Home Staging is Quickly Becoming a Necessity, According to Local Real Estate Professionals

By Michael Fahey | August 13, 2009

According to the Fahey’s, staging should involve as many areas of the home as possible. Two of the most important areas to stage are the family and living rooms, because potential buyers so often focus on these spaces when considering a home. Country Ranch GMAC Real Estate offers these home staging suggestions, which local real estate professionals have used with good results:

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Will we be the Caboose?

By Michael Fahey | August 8, 2009

Will we be the “caboose” when it comes to following the real estate market in Southern California? I ran across the following market update and decided to share it with you…..

There is a significant decrease in number of available homes for sale and an increase in pending home sales in Orange County California. In May of 2007, there were 16,238 active listings and only 3,001 properties in pending status, today’s figures are reversed, half actives and almost doubled pending sales. As of August 5 th 2009, there are 8,750 active listings in Orange County and 6461 properties in pending status according to SoCal Tempo MLS.

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Real Estate – it’s not going away!

By Michael Fahey | July 19, 2009

The oldest use of the term “Real Estate” that has been preserved in historical records was in 1666. In other words, real estate has been around for a very long time. However, it is not going away! It will be around until the end of time. What a comfort that is. With the slump that is happening, it is a reassurance to know that even if the economy gets bad, real estate is here to stay.

Real Estate is a legal term, according to Wikipedia, that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location. The word “fixed” is the keyword here, meaning unmovable. Real Estate is here to stay!

Wikipedia also states that it has been argued that the word Real is derived from “royal”. For hundreds of years the Royal family and/or King owned the land, and the peasants paid rent or property taxes to be on the Royal’s land. Today, just like hundreds of years in the past, we pay property taxes, or rent to be on the government’s land or the Royal Estate. Isn’t it great to know that even though we do have to pay property taxes our homes are owned by us and not a king or government or royal family!

This article has been a little bit about the history of Real Estate, but thankfully there is a great future for real estate. Make your own future and invest in “Real” estate.

If you are looking for a home or selling real estate in the Bullhead City, Fort Mohave, Mohave Valley Arizona areas then we can help!

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Real Estate Udate July 09 Bullhead City Arizona

By Michael Fahey | July 6, 2009

Wow! We have finished the first half of 2009. All numbers indicate that we finished the first half of the year strong in the Bullhead City, Fort Mohave and Mohave Valley, Arizona markets.

Gazing back over the first half of 2009, our market sales are up from 301 single family homes sales in 2008 to 467 single family home sales 2009. Wow, that is a 153% increase in sales over the first half of 2008. Unfortunately the median sales price for the first half of 2008 was $202,500 compared with first half of 2009 coming in at $135,500. We’re also seeing an indication that active inventory has been decreasing. As of January, 2009, we started at 844 active homes and as of today’s date there are currently 591 single family homes on the market in the Bullhead City, Fort Mohave and Mohave Valley, Arizona areas.

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Avoiding Foreclosure

By Michael Fahey | June 29, 2009

NEW HELP/HOPE FOR TROUBLED HOMEOWNERS

Everyone is aware of the “Foreclosure” crisis effecting most of the country and our home town of Bullhead City real estate is also affected.  Much has been written about Homeowners who are “upside down” or “underwater” with home loans that are now higher than the value in their homes. Since our Bullhead City, Fort Mohave and Mohave Valley real estate market saw the values rise at an amazing rate, we are now experiencing the downside of a declining market.  What can a person do who is faced with this situation and is falling behind with loan payments?

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2009 Real Estate Market Update

By Michael Fahey | June 25, 2009

A Message from the President

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Find your Dream Home in Arizona

By Michael Fahey | June 20, 2009

Is your dream home etched in your mind? Are you just waiting for the perfect time to bring it to reality? Now is the time! The market is slow at this time, which makes it a buyer’s market. With the interest rates low and many homes available, there is no better time than the present especially if you are looking for a home in the Bullhead City, Fort Mohave, Mohave Valley Arizona areas.

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May 2009 Bullhead City Market Update

By Michael Fahey | June 9, 2009

 As a result of this real estate and economic downturn I decided to attend a two day course in Phoenix last week.  Along with 250 REALTORS, we earned the CDPE designation.  The Certified Distressed Property Expert members are actively working to assist homeowners avoid foreclosure.  As the days unfolded we were taught techniques to successfully negotiate a short sale for our clients.  The class was a very eye opening event.  I now understand the urgency and will do my part in keeping foreclosures from occurring. Although a short sale negatively affects values in a neighborhood, it is not as detrimental to the values as a foreclosure.  The sale price of the short sale is generally higher than a foreclosure due to the fact that the home is conveyed to the buyer in good condition.  The neighbors benefit as they do not endure the unsightly neglect a property endures during the foreclosure period.  As we all know condition is one of the largest factors buyer’s places on the property when setting the offer price. 

May 2009 numbers are in and fortunately the inventory seems to be holding at slightly over 700 active homes on the market.  Sales are up 22% over last month and of those sales, the foreclosures market share dropped accounting for 59% of the market.  As we have seen in past months, with the drop in foreclosure sales, the average ($162,176) and median ($142,000) sales price is up slightly.  Full report click here.

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Favorable time to buy a home.

By Michael Fahey | June 9, 2009

Record-Low Interest Rates, Great Prices and Spring. What Does It All Mean? “Our Busiest Time of Year,” says Country Ranch GMAC Real Estate

Brookfield Residential Property Services, which bought GMAC Real Estate in Late 2008, is adding to renewed optimism

 

Bullhead City, AZ (Grassroots Newswire) June 3, 2009 — With the spring home-buying season in full swing and record-low interest rates and a decent inventory of homes for sale luring buyers off the fence, real estate professionals in Bullhead City are busier than they’ve been in many months according to Michael Fahey of Country Ranch GMAC Real Estate based in Bullhead City.

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Helping Home Owners Avoid Foreclosure

By Michael Fahey | June 3, 2009

Petra Fahey and Pamela Mello of Country Ranch Realty have earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

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