Eric Karlene

Eric Karlene

Certified Distressed Property Expert
Realtor
SA630328000

Blog

7/23 Market Update

By Madison Blean - July 23, 2021
7/23 Market Update   Real estate continues to normalize and shift from an extreme seller’s market to a less extreme seller’s market. Both the leading and lagging real estate indicators illustrate a slowly moderating housing market. The numbers show that things are changing, nothing is happening too quickly, so the movement is relatively healthy and going in the right direction.

7/8 Market Update

By Madison Blean - July 08, 2021
7/8 Market Update     The market is softening = slowing = normalizing = moving closer to balance which are all good things even though it feels weird. After the wild ride of 2020 and the nearly non-existent inventory levels of Q1 2021, the real estate market is working out its kinks. I have mentioned it before and will say it again, it is impressive what a person can get used to. We g

What Do Experts See on the Horizon for the Second Half of the Year

By Eric Karlene - July 06, 2021
What Do Experts See on the Horizon for the Second Half of the Year? As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon

6/30 Market Updates

By Madison Blean - June 30, 2021
Why Do We Have a Housing Shortage? From 2000 to 2009 we over-built for the population. From 2010-2020 we under-built for the population. In 2004-2006, speculation building on credit caused huge problems. When the lending dried up, we had huge price declines. This is not a gap that can be closed easily.   True demand is based on population. With 290 people moving here a day, we have the popu

Market Shifting

By Eric Karlene - June 30, 2021
A couple of weeks ago we commented that the rate of decline for the Cromford® Market Index was less than the rate of increase during the first quarter. This is no longer the case, as can be seen from the daily chart below: The CMI is now dropping quickly. The number of active listings is increasing by roughly 300 per week. The number of showings is in decline and the number of contracts ge

6/15 Market Update

By Madison Blean - June 15, 2021
6/15 Market Update   While today’s residential real estate market remains unhealthy (remember when 10% appreciation was a lot?), initial progress has been made. Prices are leveling off, supply is increasing, and immediate sales are declining. This is good for buyers, especially first-time homebuyers, who are the key to the real estate market. Without them, the machine stops.   N

June 2021

By Eric Karlene - June 14, 2021
Should Buyers Wait to Buy? Median Sales Price $390K, up 32% from 2020 For Buyers: There’s a lot of conflicting advice for buyers online these days, and there’s no shortage of headlines advising them to wait. Many authors cite the unpleasantness of multiple competing offers and rising prices as the reason to wait out the market. This is despite their acknowledgment that home values a

6/3 Market Update

By Madison Blean - June 03, 2021
6/3 Market Update   “Buy land, they’re not making it anymore.” ~Mark Twain   April saw its best sales rate in 15 years and at the same time sales declined again for the third straight month. Homes are selling faster than ever before, and prices are higher than ever before; yet the signs are all there, the market is slowing – very slowly – and just startin

5/19 Market Update

By Madison Blean w/ Lawyer's Title - May 19, 2021
5/19 Market Update   This week’s update is all about the AZ Market & a recap from Tina Tamboer with The Cromford Report from 5/12.   Inflation: According to Reuters, consumer price inflation increased by 0.8% from March to April, the largest increase since June 2009. It increased by 4.2% year over year, the highest since September of 2008. Experts blame supply chain c

5/7 Market Update

By Madison Blean w/ Lawyer's Title - May 07, 2021
5/7 Market Update   Logan Mohtashami recently wrote about why we are not in a housing bubble, “These Americans who are outbidding others and getting the home are doing very well financially. I am not talking about cash buyers or investors. I am talking about primary resident mortgage homebuyers. They have enough home-buying power to win the house. The market is unhealthy because we sh

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