Category Archives: AZ Real Estate

Greater Phoenix Real Estate Update 1/29/2021

The frequency in which I am asked, “Is real estate headed for a crash?” is increasing, by a lot. Given the enormity of uncertainty we have lived with for nearly a year, the question isn’t surprising. Things are going well in real estate and with the limited good news, it is easy to wonder when the other shoe will drop.

This Week in Phoenix Real Estate (video) 1/25/2021

Many economists are bracing for a rough winter. Consumer sentiment may take a hit. There are struggles with continued lockdowns leading to continued layoffs and high unemployment. But as the vaccine continues its roll out and the economy reopens these economists expect a strong recovery in Q2 or Q3 of this year. Businesses will open back up, people will go back to work, people will spend money on entertainment again. Since it was not an economic event that stopped the machine, they expect for it to start right back up again and go straight back into a bullish economy.

Greater Phoenix Real Estate Update 1/22/2021

As of Monday, total single family homes available in the US dropped down to 388,678. That means that only 0.05% of all single family homes in the country are available. With NAR’s 1.4M members, there are 3.5 Realtors for every house for sale.

Greater Phoenix Real Estate Update 1/15/2021

New listings are under contract in a matter of days. We are not at the peak, prices will rise probably all the way through 2021. You have time, markets move slowly. Things change over the course of years. Prices in 2021 will continue to rise most likely throughout the year. May slow down as demand wanes with rising prices.

AZ Forbearance Update 1/13/2021

Of the cumulative forbearance exits for the period from June 1 through December 27, 2020 about 45% are current and 13.2% left with no loss mitigation plan in place. The others either sold, deed in lieu, loan modification, etc. It is the 13.2% of borrowers that are the ones who need extra guidance.

This Week in Phoenix Real Estate (video) 1/11/2021

In this 12 minute video, Amber Kovarik and I discuss the latest in lending and real estate. We cover political implications and what that means for interest rates, inventory, headlines, and demographics. There was a lot of movement in the past 7 days.