I’ll be doing 10 minutes on using video to sell real estate. Stop by, say hello and get some “Agency” renewal hours for your Arizona real estate license.
May be the best “AGENCY” accredited real estate course EVER – Only a few days to get your seat.
Click Here to Register.
I don’t have time right now to interpret the data but you can get a ton of information about the Phoenix real estate market here.
If you have any specific questions, leave a comment below or email me.
P.S. And I have a lot of data, of course, on this site.
Now Priced $15K Below Appraisal!
It won’t last long at this price.
5 bedrooms + 3 full baths + Formal dining room + Living room + Family room + Loft + Gorgeous backyard
LARGE KITCHEN with NEW granite countertops and travertine backsplash, kitchen island with breakfast bar, plus breakfast room, stainless steel style appliances & huge walk-in pantry! All baths updated with NEW tile shower surrounds. Master bath has tub, walk-in shower with dual shower heads and shower bench seat. NEW flooring throughout – ceramic tile and carpeting. GORGEOUS BACKYARD – beautiful pool with water shears, natural gas barbecue and cooking counter, custom landscaping, adobe stone pool decking and patio (all NEW in 2006). Energy-saving sunscreens. Interior and exterior completely painted with top quality paint 2 years ago.
Call your real estate agent to schedule a tour or call me at (480) 463-4475. John Wake, HomeSmart
Makes sense. Even though rates are incredibly low, they’re significantly higher than last spring. It’s the delta.
“Changes in fundamentals such as rising mortgage rates can account for much of the sluggishness in existing home sales over the past year,” Krainer said. Home resales have slowed sharply since the second half of 2013, declining in seven of the eight months through March. They peaked in July.
Mortgage rates started trending higher last May in anticipation of the Federal Reserve scaling back its monthly bond-purchasing program. The 30-year fixed rate increased by about a percentage point from last May, when it was 3.54 percent, to its most recent peak of 4.49 percent in September. It has since dropped to average about 4.34 percent in April.
On the good side, he thinks, “As the moderate recovery continues and these factors begin to dissipate, all forms of housing market activity, including existing home sales, should post more solid growth.”
Here’s a very useful post from Scottsdale mortgage guy John Moran on down payments.
But “the housing picture remains more worrisome, with existing home sales, new home sales, housing starts, and multifamily housing all experiencing year-over-year declines despite improving consumer attitudes,” says Doug Duncan, Fannie Mae’s chief economist.
Fannie Mae press release.
John Wake analyses the Phoenix real estate market using Phoenix MLS (Multiple Listing Service) data. The metro Phoenix MLS comes out with new data each month on the number of homes sold, the median price of the homes sold, the number of unsold homes listed for sale, and the number of new listings that hit the Phoenix market each month. See all past “Phoenix Real Estate Market at a Glance” reports on a single page.
- INVENTORY. The inventory of homes listed for sale in metro Phoenix FINALLY leveled off in April and May. In a typical year, the inventory would fall from February through June but this year the inventory actually increased sharply in February and increased a bit in March instead of falling. That’s huge. I didn’t expect that. The strong home price increases in 2012 and the first half of 2013 apparently made home sellers a lot more enthusiastic about selling while the higher prices (and higher interest rates since last spring) made home buyers less enthusiastic about buying.
- PRICES. The median home price in Metro Phoenix rose a bit in April to $190,000 (all homes), however, I know from looking at zip code data that the median price has fallen slightly in some zip codes over the last few months. The unexpectedly weak high season suggests a weak summer and fall for prices. I’m thinking this morning that metro Phoenix home prices will generally drift slightly lower during the second half of the year.
- This would be a good time for banks to loosen their unnecessarily tight lending standards.
Sadly, the Canadian Tutorial is not, in fact, a tutorial on how to be a Canadian despite how incredibly valuable that would be to the world.
And the Canadian Tutorial is not a tutorial about how to buy an Arizona home written in Canadian.
It is, in fact, a “7-Step Tutorial for Canadians on How to Buy an Arizona Home” written in American.
We apologize for any inconvenience this may have caused.
Please leave your comments and insights below.
I got some emails requesting that I indeed take a photo of the old Arizona Harvest Calendar I have on my fridge but, even better, I found these online.
Knowing what’s in season in Arizona is important because fruit and vegetable quality and price are both usually best when in-season.
Great combination – best quality AND lowest price at the same time! That doesn’t happen with many products.
Better Produce = Eating More Produce = Better Health
Arizona Fruit Harvest Calendar
Arizona Vegetable Harvest Calendar
Source: Arizona Specialty Crop Guide.
Let me know if you think this post was worthwhile or just an annoying, off-topic distraction.
Two people unsubscribed after the previous “Arizona Grown” post so the topic may just annoy readers looking for Phoenix real estate market news.
I was the head of the marketing department at the Arizona Department of Agriculture a hundred years ago when we developed this orange Arizona Grown logo with the Arizona produce industry.
It’s so cool that it’s still being used all these years later. I just shot this in Albertsons.
The Arizona cantaloupe season just began and it runs May to November.
Why’s that important? Better produce = eat more produce = better nutrition.
Liz a long, long time ago: “Dang, I paid a fortune for this cantaloupe and it’s terrible!”
Me: “It’s February. Cantaloupe are out of season.”
The “Duh” was silent, if I remember the conversation correctly.
Arizona In-Season Produce Calendar
I have an Arizona produce what’s-in-season calendar on my fridge. I could take a photo of it if anyone is interested. The quality of the photo may not be great, however, because the calendar is long and skinny.
Let me know if you would like one.