October 2010 was the peak of the horrific mortgage meltdown leading to the worst real estate market in Phoenix Metro history. Foreclosures, where folks lost their homes and had to move out, averaged 164 PER DAY. In June of 2017, foreclosures are…
The Phoenix Metro residential real estate sales market continues strong. It may not be exciting, but it’s healthy! May 2017 Sales increased almost 12% from May of last year. Supply is still significantly lower than last year, but not quite as much…
This Memorial Day weekend I began sifting and sorting through decades of paper files with the goal of continuing to file everything (important) in the cloud, and recycling everything else. I was amazed at some of the stuff I had hung onto….
Nationally, when accounting for population growth, the pace of sales today reflects what economists consider a normal market like that of the early 2000s, when the pace of sales was just under 5 million homes a year. The pace of sales topped…
Phoenix Matches Nation’s Growth We knew what would happen when “it” happened, and now “it” is happening. And just what is the “it?” “It” is the millennial generation entering into the national (and local) real estate market in big numbers. And “it”…
Last week we looked at how Mike got started in his 41 year real estate career and this week we look at young son Jonathan’s humble real estate beginnings. You might think I had something to do with Jonathan’s desire to get…
I never gave it even one thought that my son Jonathan would follow me into the real estate business. Furthermore, truth be told, I never encouraged him to do so either. He slipped through the back door about 8 years ago, just…
Black Knight Financial Services recently released data which shows that Arizona mortgage delinquency rates are among the lowest in the country. For the month of February 2017, Arizona has 3.1% of its first position home loans in some form of delinquency (from…
As you can see by our historic median sales chart, the Phoenix Metro residential real estate market goes up and it goes down. In fact it has gone way up and it has gone way down. Just like most of the rest…
Phoenix Metro April Sales Report Sales are up and listings are down which remains a stickler for many buyers. Listings are down 11.9% vs last year while sales have increased 10.7%. What’s amazing to us is that we’re not seeing stronger growth…