Hope for Home Buyers in 2022?
A Mixed Start to a New Year Happy New Year Everyone! Here we go!! We start our first issue of 2022, with the main question: Is there hope for home buyers in 2022 or is it more of the same sad slumping…
Mike Bodeen
Phoenix Metro Market Projections For 2022
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…
Is Rent Control a Possibility in Arizona?
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…
Will Foreclosures Become An Issue in 2022?
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…
We are Extreme. Especially in Real Estate!
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…
Is the Market Trending Down? Yes, but…
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…
How the Rental Market Affects Residential Sales
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…
Which Way is the Market Moving?
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…
Phoenix Short of 40,000 Needed Residences!
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 Dual Disaster for Phoenix Metro Real Estate?
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…