National Real Estate: Residential real estate is providing the most significant boost to the economy. While other industries struggle residential real estate is going gangbusters and is a part of the solution. “Perhaps in the middle of 2021, we will have more semblance of a balanced market.” Dr. Lawrence Yun, NAR … [Read more...]
Brokerage Survey: 45% of Contracts Are ‘Sight Unseen’
Virtual tools have helped home buyers feel more comfortable shopping online to choose a home and even make an offer, without first stepping inside. The real estate brokerage Redfin says the trend of “sight unseen” offers is reaching record highs. Redfin reports that 45% of its consumers who purchased a home in the past … [Read more...]
Debunking 3 Coronavirus Real Estate Myths
Some Americans may be under the impression that high unemployment rates and recession are prompting a gloomy housing picture. They’re wrong. Home buyers may be in for a surprise, and homeowners may be missing out on opportunities if they fall for some common myths going around about the housing market. Consider these two … [Read more...]
Two Reasons We Won’t See an Increase of Foreclosures This Fall
The health crisis we face as a country has led businesses all over the world to either reduce or discontinue their services altogether. This pause in the economy has greatly impacted the workforce and as a result, many people have been laid off or furloughed. Naturally, that would lead many people to believe we might see a rush … [Read more...]
Welcome Back: Weekly Contracts Up 40% in 4 Weeks!
For Buyers: Greater Phoenix contract activity dropped 39% over the course of 6 weeks between March and mid-April. The effects of those declines are now being reported over a month later as a 31% decline in closed sales. This isn’t surprising, you can’t close what was never opened. But that’s already old news, what isn’t … [Read more...]
Arizona Real Estate Market Update as of 5/15/2020
Over the past 2 weeks the CEO’s of Realogy, Zillow, Redfin, RE/MAX, Keller Williams, and eXp all stated their confidence in the real estate market and expect continued increases in demand. Sellers are selling and buyers are buying. We are still not out of the woods yet and we do not know what will happen tomorrow, but there is a … [Read more...]
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