Dog Days and Haboobs

As drove to Phoenix the other day I experianced something new. This started as a typical late summer dog day, clouds building on the horizon and crawling over the mountaintops like whipped cream on a sundae. The monsoon rain and wind came and went three times as I headed north, suddenly up ahead it appeared to be fog. I knew this could not be. But it seemed to be rolling across the interstate the way fog comes in from the ocean. As I came closer to it the color was a light tan not grey, it was dust and sand from the surrounding desert. It was not blowing the way dust storms do, it was hovering. As I drove it became thicker and darker this was something I had never experianced, yet my instincts told me to keep moving forward. Later I found out this was a small haboob or dust cloud. The heat of this dog day 112 and the monsoon wind patterns had created this phenomenon. I began pondering how our Real Estate market the past few years is much like this. We began seeing signs on the horizon much like monsoon clouds. Our market was very overheated and had wind patterns pushing in from other areas causing a large cloud to hover over the market. This haboob like storm has been new to us, it has been denser, more far reaching, and longer lasting than ever before in my career. Just like the cloud of sand I drove through this market will end also. It seemed I would never come out of the dust, just as sudden as it appeared it was gone. If I had not kept moving forward I could have been stuck in the storm. Do not allow yourself to become stuck keep moving forward with your life and plans. You may need to alter the plan as I had to alter my speed, but we will all come out the other side.

THE HEAT INDEX IS RISING

It's the end of July and things are heating up in our Real Estate Market. No it's not 2005 but those of us that have continued in the face of adversity are beginning to feel the rewards. I'm not talking about the elusive commission check only, but seeing people who had been priced out of the frenzied market able to step in now. With the great convergence of low interest rates and low prices the opportunities are boundless. Yes the search for a home can seem overwhelming since there are so many, most with distress of one kind or another. As a buyer you must have total trust in the team assisting you, lender, Realtor, inspector, and others. The process today is not easy with so many types of transactions available. Short sale is a trial of ones patience. It can be very humbling when you realize it does not matter who you are or how much cash you have, it will take time. I recently had a client buying a winter home that was a short sale, he had not purchased a home in over two decades. The process was confusing and irrating to him. After many weeks on a rollercoaster ride he has the home he wanted at the price he wished to pay. Foreclosed or REO properties have another set of challanges. Many of these properties have been empty a few monthes to over a year this is not good. The price point is very attractive yet condition gives one pause. Yes you can find a good REO home but be prepared to have an extended search. I am closing one next week with a young family that could not afford this home in the previous market. The home is move in condition, could use some updating but this can be done over time. With the low price and interest they will be able to do this soon and have a showplace. Do not be mislead todays market does have heat, it's all relative to your position.