Bobby Lieb

DRE: BR007861000


(602) 376-1341

Bobby's Blog

North Central Home Values are Changing

Posted On: October 10th, 2017 8:24PM

I want to thank all of you for helping me achieve the #2 agent ranking in Maricopa
County for 2016 based on sales volume data researched by the Phoenix Business Journal
for the second straight year. We sold 130 homes valued at $70 million lastyear.
I received an interesting e-mail yesterday from a North Central resident blaming ME for all the tearing
down of older nonhistoric homes in North Central, building brand new homes and
basically destroying North Central. There were a few %*%*# in my responses to him because he got very personal with me but Iasked for him to call me in the morning so that we could clear the air. We talked for
about 20 minutes the next day ... lots of yelling initially but here is what I explained to
him. I explained that dad moved to Central Phoenix in 1964 so my brother and I visited him twice a year until I moved here in 1978. I also told the resident that many times when I get hired to sell the homes for a developer, the land was already purchased before I got involved.
Sellers always want the most money they can get for their property and if it is a big
lot, usually the developers will pay the most money for the land. I have never met a seller
who will say they will take less money if the buyer is not a developer. You also have to realize
that more than 25 percent of the time I am dealing with the surviving family members
who just want as much money as they can from the property and could care less
about anything else. That certainly is their right and can you blame them? The real key
issue here is the zoning of the property. If the lot allows 2-5 homes and meets all the city requirements,
such as setbacks, lot dimensions,etc., then there is not a lot the neighbors can
do to fight it. It is always smart for the developers to meet with the neighbors before hand
to smooth over any objections that might exist since they are neighbors.
I understand that my sign is what the neighbors will see and if they are upset they will call
me. Truthfully, if the zoning supports multiple homes then it is not the realtor’s fault. I strongly disagree with complaints that the new developments cause harm to North Central..Quite the contrary. Arcadia's values are off the charts because they tore down the old homes and built new million-dollar mansions. The same
goes for North Central. Homes that are 60 to 70 years old are past their prime unless they are
zoned historic. I see buyers moving here from Arcadia and PV who are buying because of all the
new homes. I do not think it is any coincidence that we have more than 50 new restaurants in our
area because of all the new families buying these new homes. I also do not think there is any coincidence
our home values are increasing because the new developments also generate more taxes,
which help increase the quality of our local schools. I saw this happen in Paradise Valley when I
first started in real estate in the 1990s. Buyers and developers tore down the 50- and 60-year-old
3,000-square-foot homes because the value was in the land and put up 6,000-square-foot homes.
Guess what happened to the home prices in PV? The values increased 10 fold and PV also collected
more property taxes. Please stop telling me that new developments are causing harm to our
area. Everybody benefits from these changes and it is something that needs to happen for areas to
keep growing. I am happy to discuss any thoughts you may have on this article. Email me at
boblieb@aol.com. Hopefully you are calling me to sell your home!! We have sold 118 homes so
far in 2017. Have a safe and happy October!

 

Bobby Lieb
Associate Broker
HomeSmart
Elite Group Manager/Founder
5225 N. Central Ave., Ste. 104
Phoenix, AZ 85012
Mobile: 602-376-1341
Fax: 602-996-9141
www.centralphx.com
www.biltmoreazagent.com

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