AZ Forbearance Update 8/11/2021

There is a lot of confusion with all of the info coming out of Washington DC. There are proposals, bills, executive orders, extensions, approvals, and appointments announced every day. In this 15 minute video, Lydia Wietsma and I share updates on these policies impacting housing.

AZ Forbearance Update 6/2/2021

This week was week number 13 of continued improvement in the forbearance numbers and are now down to 4.18% of loans in forbearance or about 2.1 million borrowers. This is fewer than half the total amount of borrowers who were initially in a forbearance plan in May of 2020 which was about 8.47% of borrowers which was way below the predicted 30% of borrowers who were expected to go into forbearance.

AZ Forbearance Update 4/7/2021

Forbearance numbers improved again for the 5th week in a row. It is very difficult to make predictions in this current environment. Policy is changing regularly. We do know one thing that is helping all homeowners, struggling or not, it is the sky-high appreciation. Nationwide it is nearly 16% and here locally it is 19%. This gives homeowners options, whether or not they are struggling to make payments.

AZ Forbearance Update 3/31/2021

There is a lot of talk about what will happen next. While we do not have a crystal ball and the real estate market is unpredictable, there are a few assumptions we can make based on the numbers. There are tons of headlines and YouTube videos all about how the market will crash in 2021. The problem with many of these predictions is that they exclude very important data. Today I saw a YouTube video with many thousands of views and used lots of numbers to illustrate his point. Throughout the entire video he never made mention of buyer demand or homeowner equity. Remember, the foundation for all economics is the relationship between supply AND demand.