Low Inventory Continues to Haunt Local Homebuyers USA Today had an article yesterday describing why it’s so hard to find a house to buy – as in just slightly easier than finding the proverbial needle in a haystack. It was interesting to…
We’ve been here before. We still sound like we’re “crying wolf!” ‘Mike, why would you be talking about higher mortgage rates again? It’s been so long since we’ve been above the 3.5% to 4.5% range, why do you think this will change?”…
And Other Ruminations One of the great benefits of being an active real estate professional in the Phoenix Metro residential real estate market is being able to have access to the greatest real estate number crunching guru in the country, Mike Orr….
Which Appreciates More? I’m fairly often asked by folks, with reference to value, “Which is better to buy; a single family detached residence or a condo/townhouse?” For most of my 40 years in the real estate industry, the standard answer was, “Well…
Two weeks ago we talked about the importance of home buyers having a quality home inspection. This is especially true because of Arizona’s recently updated purchase agreement forms. These amended forms make no requirement of a seller to perform any repairs to…
In last week’s blog, I stated the following: Now, the buyer is buying the home subject to their accepting the condition of the property, which makes the Buyer Due Diligence period crucial. The buyer has 10 Days within which to perform all…
Now More Than Ever, a Good Home Inspection is Crucial A few months back, the Arizona Association of Realtors in conjunction with a cadre of real estate, legal, and title officials changed language in our purchase contracts deleting what was known as…
I have shown 35 homes on a weekend and 19 in one day. And that one day was 112 degrees. This is not a nice desire of the buyer. It’s mandatory from their vantage point. Most often they are being transferred /…
Supply Down. Pending Sales Down. Sales Up. Values Up. Some interesting findings in our August report, though few surprises. The few surprise categories include the continuing trend of lower listing inventory, steady and healthy appreciation rates, and higher sales than one year…
My family has successfully invested in multi-residential properties in the Phoenix area over the years and we’re in process of doing so again. My only regret is that we didn’t buy more before. What types of multi-residential am I speaking of? Well,…