As you can imagine, Real Estate has slowed in the Phoenix area along with most other industries. We first noticed it in the first weeks of March when the COVID-19 federal guidelines were released. It wasn’t until that Tuesday however, when our…
In light of the global pandemic, it’s tempting to prognosticate about the normal return of our Phoenix Metro residential real estate market, however, wisdom would say, “Mike, let your words be few!” So, for now, we’ll just report on the actual sales…
The early 80’s was a tough time to be in real estate. In conjunction with sky-high oil costs (Arab oil embargo) and 18% mortgage rates, Real Estate had nearly ground to a halt. This was true nationally, but especially in the recreational…
NEW BODEEN TEAM MEMBER! I want to personally apologize for our delay in the snap shot this week! We know that many, maybe most of you are probably hungry to learn how this COVID-19 business is impacting the world of real estate….
For the past decade, mortgage interest rates have averaged under 5% for the year. The two lowest years on record, according to Freddie Mac stats, are 2012 (3.66%) and 2016 (3.65%). Oh, hey, those were presidential election years. And in this 2020…
We’ve been reporting that it’s a seller’s market for a number of years now. What that ultimately means is that the ratio of supply and demand weighs heavily in favor of sellers. Some might infer this means demand is high and supply…
January 1st of each year, there is a major drop in the number of active listings in the Phoenix metro market, because many listings’ expiration dates were tied to the end of the previous year. This year was no different. Historically, January…
To kick-off the 2020 real estate season last week, I attended the HomeSmart Elite luncheon with Tina Tamboer, senior residential housing analyst with the Cromford Report, and Catherine Reagor, real estate reporter with the Arizona Republic. Few, if any, have their pulse…
AND HOW DID OUR 2019 PROGNOSTICATIONS TURN OUT? Last week we looked at how our crystal ball predictions came in for Phoenix Metro housing in 2019. This week we’ll finish out our prognosticating for rentals and new home construction. First is what…
AND HOW DID OUR 2019 PROGNOSTICATIONS TURN OUT? In the next two weeks we’ll be looking ahead to view the 2020 Phoenix Metro residential real estate market. This prophetic stuff is risky. The test of a genuine prophet in the Old Testament…