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…
Prices are up!
We have waited since 2006 to be able to write that headline. Yes there have been little spurts of improvement during those years (remember the tax credit of 2009?) but nothing that was headline inducing or that in hindsight really signaled much of anything other than tax breaks do work. But this market is different…
Sellers Rejoice!
We’ve been waiting quite a few years to write that headline. Is it really time for a seller party? Well, mostly yes. Since 2006 the market has been dropping in value. Five years of sliding values has been demoralizing to both sellers and frankly, most agents. Foreclosures soared, short sales have become the new “normal’…
Trend Alert
Last month we examined the overall improving market in some detail as we believe a primary function of our “job†is to keep both ourselves and our clients informed on market trends and shifts. Trends are rarely formed in a month and so monthly news can often be repetitive more than informative. With that risk…
Should You Buy A Short Sale Listing?
It depends. There are definite advantages to buying a short sale listing. There are also definite disadvantages. And there are some possible additional disadvantages – depending on which agent you have. We will take these up – one at a time. Advantages: Price and Condition. If the transaction is handled correctly, you can usually get…
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…
Foreclosures Surge?
This was just now posted on AzCentral with the headline, "Foreclosures surged in July. This is what passes for "reporting" by most media about the real estate market. June foreclosures were 5,149. July’s numbers (per the article) were 5,316. A difference of 167 foreclosures or 3.24%. And that is being called a "surge". I wonder…
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…