Forecasting the future for the Phoenix Metro residential real estate market is a piece of cake! It’s the accuracy part of it that’s dicey. I like Casey Stengel’s quote: “Never make predictions, especially about the future.” Realtor.com just came out with their…
Disclaimer: I’m not a huge fan of the Arizona Republic! Having stated that, there are two sections of the paper I skim for gems. One is the Sports Section, but admittedly, only when the local teams are doing well. Yes, I do…
A Crash of Values May Not be the Worst Thing That Could Happen As property values continue to rise to historic levels never before seen in Metro Phoenix, we have seen a number of articles arise from local and national pundits weighing…
Well, let’s just say it – Arizona, and Phoenix in particular, are extreme! Yes, we all know about our extreme summers, the radically high summer temps, but thankfully, radically low summer humidity, and heavenly in between. Our baseball team, the locally legendary…
Some signs we observe can help us determine the direction of the Phoenix Metro residential sales market. For example, in January 2008, only 8% of all sales closed “above” list price – a 20 year low. In June of 2021, 60% of…
If you’ve been a Mike’s Snapshot follower for a while, you’ve probably noticed that we’ve been tending to write more about the local rental market lately, especially this last year. There’s good reason for that. As the Phoenix rental market goes, so…
We want to highlight our latest project, and introduce our new company, Bodeen Designs, and what it can do for our clients. To put it simply, we now have some additional options for our clients in addition to the traditional listing. We…
We have a sort of mixed bag of news this week and a brief report about the iBuying giant Zillow getting out of the iBuying business and what that might mean for the market. But first, October’s numbers: CURRENT (Nov 1st) MARKET…
Nationally, there is a shortage of homes for sale and rent – and in Phoenix, the need is particularly acute! This comes as no surprise to our readership, but to hear it again recently from a local economist makes it is all…
A picture (or chart) is worth a thousand words! And the two Cromford charts we’re showing you this week prove that point. Both charts form bookends of a larger Phoenix Metro problem we’re facing today, which is housing affordability. Not too many…