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New Home for Dbacks Spring Training

by Nate Martinez


Salt River Fields at Talking Stick Resort
Spring Training Home of the Arizona Diamondbacks

The new home for the Arizona Diamondbacks will be opening this session for spring training. The Salt River Field at Talking Stick will include an 11,000-seat capacity ballpark, a total of 12 practice fields and office buildings that will include Major and Minor League clubhouses, training facilities and offices for each team. The new field is located near Indian Bend and the Loop 101 Freeway. Tickets for spring training games are now on sale -- let's go Arizona Diamondbacks!

Don't Forget Your Toothbrush!

by Nate Martinez

How many times have you gotten down the road and stopped in a panic because you can't remember if you locked the front door? In the husle of preparing for a trip, it is easy to forget important and not so important items when we pack. Planning ahead helps avoid missed items. So does using a site like Don't Forget Your Toothbrush. It helps you create the perfect packing checklist! You will find common suggested items that you can select or you can create your own personalized list. Don't Forget Your Toothbrush makes it less likely you'll overlook something. And best of all, the list can be printed AND you can get regular e-mail reminders.

RE/MAX Professional Home Hotline

by Nate Martinez

Did you know that RE/MAX Professional’s offers a Home Hotline which is available for the entire local inventory of homes currently for sale? Now you can access property information from any telephone! Voice Pad Curb Call delivers information in high-quality sentence structure in both English and Spanish. By simply entering the street number, or MLS ID, of the home in which you are interested in, you can immediately access details like the number of bedrooms, square footage and current list price. Unlike the wireless web or text messaging, Curb Call works on every phone! Save RE/MAX Professional Home Hotline number in your mobile device now – 602-277-3111.

Weekend Events in the Valley

by Nate Martinez

Wondering what's going on in the Valley this weekend?

Mardi Gras Festival
Get out your beads, masks and costumes for the Second Annual Mardi Gras Festival. The night kicks off with a cocktail reception at 6 p.m. The main event begins at 7:30 p.m. with a traditional Cajun cuisine buffet, costume contest, jazz music and casino activities. Proceeds from the event support the Downtown Chandler Community Foundation, a non-profit organization that provides grants to qualifying, non-profit organizations supporting community needs within the Historic Downtown Chandler area.
Crowne Plaza San Marcos Resort
1 San Marcos Place Chandler, AZ, 85225
PHONE: 480-812-0900
February 19, 2011
http://www.chandlermardigras.com/

Blues Blast 2011
Hosted by the Phoenix Blues Society, this annual festival features local and national blues artists. This year's festival includes performances by Tommy Castro Band, Deanna Bogart, Trampled Under Foot, Krimson Chord and Cold Shott & the Hurricane Horns.
Mesa Amphitheatre
263 N. Center St. Mesa, AZ, 85201
PHONE: 480-644-2560
February 19, 2011
Saturday, 11:00 AM
http://www.bluesblast.info/

"Wheels of Italy" Car Show
Celebrate the beautiful vehicles of Italy at this show, from Alfa Romeo to Zagato. Dozens of Italian cars, motorcycles and bicycles are features, including a rare Ferrari 599 GTO, Lamborghinis, Maseratis, Panteras, Fiats, Lancias and Alfa Romeos. There are also motorcycles, scooters and bicycles by Ducati, Piaggio and Colnago. The new Fiat 500 is featured. The event is open to any Italian car, and the registration price benefits Arizona Camp Sunrise, a Northern Arizona camp for children with cancer and their siblings operated by the American Cancer Society.
Scottsdale 101
7000 E. Mayo Blvd. Phoenix, AZ, 85054
PHONE: 602-953-6412
February 19, 2011
Saturday, 9:00 AM - 1:00 PM
http://www.azwoi.com/

Strong Beer Festival
More than 50 breweries are featured at this beer tasting. Although strong beers are featured, there is a variety of other types and styles available for sampling. VIP ticket holders can enter at noon.
Steele Indian School Park
300 E. Indian School Road Phoenix, AZ, 85012
PHONE: 602-262-6412
February 19, 2011
Saturday, 1:00 PM - 5:00 PM
PRICE: $10 - $40 ($40 VIP in advance or at gate, $30 advance, $10 designated driver)
www.azbrewguild.com

Play Ball: The Cactus League Experience With Howard Bryant
ESPN magazine writer Howard Bryant signs "The Last Hero: A Life of Henry Aaron." Bryant's book chronicles the social changes that occurred during Aaron's baseball-playing years. Hosted by Changing Hands Bookstore. Books can be purchased at the signing.
Arizona Historical Society Museum at Papago Park
1300 N. College Ave. Tempe, AZ, 85281
PHONE: 480-929-0292
February 19, 2011
Saturday, 12:00 PM
PRICE: $29.95 book purchase, free admission
www.arizonahistoricalsociety.org

Southwest Legends Gunfighters Perform at the Buffalo Chip Saloon
Get a glimpse of the Wild West with the Southwest Legends Gunfighters performing fistfights, gunfights and action routines in two exhibition shows. They are the top headlining theatrical-stunt-performance team in the nation.
Buffalo Chip Saloon and Steakhouse
6811 E. Cave Creek Road Cave Creek, AZ, 85331
PHONE: 480-488-9118
February 19, 2011
Saturday, 7:00 PM
buffalochipsaloon.com/

Twilight Camp
Families with children 5 and older can visit the zoo after hours. Activities include a guided trail hike, a private train tour, animal encounters and a late-night snack. Participants receive a souvenir. Children younger than 18 must be accompanied by an adult.
Phoenix Zoo
455 N. Galvin Parkway Phoenix, AZ, 85008
PHONE: 602-914-4333
February 19, 2011
Saturday, 6:15 PM - 10:00 PM
PRICE: $35 - $40 ($40, $35 zoo members)
www.phoenixzoo.org

Find out if you may be eligible

by Nate Martinez

The Making Home Affordable (MHA) Program is a critical part of the Obama Administration's broad strategy to help homeowners avoid foreclosure, stabilize the country's housing market, and improve the nation's economy.

Homeowners can lower their monthly mortgage payments and get into more stable loans at today's low rates. And for those homeowners for whom homeownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure. Additionally, in an effort to be responsive to the needs of today's homeowners, there are also options for unemployed homeowners and homeowners who owe more than their homes are worth.

Use the self-assessment tools provided online to see if you may be able to benefit from Making Home Affordable.

Click Here to explosure your eligibility now.

Ask for help before its too late

by Nate Martinez

The current U.S. housing market and national financial crisis has caused untold stress and heartache for many American families. Foreclosure is one of the most devastating financial challenges that a family can face and one that many times can be avoided. A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. But it is a complicated process that takes the expertise of experienced professionals. As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available. Please call our office today to learn more. Don’t wait, ask for help before it’s too late.


www.AZshortsaleResource.com

REALTY STUDIES from ASU W.P. Carey School of Business

by Nate Martinez

REALTY STUDIES from ASU W.P. Carey School of Business
January 2011 RESALE HOME MARKET

With the advent of a new year, there is always the hope that the troubled times will end. In the last few months of 2010, foreclosures represented only 30 percent of the recordings due to various moratoriums and legal issues. Unfortunately, the resale data for January 2011 shows a reemergence of the trouble times with 43 percent (3,620 transactions) of the 8,325 total recorded sales being foreclosures.

The main question for the coming months is whether the January surge in foreclosure activity is a temporary response in unclogging the pipeline after the moratoriums and or a continuation of a market being dominated by foreclosures. The year ended in the midst of an unusual set of influences including foreclosure moratoriums, legal challenges to the foreclosure process, weak economic and job (income) recovery and stricter underwriting guidelines. In confronting potential uncertainty, the level of activity and prices could even be lower than generally expected as people await the review and resolution of the problems associated with the foreclosure process.

Foreclosure activity, as percentage of the total resale market in January 2011, varied throughout the Valley such as 52 percent in El Mirage, 42 percent in Surprise, 46 percent in Maryvale, 38 percent in Chandler and 29 percent in Scottsdale. Another component of the market was the sale of previously foreclosed property, which accounted for approximately 40 percent of the traditional transactions in January (4,705 sales). Due to concerns about the foreclosure process, foreclosure–related activity represented 66 percent of the recorded activity for the month, but 63 percent in 2010.

Beyond the impact of foreclosure activity, the absence of a strong move-up market, which is fundamental to a housing recovery, will also limit any growth in home prices. While lower prices can greatly improve affordability, they can adversely impact many owners and potential sellers whom are watching their limited equity erode, as prices decline to and even below existing debt level. The median price for the traditional market in January was $125,000, which is the same as December 2010, but down from last year’s $136,500. The foreclosed properties in January had a median price of $143,580 in contrast to $141,700 for December and $152,935,000 for a year ago.

Housing prices are being influenced by foreclosure-related activity. Even with all of the foreclosure issues, expensive homes continued to be foreclosed, with 12 being over $1 million in January. Another influence is that, for the last year, approximately 40 percent of the traditional sales were foreclosed homes that were sold again with a median price markdown of 14 percent from the foreclosed price. Although the markdown has improved from 25 percent a year ago, it does vary throughout the Valley ranging from 44 percent in Maryvale to 14 percent in Peoria to 8 percent in the Gilbert area.

Since the Greater Phoenix area is so large, the median price can range significantly. For January 2011 in North Scottsdale, the median price for a foreclosed property was $365,250 ($374,775 in December) while the traditional market was $421,000 ($401,000 in December). In South Scottsdale the splits were $148,500 ($159,000 in December) and $163,500 ($166,500 in December), respectively.

In Maryvale, traditional transactions were $46,000 ($43,000 in December) and foreclosures were $76,005 ($61,500 in December), while in Union Hills it was $156,600 ($156,500 in December) and $170,500 ($179,870 in December), respectively. For January 2011, Paradise Valley had a median square footage of 4,750 and a median price of $1,237,500.

Within the 1,320 total recorded sales for January 2011, the townhouse/condominium market had 520 foreclosed properties. For a year ago, there were 1,150 total transactions with 495 being foreclosures. In January 2011, the median price for foreclosed properties was $99,460 while the traditional market stood at $76,000. Last year, the splits were $105,920 and $95,000, respectively.

The median square footage for a single-family home recorded as foreclosed in January 2011 was 1,680 square feet (1,685 for a year ago), while it was 1,805 square feet (1,785 for a year ago) for a market transaction home. In the townhouse/condominium sector, the median square footage for a foreclosed unit was 1,050 square feet (1,040 for a year ago), while the traditional market units was 1,145 square feet (1,135 for a year ago).

Happy Valentine's Day

by Nate Martinez

 

The history behind the “Day for Lovers” is surrounded by romance and tragedy and hundreds of years later, across the world, we still honor the man who started it all, St. Valentine.

Claudius II was emperor of the Roman Empire, he believed that married men were more emotionally attached to their wives and families and thus did not make good soldiers. He believed that marriage made men weak so he issued an edict forbidding marriage.

The ban on marriage was a great shock for the Romans, however, they knew better than to protest against the mighty emperor. But the bishop St. Valentine thought differently. He saw the trauma of young lovers who gave up all hopes of being united in marriage. So St. Valentine planned to counter the monarch’s orders in secrecy. When the word spread that the bishop was still performing marriages, young lovers would seek him out so they could be joined in the sacrament of matrimony, despite the emperor’s decree.

But such things cannot remain hidden for long. It was only a matter of time before Claudius came to know of this "friend of lovers," and had Valentine arrested. While he was imprisoned, Valentine befriended the jailor’s blind daughter. As per the legend, it is said that the two fell deeply in love. His love for her, and his great faith, managed to miraculously heal her from her blindness before his death. Just before his execution, Valentine asked for a pen and paper from his jailor, and signed a farewell message to her "From Your Valentine," a phrase that has lived ever after. It is believed that the bishop Valentine was executed on February 14th 270 AD.

May the spirit of St. Valentine be with you and your loved ones this Valentine’s Day!

Real Estate is about Jobs

by Nate Martinez

Real Estate is about Jobs
written by Ron Phipps, President, National Association of REALTORS

Later this week, the Treasury Department will issue a report recommending changes to the structure of Fannie Mae and Freddie Mac. This is the latest development in a years-long debate over what the government’s role in housing should be.

As REALTORS®, we know better than anyone else just how vital housing is to families and to our nation.

Fact:  For every additional 1,000 home sales, about 500 jobs are added to the economy. Those are real jobs that give our families, friends and neighbors a chance to work.

Fact:  Every home purchase pumps $60,000 into the economy.

Fact:  Housing accounts for more than 15 percent of the national gross domestic product.

Fact:  Home owners pay 80 to 90 percent of ALL federal income taxes.

We need to change the dialog. Critics say housing is a drain on federal resources. We know better. Housing is the engine that drives our national economy. Eight of the last ten recessions have ended as a result of robust housing markets. The other two ended as a result of war spending. The choice is easy. America needs a healthy housing market to thrive. 

In the days ahead, NAR will be reaching out to Congress and the White House to emphasize the clear connection between housing, jobs and the economy. Rather than limit support for housing, and the availability of credit, NAR is calling on Congress and the White House to advance policies that will move the housing market back to a healthy 5.5 million sales, where it SHOULD be. 

We will be asking lawmakers to:

  • Preserve the mortgage interest deduction at current levels.
  • Move the credit pendulum to equilibrium, defined by a median credit score of 720.
  • Maintain government backing in the mortgage market as part of GSE Reform.

These three steps would help bring the housing market back to a normal level, possibly generating an additional 1 million home sales and 500,000 jobs.   

As the voice for real estate, we hope that Congress and White House gets the message:  real estate is all about jobs.

I invite all of you to engage with us.  Go to Realtor.org/homeownership for the latest information and to see how you can join the movement. — Ron Phipps, 2011 NAR President

Need Stats?

by Nate Martinez

Need Phoenix market stats? Click on the links provided below to review an indept market review of the West valley, Southeast, Northeast and Short Sale residential resale market. If you or anyone you know is considering making a real estate purchase, now is the time. Please call our office today to get started right away!

January 2011
West Valley Residential Single Family
Southeast Valley Residential Single Family
Great Phoenix Distressed Property Report (Short Sales)
Phoenix Valley Residential Resale
Northeast Valley Residential Single Family

For a Free Market Snapshot customized for your home, Click Here

Displaying blog entries 1-10 of 12

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Nate Martinez
RE/MAX Professionals
20241 North 67th Avenue, Suite A1
Glendale AZ 85308
623-643-1010
602-430-5226
Fax: 602-532-7352

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