Mike Bodeen It’s always dicey to prognosticate. But more and more Jonathan and I are being asked that question from friends and clients. Naturally we want to be upbeat, yet at the same time we want to tell what we believe to be true….
Pending Foreclosures Creeping Up The good news for buyers keeps getting better! Mortgage rates have remained under 7% for several weeks now, while listings (choices) continue to increase. How much have listings increased? This week’s chart shows active listings (not under contract)…
If You Need to Sell, It’s No Time To Follow the Market! **Happy St. Patrick’s Day!** I love, love, love corned beef and cabbage. Unfortunately, it’s sodium level limits my enjoyment. Being half Irish, I might have to settle for a Guiness…
Builders and Renters Facing Challenges The Phoenix Metro buyer’s market trend continues dropping deeper. Active (Unsold) listings have increased from last month (6.7%) and from last year (44%). Under Contract listings are basically unchanged from one year ago, but are up 14%…
Listings Highest in 10 Years! Pending Sales and Mortgage Rates Drop The news this week bodes well for buyers – the best combination of news that I can recall for a long time, which of course means not-so-good news for sellers. Our…
Our residential rental real estate market, both nationally and locally has been stationary over the past 3 1/2 years. In Phoenix metro, we’ve been hanging out at around $1.35 per Square Foot (PSF). Likewise, the median rental price during this time has…
Listings Continue Increasing I always enjoy hearing from our readers. It seems like there’s been a pick-up lately of folks reaching out with feedback to our Snap articles. I love that. Thank you. Before we get too far into the month, let’s…
Recent Decisions Could Spur Rate Increases Last week we discussed why there’s a very real possibility that mortgage rates may not drop down in the foreseeable future, questioning the direction of inflation that may have been exacerbated by Saturday’s origination of tariffs…
And hence, Keep Mortgage Rates High As if inflation needed any more fuel to add to its fire, recent/current fires in SoCal, and hurricane devastation in multiple Southeastern states will place an unprecedented demand for building supplies and services everywhere. Current estimates…
Also: State Farm is Pretty Unpopular Right Now! Florida and Arizona! Sunshine states. Retirement havens. Florida has water – lots of it, and unbearably humid. Arizona has brutally dry heat in summer. During the pandemic, home prices soared in Florida and coupled…