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How Will the Presidential Election Impact Real Estate

By Eric Karlene - September 02, 2020
  The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last

8/31 Market Update

By Madison Blean of Lawyer's Title - August 31, 2020
8/31 Market Update Projections, forecasts, and predictions are educated guesses and are the only guides we have available today. Navigating uncharted territory without a compass is challenging at best. Nothing about this year’s real estate activity fits into the usual cyclical patterns. Data companies are updating their projections seemingly daily. Projections are based on trends and it tak

8/26 Market Update

By Madison Blean w/ Lawyer's Title - August 28, 2020
8/26 Market Update Economic Indicators: Many economists are calling this a K shaped recovery. That means that some are having a positive recovery or are fully recovered while for others the struggle continues to worsen. Economist and real estate consultant, Elliott Pollack calls it the “have and have not economy.” Those with jobs have saved money and are in good financial standing.

Market Update 8/11

By Madison Blean of Lawyer's Title - August 11, 2020
8/11 Market Update We know a lot more now than we did five months ago but a great deal remains to be seen and so much is still unknown.Let’s start with what we do know. Real estate is saving our economy. What We Know: Demand for real estate is intense all over the country and it is reflected in the 11% year over year sales price increase for the last week of July. The national median sal

8/6 Market Update

By Madison Blean of Lawyer's Title - August 06, 2020
8/6 Market Update Realtors, lenders, buyers, and sellers are exhausted. The Spring and Summer home selling season has been crammed into two months. Not to mention the worldwide pandemic, economic uncertainties, delays in school re-openings, and a heated political climate. To say that there is a lot going would be an understatement. Despite the stress of the unknown, we do know that real estate is

7/28 Market Update

By Madison Blean w/ Lawyer's Title - July 28, 2020
    7/28 Market Update There is definitely some irony in the fact that real estate caused the Great Recession and only 10 years later real estate is driving our current economic recovery. As we face our economic reality of today; we have to look at the good (real estate), the bad (employment struggles and school closures), and the ugly (unemployment). “While other segments of

7/22 Market Update

By Madison Blean w/ Lawyer's Title - July 22, 2020
7/22 Market Update Consumer sentiment has the greatest impact on our economy. It is more powerful than any piece of information or event, so let’s talk about the real numbers. For example, look at the second quarter stock market returns versus the economic data. Investors have no idea why the markets ended so well when there was so much bad news in every headline. The S&P 500 increased

7/19 Daily Observation

By Michael Orr - July 19, 2020
 At times like these, appraisers have a tough job. Prices have risen fast over the past few weeks but the comps that appraisers are looking at stretch much further back in time, including April, May and June, when pricing was much weaker. The result is we are seeing many more agreed sales where the appraisal comes in low. This can be frustrating for the buyers and sellers, causing some sales

7/13 Market Update

By Madison Blean w/ Lawyer's Title - July 17, 2020
7/13 Market Update “This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” NAR Chief Economist Lawrence Yun said, “This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.” I hope that real estate can continue to lead t

Contracts Accepted in 8 Days or Less Under $400K

By Eric Karlene - July 09, 2020
Top 5 Cities Selling Over Asking Price Contracts Accepted in 8 Days or Less Under $400K For Buyers: Greater Phoenix has a population of approximately 4.8 million people and 1.4 million single family homes, condos and townhomes in total inventory. As of July 8th, only 8,579 of these units were available for sale through the Arizona Regional MLS. If that number doesn’t cause you to gasp, th

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