Our economic recovery is complicated and Q4 2020 will be a continuation of the complication. I expect we will see more of the same; tight inventory, high demand, continued recovery – slower than we would like but progress nonetheless, and holiday commercials will replace political ads. The AZ Market: Real estate consultant Jim Belfiore expectsContinueContinue reading “Greater Phoenix Real Estate Update 10/2/2020”
Tag Archives: #theazmarket
AZ Forbearance Update (Video) 9/30/2020
Lydia Wietsma and I discuss the latest news in forbearance trends and where borrowers can go for help. Freddie Mac shared some interesting info this week! https://videopress.com/v/te6RTCF7?posterUrl=https%3A%2F%2Ftheazmarket.com%2Fwp-content%2Fuploads%2F2020%2F09%2Fthumnail.jpg&preloadContent=metadata Today’s Takeaways: Unemployment: The national unemployment rate is 8.4%. Weekly initial claims have dropped below 1 million but remain high. Our continuing unemployment has dropped below 13 million.ContinueContinue reading “AZ Forbearance Update (Video) 9/30/2020”
This Week in (Greater Phoenix) Real Estate 9/28/2020
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.
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. https://videopress.com/v/GQeR2d6a?preloadContent=metadata 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 shortContinueContinue 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. https://videopress.com/v/3x9DjkJN?preloadContent=metadata 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 borrowerContinueContinue 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 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.
Afternoon Bite 8/31/2020 (Video)
There are 160 million employed Americans who are looking at their home as their castle. Now home is the focus, more so than ever before.