I love the succinctness of Michael Orr, founder of the Cromford Report.
From his Daily Observations (available only subscription):
February 18 – If you find yourself talking to someone who thinks prices are still falling, please feel free to hand them this chart.
According to my calculator, a median price increase from $108,000 to $120,000 in six months is an 11% increase. Huge!
If this pace continues over the next 6 months, that would equate to 22%.
Not so long ago, Michael Orr told me he thought we’d see as much as 25% appreciation in the near future. Have to say that I didn’t fully believe him, but it looks like he was right on target.
Scottsdale has more than its fair share of beautiful homes. If you’d like to take a quick look at what a million dollars will buy you in Scottsdale real estate, I invite you to my Facebook page for At Home in Scottsdale.
If you haven’t “Liked” my Facebook page before, you’ll have that option. Once you Click the Like button, you will land on a page with links to million dollar homes in downtown, central and north Scottsdale.
And, if you’ve already Liked my Facebook page, just click on the Welcome tab in the left hand column, and go to the same million dollar listings page.
Easy. Always available. And current, with only property listings that are really still on the market.
The Arizona Regional MLS (ARMLS) publishes a monthly view tracking REALTOR® confidence of Phoenix Metro real estate market confidence, as compared to the past and to future expectations.
The results of this survey are the result of “the firsthand, up close observations of REALTORS® who operate at the front line of real estate in the Valley”.
The survey results are based on the following six survey questions:
What is your appraisal of currentreal estate conditions in the Valley compared to six months ago?
What is your expectation of real estate conditions in the Valley six months from now?
What is your appraisal of currentbusiness conditions in the Valley compared to six months ago?
What is your expectation of business conditions in the Valley six months from now?
What is your appraisal of currentemployment conditions in the Valley now compared to six months ago?
What is your expectation of employment conditions in the Valley six months from now?
As you can see, local REALTORS® are definitely high on Phoenix Metro real estate with all indicators rising strongly for the past five months zeroing in on the 90% range.
We have gorgeous weather in Scottsdale, and the white heron obviously agree. Yesterday morning was a bit cooler than usual, about 41° F, and the McCormick Ranch Golf Course lakes were steaming. I wondered down with my camera, and as I came over the crest of the hill, it was really clear that the heron have landed. They seem to be here pretty much year-round, but rarely have I seen the flock so big.
Gorgeous birds, aren’t they? And a lovely sunrise, too.
Today, the state of Arizona is 100 years old, and I’d like to share a fun little tune about Arizona I recorded yesterday at a class I took on Arizona history. Ken Bennett, Arizona’s Secretary of State, took the stage at the beginning of class and shared his thoughts!
Pretty amazing, but if you talk to any working Realtor, you’ll hear the same story. Lots of buyers and not enough homes on the market to satisfy the demand.
Dru did a first class job, not just because the property sold (in a terrible market), but in her communicating the various nuances of the sale ... more
5.0/5.0
by M.J.CUNNINGHAM
90978
It was such a pleasure to work with Dru in selling our house. She was very knowledgeable with the process and was on top of every detail. She returned ... more
5.0/5.0
by Henry Y
41760
Dru wa a pleasure to work with, professional, knowledgeable, focused and quickly responsive. Being from Indiana we had very limited time constraints, ... more
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