In this 15 minute video, Lydia Wietsma and I discuss the latest improvements in mortgage forbearance and delinquencies, and also the declining demand (not prices).
Category Archives: AZ Real Estate
Greater Phoenix Real Estate Update 3/12/2021
These companies are spending big money fighting for market share in the strongest sector in the economy. Why? Because US residential real estate is valued at $39.3 trillion, which is nearly double the 2019 US GDP ($21.4 trillion) and it is the nation’s most valuable asset. It is followed by equities at $37.2 trillion and commercial real estate at $20.4 trillion. With so much value in residential real estate and it being an industry that dodged disruption for a long time, Wall Street and Silicon Valley will continue to create and fund disruptors until they can figure out how to turn a profit.
AZ Forbearance Update 3/10/2021
In this 12 minute video, Lydia Wietsma and I discuss forbearance, demand, specific industries, and our one-year anniversary.
Greater Phoenix Real Estate Update 3/5/2021
Today is all about the AZ market. Recently, Lawyers Title hosted a presentation with Tina Tamboer with the Cromford Report. She always shares pertinent and timely information. Below I have combined a lot of her information from her presentation, along with additional information from my research.
This Week in Greater Phoenix Real Estate 3/1/21
Inventory remains low. Crazy low. Demand, which has been elevated is now dropping faster than inventory. Our demand is now about 19% higher than normal and inventory is over 76% below normal. Prices continue to go up with no end in sight. The limited inventory is the cause of the decreasing number of pending listings each month. We are still running 13% above last year when we had significantly more listings available.
Greater Phoenix Real Estate Update 2/26/2021
While real estate remains local; the big business behind it is anything but. 2021 has seen many mergers and acquisitions and we expect to see many, many more this year. The journey towards the undefined end-to-end platform continues on, gaining speed in the form of millions and billions of dollars.
What is end to end? Is it buying a house with a click of a button? Is it bundling real estate, title, and mortgage services from one company? Is it the Zestimate value as the offer amount? Real estate isn’t a grass roots industry anymore.
This Week in Phoenix Real Estate (video) 2/22/2021
In this 11 minute video, Amber Kovarik and I discuss the latest in real estate, lending, and the economy. There are some major emerging trends that were predicted for 2021 and they are all happening now; only 6 weeks into the year. Rates have moved up slightly, and Amber talks about why.
Greater Phoenix Real Estate Update 2/19/2021
Low-interest rates keep housing demand high while available supply continues to dwindle. Today’s market is tough on buyers yet it is still a great time to buy; so we must continue to encourage them. And we must do the same for the sellers as well.
Stories of 75 offers in one weekend or a fixer selling as-is for $50,000 over asking come almost daily. Real estate is not for the faint of heart nor is it boring.
AZ Forbearance Update 2/17/2021
We do these videos to share the real information with real estate professionals and consumers about what is going on in this sector of real estate. There is a lot of fear behind forbearance and the moratoriums, and bad advice being given. While there is no reason to panic, it is important to be informed.
Greater Phoenix Real Estate Update 2/12/2021
Real estate is dominating many headlines; from the low-interest rates, low inventory, high demand, big news at Zillow, another commission lawsuit, national policy changes, to CFPB leadership changes there is a lot going on!