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How the Real Estate Community Benefits from Vacation Home Joint Ownership May 8, 2010

Posted by mkuhbock in AZ Real Estate News, Uncategorized.
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Hello Real Estate Community,
Some of my colleagues in the real estate industry have asked me what value does the Joint Ownership model have for them? Luckily there is an easy answer for that question.

With Joint Ownership, purchasers do what many partners have already been doing for years, they share in the purchase and title of a property. What we do is provide the consulting, templates for usage and ownership agreements protecting the owners from possible pitfalls that could occur.

With a well developed Joint Ownership model a group of buyers can now purchase the property they want, in the area they desire, with a fraction the capital investment, of the monthly expenses and the carrying costs.

Real Estate Joint Ownership makes the purchase of vacation property possible for your clients!

Joint Ownership is an acquisition model that allows the average family or investor the opportunity to participate in purchasing a vacation or investment property.

What is in it for the real estate community?

1. Use Joint Ownership to increase your vacation home referrals
2. Use a Joint Ownership model to increase your Prospects
3. Use a Joint Ownership model to increase your Sales
4. Provide your clients with a tool and service to fulfill their retirement dream
5. Tap into the 90% of the market that cannot afford a vacation home on their own but
have the desire to own one
6. Convert your fence sitting prospects into active clients
7. Provide your clients with the tools and services to fulfill their investment goals, now is
the time to invest in real estate!

AZ Joint Ownership has created the templates, processes and agreements geared for today’s real estate market and most importantly the proper joint ownership agreements up front allow friends and family to stay that way!

Together we can increase your prospect base, sales and referral income.

Check out the introductory video at www.azjointownership.com

and become a friend and fan on Facebook at http://www.facebook.com/azjointownership.

Cheers,

Michael

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Arizona Vacation Home Strategies February 24, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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Arizona Vacation Home Strategies

Learn how to purchase an executive winter home fully furnished for the price of a car!

Vacation home strategies ~ An easy way to invest in undervalued real estate and enjoy it during the cold winters.

Ask us how at

Michael@Kuhbock.com or azjointownership@gmail.com

Why Phoenix?????

  • Nearly perfect year-round weather
  • The greater Phoenix area also offers visitors an array of impressive cultural attractions.
  • 200 + golf courses
  • Recreation, Major league sports – baseball, football, hockey!!!!!
  • Strong Canadian dollar!!
  • US Home Prices Continue to Tumble…
  • Sub-Prime mortgage buying opportunities!!

What is Joint Ownership all about?

Purchasing a vacation home in Arizona ~ Steps To Success

A little about Phoenix ~ Metro Phoenix Overview

A little about Phoenix Real Estate and Joint Ownership Considerations

A little about Golf In Phoenix

2010 looks to be an interesting real estate year for Phoenix January 19, 2010

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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After 19 days into 2010 I have noticed a couple of disturbing trends coming about. Or exciting trends depending on which side of the real estate fence you are on, the buying real estate 🙂 or selling real estate side :(.

Keep in mind that all of the below is unscientific and we will have to wait for the official numbers from the real estate boards to quantify my observations.

Firstly, I am subscribed to a number of automatic new listing and REO feeds that are sent to bme by email daily, I have noticed that the quantity of homes and the number of emails I am receiving daily is growing dramatically. The listing count seems to be increasing at a higher rate than I have ever seen before and the number of bank owned properties or REO’s listings is also growing. Has the dam burst for the lenders and they are now releasing the growing inventory they had shelved in 2009?

We played golf and bumped into a gentleman who knew of a person who’s job was to post foreclosure notices on homes, he stated that this person had a 160 notices backlogged on his desk, is this a sign of a future increase in inventory?

Prices appear to be dropping. I am following a couple of Metro Phoenix areas for activity and a few homes we have had our eye on, and in the last 30 days we have seen asking prices start to drop as inventory increases. These drops in asking prices have been substantial, especially for some higher profile condo complexes. Asking prices for homes in nice, stable, white collar neighborhoods are 40 to 50% off what they sold for in 2005.

Finally the last point in my unscientific analysis of the Metro Phoenix real estate market is that I have noticed a growing percentage of new listing notifications that are not new homes to the market but homes that have come back on the market after the purchaser has backed out or the short sale was not approved by the lending institution.

Is this just a minor blip in the Phoenix real estate market recovery or is it the next wave of downward value readjustment some of the previous articles I posted made mention of?

Before you decide maybe take a look at the next piece of uncomfortable news in the following link:

JANUARY 19, 2010

Souring Mortgages, Weak Market Force FHA to Walk a Tightrope

By NICK TIMIRAOS

David Stevens bought his first home almost 25 years ago, paying just 3% down with a loan backed by the Federal Housing Administration. “I had no money in the bank,” he says. “If it weren’t for the FHA, I wouldn’t have gotten that home.”

Now, as FHA commissioner, Mr. Stevens has to decide how many others to let through that door. Souring FHA-insured mortgages are threatening the agency’s finances. Congress is pressuring him to tighten the easy-money standards that once helped people like him, and he is expected to announce revisions as early as this week……..

It looks like the glass is either half full or half empty depending on which side of the Phoenix real estate fence you are on, hope you are on the right side. 🙂

Cheers,

Michael

2010 Phoenix Real Estate Crystal Ball December 17, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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We all try to predict, guess, prognosticate … what is going to happen in the future. Whether it is the outcome of a game, Tiger’s future in golf and divorce court, the price of gas next week, when the economy is going to recover and of course one of the most popular water cooler discussions is the future of the housing market.

I came across an interesting article today titled ‘Foreclosure backlog estimated at 1.7 million’.

What caught my eye were the following facts from this article and other past articles;

  • 1.7 million homeowners were on the verge of foreclosure in the fall of 2009
  • This is up 1.1 million from the previous year
  • Distressed sale properties will flood the market in the next 12 months (banks have held a high percentage of properties off the market to try to mitigate the value free fall we have been experiencing over the last 3 years and will finally be forced to move these assets off their books)
    .
  • 6.7 million U.S. households with mortgages, or about 13%, are behind on their payments or are in the foreclosure process
    .
  • About 20% of owners of single-family homes with mortgages owe more than the current estimated value of their homes, according to Zillow.com, in the third quarter of 2009 almost 10.7 million households had negative equity in their homes
    .
  • Option ARM Silent Bomb: $189 Billion in outstanding option ARMs with $134 billion recasting in 2 years, 94% of the borrows made the minimum payment

My personal observations include an increase in short sale listings and aggressively price properties in fringe communities. I define fringe communities as great places to live but they are a bitch to commute from. I have seen listings for 2000+ sq ft, 4 & 2 or 4 & 3 with granite & stainless appliances, freshly painted, pebble tech pool, nice community with an historic sales price of $350,000 now listed in the high 100’s, which is only the asking price. If you go into a market that is above $250,000+ then it is more aggressive with houses that have been on the market longer. Jump to the high six figure or million plus and you can write your own ticket as it seems that half of Paradise Valley has a for sale sign on the property…..

Bottom line my crystal ball says now is not the time to sell but a great time to carefully observe the market and look at jumping in sometime in 2010.

Cheers,

Michael

When will the market hit bottom??? November 16, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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The elusive question everyone is asking, ‘When will we hit the bottom of the real estate market?’ has no definitive answer but the tells point to the fact that we are still moving towards the bottom an not there yet.

Here is a decent video with Dan Alpert of Westwood Capital who sides with the real estate bears and puts the bottom in perspective with some economic fundamentals to consider when making our own guess.

Video and article

 

To be a real estate analyst….. November 13, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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To be an analyst it todays market means that you would never be wrong… all you need in your predictions is the word ‘but’.

The market has stabilized but … The market is up over last (choose your date) but … Recovery is just around the corner but …..

We have hit bottom but ….

Bottom line is the Valley housing market has a long way to go before it is in a ‘real’ recovery phase that shows sustainable positive numbers and real upward trends across all classes of homes and all areas of the Valley. We are close to the bottom and will bounce along it now until the economic recovery takes hold. When will that happen? Your guess is as valid and as good as anyone elses as it is a crap shoot now.

House resale values in some market segments still have a way to fall, some analysts are calling for another 24% + drop, some market segments have stabilized and some small pockets in the Valley are even seeing an uptick in value. But … make sure you compare apples to apples, something that is not always done.

We are even seeing the new home construction now compete with resale in the same areas as builders have to keep their businesses afloat and need to move product to do so, deals are to be had if you have the kahoonas to risk investing with a developer that might not be around after you have put up half the money and your dream home is only 1/3 completed. Make sure you work with a stable developer that has a long history in the Valley and a well sold development, there are many out there but caveat emptor.

Foreclosure properties are still a very BIG wild card, how many are sitting on the desks of the lenders not yet processed, how many will be coming on to the market in early 2010 once the economy tightens a little more and the next wave hits, how many investors will be walking away from portfolios of properties that will then go into the foreclosure mill?????

Below is a decent but very vanilla overview on the market, an interesting read at least.

I think my next post might rant about REO properties a little more but until then have a great weekend.

Phoenix Housing Market Showing Signs of Recovery, but Still Has Issues

Published: November 12, 2009 in Knowledge@W.P. Carey

t’s Indian Summer in the Phoenix real estate market: Like a replay of the traditional high sales months, resale activity increased in October — from 9,070 sales in September to 9,955. But although the level of activity appears strong, it’s not necessarily a sign of recovery, as foreclosures continue…….

 

 

AZ Real Estate News Articles November 5, 2009

Posted by mkuhbock in Arizona Vacation Property, AZ Real Estate News.
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The first article reviews some of the signs of a false bottom for the AZ real estate market and the second might be an indication of how the foreclosure supply might see an increase when underwater owners just throw in the towel and walk away. Is the recent Vally real estate good news a dead cat bounce phenomena? Time will tell and 2010 will definitely be interesting.

Unseasonably high home sales in October linked to tax rebate
Arizona Republic – Phoenix,AZ,USA

Phoenix real-estate agent and property manager Melinda Murphy attributed the relatively … Phoenix real-estate analyst Jim Belfiore of Belfiore Real Estate …

UA prof to some homeowners: Consider walking away
AZ Central.com – AZ,USA
She’s the keynote at Lambda Alpha International’s Phoenix real-estate conference on Tuesday. The event starts at 7:30 am at the Sheraton Phoenix Downtown …

More walk away from homes, mortgages
By Stephanie Armour, USA TODAY
When Sharon Sakson was laid off recently from her job as a television writer and producer, she burned through her savings to pay the $2,400 monthly mortgage on her home. But she soon decided it didn’t make sense: Her home was worth thousands less than the mortgage she carried on it.

 

Fannie Mae seeks $15 BLN in US aid after 3Q loss
By Alan Zibel, AP Real Estate Writer

WASHINGTON (AP) — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

The government-controlled company continued….