The media talks about the hot Phoenix real estate market, yet most home sellers I meet are still operating from a perspective that no one is buying homes these day, because the market is so bad! However, any home buyer will tell you, it’s a battle out there. Multiple offers are common in the lower [...]
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sellers market
If you planning to purchase a home before the $8,000 tax credit deadline hits, or you’ve had your eye on the luxury market, you need to know where you stand as you craft your offer to purchase real estate in Scottsdale, or any of the surrounding cities. If you are looking for a home priced under [...]
More evidence of our changing real estate market: The Cromford Report has defined Contract Ratio as follows: Contract Ratio indicates how "hot" a market it. It specifically measures the number of active sales contracts under negotiation relative to the supply of active listings. It is defined as 100 x (Pending Listings + Active Listings with [...]
The generally accepted definitions of a buyer’s or seller’s market in real estate: More than 7 months of inventory (listed homes for sale) is a buyers’ market. Five to seven months is a balanced market. Five months or less is a seller’s market. From the looks of this chart (data courtesy of the Arizona Regional MLS), we [...]
