The early 80’s was a tough time to be in real estate. In conjunction with sky-high oil costs (Arab oil embargo) and 18% mortgage rates, Real Estate had nearly ground to a halt. This was true nationally, but especially in the recreational…
NEW BODEEN TEAM MEMBER! I want to personally apologize for our delay in the snap shot this week! We know that many, maybe most of you are probably hungry to learn how this COVID-19 business is impacting the world of real estate….
I’m old school. I love reading. I particularly enjoy reading a genuine leather bound or hard back book. I subscribe to the print edition of the Wall Street Journal. Confessedly, I also read a lot (too much?) online. So, a few days…
Mike, where do you see the real estate market heading? (AKA home price direction) In so many words, I’ve been asked this question so many times over 4+ decades in my industry. Until the dot-com bust or the recent great recession, that…
For the past decade, mortgage interest rates have averaged under 5% for the year. The two lowest years on record, according to Freddie Mac stats, are 2012 (3.66%) and 2016 (3.65%). Oh, hey, those were presidential election years. And in this 2020…
Californians may laugh (or cry) that the Phoenix/Scottsdale Metro high end market is considered to be over $600,000 when you literally “might” be able to buy a converted 1 car garage in SF for a million. Phoenix metro has, or is near,…
Personal income is a large determiner for future home appreciation. In the Phoenix area, most of the last 25 years had stagnant wage increases and therefore consistent but modest home appreciation, aside from the rise and fall of the local and national…
Our market continues to escalate for sellers and degenerate for buyers. Active listings are down 35% from one year ago and 1.4% from last month. Now, 1.4% may seem small, but not when this is the time of year for increasing listing…
We’ve been reporting that it’s a seller’s market for a number of years now. What that ultimately means is that the ratio of supply and demand weighs heavily in favor of sellers. Some might infer this means demand is high and supply…
January 1st of each year, there is a major drop in the number of active listings in the Phoenix metro market, because many listings’ expiration dates were tied to the end of the previous year. This year was no different. Historically, January…