market: Phoenix Real Estate Blog: How the Foreclosure Crisis Has Spread through the Housing Market - 06/04/08 03:43 PM
I was struck by a string of articles around the country that summed up pretty well how the foreclosure crisis has spread throughout the housing market:
The Wall Street Journal: Number of Foreclosed Homes Keeps Rising
The Chicago Tribune: Break for sellers: Banks settle for less
The Arizona Daily Star: Foreclosures … (0 comments)
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market: Phoenix Real Estate Blog: Are we there yet? - 05/14/08 11:45 PM
It’s the scourge of the family car vacation: the nasally voice coming from the back seat, waaaaaaaayyyy too often, asking “Are we there yet?” And you’ve only rounded the corner out of your neighborhood. It’s going to be a long drive. . .
I feel like that now, only it’s all … (3 comments)
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market: Phoenix Real Estate Blog: 3 tips for finding your dream home on the Internet - 05/14/08 11:42 PM
An article last week at U.S. News and World.com offered six secrets for Internet home buying. Well, not home buying exactly, more like home searching. From the story:
“As the real estate industry grows increasingly Web-savvy, house hunters can now scour through neighborhoods, inspect front porches, and even peek inside … (0 comments)
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market: Proposed bill would require Arizona loan officers to be licensed - 05/10/08 05:48 PM
The Arizona legislature has proposed legislation that would require loan originators – the people consumers deal most with during the mortgage application and writing processes – to be licensed and to participate in continuing education.
Arizona’s Department of Financial Institutions (DFI) regulates three mortgage lending positions: commercial mortgage bankers, mortgage … (3 comments)
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market: To own or to rent? What would Hamlet do? - 05/10/08 05:47 PM
Originally, I titled this post, “To own or to rent? That is the question.” But that sounded far too cliché. So I modified the reference just a bit. Too cheesy? Or too opaque?
Anyway, there was an interesting post on Zillow the other day about how to decide whether to rent … (0 comments)
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market: There’s No Excuse to Be Bored! Fill Up Your Calendar with Great Things to Do in Phoenix in May - 05/04/08 11:05 PM
It’s hard to believe that it’s already the first of May! It seems like just yesterday that I was blogging about New Year’s resolutions.
As the weather heats up, some of us have a tendency to hole up inside. But don’t! There are so many fun, interesting – and cool! … (0 comments)
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market: Tips for foreign buyers and sellers who want to attract this new market - 05/04/08 11:04 PM
A quarter of U.S. Realtors report more foreigners are buying real estate here, according to a report issued by the National Association of Realtors (NAR) in June 2007. Now, the number of foreign buyers is likely to be even higher as the dollar continues to weaken relative to foreign currencies.
… (0 comments)
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market: The value of home ownership: the power of leverage - 05/04/08 11:01 PM
There’s been some controversy about market information put out by the National Association of Realtors (NAR). I blogged about one scathing criticism of an NAR commercial earlier this year. Yet, the economists at the NAR are still the leading providers of information about housing markets across the country.
The fact is … (2 comments)
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market: Forget saving money, is walking away the right thing to do? - 04/25/08 01:12 PM
A recent article in the Arizona Republic about “jingle mail” – when homeowners simply mail the lender back the keys to the home and walk away rather than struggle to pay the mortgage – got me thinking: are there any situations in which walking away is really a better choice … (6 comments)
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market: Arizona ranks 4th among top 10 foreclosure states - 04/25/08 01:11 PM
According to a recent U.S. News and World blog post, Arizona ranks fourth among the top 10 states in terms of foreclosures per household in March. The list, which was actually compiled by Real Estate Bloggers, is:
While 1 in 139 homes in foreclosure is surely very high compared to … (1 comments)
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market: 4 steps to a better mortgage - 04/23/08 11:44 AM
A recent survey by Zillow.com found that U.S. adults spend about 40 hours shopping for a home, 15 for major home improvements, 10 for a car, 8 for a mortgage or home loan, 7 for a vacation, five for a computer, and about four for a television.
What’s wrong with … (1 comments)
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market: Crazy neighbor in Phoenix makes national headlines: What it means for you as a home buyer or seller - 04/23/08 11:41 AM
Phoenix made national headlines last week as a homebuyer takes his new home’s seller to court over a really obnoxious next-door neighbor.
Here’s the gist, from Good Morning America’s segment on the story last Wednesday:
Glenn Melton purchased a modest home in Phoenix in 2005 for his college-aged daughter. She … (3 comments)
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market: Feeling “trapped” in a housing market that’s on fire – and not in a good way - 04/23/08 11:38 AM
They say that art imitates life. It’s certainly true of newspaper cartoonists – not the kind you see in the “Funnies” section, but the kind you see on the editorial page. They take often serious topics and bring out the humor – however dark – in them. Sometimes, it’s just … (0 comments)
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market: Once Upon A Time: The Story of the Housing Bust, Subprime Meltdown, and Credit Crunch - 04/11/08 12:56 AM
I know I’m a little late to the game, here, but I’ve been meaning to write a post about a great article in the New York Times for a while now. It’s from March 19, but it’s so good I’m going to write about it here anyway.
So the article … (0 comments)
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market: How the Phoenix-area real estate market is like my backyard, or, how the real estate market could turn around this spring - 03/05/08 11:13 PM
Happy March! It’s hard to believe that it’s already time for spring pruning – how the time flies.
I was out in the yard this weekend, pruning the dead branches and leaves and I thought about how my yard is kind of like the Phoenix area real estate market (I know, … (0 comments)
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market: The Phoenix economy's undercurrents remain strong -- solid employment numbers are just another example - 11/28/07 12:20 AM
November 21, 2007
Last Thursday, the Arizona Department of Economic Security released its November employment report, which showed that Arizona hit a record 2,737,500 nonfarm jobs in October. The unemployment rate in the Phoenix metro area is 3% -- below the statewide average of 3.5% and dramatically lower than the … (1 comments)
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market: Q: How do we get back to normal? A: Get rid of that excess supply. - 10/30/07 11:40 PM
October 29, 2007
What to do about all of the unsold homes?
The bottom line, we’re beginning to realize, is that builders and individual home sellers will have to cut prices dramatically in order to clear the excess inventory of unsold homes on the market right now.
The light at the … (3 comments)
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