| |
 |
Dear Friends, 3rd Quarter 2009
I hope this newsletter finds you doing well in this tough economy and the heat of the summer. It appears the recession is starting to let up a little, now we just need the temperature to go down a bit. Resale homes are starting to sell better and new home permits are up. I heard most economists are saying we'll be coming out of the recession by October but don't count on us coming out quickly. Do you believe them? I think this time they are probably close to right so we'll keep our fingers crossed. RooPho Realty's business has been steady through the recession and we'd like to thank our Friends/Clients for all their support. Lucky for us our Clients become Friends and our Friends become Clients.
Thank you!
I don't think home values are going up very fast so the only hurry you might feel is the 1st Time Home Buyers $8000 Federal Tax Credit. See my paragraph titled "First Time Home Buyer's Tax Credit!" below for more information on that.
Short Sales continue to be the most difficult homes to purchase but there are a few Short Sale Realtors that are really getting them done but they still take a very long time so you need patience. We're happy to work with you on them if you want, but the real value continues to be Bank Owned properties . Call me any time and we can discuss what might be best for you.
Foreclosures up in July!
Is that a surprise to anyone that reads my newsletter? I hope not. Not to sound arrogant but I have reported the Fannie Mae and Freddie Mac moratorium on Foreclosures more than I’ve seen it in the Press. Why? Because that lasted from last fall until March 31, 2009 and the Press was boasting that Foreclosures were going down in March. Of course they were going down, there was a MORATORIUM! Now that it’s been lifted, foreclosures are back up in July. It takes about 90 days to foreclose on a property and July 1 st was 90 days. OK, so I’m not a math major or an expert economist, but even I could figure that foreclosures would be up. What does that mean for you if you’re a buyer? There are still plenty of homes to buy coming on the market at Bank Owned prices which continue to be your best buy. Don’t wait until next year, there are many signs we’ll be coming out of the recession and I don’t think property values will go up but they will have to raise interest rates to hold off inflation. Just in case you weren’t aware, the Federal Reserve is in charge of keeping the economy steady. One of the ways they do that is by raising and lowing interest rates. In a recession they lower them and to hold off inflation they raise them. You’ll have to keep a close eye on interest rates to make sure you don’t miss out on the lower rates. Contact me and I’d be happy to work with you and your lender to make sure we get you into a property at the right time.
Remember, we at RooPho Realty appreciate the environment and have put our newsletter in e-mail format. We’d love to switch you over to our e-mail newsletter, so if you’d like, just send me your mailing address so I’m sure to remove you from the hardcopy list to Chris@RooPhoRealty.com and I’ll add you to the e-mail list.
We just received an updated mail list, if you requested to be put on the e-mail list in the past and we accidently put you back on the 1st Class mail list, please let us know, thanks.
Enjoy the rest of your summer and please remember, if you or anyone you know has real estate needs in Phoenix and the Valley of Sun, I'd be more than happy to help with no pressure but plenty of knowledge, professionalism and integrity.
If you're planning on cashing in on the First Time Home Buyers Federal $8000 Tax Credit you better start looking for a home now. You MUST close escrow no later than November 30 th, 2009. Millions of First Time Buyers want to take advantage of the program and that means, Title Companies, Mortgage Companies and even Realtors will be busy trying to get everyone into a property by the end of November. Throw in Thanksgiving the week before and that will create a back log of properties to close. The Tax Credit isn't for those who TRIED to close by November 30th, you have to BE closed on or before November 30th. Also, if you're not already in a contract for a short sale, don't start looking at them now if you want that tax credit. They can take up to 3 months just to get the approval from the bank, that puts you at November 1st and then you're in the middle of trying to close with millions of others by the end of the month with Thanksgiving interrupting everything. There's talk in Congress about extending the date but don't count on it. Check with your accountant to make sure you qualify for the tax credit, then give me a call and let's start looking, there's no time to loose.
Mezzo
Located at 12th Street, just north of Osborn, this is a great community designed by internationally 
acclaimed architect, Will Bruder. Designed with a community garden 
and private courtyards and terraces, these units are really exceptional. They have wall-to-wall windows and exposed brick and smooth drywall. Sharp edges and angles that make them very architecturally different and yet very modern. Each unit has 2 bedrooms, a study, 2.5 baths and 2 car garage. Natural wood or stone flooring, a modern kitchen with high-end stainless appliances and cherry cabinetry. Prices start in the Mid-$200's and with 1500 square feet these are great units in Central Phoenix. Call me to set up a time to see them.
Just in case you're hungry!
These are some of the great and new restaurants you'll find in Downtown and the Central Corridor. A few of our new favorites are Maizie’s near Central Ave and Camelback and Turf on 2nd Street and McKinley.
Restaurant |
Address |
Restaurant |
Address |
Bar Smith |
130 E Washington St |
New York NY Fresh Deli |
1 N 1st St # 105 |
Bistro on 3rd |
100 N 3rd Street |
Pasta Bar |
705 N 1st St |
Breadfruit |
108 E Pierce St |
Portland ’s |
105 W. Portland ST |
Carmine’s Little Italy Pizza & Pasta |
3 S 2nd St |
Postinos |
5144 N. Central Ave |
Cheuvront’s |
1326 N Central Avenue |
Roosevelt Tavern |
816 N. 3th St |
Cibo’s |
603 N. 5th Ave |
Sens |
705 N 1st St |
City Central Coffee |
Phoenix Convention Ctr |
Sonoma Grill |
25 W Van Buren St |
Crust Italian American Fusion |
Phoenix Convention Ctr |
Stoudemires Downtown |
3 S 2nd St, #113 |
District American Kitchen & Wine Bar |
320 N. 3rd St |
Switch Bakery & Bar |
2603 N Central Ave |
Fair Trade Coffee |
1020 N 1st Ave |
Tammie Coe’s |
610 E Roosevelt, #145 |
FEZ |
3815 N Central Ave |
Taylor Place Residential Dining |
120 E Taylor Place |
Fresh Gourmet to Go |
Phoenix Convention Ctr |
That’s a Wrap |
2022 N 7th St |
Hanny’s |
40 N. First St |
The Art of Soup |
2329 N 7th St |
Hero Factory |
114 W Adams St |
The Drip Coffee Lounge |
2325 N 7th St |
La Piccola Cucina |
2241 N. 7th Street |
The Tuck Shop |
2245 N 12th St |
Lisa G’s |
2337 N 7th St |
Tortillas |
Phoenix Convention Ctr |
Local Breeze |
606 N 4th Ave |
Turf |
705 N. 1st St |
Lola’s Tapas |
800 E. Camelback Rd |
Two Hippies Breakfast Joint |
4306 N. 7th Ave |
Lux Coffee Bar |
4404 N Central Ave # 1 |
Urban Cookies |
4711 N. 7th St |
Maizies Café & Bistro |
4750 N Central Ave #B1 |
Urban Wok |
Phoenix Convention Ctr |
Maria’s Mexican Grill |
3 S 2nd St |
Vinery Two Fourteen |
214 W. Roosevelt St. |
Matt’s Big Breakfast |
801 N 1st St |
Zoe’s |
521 W. McDowell Rd |
Moira |
215 E. McKinley St. #102 |
ZPizza |
53 W. Thomas Rd |
Best Regards,
Chris Campbell
610 E. Roosevelt St. #140 , Phoenix, AZ 85004
Office: 602.224.0554
Serving the entire Valley – Located in the Roosevelt Phoenix Arts District
               
|