The obstinate 7% mortgage rate made a dramatic two day drop at the end of last week – such a drop to a level not seen since February. On Friday, the 30-year fixed rate mortgage, as reported by Mortgage News Daily on…
It often occurs that different parts of our fair Phoenix metro area behave very differently from one another. One such phenomenon we have now is the case of two very different market conditions between our outskirt cities/neighborhoods and the more inner ones….
Phoenix Home Prices Slowing – A New Trend? Last week I sorta indicated that this week, we’d be looking at how buyer’s agents help buyer’s find that just right home. In the meantime, I’m throwing a change-up to talk about the market…
Last article I sorta indicated that this week, we’d be looking at how buyer’s agents help buyer’s find that just right home. In the meantime, I’m throwing a change-up to talk about the market and how the winds of pricing are changing….
On August 17th of this year, the American residential real estate world changes – and it changes most profoundly for Buyers and Buyer’s agents. The recently settled lawsuit of Sitzer-Burnett (aka Sitzer) vs NAR (National Association of Realtors) and various real estate…
And yet, Prices are Rising! This is Not Good! A very good friend of mine and my very first client in Arizona back in 1995, Mike York, sent me this NY Times article recently. Mike figured I had already seen it –…
Last week we began to address the news which is real news – the lawsuit settlement known as Sitzer-Burnett vs NAR (National Association of Realtors) and various real estate companies. I’ve again posted the WSJ article here. NAR settled this lawsuit for…
Listed below are Maricopa County’s February’s sales numbers for both resales and new homes. These numbers are mildly interesting, sort of going against the grain of our conventional thinking of supply and demand. But then again, when has a Phoenix market ever…
Two years ago, we were in a rabid seller’s market. Home prices had gone through the roof and were at a monthly median sales price of $433,500. That was up from $339,000 in February of 2021 and up from $290,000 in 2020…
Market Will Remain Sluggish Without Improvement In a recent Snapshot, we wrote that 7% mortgage rates were the line in the sand where buyers move forward or hang back. At the time, rates were around 6.6% and buyers were grabbing their helmets…