Mid-year Report
As we hit the mid-way point for 2011 the trend that began as a trickle in the beginning of the year seems to be established. The cliff note version is as follows: • Supply continues to decline and demand remains at a high level almost everywhere. • Having hit bottom in January, average price per…
Foreclosure Frenzy
Prior to 2007, home foreclosures played little to no role in the local real estate market. In fact only agents of our advanced years recalled the late 80’s, when the Savings and Loans went under and the resulting foreclosures flooded the market. History has a way of repeating itself and so it was in August…
Let’s Actually LOOK at Our Market
Any statistic is only valuable if it has been properly evaluated. A tremendous amount of “information†gets printed and repeated. Much of it is false or just plain silly. Various economists make predictions about “the recovery†of the real estate market. What is the definition of “the recoveryâ€? What exactly would one see if it…
Market Trends
It is with some fascination that we continue to watch the local real estate market as it continues its predictable pattern for unpredictability. Forecasting has been largely abandoned, replaced by tracking the immediate history. So where do we stand today (for those who simply want us to bottom line the market conditions, skip to the…
Milestones Charter School is holding their 2nd Annual Holiday Craft Fair & Bazaar
Phoenix: On Saturday, November 6th, Milestones Charter School is holding their 2nd Annual Holiday Craft Fair & Bazaar, while their neighbor, New Vision Center for Spiritual Living is holding their Annual Pet Blessing and Adoption Fair. The Bazaar will be held from 9:00 am to 1:00 pm and will feature dozens of vendors offering unique…
Short Sales vs. Bank Owned?
My, what a difference a year makes. In late 2008 lenders, as well as industry giants Fannie Mae and Freddie Mac dominated both the active listings and sales statistics with their foreclosure inventory. Rumors abounded about an additional looming “shadow inventory†of foreclosures which would further destroy our already decimated marketplace. The oncoming “foreclosure tsunami 
Market Stats Update
For the past five or six years (very much unlike my first 20 – 25 years in the real estate business) the price of Phoenix residential real estate has been front page news and sometimes even national news. What you will see here aren’t the glaring headlines – that all sound so much better than…
How’s The Market? An Interesting Update
I am often asked the question, “How’s the market?” by home sellers, home buyers and various local and national reporters. Answers like, “Good” or “Not very good” – which are the type of sound bite answers TV and radio interviewers seem to thrive on – don’t really honestly answer the question. Our market varies by…
Some Very Interesting Stats
Some very interesting stat comparisons courtesy of Mike Orr at the Cromford Report. Next you can see the Average Annual Price Per Square Foot – based on area: And finally a "market snapshot" that illustrates some interesting comparisons.
2008: What Really Happened to Phoenix Real Estate?
Let me start this post by publicly acknowledging and thanking Jim Sexton, Designated Broker for John Hall & Associates, for his brilliant research (which you are about to see). I am going to comment on and link to several charts. In some cases I will show a small version of the chart in this post…