December Market Report
For Buyers: Affordability is determined by 3 things: family income, 30-yr mortgage rates, and sales price. Price is not the only factor that needs to change to push affordability back…
Blog about the latest news in Rio Verde
November Market Update
News for Buyers: Greater Phoenix as a whole has been in a balanced market since August but was expected to glide into a buyer’s market by mid-November. The only holdouts…
October Market Report
Buyers:The price reductions continue. Last week when mortgage rates hit 7.0%, the Greater Phoenix housing market responded with 4,427 price reductions, 24% of all active properties in the MLS. At…
September Market update
Zillow is reporting this August that the softer demand from buyers contributed to the largest monthly drop in home values, 0.3%, since 2011. Appreciation has receded since peaking in April,…
August Market News
August Market Tid-Bits: News for Buyers: The number of closings with seller-paid closing costs rose 27% in July compared to June equating to 7% of all closings for the month…
July Market update
July Market tid-bits: The market is entering a period of recalibration with rising interest rates and the impact on affordability:The percentage of active listings with price drops reached 44% in…
June Market Update
What we are seeing that indicates the market is slowing or becoming more “balanced”: Sellers are starting to offer concessions to buyers, median days on market have moved up, months…
Eye in the Sky: Use of surveillance devices during home showings:
More homes are now equipped with in home surveillance devices recording video and audio in the home. What does the law say about this practice of what some would call…
March 2022 Market Report
The FED pushed rates to their highest levels in 3 years. Keep in mind that the low rates we’ve seen over the last 2 years were not normal and were the…
February Market updates
MARKET UPDATE JANUARY 2022 FROM TOM RUFF, ARMLS: One of the things I do each month before writing STAT is to go back and review our commentary from the prior…
