Jim Little, your Sun City Neighborhood REALTOR© I try a "Little" harder

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Sun City was built with a recreation center, (now 7) a golf course, (now 7 + 3 country clubs) and stores all completed by the first day of sales. With the addition of Boswell Hospital,  Sun City became a virtually self-sufficient community, unique then and still unique and desirable today.

The following are 5 of the many reasons people move to Sun City AZ:

Climate. Without a doubt, this is the foremost reason people move to Sun City. The Arizona economy used to be based upon the “4 C’s:” Climate, Cattle, Copper, and Citrus. Of these, only Climate and Cattle remain important. Unfortunately, Cattle is becoming less so. Our climate provides warm, sunny winters with minimal rain, almost no snow (you can visit it in less than 2 hours if you wish).

Cost. Homes in Sun City today, 9/2009, range from a $40,000 1 bedroom condo to $450,000 semi-custom homes on a golf course or a lake. (Yes Virginia, we have lakes) There is a home in Sun City to suit the needs, wants and budget  of almost everyone.

Convenience. Sun City AZ has the benefit of being part of the Phoenix metropolitan area, with fine dining, museums, hospitals, parks, theatre, symphony and universities, and professional sports teams like the Diamondbacks, Cardinals and Coyotes.

Health. This has historically been a major reason why people move here. The climate has long been known to be beneficial to arthritis sufferers. Sun City is home to Banner/Sun Health and Boswell Hospital, leaders in the treatment and research of age-related problems.

Recreation. This is a subject too big to be covered adequately by any one post. I’ll write more on this soon.  For the time being, did you know there are 120+ clubs sponsored by the Sun City Recreation Association? There is something here for anyone. Yes, we have shuffleboard, but also softball, recreational and competitive swimming, bocce and lawn bowling, fine arts and crafts, in short, if you cannot find a club to share your interests, maybe you have no interests.

Jim Little, Your Sun City Neighborhood REALTOR®

Who are they? Aggregators, companies that specialize in capturing your contact information and selling it to agents for a large fee. My learned associate, Teresa Boardman just wrote an article about these companies and her experiences acting as if she were a buyer. It makes fine reading, see it here. She also gives some good tips about how to find an agent without resorting to these companies. Most important is to find out does the agent actually have any experience doing business in the area you are looking to live in, or you have a home for sale in.

Here in the sun city neighborhood, I see for sale signs from companies 50 miles away. That is a LOOOONG WAAY AWAY in a metropolitan area. Do you believe the agent is working the home effectively? Do you think the agent is there after every monsoon storm? Not only do I doubt it, I know most of them do not check vacants in the absence of the owner.

If you are a buyer, will the agent who is not intimately familiar with the neighborhood able to tell you about the jet noise, the railroad noise, the busy streets and traffic patterns? Are these important? You bet.

ALWAYS do your homework and select a local agent with whom you are comfortable. Be sure the agent has the local knowledge you need, and will tell you the bad as well as the good about any property you look at.

Jim Little, Your Sun City REALTOR® [contact-form]

The answer is at once simple and complex. The Phoenix AZ market is currently driven by the lenders selling foreclosed properties. In addition, there are many people who face foreclosure. Currently there are over 40,000 notices of default pending. These  factors depress listing prices.

Buying activity is centered on these foreclosed homes, with the dominant players being investors chasing these homes with CASH. It is very difficult for the traditional buyers to successfully compete in this market.

Sun City is slightly different, in that there are few foreclosed homes and buyer activity has been stable, if lower than normal, for the last few months. The problem here is that the prospective buyers who would like to sell the old family home and move into an adult community cannot sell because they are competing with the REO (foreclosed) sellers.

My analysis of the current conditions lead me to believe that sales prices will stabilize, indeed may have already stabilized, but cannot go up any significant amount for at least 2 more years.

It remains difficult to sell a traditional listing, but not impossible.

Buyers, it is no longer a buyers market, but the conditions remain good for the purchase of a new home, especially for first time buyers. A caution, interest rates are now creeping up, and traditional inventory is gradually being absorbed. The first time buyer credit is scheduled to expire in December, don’t wait too long.

Jim Little, Your Sun City REALTOR®
To search the MLS with NO Registration, click HERE

The lowest priced homes, under $100,000 are selling withind a few days, often with multiple offers.

Bank owned homes, (REO) ar also selling very well. REO new listings have been averaging 4,000 per month. Pending sales in this category are currently 6000. Obviously, even the older, stale inventory is now being absorbed. As a side note, this means if there really is a “shadow inventory” of foreclosures that haven’t been listed yet, the market seems to be standing ready to buy them.

On a more local level, homes for sale in the Sun City neighborhood have decreased in the last couple of months, and sales + pending sales have increased, a sure sign of a recovery in its early stages.

New appraisals are coming in at or above contract prices, and the Market Condition Report appraisers are now required to file no longer defines properties as being in a declining market.

Interest rates, while still at an artificial low, are starting to creep up. If you are thinking about buying a home, do it soon. Historically, when interest rates reach a low, they will rebound to prior levels quickly. This rebound can be very dramatic. Interest affects buyer costs much more than the sales price over the term of a loan. It also limits the home you can buy on any given income. Act soon to take advantage of these very attractive rates.

The government First Time Buyer Tax Credit is working, bringing renters into the market. HUD is now allowing lenders to provide bridge loans so the tax credit can be used toward closing costs. This reduces the out-of-pocket expenses for a home buyer. It is important to note that this is for closing costs, not for down payment purposes as some reported in error.

Another promising piece of news, Friday 6/19/2009, large banks began paying back the TARP loans. It is nice to see this program seems to have worked, but 75% of the money loaned has yet to be repaid.

And last, it is a small step, but GM announced Friday the company would be recalling 900 laid-off workers. Just a drop in the bucket, but the right direction anyway.

I live and work in Sun City AZ, and am honored to know some of the men and women who fought the battles of WWII.

It is my honor to know and serve these people.

Jim Little, Your Sun City REALTOR®

My own observation is in order here. The “shiny pennies” are sold as soon as they hit the market. So are the “steals”. We are now back to the times when we would say to a prospective buyer, “the house you want to think about today was seen yesterday, who thought about it last night, and is writing an offer today.”

Jim Little, Your Sun City Neighborhood REALTOR®

Jim Little | Ken Meade Realty | 623-521-6768 9514 W. Greenway Rd., Sun City, AZ Convenient central Sun City location, Friendly condo group. Your perfect seasonal or year-round home. 2BR/1.5BA Condo offered at $132,500 Year Built 1972 Sq Footage 1,658 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 1 Parking 2 Car garage Lot Size 405 sqft HOA/Maint $145 per month DESCRIPTION Enter this beautiful duplex condo through your saltillo tile paved entry courtyard. This home features a light and bright step saver kitchen with a brakfast nook looking onto the entry courtyard. You will enjoy the formal dining/living area and your additional Arizona room and screened patio. Spacious 2 car garage with storage cabinets, and a good sized utility room also. see additional photos below PROPERTY FEATURES Central A/C Central heat Walk-in closet Tile floor Family room Living room Breakfast nook Dishwasher Refrigerator Stove/Oven Microwave Washer Dryer Laundry area – inside COMMUNITY FEATURES Clubhouse Fitness center Swimming pool(s) Sauna/Spa Tennis court(s) Golf course Lake OTHER SPECIAL FEATURES Screened patio ADDITIONAL PHOTOS Street View Tiled Entry Courtyard Kitchen Breakfast Nook Living Room Greenbelt Contact info: Jim Little Ken Meade Realty 623-521-6768 For sale by agent/broker Equal Opportunity Housing Posted: May 29, 2009, 10:55am PDT

]]> http://jimlittleaz.com/2009/05/29/condo-for-sale/feed/ 0 http://jimlittleaz.com/2009/05/25/thank-you-sfc-gooding/ http://jimlittleaz.com/2009/05/25/thank-you-sfc-gooding/#comments Mon, 25 May 2009 19:13:00 +0000 jim http://jimlittleaz.com/?p=120 It is Memorial Day, a perfect day to remember heros. I grew up amongst heros in San Diego, a Navy town. My father and the neighbors on either side of us, across the street, and up the street were all career men.

When my turn came, I enlisted 12/7/1964 serving until 12/6/1970. I reported to Fort Polk on my 19th birthday. Yes, I’ve had better birthdays.

I really miss my 33″ waist.

Back to my subject, you never forget your Drill Sergeant, Drill Instructor, etc. This frightning but dedicated individual took callous youths and made men and women out of them. They were respected, feared, and yes, sometimes hated by those they trained.

I am sure one thing never happened, they were probably never thanked for the lessons taught.

Today, I would like to correct this. Sgt Gooding, wherever you are, thank you. I have stood on your shoulders for my whole life, I hope I wasn’t too heavy.

Today, I am fortunate. I walk among heros every day. I live and work in Sun City AZ. home of many of the “Greatest Generation” veterans of WWII, Korea, and now Vietnam are my clients and customers. I occasionally get to serve active members who are stationed at Luke Air Force Base.

To all who have, are or will serve, my heartfelt thanks.

Jim Little, Your Sun City Neighborhood REALTOR®