August Market Update
The Balancing Act The greater Phoenix market continues to shift to rebalance. The emotion of the market has shifted from greed to fear – which in our opinion has been the driving force behind the market’s unusually fast shift. But not all areas and price points are moving in lock step. The Cromford Report reports…
Good bye seller market. Balanced market is that you?
News has spread about the shifting market – largely driven by spiraling interest rates suppressing demand. That was a wakeup call to sellers who began rushing to place homes on the market. While the shift in the market was not unexpected, the velocity of the change was. We have seen a 220% increase in supply…
The Market Dramatic Shift
“Only when the tide goes out do we discover who’s been swimming naked” – Warren Buffet It is a sobering time for the housing market. The last two years has been like an unending drunken party. Home Buyers enjoyed record low interest rates making home ownership more affordable, despite rising home prices, than the equivalent…
June Market Update
Market Shift Confirmed Enough time has lapsed that it seems fairly certain the peak of the market was reached in March. Since then, one market indicator after another have been tipping – confirming a rather dramatic market shift is underway. The number of properties for sale is up (more than double since March), pending sales…
Customer Always Write
How to Decide Between Buying Your Starter Home or Your Forever Home
If you’re ready to buy your first house, it may be difficult to choose between a starter home or your forever home. Here are some ideas to think about when you’re reviewing your options. Buying and Insuring a Property When you buy a home, you also need insurance. Homeowners insurance only covers the structure of…
May 2022
Dramatic Market Shift We have been sounding the alarm bells for months that the market was shifting – even if no one was feeling the impact. In the last few weeks, the numbers are confirming a dramatic shift. Here are the facts – rather than clickbait headlines. The alarming news Overall the supply of active…
The Market Signals a Shift
“The bad news is nothing lasts forever. The good news is nothing lasts forever.” ― J. Cole In our last article, we speculated that the market may have peaked. More and more signals of a shifting market seem to reaffirm our suspicions. But, as we try to remind both buyers and sellers, the real estate…
April Market 2022
Market signaling a shift The early warning signs of a shifting market continue to appear. But, as we try to remind both buyers and sellers, the real estate is not the stock market. Housing moves slowly. Shifts in demand are quicker than shifts in housing supply. So while the scarcity in supply has been the…
The Connection Between the Rental Market and the Resale Market
Most sellers are not aware that the rental market and the resale market are intertwined. When demand for rentals are high, rental rates rise. When it is more expensive to lease than to buy, first time homeowners buy. That spawns a chain of buying – allowing the seller of that first time home buyer to…