Tag Archives: competition

Pending Home Sales Rise to Highest Level in Nine Years

The National Association of Realtors (NAR) recently reported in their Pending Home Sales Index (PHSI) that, pending home sales increased in April for the fourth consecutive month and reached their highest peak in nine years. All four major regions saw growth in April, led by the Northeast and Midwest. “The steady gains in contract activity […]

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Still a Seller’s Market? Not for Long!!!!

According to Michael Orr of Arizona State University WP Carey School of Business, at an ARMLS “Engage” Conference held yesterday in Phoenix, we will reach a balanced market in exactly 9 days.  By balanced market he means neither a Buyer’s nor Seller’s market.  As a statistician who tracks daily sails trends, he has noted the […]

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Buyers Who Can Profit from Today’s Market

There are 4 types of buyers who are the best candidates to profit from today’s market conditions: Move Up Buyers:  Buyers selling smaller homes and moving up to a larger, more expensive property can more than recover any losses they get from selling with the savings they’ll proportionally receive when they buy a more expensive […]

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Shadow Inventory? Not from Foreclosure Holdbacks!!!

http://www.dsnews.com/articles/foreclosure-filings-reach-six-and-a-half-year-low-2013-07-10 The most recent report from Realty Trac shows filings of foreclosures hitting a 6 1/2 year low in June, dipping 14% from May and down $35% from a year ago, dropping to a low not seen since December of 2006.  The year to date foreclosure filings are down 23% from the same time period […]

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Phoenix Home Sales Median Price Continues to Increase

http://www.azcentral.com/business/articles/20130503phoenix-home-sales-median-price.html Metro Phoenix median home sales price rose to $175,000 in March, a 3% increase from February marking a 30% increase over the last year.  Prices are expected to continue to increase, at least until June which is our traditional peak buying season in the Valley.  However, prices still haven’t increased enough for many homeowners […]

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US Home Prices Have Highest Increase in 7 Years

The National Association of Realtors announced a 9.3% gain in US home prices in February of this year as compared with a year ago, driven by increased number of buyers and a decreasing inventory of available homes to purchase.  Increasing employment & near-record low mortgage rates are keeping demand for home buying high, helping sustain […]

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Valley Projected Population Growth Helps Housing Market

Population growth is a main driver behind metro Phoenix’s housing market. An optimistic estimate on the number of people who could move to this state in the next decade or two to be close to what the Valley enjoyed before the 2006-2008 “bust” in our housing market & overall economic downfall. A panel discussion on […]

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Arizona among top states in home-price gains in Feb

With US home prices jumping up by the larges amount in over 7 years, Arizona boasts to be one of the nation’s top “gainers”.  CoreLogic, a Real Estate data provider, stated that most of the larges gains were in the West where Nevada was #1, Arizona #2 & California #3.  Hawaii & Idaho rounded out […]

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Renters: Is it NOW time to BUY?

The combination of incredibly low mortgage rates, rising rental rates, and very low inventory levels, those who have previously been renting their homes realize now is a good time to purchase.  The problem many are finding, however, is that there is stiff competition for the lower price point homes and many are put in the […]

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Are you thinking of selling your home? NOW is the time.

We are presently in a SELLER’S Market in the Phoenix area with just over 13,000 homes for sale….less than a quarter of what was on the market in 2006.  Homes are selling much faster (especially those under $200,000) due to greater buyer demand and fewer homes from which to choose.  Multiple offers are not unusual, […]

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