ON E OF A R I ZON A’ S N AT U R A L R E S O U R C E S
S e p t e m be r 2 0 1 0
Nate Martinez Team Is it a good time to buy?
I hope this newsletter finds you well and enjoying the end of another blistering hot summer in the Valley of the Sun! Is it a good time to buy despite the uncertain economic times? I would like you to decide after you read this article. I want to share some simple facts about the market in Arizona – the true reality that you won’t see on the six o’clock news. We may have thought the interest rates were fantastic “back in the day” or during the upward boom of our market, however, I am here to report, the current rates are blowing away those numbers – even in our recessed economic times. Right now, rates are hovering between 4.125 and 4.50 for fixed rates and as low as 2.875 for conventional ARM type loans. For a $100,000 purchase, this interest rate will put your monthly payment far below what you could find in a decent rental in Phoenix today. I know some of you are thinking you missed boat on the best time to buy because you didn’t purchase while the $8,000 tax credit was available – well consider the fact you may have had to pay more money for the same
house you can buy today, because you are not competing with every other buyer who was trying to secure a deal before April 30th. I am not discounting the benefit of the tax credit, however, my point is that there is life after and there are still phenomenal deals to be had in our market. Let me give you a real-life example of what I mean by “phenomenal” – I had an REO listing in Avondale, built in 1998 which sold the end of July for $89,000. This was a clean, 3 bedrooms, 2 baths, 1600 s/f home – in move in ready condition. In 2007 this home fetched a whopping $218,900 sales price. The shocking part of these numbers is the fact that brand new, in 1998 this home sold for $104,406. The pricing today, in 2010 is below what this home sold for new 12 years ago! Why would you want to wait any longer to take advantage of these prices? Wouldn’t you agree, if you made purchase like this example, the market can only go up from here? Arizona Regional Multiple Listing Service came out with a report for home sales in the month of July. The
report showed the total number of home sales and what type of financing was used for each transaction. Out of 5,227 total sales, there were 1,850 reported to have been all cash transactions – that is more than 35% in cash transactions. This tells me, there are still people out there with money who are willing to invest it in our economy. Consider this: if you kept $100,000 in the bank earning the average 1% per year interest you would yield approximately $1,000 after one-year of interest – or if you break it down to the ridiculous, that is only $83.00 per month return on investment. Now, let’s go a step further with this analogue. The average 3 bedroom, 2 bath single family home in Phoenix rents for approximately $1,000 per month. If you were to purchase a $100,000 house and rent it for $1,000 per month, less any property management fees you potentially earn anywhere from $9,000 to $12,000 on that same $100,000. Potentially, you could net $850.00 per month in rent on a property you own free and clear
– that is 10 times more return that keeping your money in the bank! This simple calculation does not include the tax benefits you stand to gain and the possible future appreciation you will earn in equity over the time you own the property. Basic math tells me, this is not only a great time to buy – it is the time to buy. But I want to hear what you think. Tell me how you would answer the million dollar question – is it a good time to buy? I want to hear your feedback and comments regarding the market we are currently in. Please email me at Nate@NatesHomes.com and we will post the results on our blog next month. If you or someone you know is sitting on the fence trying to decide whether or not to buy or invest, please call us now to learn more. Do not wait. There are hundreds of opportunities out there today which will not be around forever. We look forward to hearing from you soon!
NATE & TEAM.
7 1 1 1 W B e l l R d S u i t e 1 0 1 . G l e nd a l e , A Z 8 5 3 0 8 O: 602.942.7000 | TF: 800.284.1158
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Estaban Lamas Manuel Callas Karen Stark Phillip Haller Coleton Franklin Bill Boswell Max Berg Shawn McCain Sean Scaturro Karen Howard Alex Samaniego Ceasar De Moss Karen Ashfield Richard Finney Douglas Rich Murray Smith Janice Braslins Elana Barberio Edwin Fine Agripina Paluch John Lacagnina Dale Darnaby Ellen Johnson
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Glenda Benson Gloria Santa Cruz Carsan Burden Jim Gragg Cody Melton 9/8 Joanne Hunold Lynda Winterstein Michael Burrola Rochelle Scott Dariah Ferretti 9/9 Luella Rogers Robert Chapman Randy Smith 9/10 David Jones Raymond Beck Ashley Smith Alyssa Haberly Robin Rios Larry Almon II Benjamin Dass 9/11 Barry Bechtold Tom Reardon Ian Winterstein Kelly Hartle
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Bruce Roth Sabrina Gomez Christopher Ferretti EK Lacagnina Hunter Franklin Donna Stewart Roger Lesperance Anna Kuttner Hal Dekeyser Vivan Reyes Everett Bensley Joel Patterson Audrey Sorenson Michael Copeland Rhonda Sullivan Michael Choukalas Mercury Tanaka Jacob Bavin Christabel Madrigal Linda Grace Matthew Rios Fred Delgado Sylvia Sanchez Isaac Schorr
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Calli Wieters Joshua Aranda Debbie Voltz Sean Barrett Jacob Santa Cruz Sam Brick Suzanna Dekeyser Doug Shippy Ben Seyk James Topolosek Adolfo Yniguez Nicole Constantino VirNon Elkins Sabrina Alexander Diane Heller Catherine Coady Drew Lindquist Doug Elefant Ashley Thomen Tyler Campbell Malgy Blue Scott Beer Kaylee McDonald Gerald Mallory
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Jerald Moreland John McKinnon Jacosa Boyle Deborah Jones Monty Low Beth McHugh Susan Sorenson Russ Belle Andy Navarro Zac Fox Nick Cerqua Toni Bailey Alyas Orozco Sebastian Sanchez David Raskin Shelly Hickman Jim Kuttner Toni McKinnon Eric Schwab Alexis Ravenstein Elaine Holloran Melvin McNeely Jodi Crowder Terry Ringe
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Paula Yeck Walt Braslins Lisa Howland Shirley Ver Velde Kevin Varricchio Donna Cusey Giles Wilson Sarah Turner Nevin Bliss Mandi Klimpel Michael Swichtenberg Natalie Javid Mike Shepard Acey Reagan Wilma James Bruce May Ryan Richter Yolanda Bizarro Gary Cannon Jasmine O’Neal Vincent Lomero Jesse Leija Hal Haberly Tom Traw
HappyAnniversary 9/2
When your motgage payments become overwhelming, foreclosure is NOT your only option. Now, there’s a new program offering eligible homeowners $3,000 for a successful short sale. The government’s Home Affordable Foreclosure Alternatives Program, or HAFA, incentivizes some short sales for homeowners and lenders who qualify, and shortens the process time. We’ve made a free report that explains the details of this program, and its requirements and benefits. You can download the report here:
Mr. & Mrs. Brewster Mr. & Mrs. Walsh 9/3 Mr. & Mrs. Chapman 9/6 Mr. & Mrs. Low 9/7 Mr. & Mrs. Cartan Mr. & Mrs. Gragg Mr. & Mrs. Schemers 9/8 Mr. & Mrs. Melton 9/9 Mr. & Mrs. Woods 9/11 Mr. & Mrs. Garner
9/15 9/17 9/20 9/24 9/25 9/26 9/27 9/30
Mr. & Mrs. Hansen Mr. & Mrs. Rhoads Mr. & Mrs. Bennett Mr. & Mrs. Barre Mr. & Mrs. Spitzzeri Mr. & Mrs. NcNeely Mr. & Mrs. Bower Mr. & Mrs. Gould Mr. & Mrs. Lardy Mr. & Mrs. Rogers
www.AZShortSaleResource.com The biggest impact of this government-backed alternatives is that you have better alternatives to foreclosure. Please contract us. As CDPE - designated agents, we can show you all of your options and get your started on a path to resolution immediately. We’re here to help.
©2009 Distressed Property Institute, LLC All Rights Reserved. The above brokerage assumes no responsibility nor guarantees the accuracy of this information and is not engaged in the practice of law nor gives legal advice. It is strongly recommended that you seek appropiate professional counsel regarding your rights as a homeowner.
We l Referrals!
The Nate Martinez Team would like ot take the opportunity to thank the following people for the wonderful referrals they have sent out way.
For a market snapshot of your home, visit NatesHomes.com Dave Ramsey, Dave Ramsey Show Joe Beeler, REMAX Alliance Accent Team Realtors
If you, or anyone you know, are planning to buy or sell a home, call us and see why these people refer others to us!
602-942-7000 | www.NatesHomes.com | www.NatesLuxuryHomes.com
Please call us TODAY to view one of these Price-to-Sell Properties! Visit NatesHomes.com HOMES FOR SALE:
City
3810 N Maryvale Pkwy 1531 W Colter St #4 5615 N 39th Ave 4569 N 17th Ave 141 E Las Flores Ave 9831 E Boradway Rd 4632 N 53rd Dr 4925 W Indianola Ave 4545 N 67th Ave #1108 8711 W Flower St 14203 N 19th Ave #2046 6912 N 49th Ave 1341 W Diamond St 4935 W Hubbell St 7702 S 349th Ave 3049 W Sweetwater Ave 911 E Cmlbck Rd #2038 7226 W Wolf St 2018 N 48th Ln 1701 E Colter St #103 1417 N 44th St 37930 W Raymond St 4721 W Solano Dr 2802 W Morten Ave 25169 W Cranston Pl 3434 W Mntn View Rd 8241 W Yucca St 6834 E 4th St #19 4808 W Villa Maria Dr 12518 W Willow Ave 2250 S 63rd Dr 2315 W Charleston Ave 30235 W Lynwood St 12821 W Via Camille 9820 N Central Ave #133 724 S 223rd Ln 12647 W Seneca Dr 17410 W Libson Ln 4029 N 89th Ln 2024 S Baldwin St #22 22226 W Dsrt Bloom St 16043 W Washington St 23982 W Huntington Dr 8449 S 48th St #2 16230 W Superior Ave 15005 W Hnysckle Ln 74 N 224th Ave 24013 W Hidalgo Ave 6027 N Milano Ct 22859 W Lone Star Dr 1350 S Grnfld Rd #1177 8537 W Las Plmrts Dr 13177 W Ironwood St
Phoenix Phoenix Phoenix Phoenix Goodyear Mesa Phoenix Phoenix Phoenix Phoenix Phoenix Glendale Phoenix Phoenix Tonopah Phoenix Phoenix Phoenix Phoenix Phoenix Phoenix Tonopah Glendale Phoenix Buckeye Phoenix Peoria Scottsdale Glendale El Mirage Phoenix Phoenix Buckeye El Mirage Phoenix Buckeye SCWest Surprise Phoenix Mesa Buckeye Goodyear Buckeye Phoenix Goodyear Surprise Buckeye Buckeye Litchfield Park Buckeye Mesa Peoria Surprise
Bed Bath 1 2 3 3 3 3 4 3 3 3 2 3 2 4 3 4 1 3 3 2 3 4 4 4 3 3 2 2 2 3 3 3 3 3 2 3 2 3 4 2 4 3 4 2 4 3 4 4 3 4 2 4 4
1 2 2 1.5 1 2 2 2 2 2 2 1.5 1 2 2 2 1 1.75 2 2 1.5 2 2 2 2 1.75 2 1 1.75 2 2 2 2 2 2 2 1.75 2.5 2 2 3 2 2.5 1 2 2 3 2.5 2 3 2.5 2.5 2.75
Pool NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO
Price $21,200 $31,900 $34,900 $35,000 $37,100 $37,900 $39,900 $39,900 $41,900 $43,900 $44,000 $44,900 $45,900 $48,000 $49,900 $49,975 $50,000 $53,000 $54,000 $54,900 $55,900 $58,500 $59,900 $59,975 $62,000 $64,900 $65,000 $65,000 $60,000 $67,900 $67,900 $69,900 $74,900 $74,900 $74,900 $79,900 $79,900 $79,900 $80,000 $84,800 $85,000 $91,300 $94,900 $97,900 $99,975 $101,900 $102,900 $104,250 $104,900 $105,000 $109,900 $109,900 $112,900
4741 W Beverly Ln 15252 W Polk St 14420 W Ely Dr 28803 N 221st Ave 9515 W Miami St 14231 N 103rd Ave 12875 W Rosewood Dr 12610 W Whitton Ave 3731 W Dailey St 3120 W Julie Dr 8634 W Lockland Ct 15111 W Custer Ln 13437 N 151st Dr 29429 N 155th Ave 2862 E Megan St 3649 E Thndrhrt Trl 51226 N 298th Ave 23670 W La Vista Cir 16747 W McKnly St 12219 W Electra Ln 6029 W Pontiac Dr 12425 W Virginia Ave 3513 N 81st St 49528 N 11th Ave 310 S 4th St #805 310 S 4th St #2205 7849 W Kristal Way 2550 E Balsam Ct 15478 W Mnnzna Ave 13601 W Vermont Ave 14916 W Mark Ln 5285 W Mohawk Ln 7547 W Trails Dr 7553 W Trails Dr 7541 W Trails Dr 7572 W Trails Dr 24158 N 73rd Ln
City Glendale Goodyear Surprise Wittman Tolleson Sun City El Mirage Avondale Phoenix Phoenix Peoria Surprise Surprise Surprise Gilbert Gilbert Wickenburg Buckeye Goodyear Sun City Glendale Avondale Scottsdale New River Phoenix Phoenix Glendale Chandler Goodyear Litchfield Park Surprise Glendale Glendale Glendale Glendale Glendale Peoria
Bed
Bath
Pool
Price
3 4 3 4 4 2 4 3 4 4 3 4 4 3 4 4 3 4 4 5 3 3 3 4 2 2 4 4 5 5 3 4 3 3 4 4 4
1.75 2 2 2 2.5 1.75 2.5 2.5 2 2 2 2 3 2 3 2 2 3 2 3 2 2 2 2 2.5 3 2 3 3 3.5 2.5 2.5 3.5 2.5 3.5 4.5 5.5
NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO NO YES YES YES YES YES
$114,900 $114,900 $114,900 $114,900 $115,900 $117,500 $118,500 $124,900 $124,900 $125,000 $129,900 $129,900 $134,900 $139,900 $140,000 $140,000 $141,900 $142,000 $142,500 $160,000 $165,000 $167,500 $174,500 $209,900 $220,000 $220,000 $249,900 $257,500 $299,990 $350,000 $375,000 $425,000 $495,000 $525,000 $535,000 $750,000 $2,000,000
LAND PROPERTIES:
51805A N Mkngbrd Trl 51805B N Mkngbrd Trl 51805C N Mkngbrd Trl 3845 S Blk Mtn Rd #18 16017 W Cheryl Ct #65 9491 W El Cortez Pl #4 9413 W El Cortez Pl #1 9429 W El Cortez Pl #2 31003 N 118 Ln #9 25613 N 115 Ave #42 21056 N 76th Ave #77 21273 W Sage Hill Ct
City Wickenburg Wickenburg Wickenburg Wickenburg Waddell Peoria Peoria Peoria Peoria Peoria Glendale Buckeye
Lot Size 73,842 72,851 74,302 229,444 37,629 52,005 51,952 51,965 32,670 255,697 20,330 296,208
Price $21,900 $21,900 $21,900 $26,900 $45,000 $89,900 $99,000 $99,000 $125,000 $154,900 $200,000 $599,000
For every home we sell, a donation will be made to the Children’s Miracle Newtwork on behalf of, and in the name of, the Buyer or Seller!
7111 W Bell Rd Suite 101. Glendale, AZ 85308 P: 602-942-7000 E: Nate@nateshomes.com www.NatesHome.com www.NatesLuxuryHomes.com Each office independently owned and operated
Open here to learn the answer to the
million dollar que$tion!
Tax Credits Still Available! For eco-conscious homeowners purchasing energy-efficient appliances or making other green upgrades can mean a tax credit up to $1,500. For more information, be sure to visit: www.irs.gov or consult a tax professional.
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