where I live that's about a $0.55 drop in about 30-45 days.  For me that translates into about $8-$9 a fill up (I've got a Toyota Tacoma that consistently gets about 18mpg.)  Hopefully this reduction in commodity prices will allow people in many countries to begin focusing on investment and growth again.

And now, let's do the numbers...

Number of homes on the market - 52,782
Number of homes Sold in Aug - 1,965
Average days on market of the homes sold in Aug - 117
List to sales price of homes sold in Aug - 98.1%
Number of homes under contract - 8,420
Number of homes expired, canceled or taken off market in Aug - 4,183
New listings in Aug - 5,300 (last week's number was inaccurate)
Number of Foreclosure or Pre-foreclosure homes - 13,438
Percent of total = 25.5%

Finally, I want to leave you with this.  It is totally off topic, but it was just to darn funny to pass up.  Those of you with children will understand.

Oh, and I'll be in San Diego next weekend competing in the Mission Bay One Design Regatta so there won't be a coffee next week...see you next time!

Your REALTOR (R)
Rob

Saturday Morning Coffee! Issue: 29 Vol: 2

Good morning!

Good news nationally for the housing market.  NAR is reporting that nationally in June the Pending Home Sales number is up 5.3%  What does that mean...more people have gotten off the fence and started buying homes.  This number indicates the number of homes under contract, something I follow every week as well.  Now, realistically, not all of those homes will close, but it is a good indicator of market activity.

One of the things that may have driven that activity is the fear that the government is going to "sunset" some of the first time homebuyer down payment assistance programs (known as Ameridream and Nehemiah) on 1 October 2008.  That may have prompted many to get off the fence and buy before these programs expire.  I believe that these programs should stay in place, especially given the state of the housing market.  I would ask that help by doing what I did - click this link http://capwiz.com/nehemia/issues/alert/?alertid=11598811 and take 60 seconds to send out an email that will go to HUD, Congress and our Local Senate Representative. I believe your efforts will help change our Congress's opinion about the value of these programs in a market that is under stress.

On the bright side, Congress did pass a first time homebuyer tax credit in the Housing Stimulus Package.  I mentioned it last week, but the details were still being sifted out.  NAR has put a really good explanation of the First Time Homebuyer Tax Credit together at their website.  And, in addition to that tax credit, the Wall Street Journal Online is reporting that Pulte Homes will "match a new $7,500 tax credit for first-time home buyers with its own $7,500 discount on homes."

So, if you know someone, especially a first time homebuyer, that needs a REALTOR that understands this changing market, I'm never too busy for your referrals.

And now, let's do the numbers...

Number of homes on the market - 52,730
Number of homes Sold in Aug - 1,134
Average days on market of the homes sold in Aug - 116
List to sales price of homes sold in Aug - 99.6%
Number of homes under contract - 7,861
Number of homes expired, canceled or taken off market in Aug - 2,786
New listings in Aug - 10,634
Number of Foreclosure or Pre-foreclosure homes - 13,209
Percent of total = 25.0%

Have a GREAT week!
Your REALTOR (R)
Rob   

The BEST Gelato!

I don't normally do food reviews, but last weekend we had the BEST gelato I've ever had...PERIOD.  This little place right by the fountain in Fountain Hills called La Scala Creamery.  Kim (my wife) had pink lemonade that was very refreshing.  Hailey had the strawberry that tasted more like a real strawberry than a real strawberry!  I had the tierra missou flavor and it was intense!  I can't wait to go back and it would be well worth the gas just to go watch the fountain and have some gelato.  There were some live/work condos in that same complex, so if you know a small business owner that wants to move to Fountain Hills, I'm never too busy for your referrals!

Your REALTOR (R)
Rob

Saturday Morning Coffee! Issue: 28 Vol: 2

Good morning!

Well, after two weeks of really heavy reading, I've pulled together some lighter material for this week's SMC!  First off, I'm very pleased to announce that J.D.Power and Associates has ranked Keller Williams NUMBER ONE in customer satisfaction among homebuyers!

Overall satisfaction is determined by examining three factors for the home-buying experience: agent (65%); office (21%); and services (13%)....Keller Williams achieves a score of 831 on a 1,000-point scale, and receives highest ratings from customers in all three factors.

So if you know anyone looking to buy a home, I'm never too busy for your referral!  And now J.D. Power and Associates has confirmed what you already knew.

I couldn't go without at least mentioning the Housing Stimulus Bill signed into law this week.  While the provisions are many, Dr. Lawrence Yun, NAR's Chief Economist, has focused on one bright spot in particular for first time homebuyers.  There is a tax credit that can be earned.  "Up to $7,500 will be given to first-time purchasers as they file their income tax returns."  There is a time limit to this credit of July 2nd 2009.  For details on all of the provisions, check out this article in the USA Today.

Light Rail is still moving forward for its December completion date.  Testing in Mesa has gone on this week.  Thanks to Nick Bastian and www.RailLife.com for this video that was obviously taken when the Mesa Police Department was responding to an emergency.  Otherwise he might have been pulled over.

One last note, this week the Arizona Regional Multiple Listing Service (ARMLS) who contracts with vendors to provide the MLS to REALTORs here in the valley changed over to a new vendor.  With 35,000 REALTOR users this was no small task and there are still some glitches being worked out.  If you were previously receiving listings from me and they have now suddenly have stopped, please email me directly and let me know.  I'll get you up and running again in our new system.

And now, let's do the numbers...

Number of homes on the market - 52,689
Number of homes Sold in July - 4,693 (first down month in the last 7)
Average days on market of the homes sold in July - 101 (calculation shift, don't compare with previous)
List to sales price of homes sold in July - 96%
Number of homes under contract - 9,118
Number of homes expired, canceled or taken off market in July - 8,291
New listings in July - 10,634
Number of Foreclosure or Pre-foreclosure homes - 12,908
Percent of total = 24.4%

Have a GREAT week!
Your REALTOR (R)
Rob 

How to check your bank for FDIC Insurance

Hi everyone,

We've talked over the past few weeks about FDIC insurance.  I thought I would pass along some additional information about how to check if your financial institution is FDIC Insured.

You can check by calling the FDIC at 1-877-275-3342 or search under "bank find" at www.fdic.gov/deposit/index.html

You can also look for the FDIC Logo on your banks website and branch locations.

Hope this helps you sleep!

Your REALTOR(R)
Rob

Remodel your Bathroom Series Videos

Last one in this series!

How To Paint A Ceiling -- powered by ExpertVillage.com