Mike Bodeen Could the Iranian War Do the Same? Last week I wrote about how the Iranian war will likely raise mortgage rates from a recent drop of just under 6% due to the anticipation that higher oil prices and less global supply will…
I had settled in my own mind this weekend about our current Phoenix Metro residential real estate market and the effect war with Iran will affect it. If a middle east war gives way to higher oil prices (and it’s likely), that…
Home Listings Increase; Advantage Buyers Coming out of President’s weekend, we’re looking at mortgage rates we haven’t seen in almost 3 years. The 30-year fixed rate has dropped to 6.04%. The 30-year FHA rate and the 15-year conventional have settled in at…
Northeast Valley with Highest Prices Happy Post Super Bowl day! If your team won, congrats, and if not, well, you get to join many of us Cardinal fans who lost hope last year, and really didn’t give a rip what the outcome…
Last year, in our projection of the 2025 Phoenix Metro residential real estate market, we wrote that the market could go in three different directions – all based on what was to happen with inflation. Without going too deep, we hit the…
*and Foreclosures Increasing* We’ve shared in the past about the trillions of dollars that are in process of being passed down from the Baby Boomer and Silent generations to the millennials, Gen Xers, etc., known as *The Great Wealth Transfer*. A recent…
*Can they drop further?* I was about to write my annual New Year’s real estate projections today which include a look back to see how we got things right or not last year, and a look ahead as to what might be…
*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…