The Joys of Working with Guys Like Chuck!
Chuck, a friend and client of mine in his early 60’s had never owned a home in his life. He had rented a room from a mutual friend of ours in Tempe for almost 20 years. Last year, as mortgage rates began…
Year: 2023
Are Prices Coming Down?
Short Answer: Don’t Hold Your Breath Much ado has been made about the lack of buyer demand. This is not nothing. Buyer demand is certainly below the normal average! There are two reasons for this, and you’ve heard at least one of…
Are Phoenix Area Prices Going to Come Down?
Much ado has been made about the lack of buyer demand. This is not nothing. Buyer demand is certainly below the normal average! There are two reasons for this, and you’ve heard at least one of them: 1. High mortgage interest rates….
Sales Activity Continues Upward
5 Months Improving Conditions for Sellers The unique thing about the Cromford Market Index Chart (below) is that it is a “predictive” tool that we use to give the earliest indication of a change in the market direction. On the first of…
Market Maintains Upward Momentum
With two exceptions, our local market is in “full-on recovery mode – a Seller’s market. In data we’ve obtained from the Cromford Report, virtually every residential sales category comparing to last month has been in favor of Sellers. For example: Compared to…
THE MARKET’S TRENDING NORTH AGAIN CHECK OUT YOUR CITY’S ONE YEAR VALUE JUMP!
The amazing Cromford Report, which is our chief supplier of residential real estate data in every possible category, and more, is also my chief inspiration for many of my snapshot articles. And I’ve said it before, Cromford’s CEO, Michael Orr, many years…
One Hand Favors Buyers – One Hand Favors Sellers!
For buyer’s sake, we’ve been hoping that the supply of more homes coming on the market would increase this Spring. This is not happening. In fact, the opposite – we’re losing more inventory. The other major hope that could help buyers would…
Phoenix Metro Real Estate Market Continues Upward Trend for Sellers
Back in 2014, we saw that the active amount of listings on the market was about 25,000 and the number of days on the market was 117. 20,000 to 30,000 homes (SFD, townhomes, condos, mobile homes) on the market is about average,…
Maricopa County Rises to #1 in 2022 Population Growth
Once again, Maricopa County is #1 in net population growth in the nation, adding 57,000 (figures rounded) residents in 2022, per figures recently released by the U.S. Census Bureau. This is a 1.3% population increase over 2021. Domestic net migration (births, death,…
Market Showing Strength – But for Whom?
Is the Phoenix Metro residential real estate market strong or weak? Spoiler alert. An argument can be made for both, which depends on whether you’re buying or selling. Let’s see how this can be. First, for buyers, the Phoenix Metro market fell…