April’s numbers are in, showing that supply increased, demand decreased, sales took a sharp drop, and prices weakened slightly. Here are the basics ARMLS (Multiple Listing Service) numbers for May 1, 2020 compared with May 1, 2019 for all areas & types:…
Last Monday, considering being in the midst of Covid 19, our Snapshot asked the question, “Should Buyer’s buy?” My summation read in part: “Each buyer is unique. Some buyers can prosper in these times. I think the most important factor a buyer…
It’s a question that’s being asked more regularly in real estate circles since the pandemic began. And I can save you some time right now, that if you’re looking for a quick definitive answer, you won’t find it in today’s snapshot. The…
As you can imagine, Real Estate has slowed in the Phoenix area along with most other industries. We first noticed it in the first weeks of March when the COVID-19 federal guidelines were released. It wasn’t until that Tuesday however, when our…
In light of the global pandemic, it’s tempting to prognosticate about the normal return of our Phoenix Metro residential real estate market, however, wisdom would say, “Mike, let your words be few!” So, for now, we’ll just report on the actual sales…
The early 80’s was a tough time to be in real estate. In conjunction with sky-high oil costs (Arab oil embargo) and 18% mortgage rates, Real Estate had nearly ground to a halt. This was true nationally, but especially in the recreational…
NEW BODEEN TEAM MEMBER! I want to personally apologize for our delay in the snap shot this week! We know that many, maybe most of you are probably hungry to learn how this COVID-19 business is impacting the world of real estate….
I’m old school. I love reading. I particularly enjoy reading a genuine leather bound or hard back book. I subscribe to the print edition of the Wall Street Journal. Confessedly, I also read a lot (too much?) online. So, a few days…
Mike, where do you see the real estate market heading? (AKA home price direction) In so many words, I’ve been asked this question so many times over 4+ decades in my industry. Until the dot-com bust or the recent great recession, that…
For the past decade, mortgage interest rates have averaged under 5% for the year. The two lowest years on record, according to Freddie Mac stats, are 2012 (3.66%) and 2016 (3.65%). Oh, hey, those were presidential election years. And in this 2020…