Archives for December 2008

Looking Back at 2008 …

… not quite enough slides for everything, but you’ll get the idea. Thanks for a wonderful 2008 and we’ll see you tomorrow in 2009!

Waiting for Year’s End on Statistics

Normally I’d be posting absorption rate statistics but with the new year just two days away, I’m going to hold off until then. Admittedly, the numbers will skewer with the expiration of a couple thousand listings as 2008 closes, but the year-end/year-beginning numbers will be of greater benefit going forward. For those who can’t wait […]

Coming Up Next: Beagles Confess, “We Lied When We Barked Begging for Breakfast. We Already Had Eaten”

Here’s the cliff notes version of the story: David Lereah, one-time chief economist for the National Association of Realtors, told Money Magazine that he was spinning the home data that he reported during his tenure. If you look at my actual forecasts, the numbers were right inline with most forecasts. The difference was that I […]

How Far Down the Rabbit Hole Can Phoenix Real Estate Go?

Over the past three months, the Phoenix real estate market has accelerated from slowing down to a steep fall down the rabbit hole. The over-arching question is how much deeper into Wonderland can the market fall. And for this, I’m afraid there doesn’t seem to be an answer. Logic is on holiday. Those who argued […]

Saying Goodbye to an Old Friend

He’s been by my side since the very beginning, though he doesn’t look much like he did when we started four-plus years ago. More and more though, as 2009 approaches, he’s showing his age to degrees I can’t possibly ignore. No, not Tobey. Though he’s getting grayer faster than me. I mean my original real […]

Looking at Phoenix Bank Owned Homes? Get Serious

Today’s question … What are the chances that a bank owned home listed for $40,000 in more or less decent condition (taking into account its age and almost certainly writing off the appliances) actually will sell for that $40,000 or less? Slim and none, and slim just jumped on Phoenix’s new Light Rail (which opens […]

The New Wave of Real Estate “Professional” in Phoenix

Much is made in the online real estate world about the nearly non-existent barriers to entry that real estate agents face. This isn’t specific to the Phoenix real estate market but since that’s where I am, I’ll localize the issue. Back in 2005, any idiot could sell a home. Put the listing in the MLS […]

Phoenix Real Estate Inventory Update – December 24

When all is said and done, Real Estate 2008 might best be remembered as the year that logic forgot. Because every time you turn around, something happens that makes next to little sense. We’ll be taking a walking tour of life down the rabbit hole in the near future, most likely next week, but for […]

A Christmas Tale for Sellers

Since there’s a Christmas present involved in this tale and the person for whom it’s intended might take a look to see what her husband’s writing, I’ll have to make some of this intentionally vague. Yesterday afternoon I was shopping for a T-shirt emblazoned with the logo of a certain franchise whose arena is utterly […]

Does Your Mother, um, Agent Know That You’re Out?

Last night sometime just after 10 p.m. local time, ABBA Radio’s second run on Sirius came to an end, giving way not to Hanukkah Radio (beginning at 2 p.m. today) but rather an endless stream of promotions for Hanukkah Radio. Which leads to the ancillary question, why start the promos 16 hours in advance when […]