John Hall & Associates - Phoenix Real Estate Brokerage

It’s an ongoing joke between Jim and I, “Did you see the paper?” he’ll ask, knowing quite well I’m not a newspaper kind of guy.  I’m an internet reader - that has recently added watching the morning news to my routine.  So I usually respond with something like, “I’m not old enough to read the paper” or “not lately”.  Then he continues with extremely important news that I probably should have read about, but that’s what I rely on him for, like he relies on me to bring him technology news. 

However, this weekend I was looking for the paper, because the Arizona Republic regularly gives Jim the opportunity to write an article for their Broker’s Corner spot of the real estate section.  Sure enough, in Saturdays’ northeast valley run there was Jim’s smiling picture (no it wasn’t his high school photo!) next to the informational article on auctions here in Phoenix.

The Republic doesn’t publish the Broker’s Corner article on the internet, so for all you out there that missed it, or aren’t newspaper kind of people either, here you go.

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The Arizona Republic has the answer!  Did you see the ARMLS advertorials in the paper this weekend?

Saturday’s Business section had the first article with quotes from John Hall real estate agents; Abe Schwarz, Dru Bloomfield, and Russell Shaw.  Bob Bemis (CEO of ARMLS) was also quoted talking about the median and average price drops.  

The article on Sunday, with the same title, again had quotes from our own; Russell Shaw and Jim Sexton.  Bob Bemis was again quoted, but this time talking about the currently low interest rates.  Darrell Blomberg (Owner/Broker of AzTech Realty) and Gary Swallows (Designated Broker for Swallows & Associates Realty) were also quoted explaining why it might cost more if you wait to buy and how FHA loans are making a come back!  

Thanks to the Republic and ARMLS for the good press!

Two sighting of him in the Arizona Republic on Saturday.  The first one was planned, the second one not so much. 

He is often asked to write an article for the Republic’s “Broker Corner”.  He is given a date the article will appear and puts together a timely piece where he gets to spread the word of the current market.  This weekend his article, “Missed Opportunity” was featured in this weekly real estate feature.

Then an unplanned quote in an article by the Republic’s real estate reporter Catherine Reagor.  Mr. Sexton and Ms. Reagor spoke on the phone about a month ago and Jim was initially quoted in an article that soon followed.  Then Ms. Reagor unbeknownst to us stored some of Jim’s good stuff and surprised us with it this weekend.  (I can’t find the article online yet, but will update this post when it happens.)  Jim was quoted talking about the high amount of vacant or foreclosed properties that are selling.  Even though the conversation took place a month ago, the quote is still accurate today.

Thanks to the Republic for the support!

Had I posted this a in March I could of said HOT off the press, but it has cooled off a little.  However, I am still getting requests from our associates for this coveted visual.  So here it is the AZ Republic Home Values by Zip Code chart from March 16.  

Be careful it’s warm…

Did you see the article?  It was on the frontpage Tuesday morning.  Catherine Reagor quoted Mr. Jim Sexton. 

“We are still bumping along the bottom, but the Valley’s housing market is starting to gain some traction,” said Jim Sexton, president of Phoenix-based real-estate firm John Hall & Associates. “Sellers are getting more motivated. Prices are coming down, and there’s a lot of activity from first-time home buyers again.”

Here’s his latest - expected to be published this Saturday…

5 Great Reasons To Buy Now

It is finally spring in Arizona, great weather, spring training and the desire to get out and enjoy the scenery.  Maybe even get out and see a few homes, discover for yourself what is available.  There are actually some compelling reasons that make this a great time to not only look but to buy now.  So the top 5 reasons, David Letterman style are:

#5)     Reduced competition for those sweet deals -  With so many potential buyers holding off, you have a much smaller number of people competing with you for the available properties.

#4)     Record Inventory  -  There is a lot on the market right now and no one likes lots of choices better than the American consumer.  Huge inventory + less competition = sweet deals!

#3)     Low Interest Rates  -  Strangely enough large drops in the prime rate have had the opposite effect on mortgage rates.  Right now they are historically low however that can’t last forever and with some of the new restrictions for lenders, they can’t help but rise.  Additionally when activity resumes they will rapidly escalate to higher levels.  Huge inventory + less competition + low mortgage interest rates = sweet deals!

#2)     You can Negotiate  -  Buyers want to wait and wonder if the market has hit “bottom”.  “Bottom” is a relative term; you only know its bottom when the market quickly rebounds with a vengeance.  Even if you should pay a little more than you think you might at a later date, normal appreciation would make the difference irrelevant within a short period of time.  Huge inventory + less competition + low mortgage interest rates + sellers willing to negotiate = sweet deals!

#1)     You won’t get first degree burns from your steering wheel!   It is beautiful outside right now and will be for a couple more months.  If you are new to Arizona, you need to know it gets HOT.  If you have lived here through a summer, you already know that.  Either way, this is the peak home buying season. 

Huge Inventory + Less Competition + Low Mortgage Interest Rates + Sellers willing to negotiate + Fabulous Weather = Sweet Deals!

Look for Mr. Jim Sexton in the Arizona Republic this weekend.   He will be highlighted in the real estate sections’ Broker’s Corner.  Just in case you’re not a newspaper kind of person, here’s the article. 

The Big Game 

When you say “Big Game” in Arizona you can’t help but think of the football game in Glendale, even if you’re not a football fan.  Arizona also hosts other big games like the FBR Open and the Barrett/Jackson car auction; there is literally something for everyone.  Even those who aren’t sports fans can’t help but appreciate the fabulous weather, stunning scenery and warm hospitality.  But, the REAL “Big Game” in Arizona is real estate.  I hope that the “white noise” of a negative national press in the financial sector doesn’t obscure the positive aspects of what is happening in Arizona.  Local real estate gurus in their 2008 forecasts give us high marks in comparison with the rest of the country predicting a population growth of +2.7%, employment at +2%, personal income +5.5% and retail sales at +1.5%.   This is when the knowledgeable players get in the game, to take advantage of interest rates at historic lows and the abundance of housing choices.  Even the rise in foreclosures gives real estate a boost whether you are a buyer occupant or an investor.  When you consider the fact that according to the National Association of REALTORS®, the value of homes nearly doubles every ten years, this would be the perfect time to get off the bench and start playing.

With all the bad news from the economic sector of our economy, you may have missed some of this; Forbes magazine ranks us 3rd in its “Best US Cities for Jobs” list, Business 2.0 magazine rates us a top destination city for relocations and one of America’s hottest job markets.   And, CNN ranked the Phoenix/Tucson area as one of the top 10 “megapolitans” in the U.S.  

You have to ask yourself, how bad is the economy when a 30 second commercial during the Super Bowl costs approximately $2.3 million?  Don’t wait to buy real estate, buy real estate and wait.  Whether you are a Patriots or Giants fan, its time to get off the sidelines and get into the REAL game in Arizona - real estate.

Norman Rockwell, the iconic American painter, had it right!  He created literally hundred of paintings picturing the essence of American life, most about our homes.  Somewhere along the way we began thinking of “homes” as just “houses” - another commodity to be “flipped”, collateralized, and bartered like stocks and bonds.  We hear the din about our “national housing market” and assume that includes our local market.  The Valley of the Sun has profound “pocket markets”.  Taking averages or median prices leads us to such fallacies as comparing price per square foot between divergent areas irrelevant to each other like Paradise Valley and Queen Creek.  That’s like dressing for national weather; it means little or nothing locally, we’ve been drowned in meaningless statistics.  But, the realities of our local housing market remain, if house prices are down by 8% in the past 12 months according to the Case-Shiller index, but up by a net 80.2% between 2002 and 2007, it left homeowners with most of their paper gains intact.  Furthermore, houses have some obvious and unique benefits:  sheltered capital gains, liberal income tax deductions for interest and property taxes and leveraged appreciation. A REALTOR® can do the research necessary for you to make an informed decision based on your housing needs and long term investment potential. Although houses are still an important financial asset, the predominate reason for American’s “home-hunger” is in danger of being lost.  We need to get back to considering the most basic of human desires, shelter for our families. We can’t afford to underestimate the joy of owning a home, the sound and warmth of a crackling fire on a cold winter night, the fragrance of dinner cooking in the kitchen, the gathering of family and friends at the holidays.  A home is more than just a house, it is the place where memories are made and cherished for a lifetime.  Norman Rockwell had it right; the American Dream is still homeownership.

http://www.azcentral.com/class/marketplace/homevaluesspring07/articles/1010vhv1014-ON.html

http://www.azcentral.com/arizonarepublic/news/articles/1031vacant-homes1031.html

In two places - although it’s the same article

http://www.fox11az.com/news/topstories/stories/kmsb-20071031-apjc-housesempty.1c4a611c2.html