Phoenix Real Estate Market Up for 6th Straight Month - 02/19/10 11:38 AM
News headlines recently have wondered whether housing market really have firm footholds in recovery. Only time will tell for sure, but markets across the country, including the Phoenix real estate market, continue to show signs of increasing strength. According to the widely used S&P/Case-Shiller Home Price Index, last released on January 26), housing prices – in Phoenix and around the country – continue to improve.
Some highlights from the report:
Month-over-month housing prices rose in the Phoenix real estate market for the 6th straight month. Comparing to a year earlier, Phoenix home prices are still down, but those declines continue to … (1 comments)

Are Bank-owned Homes in the Phoenix Real Estate Market Really a Bargain? - 02/16/10 09:24 PM
It’s a question that has been much debated here on ActiveRain and elsewhere: Do Phoenix foreclosures sell for less than non-foreclosure properties? And, do foreclosures pull down housing prices in the Phoenix real estate market (so that non-foreclosure properties also have to sell at foreclosure prices)?
The answer is resoundingly: No. While it may seem intuitive that if one Scottsdale bank-owned home sells for $340,000 that a comparable home a block away would also sell for $340,000, even if it is a traditional sale. Not so, say real estate experts (and they’re backed up by the numbers).
In the Phoenix real … (1 comments)

More Phoenix Real Estate Strategic Default News from Bob Stahl - 02/10/10 06:21 PM
Will the strategic mortgage default trend continue? Will it accelerate? What will the effect be?
The latest Phoenix foreclosure report showed that the Phoenix real estate market seems to be rounding the corner in terms of the number of foreclosures, though I predict a new wave of foreclosures in higher-end markets, like for Scottsdale homes. But given that the number of Phoenix foreclosures is still relatively high, what does that portend for strategic defaults?
Lenders have long since gotten tougher on homeowners who have foreclosures or short sales on their records, and the FHA recently announced new changes in its rules … (0 comments)

Phoenix Real Estate Market Set Foreclosure Record in 2009 - 02/09/10 09:01 AM
The Phoenix real estate market had an all-time record number of foreclosures in 2009 – 41,000 Phoenix foreclosures represented 35% of the existing home sales last year. That might sound like bad news, but it’s done a lot to get rid of some of the excess inventory of unsold Phoenix homes. As that inventory continues to shrink, we get closer to a place where supply equals demand (and then Phoenix home prices resume their typical appreciation).
Already, in 2009 Phoenix real estate prices rose month-over-month, from $131,000 in October to $135,000 in November. That’s still down about 12% compared to 2008, … (0 comments)

 
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Bob Stahl

Phoenix, AZ

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Keller Williams Arizona Realty

Address: Scottsdale, AZ, 85258

Office Phone: (480) 767-3000

Cell Phone: (602) 318-1114

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Knowledge is power. In that spirit, the MyPhoenixMLS Phoenix Real Estate Blog covers everything that's Phoenix-area real estate, with the goal of helping buyers and sellers navigate the market.


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