Learn More about Arizona Real Estate

Highlights of Arizona and regional housing markets

• Arizona is among the Top 10 states with the highest foreclosure rates.

• Sales volume is down 27.8% throughout the state of Arizona.  Compare this to a 10.8% decline in sales volume in the USA.

• Scottsdale, Arizona:

Sales volume down 22.7% from one year ago but prices are up.  

Median-priced home in Scottsdale is $630,000.

Scottsdale is one of the most affluent cities in Arizona and the upper end of the housing market is holding steady and keeping overall home prices up. According to Mike Glover of Prudential Arizona Properties, "The luxury-home market has faired a little better than the rest of the market over the last year or so."

Some sellers on Scottsdale's north side with homes priced over $1 million have had to cut their asking prices by several hundred thousand dollars, but most are still selling in less than 40 days, according to real estate agent Karina Magana with Help-U-Sell Desert Vista Properties.  

This is happening despite a record glut of 45,175 single-family homes for sale in this community.  When sales peaked in Scottsdale in March 2005, there were only about 2,900 homes on the market.  Wow!

• Phoenix's East Valley in Pinal County: Q2 2007 sales volume and median price of existing homes are down.

There are large inventories of both new and existing homes with more than 50,000 existing homes currently for sale in the Valley, according to analyst RL Brown of the Phoenix Housing Market Letter.  New home sale are down with only 2,988 homes sold in June 2007 compared with 4,348 during the same month last year.

Home sellers are competing against investors and builders, who are trying to get rid of their inventory.  Builders are getting cancellations, which adds to the housing inventory.  They can afford to cut prices by tens of thousands of dollars, while homeowners can't, said real estate agent Jason hall with RE/MAX Achievers in Chandler.

I can't hammer it home enough, you've got to . . .

Get Your Money Out of Bubbleville and Invest in Real Estate in Bargaintown

Sioux Falls SD has the characteristics of Bargainville USA including a diversified economy, a steady rise in real estate values and affordable home prices. You'll make the most money if you buy correctly and target the Bargainvilles across the country.

Here's my four-part recipe for successful real estate investing:

•  Buy discount real estate property - foreclosures, pre-foreclosures, tax sales, real estate auctions, real estate repos and other distressed-seller opportunities.

•  Consider commercial real estate investments - apartment buildings, retail centers, storage unit facilities, office buildings.  I have provided you with an awesome commercial loan resource at my website to buy these properties with as little as 10% down (even 5% down on certain property types).

•  Buy in Bargainville - the next hot emerging real estate markets across the country. 

•  Get a mentor.  Learn from real estate investing experts who have already done this successfully.  There are a number of them featured in the Real Estate Investing Guide Section of my website.

Sources:  http://www.usatoday.com/money/economy/housing/closetohome/2007-07-23-close-scottsdale_N.htm,
http://www.eastvalleytribune.com/story/94067 and http://www.heraldtribune.com/article/20070731/REALESTATE/707310488

Tags: real estate, apache junction, finance, maricopa, casa grande, money, queen creek, scottsdale, arizona, real estate

Learn More about South Dakota

Sioux Falls South Dakota Housing Market Gets a Thumbs Up!

Sioux Falls South Dakota is enjoying steady rising home prices in a strong real estate market.

Yes, while many real estate bubble markets are suffering from deeply declining sales prices and a flood of foreclosures, there are Bargainville markets around the country where housing prices are affordable and real estate values are increasing - and Sioux Falls is a great example.  So if you are a real estate investor and your local market is a Bubbleville, be open to investing out of your area.

Here's the Scoop on Sioux Falls Real Estate and Economy

• Housing prices are rising 3% to 4% a year, according to the CEO of the Realtor Association of the Sioux Empire, Barton Hacker.
• The average home is selling in 88 days, down from 109 days last year.
• Sales volume is up 5.0% from last year.
• Median-price for an existing single-family home is $145,000.  Up 1.1% from a year ago.  That will buy you a nice 1,700 sf to 2,000 sf home with 3 to 4 bedrooms and 2 to 3 bathrooms.
• The state of South Dakota median home price is $144,100.  Up 4.4%.  Compare that to the national median price of $230,300.  Up a meager 0.1%.
• Homes priced from $450,000 to $1 million are selling well.
• Mid-priced homes from $200,000 to $350,000 are moving slower.
• Sioux Falls is attracting more industries as companies take advantage of South Dakota's absence of a corporate income tax.  The economy has broadened out from the traditional meat-packing and manufacturing industries to include financial companies and hospitals with Stanford Health as the largest employer in Sioux Falls.

Get Your Money Out of Bubbleville and Invest in Real Estate in Bargaintown

Sioux Falls SD has the characteristics of Bargainville USA including a diversified economy, a steady rise in real estate values and affordable home prices. You'll make the most money if you buy correctly and target the Bargainvilles across the country.

Here's my four-part recipe for successful real estate investing:

•  Buy discount real estate property - foreclosures, pre-foreclosures, tax sales, real estate auctions, real estate repos and other distressed-seller opportunities.

•  Consider commercial real estate investments - apartment buildings, retail centers, storage unit facilities, office buildings.  I have provided you with an awesome commercial loan resource at my website to buy these properties with as little as 10% down (even 5% down on certain property types).

•  Buy in Bargainville - the next hot emerging real estate markets across the country. 

•  Get a mentor.  Learn from real estate investing experts who have already done this successfully.  There are a number of them featured in the Real Estate Investing Guide Section of my website.

Source: http://www.usatoday.com/money/economy/housing/closetohome/2007-07-30-sioux-falls-sd_N.htm

Tags: sioux falls, south dakota, sioux falls housing market, real estate, money, real estate, real estate investing, finance