Big money keeps getting bigger with sky-high valuations and it is coming after real estate, that isn’t new, but the volume of capital is. I expect demand to continue to be strong, as long as rates stay low. At some point, likely in the not too distant future, more homeowners will realize how much equity they are sitting on and will be inspired to list bringing up inventory levels and providing buyers more options.
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AZ Forbearance Update (Video)
Lydia Wietsma with Nexthome Elite Realty and I spent 15 minutes talking about mortgage forbearance, different options, what to plan for in the coming weeks and months. Today’s Takeaways: The goal of the banks today is different than it was 10 years ago. 10 years ago it was about enabling homeowners to complete short sales.Continue reading “AZ Forbearance Update (Video)”
Greater Phoenix Real Estate Update 9/25/2020
Big money keeps getting bigger with sky-high valuations and it is coming after real estate, that isn’t new, but the volume of capital is. I expect demand to continue to be strong, as long as rates stay low. At some point, likely in the not too distant future, more homeowners will realize how much equity they are sitting on and will be inspired to list bringing up inventory levels and providing buyers more options.
Phoenix Area Real Estate Update 9/18/2020
If you see headlines stating “delinquency rates on the rise” those rates include mortgages in forbearance which are planned deferrals. According to Black Knight Financial, there are about 2 million more delinquent mortgages than there were in February. This chart shows that 30-day delinquencies are 14% lower than pre-pandemic numbers and the initial wave is subsiding.
AZ Forbearance Update (Video)
Lydia Wietsma with Nexthome Elite Realty and I spent 15 minutes talking about mortgage forbearance, different options, what to plan for in the coming weeks and months. Today’s Takeaways: The literal meaning of forbearance is “holding back”. It is a temporary postponement of mortgage payments resulting in a form of relief for the borrower inContinue reading “AZ Forbearance Update (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 inContinue 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.
Afternoon Bite 8/10/2020 (Video)
Jobs, mortgages, 1031, schools and what it all means for housing.