Housing Bubble 2.0?
As we reported in last month’s issue, the market shifted (again) and January began with the lowest supply of listings coming on to the market. This understandably has been putting pressure on pricing as supply is not abundant. This has prompted a new rumor (I guess the persistent “shadow inventory†rumor eventually had to be…
2013 is Here!
Now that the holiday haze has cleared (and we hope you had a very happy season) our thoughts turn to the brand new year. Since 2007, it has seemed that the new year rarely promised any news better than the year before. Real estate became the slow march through a mine field where the best…
This Last Year
As the year comes to a close, some interesting facts have appeared. First, we now have had one solid year of positive appreciation in the monthly average sales price per square foot on homes sold through MLS. It turned negative in August of 2010 and then turned positive again on November 30th 2011 which continued…
2012 Begins its Wrap Up
Now that we are in the waning days of 2012, it is time once again to review where we are and prepare for what will no doubt be another interesting year in 2013. After a rather sluggish summer, the market regained some velocity in the fourth quarter. Supply continues to build, although it is still…
The Housing Market Marches On
Occasionally we write articles that don’t focus solely upon current real estate market conditions. This is not one of those times. The real estate market in the valley has been providing headlines since late 2004. Until the market fully returns to “normal†(it has been so long since a normal market we wonder if we…
3rd Quarter Housing Report
The rapid shifts of this year’s market has certainly kept the real estate community on its toes. As we enter the final quarter for the year the market still continues on its jerky recovery path. The adage that local markets shift quickly and national markets slowly, has never seemed more true than in 2012. We…
Can I buy after saying goodbye to my home?
A select group of buyers are waiting longer than necessary to re-enter the housing market after a short sale or foreclosure. This is understandable as most loan programs require a minimum wait of 3 years after a foreclosure and some up to 5 years! The one exception has been if the borrower did a short…
Easing Supply
It may be a bit early to call, but the greatly constrained supply of homes in the valley has started to ease a bit. For those who follow the actual real estate trends in the valley (not the usually misstated national news) this year began with supply dropping precipitously. The effect of the constrained supply…
Twin Rumors
The two biggest and most tenacious rumors in the valley’s real estate market appear to be: foreclosures are rising and there is a “shadow inventory†of foreclosed homes the banks are waiting to release. These are false – despite all the news reports that tend to support such nonsense. Foreclosures are down significantly in the…
Why Sell Now? Why Not Wait?
“The market will never come backâ€. How many times have sellers told us that in the last five years? The problem with that sentiment is that it’s untrue. All financial cycles are just that – a cycle.  But for the last five years homeowners were justifiably gloomy about the great American dream. It is very…