Arizona Real Estate Notebook

Your Monthly Payment is Key “A 1 percent increase in interest rates – from 5 percent to 6 percent – requires a 10 percent decline in home prices to have the same monthly payment.” It’s a tough question! I would say a 1 percent increase in interest rates is more likely than an additional 10 [...]

You would think their expert knowledge of the real estate market would let Realtors price their homes correctly but it’s not true. Realtors often overprice their personal homes! It always tickles me to see a Realtor overprice their own home. It’s funny because it’s often the same Realtor who likes to complain about his clients [...]

I like to watch what’s happening in southern California and Las Vegas real estate markets to see what may be coming our way. The boom, for example, started in southern California, spread to Las Vegas and then eventually it hit Phoenix. San Diego Foreclosure Update: The report also found that the rate of foreclosure continues [...]

I know people suspect real estate analysis from a Realtor but now even the hero of the housing bust, Dr. Robert Shiller of Case-Shiller Home Price Index fame, sometimes uses the word “overcorrection.” Phoenix Home Prices and Overcorrection In passing, during this long video with economic stars Robert Shiller and Nouriel Roubini, Dr. Shiller mentioned [...]

The St. Louis Fed (Federal Reserve Bank of St. Louis) looked at the housing crisis by price levels, “Examining the Housing Crisis by Home Price Tier,” and came to what is becoming the conventional wisdom, that Phoenix may have overcorrected on the down side especially for the least expensive homes. (I’ll post an example from [...]

Did you notice the new “Call Me” logo in the right-hand column? You can call me for FREE from anywhere in the United States complements of Google Voice. Click the “Call Me” logo near the top of the right-hand column Put in your name and phone number and press “Connect” Google Voice will ring both [...]

At least according to this mortgage piece on Channel 3. Hey mortgage guys and gals, does this sound about right to you? 3 On your side consulted a mortgage expert to find out what fees to watch out for, first processing fees. “Most common fee of them all typically,” Wegner said. Wegner, from WJ Bradley [...]

The Boston Fed looked at foreclosures and loan modifications and kinda explains why banks modify so few loans and why government efforts to increase loan modifications may not be very effective. However, we point out that renegotiation exposes lenders to two types of risks that are often overlooked by market observers and that can dramatically [...]

It’s the non-Scottsdale part of Scottsdale. It’s a large area of county land east of Scottsdale’s Troon North. It has large lots, horses, fewer regulations, peace and quite and lots of shared wells. This unincorporated area is commonly called Rio Verde Foothills but some Realtors in the area have taken to calling it The Foothills [...]

The more I follow this real estate boom and bust, the more I appreciate the idea that the price of a product is determined by how much money is chasing it. Unfortunately, there isn’t a lot of money chasing Phoenix area homes priced above $346,250 right now. Jumbo Loans Jumbo loans in Maricopa County, Arizona [...]

I didn’t realize that having a foreclosure could affect your employment! It can, according to this comparison of the consequences between having a foreclosure versus a short sale on your record. Arizona Short Sale Specialist Realtor Let me know if you’re looking for a Realtor who specializes in representing sellers doing short sales. If you [...]