Arizona Real Estate Notebook

Calculated Risk had a “Good News” post on the U.S. economy, and there does seem to be a lot of good economic news lately, or really, less bad economic news lately. Calculated Risk is forecasting 3% growth next year while economist David Rosenberg is talking about half that. FYI: Calculated Risk is not known as [...]

I don’t buy into David Rosenberg’s deflation view but as time goes on I’m considering it more and more seriously. The video of David Rosenberg below is from WealthTrack. Talking Points The previous recession was a corporate balance sheet recession. This one is a household balance sheet recession. Corporate balance sheets are, in fact, the [...]

And a quick tour gave me the impression that the median home price was drifting lower in several zip codes. This is in despite of the fact that the median home price for Maricopa County as a whole was flat in October. I’ll do a more in depth analysis later. (Back to baking pies!)

Mentioned Home Sale News Arizona Real Estate Notebook

Phoenix Early Recovery? That “less” part is a nice change. Could this be more evidence that Phoenix has already gone through most of the pain and the Phoenix real estate market will be one of the first in the United States to rebound… someday… eventually… maybe… hopefully? From the Phoenix Business Journal. Phoenix-area home prices [...]

From CNNMoney.com. The Federal Reserve slashed its outlook for the U.S. economy for this year and 2011 and projected that it could take several years for the economy to return to health. According to minutes from the Fed’s November 3 meeting released Tuesday, more than half of the central bank’s policymakers thought it would take [...]

Why “Average Days on Market” is a TERRIBLE metric There are tons of examples of Arizona home sellers turning down early offers only to end up selling many months later for far, far less than the offers they rejected. This video explains why. A key for successfully selling your Arizona house is to find a [...]

Home Seller Tip Heather Barr points out that nationally; Half of all listings had a price cut in October and The average cut was 7.5%. On Price Reductions I’d like to emphasize to home sellers that you want to make a least a 4 to 5 percent price reduction or the price cut will be [...]

What Not To Do When Selling a Scottsdale House I don’t know if the video does a very good job of explaining how much money Scottsdale home sellers lose when they focus on “Average Days on Market” as being the normal amount of time they can expect it to take to sell their house. Home [...]

“The Jumbo-Mortgage Comeback; Some Areas Are Seeing the First Signs of a Resurgence in High-End Home Loans,” WSJ.com. Jumbo mortgages are those that are too big to be bought by government-backed agencies such as Fannie Mae and Freddie Mac. The limits vary by region, though they generally are mortgages that exceed $417,000 The average jumbo [...]

David Rosenberg in Business Insider. Through its actions, the Fed creates excess reserves in the banking system. But with one-third of the household sector gripped with a sub-620 FICO score, 1-in-7 mortgage debtors are either in arrears or in the foreclosure process, and with an estimated 25% of homeowners “upside down” in their mortgage (negative [...]