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Gilbert Days Parade is Back!

On August 27th we regrettably posted that the Gilbert Days Parade would be canceled for the first time in its 3 decade history. However, increased funds in the form of parade sponsorships, and decreased costs allowed the long standing tradition to continue.

There are some major changes that participants and attendees of the parade should be aware of. To cut down on parade costs, the distance the parade travels has been cut in half. The parade will now start out on Guadalupe road and run to Hackmore Street. Because of the shorter distance money will be saved on police monitoring, road blocks and trash containers. Also paved school district lots will be used to stage parade participants instead of the dirt that was used previously. This will cut down on costly dust mitigation.

The Gilbert Town Council voted last night 7-0 to put the parade back on due to the new funding received by the parade committee. The next hurdle is getting word out that the parade is still on. So tell your friends and enter your business to be in the parade for only 250$ this Nov 14th!

For Many, The Time Time to Buy an Investment Property Is Now

The housing market in the greater phoenix area is turning many homeowners into investors.   The chart below shows that phoenix is currently ranked 3rd in the number of homes sold in the last 9 years.  This is a telling sign of what many investors already know, the inventory levels of homes priced at $350,000 and below are getting low.

Rank Year Number of Sales
#1 2005 54,142.00
#2 2004 48,067.00
#3 2009 45,053.00
#4 2006 40,264.00
#5 2003 39,225.00
#6 2002 33,469.00
#7 2001 32,254.00
#8 2007 32,105.00
#9 2008 26,936.00

Other than the low prices compared to previous years there are more reasons people are choosing to buy investment properties.

  • Buyers are seeing opportunities to make their rental properties “pencil”.   In other words they can rent out their investment home to someone for as much or more as it costs them to maintain the property(mortgage payment, HOA, insurance, etc).  Being cash positive allows investors to make their second home not only an investment but also another source of income.
  • There are multiple private money funds of $1 – $300 million that are buying up 1-10 homes per day in the greater phoenix area.  These are cash buyers investing smart money back into the AZ real estate market.  This is lowering the inventory and will in turn drive up prices.
  • Many smaller investors are following the smart money and buying homes in the phoenix market.  While they may not be cash buyers lending practices have eased slightly and investors with 20% down are finding it much easier to finance.

Because of the still stringent lending conditions it is tough to finance a house unless you are a cash buyer.  It is important to select an agent that has experience with investors when choosing someone to represent you.   The bottom line is that while inventory is drying up due to the increase in home sales, it is a great time to buy an investment home at a low price with a low interest rate.

Mortgage Relief Program – We’ll Make Your House Payments For You

This Arizona Real Estate Agent Follows Car Company Promise

Real Estate veteran and community advocate, Troy Reeves, of RE/MAX Alliance Group, is now offering a Mortgage Relief Program, to new homeowners who may be worried about losing their jobs. Home buyers who purchase a home from Troy Reeves and The Reeves Team, in 2009, will find peace of mind when they learn that this real estate professional is offering to make your house payment for you – for up to 120 days – if you lose your job over the next year!

“After 15 years in East Valley real estate, this is my way of giving back to our community. With unprecedented prices and historically low interest rates, we have removed the last obstacle keeping buyers from becoming homeowners. This promise only helps in this uncertain time.” says Troy Reeves.

Troy Reeves and The Reeves Team are real estate industry innovators with over a decade of experience and hundreds of satisfied clients. Troy Reeves has created industry firsts, like:

One Hour Return Call or Dinner For Two Is On Us

The 90 day Sale program

“If you are not happy with the home you purchase with us, we will sell it for you FREE”

Troy Reeves was also one of the first REALTORS® in Arizona to create a “team” concept in the real estate market.

The following Terms & Conditions Apply:

  • One or both spouses lose* their job over the next 365 days.  (person whom loses job must be primary mortgagee).
  • Person or persons must purchase home with RE/MAX & The Reeves Team in 2009 and Troy Reeves & Team must receive 3% co-broke upon purchase of that home.
  • If new home owner, at any time replaces or starts new job within 120 days of losing it, mortgage relief package (MRP) does not apply.

* Lose means laid off  (does not mean fired or quit)

New conference center for Gilbert may be coming soon

santanfountainGilbert Arizona has exploded in population over the last decade and now has 215,000 people living within its borders. One thing the town does not have though is a large conference center. That could be changing soon if developer get his way.

An investor is looking to build a 121 room hotel an conference center near the San Tan Village shopping center. If permits are approved, which investors are hoping will be done by May, the location of the new conference center will be near Ray Rd and Williams Field across from the mall’s Macy’s department store. The plan is to break ground shortly after the permits are approved.