Bobby Lieb

DRE: BR007861000


(602) 376-1341
(602) 230-7600 (Office)

Bobby's Blog

Phoenix Market Conditions Continue to Show Upswing

Posted On: March 10th, 2015 5:43PM

Great news for homeowners in North Central Phoenix and the Biltmore as forclosures have gone back down to pre-bust levels.  See Catherine Reagor's colum in the Arizona Republic that provides an update on forclosures. I can also tell you that sales have been consistently picking up in these areas. 

 

I am working with quite a few clients who are downsizing due to their children growing up and leaving home, or those selling in areas such as North Scottsdale or North Phoenix because their children are now attending schools in North Central. A move into the Bitmore or North Central is a good decision for them because these areas maintain value, and with the convenient location, they won't be spending hours every day in transit. 

 

Let me know if you are looking for an estimated value of your home, or if you would like to know more about these areas. Timing is right for downsizing, or finding a more centrally located community for your family. 

 

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What's your Home Worth - Determining Market Value

Posted On: March 3rd, 2015 8:39PM

One of the common and biggest challenges when listing a client's home is agreeing on the price with the seller that is realistic to get showings and more importantly an offer. Having sold over 1800 homes in North Central and the Biltmore area, many of them more than once, I have a pretty good idea what the value of a hope will be. Although remodeling may change the value and neighborhood prices play a role in current values, I can usually get the price in the right area for what the market will support. That said, a growing challenge has erupted, and it involves going listing appointments where the owner is expecting to get a number that they found on Zillow.  
 
While Zillow is the most popular online real estate information site, with 73 million unique visitors in December along, their data is highly inaccurate when it comes to estimates. Zillow lists active listings for sale as well as information on houses that are not on the market with their "Zestimate".
 
Realtors and Appraisers do not use Zillow because it is not an accurate source. Zestimates have a median error rate of about 8% or on a $600,000 home, that would be $48,000. In some parts of the country Zestimate values have ranged from 12% to 25% off the final sales price and in some sales, as much as 50% off. I understand Zillow made desireable information easily available for the general public, but a more reliable source is your Realtor and in the end the value will be established by the appraiser.
 
It's okay to look at Zillow as a starting point for pricing discussions, but trust the authorities on local real estate values--experienced agents and appraisers for the real market value and you will save yourself a lot of time and be able to base your decision to sell or not to sell on reliable information. 
 
Another common conversation I am having is with sellers who paid X dollars for their home in 2005, when the market was crazy. They are expecting to get more money on a sale today than what they paid, which is not always the case.  Or, if I am working with sellers who are looking to net number on their sale to allow them to pay for private schools and or college. My reply to these folks is to share the comps and tell them honestly what the market will support. Many people don't realize that appraisers will never support a number that just does not comp out..While I have made mistakes on evaluations in the past, I am usually able to get pretty close on a realistic number that meets with what the appraiser determines. It's always best to get input from professionals, who work in the market every day for your projected value. 
 
If you would like to find out the value of your home, or talk about ways to enhance your home's value through a remodel, call or email me! 

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Maricopa County Home Values on the Rise

Posted On: February 25th, 2015 5:52PM

 

The Arizona Republic reported today that home values around Maricopa County are on the rise.

 

This is good news for people who are considering selling your home. I've been having great results in North Central and the Biltmore with my recent listings, and I can tell you timing is right. Take a look at some recent sales in the area.

 

I do want to caution you from using online applications like Zillow as a single source for determinging your home value. Real estate professionals, indlucing me, around the country are concerned about the message these sites are sending to home owners. Here is a recent article that appeared in the LA Times about the issue. We are facing the same challenges here. For the best, most accurate home value estimate, you are going to be best served by working with a qualified real estate professional, rather than relying on a source like Zillow. 

 

Email me if you would like to arrange a consultation and determine the value of your home for selling.

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Phoenix Home Market Improves in 2014, good news for sellers in 2015

Posted On: February 20th, 2015 7:35PM

The Phoenix housing market showed improvement last year, particularly in the townhome and condo markets according to this RL Brown report posted in Arizona Business Magazine. 
 
Personally, 2014 was my most successful year and I agree with this article that we can anticipate continuing to see continued improvement through 2015. 
 
If you're considering selling your home, it's time for us to talk. Message me or give me a call so we can evaluate your home and put our marketing program to work for you! 

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February 16, 2015 - Appreciating Local History of the Biltmore

Posted On: February 16th, 2015 5:39PM

The Biltmore area is one of the most prestigious locations in Phoenix.  Some of the most recognized landmarks of the area include the Biltmore Resort and its hiking trails; the Wrigley Mansion and the notable 24th Street and Camelback shopping mall.

 

Surrounded by luxury homes and a business district, lies the historic Arizona Biltmore hotel.  The famous hotel is where the name for the Biltmore area came from.  This Arizona landmark first opened February 23, 1929 and was referred to as “The Jewel of the Desert.”

 

The striking design of the Arizona Biltmore is one of the first things that you will notice when arriving.  Many have thought that the dramatic features of the hotel were designed by the creativity of famous architect Frank Lloyd Wright, when in fact, the hotel was designed by Albert Chase McArthur, who studied under him. 

 

The Arizona Biltmore has a rich history of guests, which include presidents and celebrities.  In fact, Marilyn Monroe called the hotel’s pool, her favorite pool!  It’s a little bit of Washington and Hollywood in the desert, and it’s that history and luxury that bring people to the Biltmore area, to call it home.   

 

Also not to miss is the Wrigley Mansion, which sits atop a small hill overlooking the Arizona Biltmore hotel.  Originally built in 1932 as a 50th Anniversary gift to his wife, bubble gum guru, William Wrigley Jr. primarily used Wrigley Mansion as a winter home.  The mansion is famous for its amazing views of the surrounding mountains and the valley below.  Wrigley Mansion spans for 16,000 square feet and has 24 rooms and 12 bathrooms. 

 

The Wrigley family continued to own the mansion until 1973, then changing hands several times.  In 1992, the City of Phoenix was planning on tearing down the mansion to make room for condos, when Geordie and Jamie Hormel bought it.  The couple then restored the property with the intention of sharing Wrigley Mansion with everyone.

 

Wrigley Mansion has been designated as a “Phoenix Point of Pride” and is a popular destination for weddings, conventions and special events.  Due to zoning regulations, Wrigley Mansion must operate as a private club.

 

It’s a highly sought after area due to its luxury shopping, fine dining and a high standard of living.  While modern amenities such as shopping, fine dining and upscale housing are what you think of when you refer to the Biltmore area, it’s the history of Biltmore that is much more fascinating.

 

The Biltmore is located in north central Phoenix, spreading out from the area of North 24th Street and East Camelback Road.   When looking for high-end stores or delicious restaurants, you can visit the exquisite Biltmore Fashion Park.   Originally opening in the 1960s, the Biltmore Fashion Park was later renovated in the early 2000s to become the extraordinary place that it is today. 

 

A hub of Arizona history make the Biltmore highly desirable for history buffs, and those who appreciate architecture, design, art and the glitz and glamor of Hollywood! 

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