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State of the Phoenix Real Estate Market

I dunno. And anyone who says they have any definitive sense of what 2014 will bring is more full of bluster than General Montgomery. (Which reminds me, for a really good read on World War II, check out Terry Brighton’s Patton, Rommel and Montgomery. But I digress.) Inventory, after climbing for months, has tailed off and now sits at 15,750 detached homes across the Phoenix area. Yet the decrease doesn’t seem to signal much more than the change in the seasons, as inventory always tends to fall off at the end of the year. Ready to sell? Click here to […]

Mortgage Debt Relief Act End and Its Impact in Arizona

Nil. At least, that’s the case for the vast majority of homeowners in the Phoenix area who either have short sales in progress or are considering a short sale in 2014. I’ll leave the experts to provide the full explanation; the cliff notes version is Arizona is a non-recourse state – in other words, lenders can’t pursue a judgment against a homeowner after a foreclosure here, unlike other states – and purchase money home loans are non-recourse in nature. In the majority of cases, when a house is sold via a short sale and it’s secured by a purchase money […]

When Push Comes to Shove …

… you don’t want to make this person mad. And by “this person”, I don’t mean the 300-pound, angry, Muppet-monster doppelganger on the right but the innocent looking woman on the right, my beautiful spouse Kathie. Short version of the story: Last night at Sun Devil Stadium, there were some drunken 20-ish guys in the row behind us who kept bumping into my 73-year-old mother every time they moved. Reality is there’s not a ton of leg room but, magically, this kind of thing doesn’t happen. Three times, four times … each time with an apology coming. Same guys and […]

Phoenix Real Estate Update – December 1

Truth be told, I have another topic in mind. But the title seems to remind me that this is a real estate blog, so let’s talk about real estate and I’ll get to the other topic in a couple of days. In the category of “it’s easier to predict the weather in Colorado Springs”, inventory here in the Phoenix real estate market has tailed off, and not just because of the inevitable expiration of listings on the final day of the month. Yesterday, there was a hair over 16,000 detached homes for sale across Maricopa County; this morning, the number […]