When I began my real estate career in the mid 70’s, brevity and simplicity was the rule. Sellers were king! Those were the days of one-page real estate purchase contracts with lots of open lines for agents to write the deal down…
September’s Stats are in. These unpleasant seller numbers are music to the ears of buyers. Unfortunately for buyers, however, mortgage rates are now in the mid 7% range and before the year is out, we may be looking at rates in the…
The number of active residential listings in “The Valley,” which we could define mostly as the Phoenix Metro communities, has surpassed 20,000 for the first time since 2017. This number is nearing, but still below our more long term average of about…
Our Phoenix-Metro residential listing inventory shot up this year from mid-April to mid-August, then its ascent began to slow (see chart below). Part of that reason is that sellers are choosing not to put their home on the market due to slumping…
Today’s Phoenix Business Journal published an article with a truly unbelievable headline proclaiming that the median rent in Phoenix grew by nearly 46% this past year. The article further reported that the Phoenix area’s median rent was $2350 in August, and that…
My wife and I recently returned from a family getaway to the west side of Wyoming (Afton), having spent nearly a week on 3000+ acres of pristine ranch property, 4 wheeling, wildlife site-seeing, and eating waaaay too much great food. It was…
The market is in an unpredictable place. We don’t know what’s around the corner, and even the experts that we follow are afraid to predict with any kind of confidence. The truth is right now we have good news and bad news,…
Last week we reported the emergence of a balanced market in our Phoenix Metro communities. We also cautioned that it could be short lived as more communities were soon to enter the buyer’s market realm. This is happening. According to the most…
In a perfect world, which is anything but, a local real estate market would be a balance of buyer and seller supply and demand, with reasonable annual appreciation. The Phoenix Metro communities had a consistent six-year run of just such a market…
No one can deny that we have now seen price corrections in the Phoenix metro market. On the street level I myself have seen weaker demand affect our listings. We have three different listings which we’ve now got under contract, that I…