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2/22 Market Update

By Madison Blean w/ Lawyer's Update - February 22, 2021
2/22 Market Update Low-interest rates keep housing demand high while available supply continues to dwindle. Today’s market is tough on buyers yet it is still a great time to buy; so we must continue to encourage them. And we must do the same for the sellers as well. Stories of 75 offers in one weekend or a fixer selling as-is for $50,000 over asking come almost daily. Real estate is not fo

2/2 Market Update

By Madison Blean w/ Lawyer's Title - February 02, 2021
2/2 Market Update The frequency in which we are asked, “Is real estate headed for a crash?” seems to be increasing. Given the enormity of uncertainty we have lived with for nearly a year, the question isn’t surprising. Things are going well in real estate and with the limited good news, it is easy to wonder when the other shoe will drop. Research professor, Dr. Brene Brown, cal

What Record-Low Housing Inventory Means

By Eric Karlene - February 02, 2021
What Record-Low Housing Inventory Means for You   The real estate market is expected to do very well in 2021, with mortgage rates that are hovering at historic lows and forecasted by experts to remain favorable throughout the year. One challenge to the housing industry, however, is the lack of homes available for sale today. Last week, the National Association of R

1/26 Market Update

By Madison Blean w/ Lawyer's Title - January 26, 2021
1/26 Market Update Are we going to run out of houses to sell? Are we going to have a foreclosure crisis? What about all of the looming evictions? V shape, K shape, policy, stimulus, unemployment, vaccines, why can’t my buyer find a house? Between the emotional exhaustion and pandemic fatigue making sense of today’s real estate market is difficult at best. Add in some misleading headl

1/19 Market Update

By Madison Blean w/ Lawyer's Title - January 19, 2021
1/19 Market Update Today is all about the AZ market. Employment: The national unemployment claims through December increased slightly. Not enough to change it from 6.7%. Last week’s preliminary numbers show another increase in initial claims. The people with the lowest levels of education and the lowest income earners are struggling the most. Unemployment is impacting landlords and rente

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

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