News Category

Jan. 10, 2016

Record Breaking Rents and Phoenix Home Values

U.S. apartment rents leapt at the fastest pace since the real estate crisis of 2007. The average apartment rent now stands at nearly $1,180, up from about $1,125 a year ago, a gain of 4.6%. 

The vacancy rate is now down a whopping 45% from ...
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Dec. 19, 2015

How The Rise in Interest Rates Will Affect Paradise Valley Real Estate

The Federal Reserve's 1/4 point interest rate hike was the big economic news around the planet, affecting bonds, currencies, commodities and stocks immediately.
How will it affect real estate? The most likely consequence is the opposite of what most people expect: the rate hike will actually driveup ...
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Dec. 12, 2015

Paradise Valley Real Estate at Year's End

Year end is always a very slow time for real estate. People are simply too busy to think about real estate, with family and social gatherings. 
Would you be briefly inconvenienced to save hundreds of thousands of dollars?
The home that sells for $1.8 million in January may ...
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Nov. 28, 2015

Real Estate Values Now vs. Peak

Longtime readers know my thoughts on the current run up in real estate prices versus the last cycle: now we are supply constrained, whereas before we had excess demand driven by insane credit. 
 
A recent article in the Wall Street Journal explores where we are in the ...
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Nov. 21, 2015

Robot Homebuilders, Co-Signing Jumbo Loans, and Off Market Properties

The future is here: a robot is laying 300 bricks per hour, which is three times the human rate. They believe the next generation will go to 1,000 bricks an hour, 10x what humans can do. Full coverage on this story is here.
Between robots, and 3D printing of ...
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Nov. 7, 2015

Seasonal Fluctuations in Paradise Valley Real Estate

There are seasonal fluctuations in real estate all over the world, and Paradise Valley is no exception. Historically, our seasonal fluctuations have been more exaggerated than most other parts of the USA due to the large percentage of seasonal residents.
November and December are historically the slowest months. Everyone ...
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Oct. 3, 2015

New Federal Regulations Impact Paradise Valley Real Estate

As of today, all real estate transactions in the United States are undergoing a major change, including of course Paradise Valley.
Specifically, the closing process and lender requirements have been subjected to the largest overhaul in decades, mandated by the US Government. 
If you've bought or sold ...
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June 13, 2015

Paradise Valley Mortgage Update

There are two noteworthy developments in the mortgage market this week:
 
1. Rates are rising. The average on the 30 year fixed mortgage has broken above 4% for the first time this year. Most economists are forecasting higher rates over the next year. To be fair, though, a lot ...
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June 6, 2015

A Tale of Two Markets in Paradise Valley

Looking at this week's closings, there's valuable information lurking beneath the averages. The average house in Paradise Valley that closed last week was on market 91 days. That's pretty healthy considering that PV has the most expensive real estate in Arizona.
 
Here's where it really ...
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April 17, 2015

Nationwide Shortage of Homes?

We have a reasonably balanced market right now in Arizona, but around the country there is an outrageous level of competition for homes. I hear it from agents around the country, and this article in the Wall Street Journal highlights just how intense it is.
 
Days on Market is ...
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