Tag Archives: #azforbearanceupdate

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.

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.

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.

AZ Forbearance Update (video) 1/6/2021

Many experts believe that struggling borrowers are more likely to sell rather than foreclose. This will benefit those struggling as a regular sale does not negatively impact credit and buyers have very limited options. Any additional inventory is welcome. In Maricopa County, there are only 4,100 single-family homes available and all of ARMLS has fewer than 6,000 listings available. We are 70% below where we should be. Nationwide we only have about 419,000 single-family homes available; low inventory is a challenge everywhere.