Arizona Real Estate Notebook

Find your zip code in the sidebar and click-through to see the latest week of homes sold in your zip code.

Find your zip code in the sidebar and click-through to see the charts updated with April data and the latest week of homes sold. Look at a few zip codes to see what’s happening in your area. Conclusion Metro Phoenix homes sales were very strong in April but metro Phoenix home prices didn’t really move. [...]

Mike Orr of the Cromford Report tweets, “ARMLS active inventory down to 131 days (based on annual sales rate). This is lower than we saw in May 2002, during the last ‘normal’ year.” Here’s the chart Mike’s looking at. I think I see a trend this year. Note: The purple line is 2002.  The other [...]

With 45 homes sold in one week in May, the Paradise Valley market is hitting notes not reached since 2005. Mike Orr of the Cromford Report tweets, “ARMLS sales numbers taking off in Paradise Valley – latest monthly rate of 45 exceeds all prior records for week 19 (May)” That’s a little misleading because many [...]

One of my favorite commenters on this blog, emailed to ask why I no longer allow comments. That’s a good question I’ve been meaning to explain here. Are Blog Comments Useful? I was doing a makeover of this blog/website anyway and I had long doubted the usefulness of comments. I had some very intelligent commenters [...]

Okay, this has little to nothing to do with residential resale real estate but I find it fascinating to see what homebuilders are paying to borrow money. From the incredible John Burns of John Burns Real Estate Consulting; Construction Debt: Recourse and non-recourse debt is available, and priced according to risk. Bank of America has [...]

Find your zip code in the sidebar and click-through to see the latest week of homes sold.

In the email; Thanks for your RE Notebook updates. Every little bit of positive (or even reasonably )news is welcome, but it seems there are so many headwinds to any significant near term recovery or any substantial increase in values that it might be time to go back to the old model (pre-1970) of “buy [...]

Dr. Jay Butler of Realty Studies at Arizona State University came out with his Phoenix area residential real estate sales and median home price numbers for April 2011. For the second month in a row, the hard-hit Phoenix-area housing market saw a drop in the foreclosure rate. A new report from the W. P. Carey [...]

CLICK HERE to see the full MLS report on Phoenix MLS Statistics for May 2011. Comments on May 2011 Metro Phoenix MLS Report

My Realtor friend Dru Bloomfield (we went to the same grade school!) has this exactly right; Scottsdale short sales and Scottsdale vacation homes are a perfect match. Read her post to find out why.

Phoenix Realtors get access to the wonderful data-packed Cromford Report as one of their MLS membership benefits. If you aren’t a Realtor or if you are a Realtor but you didn’t catch the latest from my other favorite real estate data geek, Mike Orr, take a gander at Mike’s commentary. All of these led us [...]

From Tom Ruff in The Cromford Report; A History of Boom and Bust I thought it would be interesting to take a historical look at new home construction in Maricopa County. A simple summation of the assessor’s file is shown in the graph below, showing all homes in Maricopa County by year built. As evident [...]

… it looks like we’re going to need a lot more luxury homes in Arizona. The Phoenix Business Journal writes; The number of wealthy households in Arizona is projected to reach 434,000 in 2020 — more than double the 2010 estimate of 166,000.

My conclusion at the end of the video may not be that satisfying to you but I think the graphs themselves tell the story. Paradise Valley and Scottsdale 85255 Home Price Trends