Major Bank Survey Alarming for Buyers and Sellers When I began my real estate career in the summer of 1976, (200th Birthday of our country) the 30-year mortgage rate hovered around 9%. Because my market was a second home community (Donner Lake,…
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…
Greetings and Happy New Year’s Friends! With apologies to J.R.R. Tolkien from his classic “The Lord of the Rings,” this 2025 opening title seems appropriate because the 2025 state of our residential real estate market will hinge on one thing, “inflation.” And…
Good for Homeowners. Bad for Renters. But what’s New? Last week we looked at “The Great Wealth Transfer” already beginning that will see 84 Trillion (that’s illion with a “T”) transfer to Boomers and younger generations over the next 20 years (aka…
End of Week Shows Positive Mortgage Rate Movement Before we look at current market trends, let’s catch up with November’s sales information as of December 1, 2024 compared with December 1, 2023 for all areas & types: Active Listings: 21,593 vs 15,981…
As We Boomers Age, There’s Much to Consider We’ve written much About first time homebuyers and the great struggles for them to be able to break into the housing scene. This week, I ran across a couple of interesting articles about the…
May it Become the Norm – even the Bottom? In the late spring of 2023, my wife and I decided to bite the bullet and help our daughter get into a home of her own – along with our granddaughters, their two…
The Republican victory last Tuesday saw a momentous stock market skyrocket the next day. It also jacked the 10-year bond by 14 basis points, which was followed by a 9 basis-point rise in the average 30 year-fixed-rate mortgage which settled in near…
September Market Numbers and Rate Reversal Well, October has arrived, but it’s still acting like August. At least the early mornings are wonderful; emphasis on “early.” That’s a segue of sorts to our current local real estate market conditions – about the…
I briefly mentioned Presidential politics last week, and then I noticed a few days ago where Michael Orr of the Cromford Report weighed in regarding whether or not a presidential election would make any “significant” difference for the housing market? I quote…