I offered to write today’s Market Snapshot since one didn’t get sent out this past Monday, and I’ve never done a Christmassy one that I recall. So, I wondered, what kind of an appropriate seasonal message about real estate could I come…
Plus, Buyer Buy Downs and One More Seller Strategy Renters are now discovering there’s a lot more supply recently to choose from and the landlords are being more accommodating to renter prospects. The following numbers supplied by the Cromford Report seem to…
In the above “Cromford Index” a reading south of 90 indicates a buyer’s market. If the wise Yoda was asked about the current state of the Phoenix Metro real estate market, what would his response be? “A Buyer’s Market you are in….
What Can Sellers Do? In less than a year, our torridly hot Phoenix Metro residential real estate Seller’s market has slammed on the brakes and gone into reverse. The seller’s market is now a buyer’s market. (See Cromford Market Index Chart) Yes,…
Today, we have two sets of stats for your observation. The first, the Arizona Regional Multiple Listing Service (MLS) gives us numbers for current and under contract listings plus sales, in all the MLS, for all types of homes, which includes a…
When I began my real estate career in the mid 70’s, brevity and simplicity was the rule. Sellers were king! Those were the days of one-page real estate purchase contracts with lots of open lines for agents to write the deal down…
September’s Stats are in. These unpleasant seller numbers are music to the ears of buyers. Unfortunately for buyers, however, mortgage rates are now in the mid 7% range and before the year is out, we may be looking at rates in the…
Our Phoenix-Metro residential listing inventory shot up this year from mid-April to mid-August, then its ascent began to slow (see chart below). Part of that reason is that sellers are choosing not to put their home on the market due to slumping…
Today’s Phoenix Business Journal published an article with a truly unbelievable headline proclaiming that the median rent in Phoenix grew by nearly 46% this past year. The article further reported that the Phoenix area’s median rent was $2350 in August, and that…
The market is in an unpredictable place. We don’t know what’s around the corner, and even the experts that we follow are afraid to predict with any kind of confidence. The truth is right now we have good news and bad news,…