It’s no secret that the Phoenix real estate market (and countless other local markets) have experienced a slowdown this year. I’m not even going to attempt to link to a story, you’ve all seen plenty of them.

And it’s also no secret that this time of the year is historically one of the slowest times for real estate sales. It’s a seasonal thing. People just aren’t looking for homes this time of year.

Or are they? When I did the ActiveRain “commentathon” a couple of weeks ago, I read numerous AR blogs that mentioned lower inventories, shorter days on market and new found buyers.

Maureen out in Michigan reports that she’s seeing buyers returning to their market.

And we’ve also noted a lot of anecdotal evidence of a shift, turn, adjustment, change–whatever term you’d like to use–in the Phoenix market. Some of what we’ve noted in just the past couple of weeks:

• Contacts from our website have increased significantly. And many are “hot” — meaning they indicate a strong and serious interest in buying within the next 0 - 60 days. (Longer term prospects are also coming forth).
• The phones have been lighting up like…. well, like a Christmas tree. Francy and I have both received numerous calls from prospects over the last two weeks, including on the days before and after Christmas and today, New Year’s Eve. Normally phones are slow on days like this.
• Sign calls on existing listings for both land and residential properties are up.
• Website traffic, blog traffic, and listings feed requests are up significantly.
• We’ve set more people up on a listings gateway this week, historically a very slow week, than in the last three weeks combined.
• Buyer contact is from the full spectrum–young first time buyers to seasoned investors. Upsizers, downsizers, relocations in, relocations out. It’s not just one demographic. Some of the agents in our office have also noticed an uptick in business. And our fabulous office administrator confirms that the office desk phone traffic has picked up, with many more ad calls than we’ve had recently.

We find this anecdotal evidence encouraging. I’m sure the bubbleheads will have a different take (which I’d love to hear–no really.). The fact that other agents across the country are noting the same thing is interesting. While real estate is decidedly local, there are general regional and national trends. Generally speaking, more buyer activity in other markets is a positive indicator of our market.

I’m not saying that the Phoenix market HAS shifted, and there’s certainly not enough hard data to support a market shift (yet). We’ll keep a close eye on it (of course) and report back with more later.

Wishing a happy and prosperous new year to all!

Technorati Tags: Phoenix real estate market

If you're new here, you may want to subscribe to this blog via email or RSS feed. Thanks for visiting!

Two seperate reports came out in the past 24 hours of commercial real estate sales in the Phoenix area.

General Electric’s Arden Realty group announced the acquisition of two buildings totaling 196,501 square feet at the Airport Technology Center. Note that I’m unable to determine the specific price of the Phoenix properties because the reported $107.5 million price includes three commercial buildings in Southern California (Additional info).

Alexander & Baldwin (A&B) plunked down $24.7 million for the 9.4 acre / 138,500 square foot three-story Concorde Commerce Center, located approximately 11 miles from downtown Phoenix, AZ.

There are three major types of real estate; residential, land and commercial. They are different, yet similar in many aspects. People and businesses get involved in the three types of real estate transactions for similar reasons. Large commercial investments like this signify that someone, somewhere believes the Phoenix area is ripe for continued growth. This kind of money is not spent lightly nor without significant research.

Norbert M. Buelsing, an Executive Vice President of A&B said, “A&B is again investing in Arizona as a result of the area’s consistent job growth – which exceeded five percent last year – increasing population, commitment to expanding its transportation infrastructure, and a relatively low cost of living.  Phoenix continues to be an attractive investment market.” 

The factors Mr. Buesling notes for their decision to purchase commercial real estate in the Phoenix area are also applicable to residential real estate transactions. Fundamentals like job and population growth, especially when combined with a relatively low cost of living bode well for all types of real estate sales and purchases, be they commercial, land or residential.

Technorati Tags: Phoenix real estate,  Phoenix commercial real estate sales

Woe is me. Pepsi Vanilla is no more.

Pepsi Vanilla, which I’ve fondly referred to as “The Nectar of the Gods,” has been discontinued.

I am deeply depressed.

It began to be hard to find in local grocery stores several weeks ago. But I could always find a 12 pack here and there. Occasionally I’d find a bottle in a corner store. Then 2 weeks ago it was gone. Nowhere to be found. No notice, no warning. No chance to stockpile. I didn’t even get to truly savor the last can (though I can tell you it was consumed sitting in the parking lot that’s also known as the Superstition Freeway. I remember it well. I only wish I had known then it would be my last chance to experience Nirvanna.)

I just called the Pepsi Consumer Hotline and a nice young lady named Teresa informed me that it has been discontinued due to poor sales. That certainly isn’t my fault, as I would often drink six or more a day.

Despite discontinuing production of this wonderful elixir, Pepsico still flaunts PepsiVanilla.com in my face!! I can download a Pepsi Vanilla wallpaper for my PC, but I can’t buy a can to drink?!? Does Pepsi understand what this is doing to me? Oh the humanity!

I ask my local readers to keep their eyes peeled for Pepsi Vanilla (Regular, NOT diet!). Should you locate any, BUY IT ALL. I will gladly reimburse you and pay a handsome finder’s fee as well.

At this moment, I can’t imagine life without Pepsi Vanilla. I know, I know, life will go on. Somehow.

Today is one of the saddest days of my life.

Technorati Tags: pepsi vanilla

I’m a big movie fan–of just about any genre (though I tend to favor dramas). Up until now, I’ve only posted about one movie on this blog (United 93).

In the last two days, I’ve watched two very good films that could be summed up as “being about the human spirit”. One is out on DVD and one is still in theaters. Both are based on true stories, which for me seems to make a movie more compelling, even though you know how it’s going to end.

We watched World Trade Center yesterday. It’s a powerful film based on the story of two Port Authority policemen who were trapped in the rubble of the World Trade Center. The movie cuts back and forth between the trapped cops and their families. This can get a bit annoying at times, but it is effective in letting us see the actions and reactions of all involved in this tiny portion of what happened that awful day. Much like United 93, watching this movie brings back memories of the chaos of September 11. As I watched it, I wondered how many were trapped like these cops were, but didn’t make it out. I was also stunned at the bravery that abounded on that, and following days. If you read the reviews of World Trade Center on IMDB, you’ll see polarized opinions. But it’s polarizing subject matter. World Trade Center isn’t nearly as painful to watch as United 93, but it’s no walk in the park either. Get past the pain though, and you have a film about survival, human will, and some very brave people that should be watched by all.

For lack of better words, I’ll just go cliché and call The Pursuit of Happyness an “inspiring story of human achievement”. What Chris Gordon (superbly played by Will Smith) goes through to raise his son and start a career would, in all honesty, make a lot of people just give up and take a header off the nearest bridge. This film should make you think, and make you hope. You’ll laugh and you’ll cry. If this film doesn’t inspire you, I fear you have no pulse.

Greg and Drew both wrote about The Pursuit of Happyness as well.

See either film. Better yet, see them both. I don’t think you’ll be disappointed.

Technorati Tags: World Trade Center, Pursuit of Happyness

I’m playing around with a new theme. Please bear with me while I get this out of my system…. If you see something you like (or don’t like) comments would be appreciated!