*Cromford Market Index Values Showing Mostly All Green* The annual sales rate for the Phoenix Metro residential market (as we all know) has been in the basement for the past three years. The sales market had started its decline in July of…
Historic Highs and Lows For over 25 years in the Phoenix Metro residential real estate market there have been highs and lows, peaks and valleys, but the largest gain and biggest drop in a shorter span of time occurred between June of…
Examining stats from the 1st of December shows healthy improvement in our market. But healthier for whom? Well, for both buyer and seller, if that’s possible. Right now as the data shows, our listings are 14% higher than one year ago, which…
Over the past two weeks we’ve been comparing, from a value standpoint, single family detached homes (SFD) and Condo/Townhomes. This is the week to make the final comparisons and then I end this discussion by giving the reader my take about how…
Some buyers who can afford to buy a Single Family Detached (SFD) home, ask the question, should I be looking at condos or townhomes as well as SFD (Single Family Detached). And if so, which is the best investment in the Phoenix…
*What’s the Best Investment?* We’re often asked if Condos and Townhouses (condos) are as good a buy as Single-Family Detached (SFD) residences. It’s an interesting question, and until one does the math it’s not easy to come up with a right answer…
Nationally, and in the Phoenix Metro communities many first time home buyers are throwing in their buying towel, being unable to buy a home where they want or need it to be, or just flat frustrated at unaffordability, per the Business Insider….
Yes, But it Depends on Your Definition of Rising “Lies, damned lies, and statistics” is quoted in Mark Twain’s biography, which he attributes the phrase to Benjamin Disraeli. Whoever, it always draws a chuckle, because most folks know it rings of truth….
Last Friday, mortgage rates dropped to 6.19% for the 30-year fixed rate. The 15-year dropped to 5.76%. These are rates not seen for over a year. Definitely very good news for buyers. And mortgage applications reacted strongly – just one problem –…
And What’s After That? It is trust to say demand IS improving. It is also true to say it is improving very slowly, and it is still what we would call low overall. Of course ours is a city made of many…