Tag Archives: seller’s market

The Local Real Estate Market – What is Fact and what is Fiction

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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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If Everyone Says it’s A “Seller’s Market”, How Can It Be A Good Time To Buy?

All indicators say that we are in a “Seller’s Market”.  What does that mean?  According to Michael Orr, Director of the Center for Real Estate Theory & Practice at the WP Carey School of Business at ASU, it is based on the age old Supply & Demand equation.  When Buyer Demand exceeds the number of […]

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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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Are we in another “bubble” that might burst?

http://www.dsnews.com/articles/investors-inventory-shortgage-catalysts-to-housing-rebound-report-2013-04-18 Some homeowners & future buyers have been concerned that the low inventory of homes & the onslaught of investors purchasing properties in our market has created another bubble.   Protek Valuation Services Home Value Forcast say otherwise, stating that they believe these factors have CONTRIBUTED to our Real Estate recovery rather than creating an artificial […]

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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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