People trying to sell a home today ask me, “Why do I have to sell such a low price”?
The answer is at once simple and complex. The Phoenix AZ market is currently driven by the lenders selling foreclosed properties. In addition, there are many people who face foreclosure. Currently there are over 40,000 notices of [...]

The Phoenix area real estate is rising from the ashes just like its namesake, the mytical bird.
The lowest priced homes, under $100,000 are selling withind a few days, often with multiple offers.
Bank owned homes, (REO) ar also selling very well. REO new listings have been averaging 4,000 per month. Pending sales in this category are [...]

Pending home sales are up 7% nationwide.
Credit Suisse reports real estate buyer activity is up 20-28% in the Phoenix market. Much of the activity is first-time buyers and investors. I have said often it is the first-time buyer who will lead the way and get us out of this recession.
Investors are paying CASH. It is [...]

The Consumer Confidence Index improved 14% over the low in February. I have said for a year that confidence, more than anything else except affordability creates housing demand. Both measures are excellent today.
Nationally and locally, resale inventory is dropping(5% in the Phoenix metro, I’ll post June 1 with more detail on Sun City Neighborhood and [...]