Earlier this week, I read the Phoenix Real Estate Market by Tom Ruff on the John Hall & Associates blog. Lots of good info that validates some of my experience with lender owned properties over the past month, plus brings to light some additional encouraging news about our local real estate market. Phoenix area home sales are up. [...]
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Real Estate
I’m a geek. The first time I got to work with computers, I was absolutely fascinated. The year was 1971, and I was a student at the now defunct East High School (in the Phoenix Union High School district). We wrote programs on punch cards, mailed them into the district, and got our print outs [...]
Here’s one of those striking examples of why investors are once again flocking to Phoenix. One zip code in east Phoenix. Can you believe that the median sales price this past couple of months is barely over 50% of what it was in 2002? Amazing.
Today’s Cromford Report on Lender Owned Properties shows a changing scene. Basically, bank-owned properties are selling at a very high rate, and new REO properties are not coming to market fast enough to meet demand. Prices have dropped pretty dramatically over the past two years. Maybe with this decreased inventory (listings), we will begin to [...]
Michael Orr, creator of the Cromford Report, was featured on the front page of the Arizona Republic yesterday. I’ve been an avid fan of Mike’s statistical reports and use his data often. Today, I asked if I could post his preliminary March report in full, and he gave his permission. As you will see, it’s chock [...]
I’ve been talking to lots of people lately. Meeting new folks, who are not necessarily in real estate and get their information from the news, mostly. And, once they find out I’m in real estate, they offer condolences and then start pumping me for information. People do love real estate, and they do love a [...]
