The Housing Market Shift has Arrived
(Published on - 7/3/2022 12:32:26 AM)
HAPPY INDEPENDENCE DAY!!
Realty Executives recently featured in Military Makeover!
In the housing market, a new report by Realtor.com states that June saw the number of real estate listings rise by 18.7% compared with a year earlier, the second straight month of growth and the fastest on record since July 2017. However, we still have a long way to go before housing inventory levels are back to where they were before COVID-19. Three years ago, in June 2019, there were 53.2% more homes on the market—more than double what’s available today.
Luxury Market Housing Report
Download the most current report of the Institute for Luxury Home Marketing, Nationally, and locally in Paradise Valley and Scottsdale here.
JULY's 3 Minute Market Video
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate.
2005 Bubble vs. 2022 Potential Correction
(Published on - 5/31/2022 12:51:26 AM)
2005 Too Many Homes ... 2022 Not Enough Homes.
- 2005 Zero Down Loans Freely Available ... 2022 Borrowers must have "Skin in the Game."
- 2005 was dominated by Investors ... 2022 Buyers are Homeowners, or those wanting badly to be homeowners.
- So what is the Worst Case: A Crash. However, there is nothing in the math that supports a crash.
- Best Case: No Effect.
- Most Likely: A short term market shift or correction. Interest rates could go back to 5% as early as this Fall.
Interested in the increased number of listings and lower market demand here in the Valley of the Sun? Watch my 3 minute June Market Re-cap Video Here.
Buyer Waiving Repair Request (Inspection Contingency)
(Published on - 4/12/2022 5:14:18 PM)
The Arizona Purchase Agreement is an As-Is contract, and due diligence is the responsibility of the Buyer. So when a Buyer states they are willing to purchase "As-Is" in this competitive Seller's market, it is redundant and really doesn't carry any weight. However, a Seller may require the Buyer to waive the lines of the contract regarding the BINSR process. But importantly, if the Buyer submits a repair request anyway, the Seller should not respond based on the stricken language, or it may negate the Seller's intention. More in this month's 3 Minute Market Recap HERE
This is NOT a Housing Bubble: April 2022
(Published on - 4/5/2022 4:09:55 AM)
NOT a Housing Bubble
According to a Forbes article March 25, this is NOT a housing bubble (full article)
And to buy a house in this market you REALLY need someone experienced. See more on this topic in my 3-MINUTE VIDEO link. (check back April 15)
Experts Predict Another 16.3% in Home Values by December
A new survey of experts published 3/24/2022 sees home valuations between February and December this year averaging 16.3% appreciation. Excerpts: While 38% of experts polled by Zillow believe 2024 will be the year inventory returns to 2019 levels, 36% pegged 2023 as the year. The remainder believe we'll have to wait until 2025. The survey continues, The inventory crisis gripping America’s housing supply will most likely let up in 2024, with some experts forecasting a longer wait, according to a new survey released Thursday (3/24/2022) by Zillow. In the immediate future, experts predicted home values and rents to continue trending upwards, with Zillow economists predicting a 16.3 percent increase in typical hom
e valuations between February and December 2022.
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate.
Real Estate: The Best Hedge Against Inflation. March 2022
(Published on - 3/1/2022 4:35:01 PM)
Real estate is one of the time-honored inflation hedges. It’s a tangible asset, and those tend to hold their value when inflation reigns, unlike paper assets. More specifically, as prices rise, so do property values. – Mark P. Cussne, Financial writer, Investopedia
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating a 36 year career in Arizona Real Estate.
