As our readers are aware, the Bodeen Team has been sharing for awhile about a housing shortage that may be more chronic than anyone wants to believe. We’ve been exhorting prospective first-time buyers to get into the game even though we’ve passed…
It’s not wise to take just one month’s data point and put too much stock in it, but this last month’s average lease price per square foot (PSF) had the largest one-month gain in over 20 years and THAT caught my attention….
I’ve seen this film played out a few times before in my 45+ year residential real estate career. With every major change in the market and/or real estate technology shift, a market exodus of agents would happen. The oldsters would say something…
25,000 homes for sale in the Phoenix Metro is the historical norm. We have to be honest though, there’s not much about our residential real estate market that’s been normal. In the Great Recession, during the fall of 2007, there were close…
or, “Bye-bye, Miss American Pie?” Many sideline home buyers here in the Phoenix Metro communities and in many locales across the country are waiting for either mortgage rates to drop to their perceived ideal rate, or for home prices to drop, or…
But There is a Buyer Silver Lining First let’s look at the current home resale market. Home prices continue to rise, and it’s getting worse for buyers, however there is a silver lining for buyers which I’ll address shortly. The June 2023…
Last Monday we wrote about a “Reverse Crash” that could be (is) heading our way. A normal crash, a plummeting of values, can be seen on the chart below from June 2007 to June 2009, when prices crested at $258,000 then dropped…
If So, You Heard it Hear First You gotta admit, today’s Snapshot title is pretty provocative, eh? For those businesspeople who utilize CRM’s such as Constant Contact, each send-out report is analyzed for the percentage of “opens” it gets. Most get less…
For many years now, Jonathan and I have written weekly about our local real estate market, providing our clients and friends with what we feel to be valuable and timely local information about our amazing residential real estate market. Good times and…
Chuck, a friend and client of mine in his early 60’s had never owned a home in his life. He had rented a room from a mutual friend of ours in Tempe for almost 20 years. Last year, as mortgage rates began…