Phoenix AZ Urban

Yes and no.  Actually, it’s really hard to say.  April sales of existing homes soared more then expected and that has brought a lot of new home to many cities around the country, Phoenix being one of them.  Now we need to see if the tax credit created a false increase in sales.

I know my phone has continued to ring and by many people who think we are either at the bottom or hovering near it.  Remember, you never know if we’ve hit bottom until we start to come out of it so timing the exact bottom is more than an art, it’s pure magic.

CCN.com had a full story about it today.

I continue to believe that with interest rates at record lows and the Feds keeping that way, we have some reasons to be optimistic that prices aren’t going much lower.  I think prices can and probably will dip a bit more but not the double digit percentages we’ve seen  over the past couple of years.

Downtown Phoenix continues to see low prices and many buyers.  The light rail is now a year and a half old and more and more people are using it all the time.  Many of my buyers are wanting to live within walking distance to the Light Rail so they can get out of their cars.

The Biltmore is another area that has many reasons to remain optimistic and popular.  With the Central Valley location and just minutes from Downtown Phoenix, Downtown Scottsdale and Downtown Tempe, it’s a great location if you like to get around to all the great Urban areas of the Valley.  Not to mention, it’s easy access to the 51 freeway get’s you around the valley much easier than many areas.

Check out all the great properties on RooPho Realty’s website and see why more and more people are moving to Urban Phoenix.

One Lexington in Phoenix is not really a new building but it might as well be.  It use to be Century Plaza office building but they stripped it down to the solid steel beams and turned it into a first class high rise condominium building.  It’s an amazing building with high end Bosch stainless appliances, CaesarStone countertops and breakfast bars.   The design was inspired by lofts with exposed high ceilings and concrete pillars.  Ceiling heights are 11’10″ and doors are oversized 8′ fflat-panel doors with solid-core main entry door.  Eco-friendly, durable bamboo flooring in the living, dining and kitchen areas.  Spacious walk-in closets in the master bedrooms.  They also have a large fully outfitted fitness center, resort inspired outdoor pool   with furnished lounge area, fire pit and hot tub.  A large lounge area for resident’s to use for larger functions and superior soundproofing with double-layered drywall and insulated staggered studs.  This building can’t be beat at todays new prices starting at $154,700 and penthouses starting at $457,000.  RooPho Realty is on top of the facts when it comes to Downtown Phoenix and Urban Living.

With interest rates still at record lows and homes values down as much as 50% in some areas, there’s not time like now to buy a new home.  Even with the Federal Tax credit gone, you still can’t beat the timing.  Homes throughout Phoenix and Downtown Phoenix have seen huge price reductions.  CNN.com has a great story about it.

What do we expect now that the federal tax credit is over?  CNN.com had a great article explaining why we’re not really sure.  There are many things that contribute to the economy and since we’ve never been in this type of economy before it’s really hard to say.  I agree we will bounce around the bottom of the market for a while so any purchase you make today you should plan on keeping the property for at least 5 years.

With that in mind, RooPho Realty really watches not just the market but also many of communities.  While the market recovers you’ll still see some communities recover better than others.

Should you sell now?  I believe values will probably go down this year but only a percent or two but values are not going up dramatically, so really, if you want to sell or you need to sell because of a job move or what have you, you might as well.  Values aren’t going up or down any time soon so if your property is worth $200k today it will probably be worth about the same next year.

I have stayed on top of what is happening in the market and especially in the Phoenix Metro market and Urban market.  RooPho Realty doubled our sales in 2009 from 2008 and we are very proud of that, especially in this market.  We have processes and procedures in place that will always allow us to make you feel like you’re our only client.  It’s our job to represent you with knowledge and professionalism and our goal to be there when you need us.

Here’s your change to live in a Mid-Century Modern building with all the comforts for today’s luxury living high rise.  Executive Towers 14C is on the market and priced below market to sell.  The Seller are not distressed they just got a new job out of state and need to get going.

Mid Century Modern meets Contemporary Luxury – Not your ordinary surface level remodel.  This unit was featured in AZ Foothills magazine after being gutted and completely restructured, rewired and replumbed by well known local architect Kristine Woolsey to respect Al Beadle’s original design and still meet the needs of today’s urbanites.  The sophisticated floor plan and high-end fixtures and finishes create a stunning entertaining and living experience.  The onyx and teak custom island and bar offers a Viking Induction and Radiant cooktop and is topped by a dramatic Italian hood.  The master bedroom and bath have been redesigned to have a terrazzo shower walls that riff on the lobby’s terrazzo floors and a rock sink with Porcher faucet that ties in the pebble stone shower floor featuring a killer Hans Grohe shower experience.  Light, airly office/den with great view fades away when the sun goes down.  Porcelain tile is extended onto the awesome balconies facing North and West.  Move in ready – just bring your cocktail shaker. Great building with 24/7 lobby security staff, solid HOA (with no special assessments allowed) and light rail nearby.  Job transfer means owners must leave their SkyPad behind after spending more than $130K and 6 months on the remodel.  Their pain – your gain.