26% $/SF Rental Rate Increase in Less Than 4 Years! We spent some time in recent issues looking at the residential real estate sales market prognosis for 2018 and now it’s time to focus on the very important rental market. Most of…
Five Reasons Why 2017 is almost history. For the Phoenix Metro area, it was, by most accounts, another consecutive, solid, and successful year for residential real estate. Can 2018 match 2017? Yes. And more! There are a number of “solid” reasons why…
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…
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…
Supply Down. Pending Sales Down. Sales Up. Values Up. Some interesting findings in our August report, though few surprises. The few surprise categories include the continuing trend of lower listing inventory, steady and healthy appreciation rates, and higher sales than one year…