Single-Family Housing Starts fell for the second consecutive month, dropping to a seasonally-adjusted, annualized 417,000 units in August 2011. A “Housing Start” is defined as a home on which ground has broken. We shouldn’t put too much faith in the findings, however. Although housing starts were lower last month, as noted by the Census Bureau, the margin
Home Affordability Rankings for Arizona
Home affordability slipped slightly last quarter, dragged down by rising mortgage rates and recovering home prices in Arizona and nationwide. The National Association of Home Builders reports a Q2 2011 Home Opportunity Index reading of 72.6. This means that nearly 3 of 4 homes sold last quarter were affordable to households earning the national median income of
September Market Report for Phoenix
Market data for the beginning of September from The Cromford Report’s shows more encouraging signs. It shows a slight softening in demand and pricing in the middle and upper end of the market, but increasing demand and price stabilization in the lower end. We always have to look at things on both a macro and
The good, the bad, and the ugly of house flipping in Phoenix
Before showcasing the next featured property, an affordable and green remodeled home in Phoenix, I thought it would be good to elaborate on the diverse mix of fix-and-flips in our market and my feelings towards each. Attractive home prices in Phoenix have caught the attention of several investors who have subsequently entered into the business
One way it’s different this time
Those of us in Arizona can still recall those days when real estate prices were booming back in 2005/2006, and it seemed like prices would never go down. The out of control and unsustainable rise in home values and subsequent bust, was a factor of many things…to include poor lending practices by banks, over speculation
Tips for Choosing Your Real Estate Partner
As anyone who’s ever listed a house on the market can tell you, finding a real estate agent isn’t hard. Finding the right one is hard. With so many agents vying for your time and money, how can you pick the right one for your home and situation? Here are a few tips to get
West 6th Tempe Open for Business
The high rise development project located steps off Mill Avenue formerly known as Centerpoint Condominiums has finally opened its doors. Residents have just begun moving into tower one, six years after construction first began and after three years sitting at a standstill symbolizing one of the greatest real estate boom and bust cycles we have ever seen. This
Market Report August 2011
The Cromford Report has some interesting data on the Phoenix real estate market as usual. While prices still appear to be “bumping along the bottom” ,and the existing median home sale price still remains around $110,000 where we’ve been since December 2010 , we are increasingly moving into a seller’s market territory. In a seller’s
