Mike Bodeen And yet, Prices are Rising! This is Not Good! A very good friend of mine and my very first client in Arizona back in 1995, Mike York, sent me this NY Times article recently. Mike figured I had already seen it –…
Last week we began to address the news which is real news – the lawsuit settlement known as Sitzer-Burnett vs NAR (National Association of Realtors) and various real estate companies. I’ve again posted the WSJ article here. NAR settled this lawsuit for…
The big business news of the day, week, month or year is the National Association of Realtor’s (NAR) lawsuit settlement regarding our world of getting paid, aka commissions. Read here! I’ve been following the original lawsuit of Sitzer-Burnett vs NAR and various…
Listed below are Maricopa County’s February’s sales numbers for both resales and new homes. These numbers are mildly interesting, sort of going against the grain of our conventional thinking of supply and demand. But then again, when has a Phoenix market ever…
Two years ago, we were in a rabid seller’s market. Home prices had gone through the roof and were at a monthly median sales price of $433,500. That was up from $339,000 in February of 2021 and up from $290,000 in 2020…
7% Mortgage Rates No Help but Good Loans Available in 6% Range Ultimately, the acid test of where any given real estate market is at currently, may reside in the number displayed on the chart below: “Listings Under Contract.” This week’s Listings…
Market Will Remain Sluggish Without Improvement In a recent Snapshot, we wrote that 7% mortgage rates were the line in the sand where buyers move forward or hang back. At the time, rates were around 6.6% and buyers were grabbing their helmets…
First of all, let’s look at January’s sales numbers to see if we can gain some insight as to the direction of our market, since that seems to be the number one question most asked Jonathan and I by friends, family, and…
…Looong time passing? Ok, some of you, admit it, you started to sing the 60’s epic song as soon as you saw the title, right? Here’s the Kingston Trio video version. Kleenex, please. Onward. There are estimates of 270,000 housing units (Arizona…
Supply and Demand Increase The Phoenix Metro residential real estate market began the new year in balanced territory. It didn’t take long for the Cromford Market Index (CMI) to rise into a seller’s market – increasing 12.4%. The news was not all…