Eric Karlene

Eric Karlene

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

Blog

9/22/2021 Market Update

By Madison Blean-Jenson - September 22, 2021
    Looking at housing, things look good and the market is attempting to normalize, but we do not see the whole picture. Wall Street, federal policy, a worldwide pandemic, labor, and supply chain shortages also impact housing. But there is still more to consider: the intense and seemingly ever-increasing battle between the Department of Justice (DOJ) and the National Association of Rea

09-16-2021 Market Update

By Madison Blean - September 16, 2021
9/15  Market Update   Real estate creates wealth. It has created long-lasting, multi-generational wealth, and it has done the opposite. Why? Appreciation. Home price appreciation, overtime, benefits everyone.   There is a lot of talk about softening, normalization, moderating, weakening, etc. They all mean the same thing; the real estate market is calming down. But before you exh

9/9/2021 Market Update

By Madison Blean - September 09, 2021
9/9 Market Update   Inventory levels are up but not enough. Home price appreciation is starting to slow but not by very much. Mortgage rates remain low, but did everyone refinance last year? Conditions are improving but the market isn’t healthy, yet, but it is on its way. Remember when 8% appreciation was a lot? 2018 and 2019 each had 8% appreciation. That feels like a lifetime ago.

9/3/2021 Market Update

By Madison Blean - September 03, 2021
9/3 Market Update     Residential real estate pulled our economy out of the shortest recession in history. As last year’s market frenzy cools, the severe imbalance of supply and demand lessens and prices continue to increase, just at a slower rate. According to the 2020 US Census, housing units increased by 6.7% while population grew by 7.4%; both were declines from previous dec

8/25 Market Update

By Madison Blean - August 25, 2021
8/25 Market Update     Today is all about the AZ Market     Supply & Demand: Supply is all of the properties; demand is all of the humans. The relationship between supply and demand dictates pricing in all sectors. There are influences that solely impact supply or demand, but those influences do not directly change sales prices. Mortgage interest rates influence dem

8/13 Market Update

By Madison Blean - August 13, 2021
8/13 Market Update     It’s earnings season so the headlines are dominated by big business quarterly revenue numbers. Wall Street and residential real estate have a bumpy history. In 2011 the market bottomed with a median sales price of $107,000 in greater Phoenix. Since 2014 we have been in a seller’s market and the recovery was slow. For a time, real estate felt local a

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

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

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

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