National Housing Market Statistics Video Report

August 31st, 2010 by Michael Oliver

I think David Blitzer has this current real estate market about right. The interview came out today and is a good video for those trying to get insight into the today’s housing market.

Kitchen Rehab Video

June 19th, 2010 by Michael Oliver

Here is a video with good ideas to get the most out of your kitchen rehab. The kitchen is generally the most expensive room to rehab in a house so hopefully this video will give those wanting to do it a good idea of what to focus on.

Can The Tucson/ National Real Estate Market(s) Handle The End Of The $8,000 Home Buyer Tax Credit?

April 26th, 2010 by Michael Oliver

I was recently featured in a news story on the expiration of the tax credit for channel 4 KVOA. Here is the video-

The big question this week is whether or not the Tucson/ National real estate market(s) will be alright after the $8,000 tax credit expires on Friday. For those that read this blog you already know I am concerned about it, yet I also watch the stats, figures, and trends as close (or closer) then any other Realtor in town and truly think the market can handle the expiration of the tax credit. I expect the market to lag for a couple of months as buyer demand was pulled forward yet I also expect the raw afford-ability of homes as well as an improving economy to be the driver of the real estate market here in Tucson for some time.

What Could Keep The Housing Market From Touching Bottom?

April 10th, 2010 by Michael Oliver

This is a video from Fox Business talking about the issues that could keep the national housing market from touching bottom. The fact that the government is pulling out of the large incentives that last year really helped stabilize housing is a concern. In Tucson it looks like we touched and came off of a bottom in the Tucson real estate market several months ago as prices have stabilized and right now buyer demand is very strong. Sales in Tucson are very strong and foreclosures that are in good shape do not stay on the market for more then a week as buyers clamor to buy one. Just this week a client of mine bid $3,500 OVER full asking price on a immaculate foreclosure home and was still outbid as demand is outstripping supply for this type of home. I do predict the government pulling back on all the programs they installed to help housing will make for a slower market yet it’s 100% healthier then it was 12-18 months ago when prices were falling drastically and buyers remained on the sidelines.

How Large Is Internet Marketing? Specifically Social Media?

August 21st, 2009 by Michael Oliver

Share on Facebook is a video that was sent to me on Facebook and it is very interesting to see just how large and important the social media and internet marketing arena has and is becoming. Internet marketing is something I have as a Realtor taken very seriously and been involved with for the past three (going on four) years. For me as a Realtor representing people and their properties the internet is the best way in my opinion to gain their home the best exposure and for potential buyers to find me to help them with their real estate needs. Few Realtors understand how important this segment of the marketing world is. The average Realtor if he/she advertises at all (few do they rely on MLS to do everything) only advertises in the newspaper, home magazine, and possibly radio or television. The problem with that is the internet gives the buyers the most intimate and most information possible allowing your home to shine in a way none of the other media formats can compete with. So without getting to far away from the topic take the time to watch this video and see just how large the social media world and the internet have become. Once you have seen this I think it would be obvious that when selling a home you NEED a Realtor that knows how to showcase your home online and place it in front of the most viable buyers in the marketplace.

High-End Real Estate Getting Better?

August 14th, 2009 by Michael Oliver

Share on Facebook Here is a video from cnbc.com with Robert Toll, CEO of Toll Brothers, the largest luxury homebuilder in America. Interesting that the high-end markets across the country seem to be snapping back a little. As Toll reports, Toll Brothers as a builder is starting to pull back on the incentives they are offering (as reported here previously). Also worth mentioning is that Toll reports cancellations of contracts is currently at 9% — cancellations meaning those buyers that “order” a home to be built and then cancel before closing escrow. The historical average for Toll Brothers is 7%. At 9% it would seem to me that the luxury market is getting closer to the historical averages as fewer buyers are “stretching” to try to buy more than they can handle. Also, less speculation is occurring than in previous years which is also dropping the cancellation rate.

Pending Home Sales Up For 5th Straight Month!

August 4th, 2009 by Michael Oliver

Share on Facebook As mentioned here the real estate markets are getting better across the nation. In Tucson Arizona this holds true and the evidence for the national statistics also show vast improvements from a year ago. Today it was published that the pending home sale numbers were up in June marking five straight months of improvement and easily beating analyst expectations. Here is a quote from cnbc.com

Pending Home Sales Up 3.2% Nationally In March

May 4th, 2009 by Michael Oliver

Pending home sales for March rose 3.2% as signaled here all (well most) housing indicators are signaling a housing bottom. (or at least a reversal of the previous 3 year downtrend) I think housing “bottom “maybe too early to tell and we need 5-6 more months of sustained increases in sales levels and decreases in inventory. Here is an article from cnbc.com from this morning showing national pending home sales numbers. Pending home sales numbers are a good indicator because they show the front end of the housing sales stats. Homes “pending” for sale before they close so when you see pending home sales numbers up then unit sales will follow.

New Home Sales Better Then Expected

April 27th, 2009 by Michael Oliver

New Home sales came in better then expected as inventories have started to fall. This is good for the overall market as inventories declining puts pressure on buyers to make a buy as fewer options are available. In Tucson I would say the vast majority of new home builders have placed strict controls on when and if they build a home. Builders in Tucson are guarding against starting a home and then having a buyer either not get financing or decide they can find a better deal elsewhere and cancelling to buy something else (mostly foreclosures) leaving them with a spec home (A new home finished with no buyer). At the end of the day by builders watching very closely which homes and how many they start construction on it leaves less “spec homes” on the market (inventory) and strengthens the overall new home market. There is still a ways to go for new homes in Tucson however most builders are down to a rock bottom price and most neighborhoods are selling. Of the past 4-5 new homes I have sold in the past couple months all the new home communities seemed to me to be selling relatively well. In other words I believe the worst is behind the new home builders in Tucson builder’s profit margins are about non-existent currently but at least currently most builders have found a close equilibrium between sales price and buyer demand.

Existing Home Sales Come In Higher Then Expected Could This Be A Bottom?

March 24th, 2009 by Michael Oliver

new-home-re-sized.jpgExisting home sales came in at a higher then expected number across the nation. Existing home sales increased 5.1% in February a lot of this can probably be due to incredibly high affordability in almost all areas and the stimulus plan that brought additional buyers into the market. For the first time in a long while real estate reports are starting to show trends that are not in line with the past 3 year downturn. A couple weeks ago New Home Starts surprised everyone by being up 22% over previous year numbers. Now with Existing Home sales notching the largest sales increase since July 2003, it could mean a baseline bottom is starting (or has begun) to form. Now with only one increase on the books there still needs to be (in my mind) at least 3-6 straight months of sales increases to justify the real estate markets have turned around. For the time being these stats are showing strength in what was thought to be a still weakening housing market. Also keep in mind all real estate is very local sometimes even down to the street you live on. The Tucson Arizona real estate market seems to be making a turn around but whether it has truly hit bottom or not is hard to say. I do see a lot of buyers are in the market right now probably more today then anytime in the past 6 months. Time will tell if this is the bottom of the market or just a slight blimp. Here is the entire report from cnbc.com about existing home sales for those who would like additional info. (along with a video)

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