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1/8 Market Update

By Madison Blean w/ Lawyer's Title - January 08, 2021
1/8 Market Update Looking back at 2020, no one expected residential real estate to be the sector to save our economy. The years of under-building came to a head as demand increased fueled by record-low mortgage interest rates. Existing homes appreciated by 17% in Greater Phoenix. “Nothing sells like a shortage. We have underbuilt new housing relative to demand for a decade. Building will h

12/11 Market Update

By Madison Blean of Lawyer's Title - December 11, 2020
12/11 Market Update   This week’s update is all about the AZ Market Employment: The national unemployment rate through November is 6.7%. The Arizona unemployment rate through November is 8%. After running lower than the rest of the country through October, we had some slight gains in unemployment. The Cromford Report called it a stutter step. There was a short recovery for some and

12/4 Market Update

By Madison Blean of Lawyer's Title - December 04, 2020
12/4 Market Update Economists, government officials, and health professionals are preparing for a rough winter and then a very promising spring/summer. What does that mean for real estate? Not all experts agree. Let’s talk about 2021 projections. National Real Estate: At 6.85 million, 2020 is expected to have 3% more existing home sales than in 2019. (would you have believed that in May?!

11/20 Market Update

By Madison Blean of Lawyer's Title - November 20, 2020
11/20 Market Update To say that these are times are weird would be an understatement we have confusing elections, a worldwide pandemic, high unemployment, and the residential real estate sector is supporting the US economy. “Pending contracts are up strongly, implying that this winter may be one of the best winters for home sales activity. I mean, it’s not going to be spring or summe

10/20 Market Update

By Madison Blean of Lawyer's Title - October 20, 2020
10/20 Market Update   Residential real estate is outperforming the rest of the economy. The strong market going into the pandemic combined with historic low interest rates enabled to us to get here. We learned that these low rates trump COVID and our home is our castle. Despite the unexpected growth we are experiencing today, many experts are seeing warning signs around future affordability

9/30 Market Update

By Madison Blean w/ Lawyer's Title - September 30, 2020
9/30 Market Update   As we approach the 4th quarter new and/or updated projections for the coming year are emerging. Politics aside, nothing about 2020 has been predictable; economists and analysts struggle to make sense of it all. “The US economy and labor market are recovering from the coronavirus-related downturn more quickly than previously expected, economists said in a mont

9/24 Market Update

By Madison Blean w/ Lawyer's Title - September 24, 2020
9/24 Market Update   Let’s start with seemingly the most talked about topic right now, forbearance. Forbearance: Mortgages in forbearance dropped to 7.01% last week from 7.16% putting roughly 3.5 million homeowners in forbearance plans. (MBA) 9.48% of the forbearance exits were due to permanent loan modifications. (MBA) 33.69% of loans in forbearance are in the initial plan stat

Not Expecting This!

By Eric Karlene - September 22, 2020
  Seasonally things start to slow down a little bit after the kids go back to school. When I saw this report, I was actually surprised. I thought things would be leveling off. I follow the Cromford report daily to see what changes are happening in the market. This is what they posted today. "I have to admit I was not expecting the daily CMI chart to look like this: Having reached a pl

9/16 Market Update

By Madison Blean of Lawyer's Title - September 16, 2020
9/16 Market Update The intensity of today’s market is somewhat reflective of the 2005 housing market giving many people 2008 PTSD. Although the market may feel similar, in reality, it is very different. You must ignore the headlines and remember the media’s goal is to increase eyeballs for advertisers. Shocking stories sell. And you have to remember, every market is different. The Pho

Real Estate with Eric

By Eric Karlene - September 15, 2020

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