Vancouver Real Estate Market Is Going Down

Click here for the article from Canadian Real Estate Association on how the Vancouver Real Estate market has finally reached its peak and now has no where to go but DOWN!

http://www.theprovince.com/business/fp/Housing+have+peaked/2911893/story.html

Over 50% of Phoenix's Homes are Currently Owned By Investors

Read this very interesting article in Arizona Republic to learn how over 50% of homes in Phoenix are currently held by investors, and how 40% of the homes for sale are owned by owners underwater...

anadians in Phoenix

Arizona Realtors song may be ‘O Canada!’

By Ben Ruoti, Special to The Sun (edited by Tanya Chu)



During the first quarter of 2010, Americans invaded Canada to join in the 2010 Olympic Games. Few noticed, but at the same time Canada was invading Arizona, to buy real estate!

Canadians represented 5 percent of all real estate sold in Maricopa County and 13 percent of all condos. That is even more than the number of Californians buying property here. And best of all, 80 percent of the Canadians paid cash. These figures can be verified through MLS and Tom Ruff of the Cromford Report.



The first quarter brought good things to Arizona.

Maricopa County seems to have turned the corner on foreclosures with fewer coming on the market, and the good deals are absorbed quickly. Many are going for more than the list price. A lot of buyers are investors, and of course there are folks taking advantage of the federal tax incentives. To take advantage of those credits, buyers must have their purchase under contract by April 30. In addition to investors, California buyers are coming here to take advantage of good deals and all that Arizona has to offer.

So what can we expect in the second quarter? My crystal ball is a little foggy but until the temperature hits 100 degrees, you may see Realtors walking around whistling “O Canada, O Canada”!

Only 29% of Home Sales in the US are in Distress

This report came as a bit of surprise to me. I thought that at least 50% of the properties down south are selling because they're bank owned or in foreclosure. That, apparently, is not the case.

According to this “Distressed Home Sellers Report” released by First American CoreLogic just this month, only 29% of home sales are distressed properties.

What this tells me is that there're lots of room for negotiations DIRECTLY with home owners - a much easier negotiation process than with the banks!