Real Estate in Scottsdale and Northeast Phoenix Metro
If Scottsdale real estate, or property in the metropolitan northeast Phoenix regions of Paradise Valley, Carefree, Cave Creek, Desert Hills or Fountain Hills is what you're looking for, you came to the REALTOR® who's been specializing there for many years! Through Coldwell Banker Scottsdale I've been selling homes for people, helping buyers purchase houses, and helping many find land and lots. Both residential and commercial, I've put many buyers and sellers together. Investment properties and commercial buildings are all the rage in the booming areas along the Loop 101 and Scottsdale Road, and Kierland commercial properties are sizzling near the Scottsdale Airpark and north of the Loop 101.
In today's dynamic Scottsdale real estate market, selecting the best real estate agent to handle your transaction is critical. Experience can make all the difference in the world. Avoiding common pitfalls is easy, but avoiding the difficult ones is why I believe I can do a superior job in helping you. Whether you're planning on buying, selling, or you just have a question, please feel free to call me, Tim Greenfield at (480) 444-8546.
Some of the north Phoenix metro area neighborhoods I specialize in include Kierland, Sundown Manor, McDowell Shadow Estates, Desert Ridge, Aviano, One Scottsdale, Grayhawk, DC Ranch, Silverleaf, McDowell Mountain Ranch, Paradise Ridge, Troon (Troon North and Troon Village), Estancia, and Desert Highlands. Many of these offer great well known Golf course homes and lots.
If you have read my recent articles you know I think the market has found or is close to the bottom of this real estate bust cycle. Actually I think the bottom was in April however time will tell. The good news is the market has stabilized over the past 6-7 months and is expected to improve over the balance of 2008 and into 2009.
The bad news is the NAR (National Association of Realtors) says the annualized National rate of sales is the lowest of the past ten years.
The economy has created over 4.2 million new jobs the last few years. When things start taking off the demand of houses purchased to job growth historically runs at 1 per 2. Therefore the job growth will historically cause 2.1 million houses to be purchased.
We are seeing increased activity and sales in the low end of the pricing spectrum. That is good because the first time Buyer’s are back, and the lower priced houses have the largest pool of available Buyer’s. That will trickle up through the housing market.
There are also foreign investors to consider, however that volume should be too small to drive the overall market.
How November election will affect the Arizona real estate market remains to be seen. Should Senator John McCain win the presidency which looks unlikely at this point, I expect more gridlock similar to the last two years with a Republican Administration and a Democrat Congress. From a housing market perspective things likely will not change much as the slow sustainable recovery continues.
Should Senator Barack Obama win the presidency we should look for a big move to the left by the Federal Government both the Administration and Congress. Probably not much would change for a year or so, however over time we should expect higher interest rates as Federal spending increases beyond the current stratospheric levels.
I have read a number of articles about an Obama presidency returning the country and economy to one similar to what we had 30 years ago with President Jimmy Carter. Hopefully that will not happen because interest rates will skyrocket into the high teens or more.
That type of market and government spending could and likely will create a huge inflationary boom. Should that occur you want to be invested in the real estate market in a big way. Home prices in Scottsdale went up 50% in 18 months between 1977 & 1979. Sounds like 2004 & 2005 doesn’t it!
This last boom was created by easy money, a soft dollar, as well as ridiculously lax underwriting guidelines in the banking community. Not to mention the securitization by Wall Street of huge pools of mortgages, and sold worldwide. That maybe proves to be the best smoke and mirror financial packing the world has ever seen. That is what we are paying for in the current bust cycle of the last 3-3.5 years.
In that type of market you want to be a Seller not a Buyer because an inflationary boom if history is correct will no doubt be followed by a recession or worse.
