Category Archives: AZ Real Estate

Afternoon Bite 9/14/2020 (Video)

Every Monday afternoon I spend 15 minutes discussing the economy, real estate, and lending. Today I focused on comparing and contrasting the 2005 and the 2020 greater Phoenix real estate markets. https://videopress.com/v/z8bKHe4F?posterUrl=https%3A%2F%2Ftheazmarket.com%2Fwp-content%2Fuploads%2F2020%2F06%2Fbite.png&preloadContent=metadata Today’s Takeaways: Despite listings being down nearly 40% year over year, our inventory is actually creeping up a bit, which is a goodContinueContinue reading “Afternoon Bite 9/14/2020 (Video)”

Phoenix Area Real Estate Update 9/11/2020

Lately I have been getting more and more questions about foreclosure data and defaults and what we could potentially see coming in the next several months. Even more recently I am hearing about conversations Realtors are having with sellers who plan to sell and then rent because they are afraid to lose equity, like inContinueContinue reading “Phoenix Area Real Estate Update 9/11/2020”

Phoenix Area Real Estate Update 9/4/2020

Local economist Elliott Pollack states that the Phoenix metro housing market will remain strong. Between the strength of our job market, affordable prices, stability, and good weather people will continue to move here from other parts of the country.

Phoenix Area Real Estate Update 8/28/2020

Projections, forecasts, and predictions are educated guesses and are the only guides we have available today. Navigating uncharted territory without a compass is challenging at best. Nothing about this year’s real estate activity fits into the usual cyclical patterns. Data companies are updating their projections seemingly daily.

Afternoon Bite 8/24/2020 (Video)

Many economists are calling this a K shaped recovery. That means that some are having a positive recovery or are fully recovered while for others the struggle continues to worsen. Economist and real estate consultant, Elliott Pollack calls it the “have and have not economy.” Those with jobs have saved money and are in good financial standing. Those who have lost their jobs, who are usually not homeowners, are finding themselves with fewer job prospects and, with the expiration of the CARES Act, significantly smaller unemployment checks.

Phoenix Area Real Estate Update 8/21/2020

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness.” Leaving politics aside, the opening of Charles Dickens’ 1859 novel, A Tale of Two Cities, accurately describes today’s environment. Dickens continues, “It was the epoch of belief, it was the epochContinueContinue reading “Phoenix Area Real Estate Update 8/21/2020”

Afternoon Bite 8/17/2020 (Video)

Every Monday afternoon Amber Kovarik and I talk about what happened this week in our local and national real estate market in 15 minutes or less. https://videopress.com/v/NN7fOx28?posterUrl=https%3A%2F%2Ftheazmarket.com%2Fwp-content%2Fuploads%2F2020%2F06%2Fbite.png&preloadContent=metadata Today’s Takeaways: Second Quarter Earnings: In the second quarter of 2020, the total number of closed residential real estate transactions was down 17.8% year over year. This isContinueContinue reading “Afternoon Bite 8/17/2020 (Video)”

Phoenix Area Real Estate Update 8/14/2020

The lens we use to interpret data matters. I am not talking about heated agendas but about how closely we look at the info. The big picture or 30,000 foot view is very different from the more focused picture or 15,000 foot view which is very different from the detailed picture or 1,000 foot view. Each picture is important and together they illustrate a complete story. For example, remember when the subprime mortgage backed securities failed and took down the stock market and then you had to explain to your next-door neighbor the difference between a foreclosure and a short sale? Real estate is national and hyper-local at the same time. National influences what happens locally.