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Greater Phoenix Real Estate Update 10/16/2020

Residential real estate is outperforming the rest of the economy. The strong market going into the pandemic combined with historic low interest rates enabled to us to get here. We learned that these low rates trump COVID and our home is our castle. Despite the unexpected growth we are experiencing today, many experts are seeing warning signs around future affordability.

This Week in (Greater Phoenix) Real Estate 10/12/2020

In this 20 minute video, Amber Kovarik and I discuss the latest on housing, lending, and the economy. We go into detail on forbearance, obstacles when purchasing after leaving a forbearance program, helping buyers get their offers accepted, delinquencies, unemployment, and supply & demand in real estate. Greater Phoenix has had a 17% appreciation over the past 12 months!

Greater Phoenix Real Estate Update 10/9/2020

Last week a client told me about an acquaintance of hers who had received their 3-month forbearance letter stating they now owed their lender $8,000. They got scared and sold their home to Opendoor. They did not know they had extension options or the ability to stay in their house. There is an extreme lack of information being shared on forbearance.

This Week in (Greater Phoenix) Real Estate 10/5/2020

The Fannie Mae Home Purchase Sentiment Index illustrates consumer confidence for buying and selling real estate. According to the most recent update, from August, consumers believe it is a good time to buy. The buyer consumer confidence index has fully recovered to pre-pandemic levels. What is interesting is that seller consumer confidence has not fully recovered. This is seen in our low inventory levels with continued high demand.

Greater Phoenix Real Estate Update 10/2/2020

Our economic recovery is complicated and Q4 2020 will be a continuation of the complication. I expect we will see more of the same; tight inventory, high demand, continued recovery – slower than we would like but progress nonetheless, and holiday commercials will replace political ads. The AZ Market: Real estate consultant Jim Belfiore expectsContinue reading “Greater Phoenix Real Estate Update 10/2/2020”

AZ Forbearance Update (Video) 9/30/2020

Lydia Wietsma and I discuss the latest news in forbearance trends and where borrowers can go for help. Freddie Mac shared some interesting info this week! Today’s Takeaways: Unemployment: The national unemployment rate is 8.4%. Weekly initial claims have dropped below 1 million but remain high. Our continuing unemployment has dropped below 13 million. SomeContinue reading “AZ Forbearance Update (Video) 9/30/2020”

This Week in (Greater Phoenix) Real Estate 9/28/2020

Big money keeps getting bigger with sky-high valuations and it is coming after real estate, that isn’t new, but the volume of capital is. I expect demand to continue to be strong, as long as rates stay low. At some point, likely in the not too distant future, more homeowners will realize how much equity they are sitting on and will be inspired to list bringing up inventory levels and providing buyers more options.

AZ Forbearance Update (Video)

Lydia Wietsma with Nexthome Elite Realty and I spent 15 minutes talking about mortgage forbearance, different options, what to plan for in the coming weeks and months. Today’s Takeaways: The goal of the banks today is different than it was 10 years ago. 10 years ago it was about enabling homeowners to complete short sales.Continue reading “AZ Forbearance Update (Video)”

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Greater Phoenix residential real estate

statistics, news, insights, and analysis.