We trust your Thanksgiving weekend was wonderful! Apart from the traditional, additional, and certainly not subliminal poundage gained, it was for the 18 or so Bodeen family and friends who gathered at our home😉. As most of our readers are aware, we…
Time to Get Off the Sidelines Buoyed by good news showing that our overheated economy is finally cooling, and inflation lowering, conventional rates have dropped down to 7.37% as of Friday, the 17th of November, per Mortgage News Daily. Better yet, FHA…
If you’re new to the Valley of the Sun or are contemplating a move here, or perhaps know of someone who is, you or they may be wondering where the best place to live is? After all, Maricopa County is HUGE. And…
Before we get to the mortgage rate news, let’s take a look at October’s ARMLS numbers, with gratitude, as usual, to the Cromford Report. This week, we’ve added some new home stats as well. Active Listings: 15,247 vs 20,582 last year -…
I’ve been through three of these downward sales cycle rodeos in my career. They are never fun. If we knew what the rate and listing trajectory would be over the next months, buyer and seller advice would be easier. Unfortunately, I left…
Plus Thousands of Other Affiliates? The question on most everyone’s mind who has any affiliation with residential real estate these days (buyers, sellers, Realtors, lenders, title companies, etc., etc.,) is: “What’s going to happen to real estate?” Another way we’re phrasing the…
But it’s a Catch-22 The numbers are in for September showing a swing towards buyers. Inventory is rising, sales are slowing. The Maricopa County recorded deeds* (Affidavits of Value**) recorded during September show us the following: There were 5,896 closed transactions, down…
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…
7% Rates Get the Credit (or Blame) The most closely watched local real estate index, the Cromford Market Index (CMI), has been slowly turning south since mortgage rates hit 7+% this past July. The chart below shows the curvature of the Cromford…
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….