Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A with some important information from my friend Beth Jo Zeitzer at ROL Properties.
Zeitzer reports that since the end of February, the residential real estate tables have tipped back in favor of sellers—mostly resulting from an increase in buyer demand across all price points during the peak season. She provides all the details in their R.O.I. Properties “Real State – Residential” newsletter, which includes additional statistics, market trends and information. Below is a quick view of the highlights:
- Year-to-date residential sales in 2016 are up 2.7% in week 17 of 2016 compared to this time last year, although sales are down in the sub-$175K and $1 million-plus categories. New listings are up almost 5%, and appreciation is highest at the lowest price points.
- The Listing Success Rate—the percentage of successfully closed transactions out of the total number of listings that closed, cancelled and expired within a specified time frame—was 79% in March, the highest since July 2013’s measure of 80%.
- Fix-and-flip investors are still an active part of the Phoenix real estate market, if not as prominent as during the foreclosure crisis. Last month, fix-and-flip investors sold 573 properties, a significant increase compared to the past 14 months.
- The average lease rate for residential rentals through the Arizona Regional MLS continues to rise. April 2016 marked a high point at $0.86/s.f.—and we take a look at the most and least expensive areas.
If you are interested in getting more information on commercial real estate, you can send Beth Jo an email to subscribe to her “Real State – Commercial” newsletter
Well, that’s it for this time! Make it another great day!
Blessings,
Billy A
P.S. If you or someone you know is struggling to obtain financing or just wants to “Brainstorm” and receive “Great Information Without Obligation” on any aspect of real-estate, including leverage – Please don’t keep me a secret!
Give me a call at 520-299-4878. As a Creative Lender, my team and I have been providing Meaningful Alternatives to traditional lending for over 30 years!