Eric Karlene

Eric Karlene

SA630328000 Certified Distressed Property Expert English
11211 N. Tatum Boulevard Ste. 120 Phoenix AZ 85028
(602) 492-2897

Blog

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

There Really are Fewer Homes for Sale

By Eric Karlene - May 06, 2021
You’re not imagining it: there really are fewer houses for sale. Today’s low housing inventory is the result of several major factors, but you can still find homebuying success in this market with the right expert guidance. DM me to get answers to your questions and build the best plan to find your dream home this year.  

4/29 Market Update

By Madison Blean w/ Lawyer's Title - April 29, 2021
4/29 Market Update   The pandemic created involuntary savings. People simply couldn’t spend the way they had in the past, and all of a sudden they had money for a down payment. Along with historic low mortgage rates and the ability to work remotely; the extra savings enabled super strong demand. As the economy opens up and people are able to spend their money on more services like con

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