Here is a quick video with my take on the commercial real estate market in Scottsdale, AZ.

Top Five Things You Need to Know Before You Buy!

1) Look for Debt Free Clubs-
Don’t’ buy into a club that is in financial trouble and regret it. Check to make sure that the country club is in the utmost condition. Look at their maintenance records and see if their grounds are well kept, lack of attention to these top items at a club is a sure sign of financial trouble. If at all possible and check their financials.

2) Location, Location, Location-
Find out which country clubs are the most desirable locations and why. Is it because the energy costs and road maintenance is lower or is it because of the mountain views and trails. Get a list of the top Country Clubs in your area and ask a Country Club specialist why they are considered to be a top choice.

3) Know The Country Club Rules of Conduct & Contract Details-
Read all of the rules and regulations as well as the membership contract. Remember that in most cases acquiring membership means that you have acquired a certain status. You have to represent the club well or risk getting your membership revoked. Know the rules and contract thoroughly so that you have an understanding of what is expected and don’t be afraid to ask for reasonable modifications to better suit your needs and experience as well.

4) Question Members-
Although member rosters might be private, check around the community to see if there is anyone you might know to give you feedback on the club. You can also request a private tour and talk with members or member ambassadors during your visit. Ask questions that are the most important to you in making a decision to buy.

5) Have Knowledgeable Representation-
Make sure that your agent not only has the experience to represent you from start to finish but they must have transactions and positive dealings with the Country Club you are looking to invest in. Are they knowledgeable about the club, can they get you a private tour or do they deflect your questions or not give you solid answers.

Pete Baldwin
Designated Broker
Platinum Realty Network

Top Five Reasons Why You Should Invest in a Home in 2011

1) Mortgage Rates Are Still Low- While mortgage rates have been inching up in recent months, economists predict they will remain in the 4% to 5% range for 2011 and perhaps rise above 6% in 2012. Even though these rates are increasing, they are still well below average mortgage rates compared to just a few years ago. This means it can keep your payment relatively low and your loan closing costs as well.

Prediction Made in 2010- Freddie Mac appeared on our housing market predict-o-meter back in October. Here’s another set of predictions, this time from their chief economist Frank Nothaft. This commentary comes from the Freddie Mac blog, where Mr. Nothaft recently shared his thoughts on the type of housing market we’ll see in 2011. He feels that fixed mortgage rates will remain below 5 percent next year, while the 5/1 ARM will remain below 4 percent. He also forecasts a rise in purchase loans and a decline in refis.

2) Lenders Seem to Be Loosening Standards- Lawrence Yun, chief economist for the National Association of Realtors (NAR), says overly tight restrictions on loan approvals have hurt the housing market. NAR has been lobbying lenders to loosen their standards and the expectation is that as the economy improves, credit will become more accessible. Signs are already surfacing showing that lenders are loosening their standards and closing more loans.

3) Scottsdale Inventory is Abundant Yet Moving- Although there is currently a lower inventory in the foreclosure market in Scottsdale, there are still some great buys to be had. The residential market in Scottsdale continues to rise on a price per square foot basis; 2010 was up 8 percent from 2009; The current average price per square foot in North Scottsdale is $180.62. The purchase of second homes and upgrading from other communities to Scottsdale is the reason behind this recent trend throughout 2010. Scottsdalehas always been known for known f its beauty, high end living, shopping and diningand year round desirable whether, hence the increase in second home purchases in our area.

4) Extending the Tax Cuts Could Encourage a More Rapid Recovery for the Economy- Tax cut extension could lead to faster recovery. 
Some economists are revising their predictions about economic growth and increased employment as the government extends tax cuts and unemployment insurance benefits.

5) There Will Be More Opportunities Available for Cash Buyers and Investors- Real estate investors and others with the funds available for an all-cash purchase have been an increasingly larger pool of buyers in Scottsdale for 2010, and this trend is expected to continue in 2011. These buyers can quickly snap up inventory without waiting for a loan approval, a short sale approval or competing against a less desirable buyer., thus increasing the number of home sales in our individual market.

Pete Baldwin
Designated Broker for Platinum Realty Network