Two months ago, we listed a home in North Scottsdale. A beautiful home. Though it was ten years old, it had been impeccably cared for. The comparable sales in the neighborhood showed the value to be in the $625,000.00 range. We listed…
Active Listings: 18,422 versus 20,928 last year – down 12.0% – and down 1.2% from 18,646 last month Pending Listings: 5,579 versus 5,782 last year – down 3.5% – and down 1.2% from 5,646 last month Under Contract Listings: 9,176 vs 9,368…
And other changes Property Tax Deductions: This deduction is remaining in place up to a threshold of $10,000 in annual property taxes. Because we are blessed to live in a state with relatively low property taxes, most of us will never go…
Periodically, we provide you with Michael Orr’s Cromford Report Analysis of annual appreciation rates. This is based on a city’s price per square Foot (psf) over the previous year. Forty-one cities are included in the table below. There are some interesting takeaways…
The Phoenix Metro $1,000,000 Plus Market So, what’s happening with the high side of the Phoenix Metro residential real estate market, which we’re calling the Million Dollar plus market? Has this market done as well as the other price ranges since 2011…
World’s 2nd Wealthiest Man Invests $80 Million West of Phoenix Bill Gates could have bought 20,000 acres of land anywhere in the world. He chose Phoenix, Arizona. His investment arm, Mt. Lemmon Holdings, recently bought a controlling interest in an area 45…
Low Inventory Continues to Haunt Local Homebuyers USA Today had an article yesterday describing why it’s so hard to find a house to buy – as in just slightly easier than finding the proverbial needle in a haystack. It was interesting to…
We’ve been here before. We still sound like we’re “crying wolf!” ‘Mike, why would you be talking about higher mortgage rates again? It’s been so long since we’ve been above the 3.5% to 4.5% range, why do you think this will change?”…
And Other Ruminations One of the great benefits of being an active real estate professional in the Phoenix Metro residential real estate market is being able to have access to the greatest real estate number crunching guru in the country, Mike Orr….
Which Appreciates More? I’m fairly often asked by folks, with reference to value, “Which is better to buy; a single family detached residence or a condo/townhouse?” For most of my 40 years in the real estate industry, the standard answer was, “Well…