I’ve been talking about low-priced condos lately, but don’t get the idea that single-family homes are selling for a king’s ransom. Just the opposite is true. If you’re willing to drive to some of the near-in suburbs, you can pick up a newer single-family home for less than $100,000.

Want proof? Shown below are fifty decent homes selling for very low prices. These are the kind of homes I pick out for rental-property investors, but these houses would make nice homes for owner-occupants, as well. And, unlike condominiums, these homes can be financed.

If you’d like to know more, send me an email or phone me at 602-740-7531.

Meanwhile, this map will show you where these homes are situated:

View 50 homes in the western suburbs of Phoenix in a larger map

And here are photos and brief descriptions of each property:

Surprise: 14804 West Acapulco Ln, Surprise, AZ 85379

List price: $88,000. 3 bedrooms, 2 baths. 1,219 square feet. Courtesy of: American Realty Services. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15806 West Papago St, Goodyear, AZ 85338

List price: $97,500. 3 bedrooms, 2.5 baths. 1,965 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 11625 West Washington St, Avondale, AZ 85323

List price: $86,900. 4 bedrooms, 2 baths. 1,669 square feet. Courtesy of: RE/MAX Desert Showcase. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12965 West Verde Ln, Avondale, AZ 85392

List price: $99,900. 3 bedrooms, 2 baths. 1,632 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17017 West Marconi Ave, Surprise, AZ 85388

List price: $99,900. 3 bedrooms, 2 baths. 1,366 square feet. Courtesy of: RE/MAX Excalibur Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 11166 West Filmore St, Avondale, AZ 85323

List price: $92,900. 3 bedrooms, 2.5 baths. 2,275 square feet. Courtesy of: Realty World Superstars. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16519 West Post Dr, Surprise, AZ 85388

List price: $89,900. 4 bedrooms, 2 baths. 1,482 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12621 West Earll Dr, Avondale, AZ 85392

List price: $96,500. 3 bedrooms, 2 baths. 1,641 square feet. Courtesy of: Millennium Real Estate Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12846 West La Reata Ave, Avondale, AZ 85392

List price: $95,000. 3 bedrooms, 2 baths. 1,611 square feet. Courtesy of: Sueno Realty Group, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12342 West Turney Ave, Avondale, AZ 85392

List price: $99,600. 3 bedrooms, 2.5 baths. 2,226 square feet. Courtesy of: Arizona Residential Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15768 West Yavapai St, Goodyear, AZ 85338

List price: $99,900. 3 bedrooms, 2 baths. 1,446 square feet. Courtesy of: We Sell Real Estate, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12617 West Fairmount Ave, Avondale, AZ 85392

List price: $99,900. 4 bedrooms, 2 baths. 1,530 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15553 West Durango St, Goodyear, AZ 85338

List price: $65,900. 3 bedrooms, 2 baths. 1,206 square feet. Courtesy of: Keller Williams Realty Sonoran Living. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 10510 West Roanoke Ave, Avondale, AZ 85392

List price: $82,900. 3 bedrooms, 2 baths. 1,345 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17729 West Mandalay Ln, Surprise, AZ 85388

List price: $91,500. 4 bedrooms, 2.5 baths. 1,839 square feet. Courtesy of: Odette Lagneaux. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17030 West Rimrock St, Surprise, AZ 85388

List price: $99,900. 3 bedrooms, 2 baths. 1,366 square feet. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16411 North Maryland Ave, Surprise, AZ 85374

List price: $59,900. 3 bedrooms, 2 baths. 1,404 square feet. Courtesy of: Magnum Opus Realty LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 14965 West Port Au Prince Ln, Surprise, AZ 85379

List price: $75,000. 3 bedrooms, 2 baths. 1,190 square feet. Courtesy of: Green Street Realty LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17410 West Lisbon Ln, Surprise, AZ 85388

List price: $89,900. 3 bedrooms, 2.5 baths. 1,578 square feet. Courtesy of: RE/MAX Professionals. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17518 West Lisbon Ln, Surprise, AZ 85388

List price: $84,900. 3 bedrooms, 2 baths. 1,305 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16253 West Custer Ln, Surprise, AZ 85379

List price: $99,900. 3 bedrooms, 2 baths. 1,271 square feet. Courtesy of: West USA Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16927 West Tonbridge St, Surprise, AZ 85374

List price: $99,900. 3 bedrooms, 2 baths. 1,430 square feet. Courtesy of: American Scene Real Estate. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 15533 West Banff Ln, Surprise, AZ 85379

List price: $99,000. 3 bedrooms, 2 baths. 1,321 square feet. Courtesy of: Realty One Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 14870 West Charter Oak Rd, Surprise, AZ 85379

List price: $95,900. 3 bedrooms, 2 baths. 1,351 square feet. Courtesy of: Call Realty, Inc.. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12530 West Jefferson St, Avondale, AZ 85323

List price: $86,900. 3 bedrooms, 2 baths. 1,524 square feet. Courtesy of: Charlie Sykes Realty 17. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17155 West Saguaro Ln, Surprise, AZ 85388

List price: $89,000. 3 bedrooms, 2 baths. 1,251 square feet. Courtesy of: Liberty One Realty,LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 13027 West Cheery Lynn Rd, Avondale, AZ 85392

List price: $84,900. 3 bedrooms, 2 baths. 1,197 square feet. Courtesy of: Pivotal Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17436 West Watson Ln, Surprise, AZ 85388

List price: $85,900. 3 bedrooms, 2 baths. 1,283 square feet. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15844 West Navajo Cir, Goodyear, AZ 85338

List price: $97,375. 3 bedrooms, 2 baths. 1,572 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16544 West Ironwood St, Surprise, AZ 85388

List price: $90,000. 3 bedrooms, 2 baths. 1,310 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15527 West Mohave Cir, Goodyear, AZ 85338

List price: $99,900. 4 bedrooms, 2.5 baths. 1,992 square feet. Courtesy of: Platinum First Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17765 West Woodrow Ln, Surprise, AZ 85388

List price: $89,990. 3 bedrooms, 2.5 baths. 1,295 square feet. Courtesy of: Liberty One Realty,LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16933 West Marconi Ave, Surprise, AZ 85388

List price: $89,900. 3 bedrooms, 2.5 baths. 1,726 square feet. Courtesy of: RE/MAX Achievers. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 13122 West Calavar Rd, Surprise, AZ 85379

List price: $74,900. 3 bedrooms, 2 baths. 1,156 square feet. Courtesy of: Move Time Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Litchfield Park: 13157 West Fairmont Ave, Litchfield Park, AZ 85340

List price: $99,900. 3 bedrooms, 2 baths. 1,320 square feet. Courtesy of: RE/MAX Preferred Choice. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12642 West Amelia Ave, Avondale, AZ 85392

List price: $90,800. 3 bedrooms, 2 baths. 1,428 square feet. Courtesy of: HomeSmart. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 1937 North 107th Dr, Avondale, AZ 85323

List price: $99,999. 3 bedrooms, 2 baths. 1,240 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 16666 West Monte Cristo Ave, Surprise, AZ 85388

List price: $92,900. 3 bedrooms, 2 baths. 1,398 square feet. Courtesy of: Solutions Real Estate. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 14827 West Hearn Rd, Surprise, AZ 85379

List price: $99,900. 4 bedrooms, 2 baths. 1,482 square feet. Courtesy of: Move Time Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Goodyear: 15527 West Hammond Dr, Goodyear, AZ 85338

List price: $97,000. 4 bedrooms, 2 baths. 1,997 square feet. Courtesy of: Prudential American Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 17752 West Woodrow Ln, Surprise, AZ 85388

List price: $89,990. 3 bedrooms, 2.5 baths. 1,295 square feet. Courtesy of: Liberty One Realty,LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12575 West Fairmount Ave, Avondale, AZ 85392

List price: $99,900. 3 bedrooms, 2 baths. 1,327 square feet. Courtesy of: Realty Executives. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 601 North 119th Dr, Avondale, AZ 85323

List price: $89,000. 3 bedrooms, 2.5 baths. 1,539 square feet. Courtesy of: Viza Realty, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 13855 West Young St, Surprise, AZ 85374

List price: $67,500. 3 bedrooms, 2 baths. 1,024 square feet. Courtesy of: Keller Williams Realty Professional Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 13925 West Two Guns Trl, Surprise, AZ 85374

List price: $90,000. 3 bedrooms, 2 baths. 1,400 square feet. Courtesy of: Coldwell Banker Residential Brokerage. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12940 West Crittenden Ln, Avondale, AZ 85392

List price: $87,000. 4 bedrooms, 2 baths. 1,632 square feet. Courtesy of: Keller Williams Arizona Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Avondale: 12637 West Cheery Lynn Rd, Avondale, AZ 85392

List price: $99,900. 3 bedrooms, 2 baths. 1,683 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 18510 West Valerie Dr, Surprise, AZ 85374

List price: $99,900. 3 bedrooms, 2.5 baths. 1,898 square feet. Courtesy of: Brand 1 Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 13138 West Calavar Rd, Surprise, AZ 85379

List price: $75,500. 3 bedrooms, 2 baths. 1,132 square feet. Courtesy of: Liberty One Realty,LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Surprise: 15350 West Gelding Dr, Surprise, AZ 85379

List price: $89,900. 3 bedrooms, 2 baths. 1,634 square feet. Courtesy of: J L Berry Company. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Central and North Central Phoenix are going to be at the center of everything when the metropolitan Phoenix real estate market gets back to normal. If we assume steadily higher gas prices, homes in town will do even better.

Shown below are (count ‘em) 50 two-bedroom or larger condominiums right in the heart of everything, all of them selling for $100,000 or less. These are true condos, not co-ops, and the HOA fees are $250 a month or less for all of them. In other words, these properties will make good homes or profitable rental homes. And they’re all ready to be sold right now — no short sales.

If you’d like to know more, send me an email or phone me at 602-740-7531.

Meanwhile, this map will show you where these condos are located:

View Condos in Central Phoenix in a larger map

And here are photos and brief descriptions of each unit:

1450 East Bethany Home Rd, #15, Phoenix, AZ 85014

List price: $49,000. 2 bedrooms, 2 baths. 1,074 square feet. Courtesy of: RE/MAX Achievers. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5208 North 18th Dr, Phoenix, AZ 85015

List price: $44,900. 2 bedrooms, 2 baths. 1,326 square feet. Courtesy of: West USA Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6819 North 12th St, #20, Phoenix, AZ 85014

List price: $47,900. 2 bedrooms, 1 baths. 900 square feet. Courtesy of: RE/MAX Professionals. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1333 East Morten Ave, #237, Phoenix, AZ 85020

List price: $85,900. 2 bedrooms, 1 baths. 900 square feet. Courtesy of: RE/MAX Integrity REALTORS. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5303 North 7th St, #309, Phoenix, AZ 85014

List price: $74,900. 2 bedrooms, 2 baths. 1,170 square feet. Courtesy of: Coldwell Banker Residential Brokerage. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

740 West Elm St, #151, Phoenix, AZ 85013

List price: $45,900. 2 bedrooms, 2 baths. 929 square feet. Courtesy of: RE/MAX Excalibur. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1449 East Highland Ave, #33, Phoenix, AZ 85014

List price: $60,500. 2 bedrooms, 1.75 baths. 879 square feet. Courtesy of: Coldwell Banker Residential Brokerage. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3302 North 7th St, #149, Phoenix, AZ 85014

List price: $96,500. 2 bedrooms, 2 baths. 1,178 square feet. Courtesy of: Squaw Peak Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

4731 North 10th St, Phoenix, AZ 85014

List price: $95,000. 3 bedrooms, 2 baths. 1,152 square feet. Courtesy of: HomeSmart. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

385 West Pierson St, #A2, Phoenix, AZ 85013

List price: $48,500. 2 bedrooms, 1.75 baths. Courtesy of: Squaw Peak Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1701 East Colter St, #367, Phoenix, AZ 85016

List price: $93,900. 2 bedrooms, 2 baths. 935 square feet. Courtesy of: RE/MAX Excalibur Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1007 East Northern Ave, Phoenix, AZ 85020

List price: $44,900. 2 bedrooms, 2 baths. 1,008 square feet. Courtesy of: Keller Williams Integrity First Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3848 North 3rd Ave, #2089, Phoenix, AZ 85013

List price: $74,900. 2 bedrooms, 2 baths. 989 square feet. Courtesy of: Realty Central LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1402 East Osborn Rd, #2, Phoenix, AZ 85014

List price: $65,900. 2 bedrooms, 2.5 baths. 1,092 square feet. Courtesy of: DPR Realty, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6767 North 7th St, #233, Phoenix, AZ 85014

List price: $56,200. 3 bedrooms, 1.75 baths. 1,558 square feet. Courtesy of: RE/MAX Professionals. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1107 West Osborn Rd, #213, Phoenix, AZ 85013

List price: $41,500. 2 bedrooms, 2 baths. 1,108 square feet. Courtesy of: Squaw Peak Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1113 West Mission Ln, Phoenix, AZ 85021

List price: $90,000. 3 bedrooms, 1.5 baths. 1,102 square feet. Courtesy of: Realty Executives. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5256 North 18th Dr, Phoenix, AZ 85015

List price: $42,500. 2 bedrooms, 2 baths. 1,326 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1441 East Maryland Ave, #14, Phoenix, AZ 85014

List price: $40,000. 2 bedrooms, 1 baths. 750 square feet. Courtesy of: Squaw Peak Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1718 West Colter St, #168, Phoenix, AZ 85015

List price: $82,900. 2 bedrooms, 2.5 baths. 1,286 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5550 North 12th St, #9, Phoenix, AZ 85014

List price: $74,900. 2 bedrooms, 1.75 baths. 1,176 square feet. Courtesy of: The Williams Real Estate Company. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3848 North 3rd Ave, #2010, Phoenix, AZ 85013

List price: $71,900. 2 bedrooms, 2 baths. 989 square feet. Courtesy of: REALAZTATE. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

610 East Montebello Ave, #47, Phoenix, AZ 85012

List price: $57,500. 2 bedrooms, 1.5 baths. 981 square feet. Courtesy of: RE/MAX Professionals. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1569 West Hazelwood St, Phoenix, AZ 85015

List price: $42,000. 4 bedrooms, 1.5 baths. 1,584 square feet. Courtesy of: Keller Williams Realty Prof. Partners. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3633 North 3rd Ave, #2019, Phoenix, AZ 85013

List price: $95,000. 2 bedrooms, 2 baths. 938 square feet. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1352 East Highland Ave, #203, Phoenix, AZ 85014

List price: $57,900. 2 bedrooms, 2 baths. 971 square feet. Courtesy of: Realty Executives. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1718 West Colter St, #162, Phoenix, AZ 85015

List price: $89,000. 3 bedrooms, 2.5 baths. 1,617 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6542 North 7th Ave, #27, Phoenix, AZ 85013

List price: $72,000. 2 bedrooms, 1.5 baths. 1,074 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3848 North 3rd Ave, #2032, Phoenix, AZ 85013

List price: $74,900. 2 bedrooms, 2 baths. 989 square feet. Courtesy of: Realty Executives. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1579 West Hazelwood St, Phoenix, AZ 85015

List price: $87,000. 3 bedrooms, 2 baths. 1,440 square feet. Courtesy of: HomeSmart. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1012 East Highland Ave, Phoenix, AZ 85014

List price: $89,000. 2 bedrooms, 2.5 baths. 1,152 square feet. Courtesy of: Rose & Fields Real Estate. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

749 East Montebello Ave, #128, Phoenix, AZ 85014

List price: $45,000. 2 bedrooms, 2 baths. 840 square feet. Courtesy of: American Realty Brokers. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

750 East Northern Ave, #2016, Phoenix, AZ 85020

List price: $67,000. 2 bedrooms, 2 baths. 1,013 square feet. Courtesy of: On Time Real Estate. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1880 East Morten Ave, #217, Phoenix, AZ 85020

List price: $85,900. 2 bedrooms, 2 baths. 1,011 square feet. Courtesy of: RE/MAX New Heights Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

749 East Montebello Ave, #130, Phoenix, AZ 85014

List price: $63,900. 2 bedrooms, 2 baths. 840 square feet. Courtesy of: American Realty Brokers. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1247 East Medlock Dr, Phoenix, AZ 85014

List price: $84,900. 2 bedrooms, 1.5 baths. 1,560 square feet. Courtesy of: Help-U-Sell West Valley Specialist. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

4614 North 19th Ave, Phoenix, AZ 85015

List price: $59,900. 3 bedrooms, 2.5 baths. 1,608 square feet. Courtesy of: Prudential Arizona Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6501 North 17th Ave, #208, Phoenix, AZ 85015

List price: $68,900. 2 bedrooms, 2 baths. 1,281 square feet. Courtesy of: Sweet Arizona Real Estate Consultants. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6510 North 3rd Ave, #4, Phoenix, AZ 85013

List price: $89,900. 3 bedrooms, 2 baths. 1,266 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5303 North 7th St, #101, Phoenix, AZ 85014

List price: $69,900. 2 bedrooms, 2 baths. 1,170 square feet. Courtesy of: Keller Williams Integrity First Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

724 East Devonshire Ave, #310, Phoenix, AZ 85014

List price: $79,000. 2 bedrooms, 2 baths. 1,116 square feet. Courtesy of: Infill Realty Services. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1624 East Campbell Ave, #42, Phoenix, AZ 85016

List price: $92,000. 3 bedrooms, 2 baths. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

724 East Devonshire Ave, #101, Phoenix, AZ 85014

List price: $69,000. 2 bedrooms, 2 baths. 1,116 square feet. Courtesy of: Infill Realty Services. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1017 East Maryland Ave, #140, Phoenix, AZ 85014

List price: $50,000. 2 bedrooms, 2 baths. 1,008 square feet. Courtesy of: Bertram Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6565 North 19th Ave, #1, Phoenix, AZ 85015

List price: $54,900. 2 bedrooms, 2 baths. 1,152 square feet. Courtesy of: HomeSmart. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1702 West Tuckey Ln, #131, Phoenix, AZ 85016

List price: $89,500. 2 bedrooms, 1 baths. 863 square feet. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6116 North 12th Pl, #3, Phoenix, AZ 85014

List price: $79,900. 2 bedrooms, 2 baths. 1,538 square feet. Courtesy of: Prestige Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6109 North 12th St, #8, Phoenix, AZ 85014

List price: $95,000. 2 bedrooms, 2 baths. 1,538 square feet. Courtesy of: Coldwell Banker Residential Brokerage. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6315 North 16th St, #153, Phoenix, AZ 85016

List price: $95,000. 2 bedrooms, 2 baths. 900 square feet. Courtesy of: Maravilla Real Estate. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

6030 North 15th St, #17, Phoenix, AZ 85014

List price: $78,000. 2 bedrooms, 1.5 baths. 1,273 square feet. Courtesy of: Rimsza Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

I’ve never loved multi-family properties as rental home investments. Phoenix is the world’s largest cow-town, and cowboys love their land. Fee-simple housing — the structures that come with their own dirt — has always performed better here, over the long haul, than any sort of condominium plat.

My opinion hasn’t changed — but the prices sure have! Most condos cannot qualify for conforming Fannie/Freddie/FHA/VA-style loans right now, with the result that condominium prices are effectively in free-fall. You’ll have to pay all cash to buy one, and don’t even bother to pray for seller-supplied repairs. But the prices are unbelievable — and positive cash flow is an easy target to hit.

Here are 26 examples I cherry-picked out of the MLS system just now. These are all 2 or 3 bedroom units, all built or converted in 2001 or later, all with HOA fees of $250 a month or less. Figure rents in the range of $600 to $850, depending on the location and amenities. Best news: I stopped at $75,000. You can spend more, but you sure don’t have to.

Want to know more? Shoot me an email or phone me at 602-740-7531.

Here’s a map showing where these condos are located:

View Condomania in a larger map

And here are the properties:

5721 South 21st Pl, Phoenix, AZ 85040

List price: $74,900. 2 bedrooms, 2 baths. 1,041 square feet. Courtesy of: Campbell Realty Advisors. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1303 West Juniper Ave, #3322, Gilbert, AZ 85233

List price: $68,900. 2 bedrooms, 2 baths. 1,137 square feet. Courtesy of: Golden Touch Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1287 North Alma School Rd, #137, Chandler, AZ 85224

List price: $70,990. 2 bedrooms, 2 baths. 1,036 square feet. Courtesy of: United Brokers Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5717 South 21st Ter, Phoenix, AZ 85040

List price: $59,900. 2 bedrooms, 2 baths. 1,041 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

2950 West Louise Dr, #107, Phoenix, AZ 85027

List price: $62,900. 2 bedrooms, 2 baths. 966 square feet. Courtesy of: Arizona Residential Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

724 East Devonshire Ave, #101, Phoenix, AZ 85014

List price: $69,000. 2 bedrooms, 2 baths. 1,116 square feet. Courtesy of: Infill Realty Services. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

17625 North 7th St, #1057, Phoenix, AZ 85022

List price: $43,900. 2 bedrooms, 2 baths. 931 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

8940 West Olive Ave, #120, Peoria, AZ 85345

List price: $61,000. 2 bedrooms, 2 baths. 969 square feet. Courtesy of: American Realty Services. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

17625 North 7th St, #2069, Phoenix, AZ 85022

List price: $75,000. 2 bedrooms, 2 baths. 931 square feet. Courtesy of: John Hall & Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

455 South Mesa Dr, #140, Mesa, AZ 85210

List price: $49,900. 2 bedrooms, 2.5 baths. 1,031 square feet. Courtesy of: REO Brokers, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

2450 West Glenrosa Ave, #47, Phoenix, AZ 85015

List price: $54,900. 2 bedrooms, 2.5 baths. 1,326 square feet. Courtesy of: R.O.I. Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1920 East Bell Rd, #1082, Phoenix, AZ 85022

List price: $71,500. 2 bedrooms, 2.5 baths. 1,344 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1287 North Alma School Rd, #127, Chandler, AZ 85224

List price: $70,990. 2 bedrooms, 2 baths. 1,036 square feet. Courtesy of: United Brokers Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1409 North 81st Dr, Phoenix, AZ 85043

List price: $69,900. 2 bedrooms, 2 baths. 1,227 square feet. Courtesy of: Keene Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3250 West Greenway Rd, #111, Phoenix, AZ 85053

List price: $69,000. 2 bedrooms, 2.5 baths. 1,221 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

2929 North 37th St, #14, Phoenix, AZ 85018

List price: $65,900. 3 bedrooms, 2 baths. 1,232 square feet. Courtesy of: RE/MAX Alliance Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

8940 West Olive Ave, #3, Peoria, AZ 85345

List price: $48,900. 2 bedrooms, 2 baths. 871 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5761 South 21st Ter, Phoenix, AZ 85040

List price: $75,000. 2 bedrooms, 2 baths. 1,100 square feet. Courtesy of: RE/MAX Excalibur. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

2311 East Hartford Ave, #28, Phoenix, AZ 85022

List price: $49,000. 2 bedrooms, 1.5 baths. 1,008 square feet. Courtesy of: RE/MAX Excalibur. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5302 East Van Buren St, #2001, Phoenix, AZ 85008

List price: $72,900. 2 bedrooms, 2 baths. 847 square feet. Courtesy of: Renee Leach and Associates. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

8940 West Olive Ave, #102, Peoria, AZ 85345

List price: $57,900. 2 bedrooms, 2 baths. 1,022 square feet. Courtesy of: Gastineau Realty Group. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

3402 North 32nd St, #120, Phoenix, AZ 85018

List price: $43,900. 2 bedrooms, 2 baths. Courtesy of: Prestige Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

8800 North 107th Ave, #40, Peoria, AZ 85345

List price: $50,500. 2 bedrooms, 1 baths. 957 square feet. Courtesy of: AZCO Properties, LLC. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1920 East Bell Rd, #1161, Phoenix, AZ 85022

List price: $69,400. 2 bedrooms, 2.5 baths. 1,344 square feet. Courtesy of: R.O.I. Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

5302 East Van Buren St, #1040, Phoenix, AZ 85008

List price: $68,900. 2 bedrooms, 2 baths. 847 square feet. Courtesy of: RE/MAX Excalibur Realty. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

1920 East Bell Rd, #1112, Phoenix, AZ 85022

List price: $68,900. 2 bedrooms, 2.5 baths. 1,344 square feet. Courtesy of: RE/MAX Fine Properties. Google map. Schools: Elementary, Junior High, High School. Property tax record. MLS listing. Nearby homes for sale.

Take a look at this:

That’s a “QR code” that says: “Text HOUND9 to 88000.” If you snap a picture of it with a QR-code-reading client on your smart-phone, it should, in three steps or fewer, take you to a DriveBuy Technologies mobile web page for one of our short sale listings.

We’ve been using DriveBuy’s SMS text messaging technology to promote our listings for some time. Adding the QR code to the DriveBuy mix will make it that much easier for people driving by to find out all about your home.

If you appreciate good design, QR codes are plug ugly. But we’re going to start using them on our signs, commencing with our next listing. We often put the DriveBuy copy on a rider, so we’ll add the QR code there — on the order fo five inches square to make for an easy target.

We do everything we can think of to make our Phoenix, Scottsdale and Paradise Valley listings sell quickly and for top-dollar. Custom signs, full-blown single-property web sites, mobile web technologies — plus dozens of other marketing tactics. We simply do more for our sellers — and it shows in our results. To explore the innovation we will bring to the marketing plan for your home, drop me an email or phone me at 602-740-7531.

Phoenix handyman Mark Deermer and I have been prowling potential rental homes in the western suburbs of Phoenix. I’m looking for all of my usual stuff — all the factors that make the Metropolitan Phoenix rental homes we sell rent quickly and stay rented. And Mark is going through the homes to get a quick estimate of the cost to refurbish the homes, bringing them into rent-ready condition.

This is an easy world to live in right now — for buyers, at least. The quantity of available homes is rising, and the quality of those homes seems to be going up, too.

Here are six properties we’ve seen lately.

• 11564 West Harrison St, Avondale, AZ 85323
• 10510 West Roanoke Ave, Avondale, AZ 85392
• 12617 West Fairmount Ave, Avondale, AZ 85392
• 12637 West Cheery Lynn Rd, Avondale, AZ 85392
• 15553 West Durango St, Goodyear, AZ 85338
• 15527 West Mohave Cir, Goodyear, AZ 85338

This all about strategy: We start with homes that might work and that are not insanely overpriced. Working from a projected rent, we know what the maximum entry cost should be. Mark’s refurb cost is subtracted from that gross number, which yields the ideal purchase price. We make the offer on that basis. If we get the house, we get it. If not, we move on. But if we do get the property under contract, we know that it will be profitable from the first tenant.

Ready to make your move? Send me an email or phone me at 602-740-7531 and I’ll help you buy a Phoenix-area rental home like one of these.

My friend and colleague Al Lorenz, who sells real estate and develops real property in Lake Chelan Washington wrote and posted this Real Estate Declaration of Independence.

Al and I are in complete agreement about these principles, so I’m delighted to share them with you:

Real Estate Declaration of Independence

We, the people who buy and sell real estate, hold these truths to be obvious:

• We the people believe that information on real estate for sale should be readily accessible without surrendering our private information. We reject having to register on a web site in order to view listings in an area. We value our time and will contact a real estate professional when we are good and ready for their services.
• We the people reject all policies of the National Association of Realtors that are not in the best interest of the real estate buying and selling public. Limiting our access to information, restricting our ability to a free and open market through regulation and limiting our market choices are all examples of policies we reject that are designed to line Realtors pockets at the expense of the public.
• We the people reject “Dual Agency,” where a real estate agent has an inherent conflict of interest with his agency and fiduciary duties by attempting to represent both the buyer and seller in order to earn a larger commission on our transaction. If the agent is truly delivering value, both parties of a transaction have an equal right to that value without a conflict of interest and each party deserves their own agent in the transaction.
• We the people reject the practice of real estate agents trying to “Buy the Listing” by telling a potential seller an above market price in an attempt to secure a listing. This practice costs sellers time and money while their home sits on the market as the agent waits for the seller to cut the price to where it should have been to start.
• We the people reject the practice of real estate MLS systems that limit a home seller’s exposure to potential buyers in an attempt to control access to a market. A listing agent’s responsibility is to market a property to the best of their ability and limiting the exposure of our home costs us money.

We the people are independent in a country that still allows us to make market choices. We the people demand better service and will exercise our freedom of choice and only choose Real Estate Professionals who deliver better value.

In Arizona, a real estate licensee has a fiduciary duty to his client. That means that, when we decide to work together, I am obliged to put your interests ahead of all others, including my own. Too often, and much too deservedly, Realtors are perceived as being self-dealing, self-serving and self-absorbed. If you keep this Real Estate Declaration of Independence in mind, you’ll be better prepared to avoid that kind of agent.

I’ve been watching this house for months. I wanted to snag it for one of my investors when it was a short sale, but the bank foreclosed on it before I could get an offer in play.

I took pictures of the home when I was in it then. Since it was relisted as a lender-owned home, I’ve been back in to see how it’s holding up.

The home is the Lavender floorplan by Fulton Homes, three bedrooms and two baths in 1524 square feet. It’s a greatroom floorplan, so the common spaces are abundant. There is no space wasted on hallways, and the home feels open and bright everywhere.

Even better, it’s in Coldwater Springs, a subdivision I have loved since it was built. The Coldwater Springs Golf Course threads through the community, and the Collier School, grades K-8, is right in the middle of everything — a short bike trip from this home.

The home is listed at $87,500. Handyman Mark Deermer estimates that it will take around $8,000 to make the property rent-ready. Total entry cost would be $95,500. With anticipated rents of at least $950 a month, that puts this home at a Gross Rent Multiplier of 100 months, right where I want to be.

And that’s just one house. In the weeks since the tax-credit lapsed, inventories have come back strong. These kinds of houses — premium homes attractive to premium tenants — are being offered at breathtaking prices, with plenty of room for investors to show ample positive cash-flow. Meanwhile, lender Connie Moss can do investor loans at 5.75% or better with 25% down.

I talk to a lot of folks who say they want to invest in rental homes in Metropolitan Phoenix. Many follow through, but some people seem to sit on the sidelines, waiting for someone to pull them along. This I can’t do. I am very good at identifying properties that will rent profitably and stay rented. Mark Deermer can refurbish them so they are irresistible to tenants. But if you want to get in on a house like this, you need to assert yourself.

Shoot me an email or phone me at 602-740-7531 and I’ll help you line up a rental home like this one.

It’s tough out there, everybody knows that. Your house may not be worth even half what you paid for it, and you’re having trouble keeping up with the payments. It could be your situation is so dire as to boil down to two choices: Let the bank foreclose on you or try to do a short sale.

What’s a short sale? If you could sell your home for what it’s worth today, you would probably have to come “short” to the closing table: The amount of money you could bring back to your lender from the proceeds of the sale would be less than you owe.

Are banks willing to do this? Yes, in principle. The bank reasons that it can get more money for a home that is still being cared for, as compared to yet another vacant lender-owned home.

What about you? Is a short sale to your advantage? Here’s your bottom line in both cases: Zero dollars and zero cents. That’s how much you’ll receive when your house sells.

So why should you prefer a short sale to a foreclosure?

For one very simple thing, because it’s the more responsible thing to do. You can’t pay your mortgage, and that’s a tragic turn of events. But by helping the bank effect a short sale, you’re doing what you still can to honor your obligations.

Even more important, a successful short sale can be less damaging to your credit than a foreclosure. You’re going to take a hit on your credit rating, either way. But the worst consequences of a short sale could be over in two or three years, where a foreclosure may wreck your credit for five years — or even longer.

On balance, a short sale is probably the better idea. Here’s the next question: Does it make any difference to you which Realtor you hire to list your home for sale as a short sale?

Remember that net figure: Zero dollars and zero cents. Since you won’t be getting any money from the sale of your home what difference does it make to you which Realtor sells it?

As it turns out, it makes a lot of difference. For one thing, no short sale is secure until it is closed. There is always the threat that the bank will go ahead and foreclose on you. You need a Realtor who can put matters in motion quickly, so you can complete the short sale before the bank gets tired of waiting for its money.

There’s more. Many Realtors treat short sales like a red-headed step-child — a slap-dash listing effort focused more on adding to their listing inventory, rather than actively selling your home. But the faster your home sells, the more money it is likely to command — which will make your buyer’s offer that much more attractive to the bank.

So what will make your home sell more quickly?

The answer? Marketing.

Where you and your lender see a short sale, your buyer sees a home. And guess what? Your buyer is seeing a lot of really grungy homes. Dirty. Missing appliances. Crowded floor to ceiling with personal possessions. Even though you have no equity in the property, your marketing problem is no different than in a normal equity sale: How do you get buyers to prefer your home over all the others available on the market?

And this is why it matters which Realtor you choose to list your home as a short sale. Your net might be zero dollars and zero cents, but you still have a lot to lose. The faster your home sells, the more money it will command, and the more money your lender stands to get, the more likely they are to approve your short sale.

It’s that simple. Working with a better Realtor — better not just at the mechanics of short sales but also at the mechanics of marketing — will bring you better, faster, happier results.

This is not a joyous event in you life, that’s understood. But working with the right Realtor on your short sale will help you make the best of a bad situation.

Am I blowing my own horn? Oh, you bet! I have advanced designations in short sale negotiation and management, and I’ve developed an extensive praxis for successfully marketing homes. I’ll bring every bit of this expertise to bear in getting your home sold as quickly and as painlessly as possible.

What’s the cost to you? Zip. Nada. Nothing. We typically charge our sellers an up-front retainer from $1,500 to $2,500. But they’ll be seeing cash at the closing table, and, if you go ahead with a short sale, you will not. We’ll take our compensation from the proceeds of the sale at Close of Escrow, and we’ll pay the buyer’s broker as well. You have nothing to lose by choosing a better listing agent — and a lot to gain.

So let’s talk, shall we? Give me a call at 602-369-9275 or email me and we’ll get together to figure out the best short sale strategy for your home.

From the Arizona Republic:

Arizona’s job picture brightened considerably with an increase of 19,500 jobs in April, the largest number of new hires in the month of April since 2005, the Arizona Department of Commerce reported Thursday.

The state’s unemployment rate fell to 9.5 percent in April from 9.6 percent in March and remained below the national rate of 9.9 percent.

The overall number of non-farm jobs was still below the level a year earlier, but by only 1.6 percent. The over-the-year job losses have been shrinking steadily since August.

Many of the new hires were at leisure and hospitality businesses — which include hotels, resorts, restaurants and bars — and at retailers, temporary-service agencies and the U.S. Census Bureau, said Rick Van Sickle, a department analyst.

For the second month in a row, the leisure and hospitality sector had the highest gains. It added 5,000 jobs in April.

“There’s an indicator of some confidence,” Van Sickle said. “It looks like people are starting to spend discretionary money, at least last month.”

Unfortunately, hospitality businesses are the most vulnerable to travel boycotts announced by cities and groups objecting to Arizona’s new immigration law that takes effect July 29.

The law makes it a state crime to be in the country illegally. It states that an officer engaged in a lawful stop, detention or arrest shall, when practicable, ask about a person’s legal status when reasonable suspicion exists that the person is in the U.S. illegally.

Van Sickle said the department would not be able to accurately track the effects of the law because the job data it collects is not that detailed and the number of hospitality workers typically falls as hot weather approaches.

“There’s boycotts. There’s buycotts (efforts to get people to buy Arizona products to protest boycotts). There’s counter boycotts. There’s hot weather coming. There’s all those factors that are going to come into play,” he said.

KBHomes has an answer: Build cheaper homes. You can get a better home for $90,000, but you can’t get a newer one…

One of my rental home investors asks:

How are things looking one week past the expiration of the home buyer credit? Time to plan a trip?

My answer: I should track this number daily, instead of relying on memory. These numbers are approximate, but reflective of reality. This is from the BargainBot search many of my investors are subscribed to:

October 2008 — ~1,500 listings
October 2009 — ~350 listings — this was the first tax credit
January 2010 — ~650 listings — somewhat replenished
May 4, 2010 — ~420 listings — second round of tax credit
Today — 492 listings — replenishing

I’m watching particularly for houses I would want to buy for investors, since these are the ones that were picked over the most by tax credit shoppers.

It’s not my style to say, “No, don’t spend any money!” But it remains that you’ll do better if you wait for the inventory to replenish.

May 21? May 28? The big jump this week is not so much new listings but contracts that failed — usually because the contracted price was above the appraised value. We want for there to be more good houses than qualified buyers.

That’s where I’m at for now.

Handyman Mark Deermer and I have been planning for this for a while: We’re going to ride the Phoenix real estate market back up by fixing and flipping some of the (many, many) distressed homes we work with. We’ve fixed up quite a few homes for buy-and-hold investors, and this is the logical next step in our praxis.

As with buying rental homes, it’s a matter of property selection before anything else. The right home, in turn-key condition, will sell at a substantial premium over its distress-sale price. By buying the right MLS-listed and court-house-steps properties, we can net out significant returns after all expenses.

Buying right is everything, of course. If we overpay on the way in, we’ll have trouble extricating ourselves on the way out. We’re doing this now because the market in Greater Phoenix has reached a point where the math works fairly consistently. Houses that will flip profitably are still not common, but we’re to the point where they’re one among hundreds, rather than one among thousands.

The second step in the process is handling the refurbishing wisely and well — and quickly. Our goal is to get our properties back on the market within four days of taking possession of them. And we won’t be doing wish-and-a-promise fix-ups. Every house we do will have all new interior paint, all new flooring, all new window treatments and all new kitchen appliances. We want to give our buyers that model-home feeling — because they’ll pay more for homes that are white-glove clean and move-in ready.

And the third step is marketing, a process we get better at with every passing day. The homes we’ll be flipping will be completely refurbished, but they will also be staged for sale, with the kind of tasteful decorator touches that make people feel at home. We’ll build a marketing web site for each home, showing off what we’ve done with before and after pictures, and documenting the remodeling — both to defend the sales price and to assist the appraiser in seeing our justification for the sales price.

We’ll be pricing aggressively to the market, as well, thus to turn the money over more quickly. Our goal is to go from sold to sold in two months or less — with each investor’s money turning over six or more times a year.

Do you have stars in your eyes? The profit per home will not be huge. But because the money is turning over so rapidly, the annualized return-on-investment could be very substantial.

Why am I writing this? Because we need money to make this work. I’m going to be the marketing partner in the partnerships we’re putting together. Mark is going to be the work partner. What we need are finance partners.

The kind of houses we’re going to be working with are going to require around $100,000 in capital each. That will pay the acquisition costs plus the cost of refurbishing the home. Everything else — closing costs and unpaid liens — can be paid out of the resale proceeds at Close of Escrow. But each Limited Liability Corporation we put together is going to want $100,000 in seed capital. This can come from one or more finance partners, and the seed capital will be restored to the LLC after each house is sold, before any profits are disbursed.

Here’s the way to figure this: Even if the investor’s ROI is only 5% per flip, if we can turn that money over six times in a year, that’s a 30% annualized return. That’s good money by anyone’s standards — and the returns only stand to improve when the Phoenix real estate market finally gets back to an upward trajectory.

But what about down markets? God help us, it could happen. But this is why we’re working to sell the properties so quickly — and at aggressive prices — to get our money in and out before we can lose too much to declining values.

I’m not blowing smoke up anyone’s nose. We’ve been working on this problem for a year-and-a-half, all to make the numbers work. I’ll be documenting out projects here, so you can see what we’re up to.

Meanwhile, if you want to get in on this opportunity, speak up. We’re going to put together up to twenty of these partnerships, flipping as many as ten homes a month. This is a lot more aggressive than buy-and-hold investing — and a lot more risky, of course. But we’re offering the potential for truly astounding annualized returns. If you want to get involved in real estate on the supply side, here’s your chance.

That chart illustrates sales prices for the past 13 months, as reflected in BloodhoundRealty’s Market Basket of Homes. What we’re looking at are suburban stucco and tile tract homes, the houses that drive the fat middle of the bell curve in the Metropolitan Phoenix real estate market.

That line looks awful spiky doesn’t it? That’s just the drama of charting software. What you’re really seeing is a market that is essentially flat. Prices go up. Price come back down. A home that would have sold for $122,000 in March of 2009 will have sold in March of 2010 for — wait for it — $121,000.

That’s right. For the past year, the Arizona Republic and half the faculty at ASU has been bellowing that the market has turned. It has. Slightly downward. And now that the home buyer tax credit is about to expire, it seem plausible that the near term trend will be still further downward.

Prices will probably decline gradually, mind you, and investors have clearly thrown a floor under our market. I would be surprised to see dramatic drops in values, but the segment of the chart documenting events from August through December of 2009 illustrates the impact of the tax credit. Without it, I expect this chart to grow even flatter in the months ahead.

Means what? Jump. Interest rates are still low, and cash is still king. Inventories will grow — nudging prices downward — and the quality of the available homes is gradually getting better. If you have the means to buy a home in Phoenix now, this may be the perfect storm. If we’re at the bottom, we’re going to be here for a while. But if you can afford to wait out the market, you can buy a whole lot of home for your money.

I have a lot of investor clients, folks who want to buy rental homes in greater Phoenix — to buy and hold them as long-term investments. Early last fall and again late this spring I have advised many of them to sit tight, to wait the market out.

What are we waiting for?

The final lapsing of the first-time home-buyers’ tax credit. We can be quietly delighted for all the nice folks who were able to get into houses because of the tax credit. But it remains that those sweet people were driving up home prices, making it difficult for investors to latch onto better-quality rental homes.

All that changes this week. The tax credit lapses on April 30th, so we should start to see a significant increase in available properties. Still better, it will be easier to negotiate deals with sellers, and prices should be more attractive.

The first round of the tax credit, last summer and fall, had a much more profound impact on the real estate market. For the kind of stucco and tile suburban homes I like to buy for investors, prices last fall looked like this:

September 2009: +3.15%
October 2009: +2.14%
November 2009: +2.22%
December 2009: -8.03%

That’s a $10,371 drop in average sales prices from November to December. Demand from first-timers has been lighter in this second installment of the tax-credit, but inventories of the homes I’m most interested in for investors have declined by 20% from the start of the year. More significantly, it’s the choice homes that are being cherry-picked, the ones that need the least work to make them rent-ready.

All of which means that we are on the cusp of a perfect storm for real estate investors: Good homes at very attractive prices. Money is still every cheap, if you need a mortgage, and rents are holding firm. There is no appreciation in sight, of course, but positive cash flow is easy from the first tenant.

I’ve written a guide about how out-of-state investors can make good money investing in Phoenix-area rental homes. If you want to discuss this in detail, you can phone me – Greg Swann – at 602-740-7531 or shoot me an email.