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Phoenix Real Estate and Homes for Sale | Jonathan Dalton, Realty ONE Group – (602) 502-9693

Jonathan Dalton
ePro, SFR

Phoenix Market

Phoenix Real Estate Inventory Growing Exponentially

Two days ago, when discussing the state of the Phoenix market with a past client, there were about 12,500 detached homes for sale in Maricopa County. At the end of August, there were 11,613 homes for sale. As of this morning, there now are 12,709. For those who like percentages, that’s a 10 percent jump in inventory in the past 20 days. Since September 1, just over 4,200 homes have come onto the market. Three weeks later, more than 3,400 of those homes still are on the market. Three weeks doesn’t sound like a long time and, in fact, it’s […]

We’re Forever Blowing (Real Estate) Bubbles in Phoenix

My good friend John Wake over at the Arizona Real Estate Notebook wrote a few days ago that the esteemed Robert Shiller (as in Case-Shiller, as in the Case-Shiller index which tracks home values in multiple metropolitan real estate markets) has said a bubble may be forming in Phoenix, Florida and other locales. Mr. Shiller a couple of years ago had said some areas of the Phoenix real estate market had overcorrected, which proved to be absolutely correct. (This means you, Maricopa and Queen Creek and West Phoenix, among others.) Realistically, it’s hard to question his conclusion. In fact, it’s […]

Flipping the Phoenix Inventory Script

For the past few months, the discussion has been about the dearth of inventory here in the Phoenix real estate market and what could happen if the alleged second wave of foreclosures or the theoretically lurking shadow inventory were to be released en masse. Now, let me pose a slightly different question … where does this market go, not just if there is no second wave and shadow inventory is thinner than some believe, but if there is not significant increase in inventory. How long can a recovery continue when there’s nothing out there to be purchased? Think about it […]

Investing in Phoenix Real Estate and Some Basic Math

Let’s suppose you’ve got $80,000 burning a hole in your bank account, earning a whopping .0000005 percent (give or take a couple of zeroes) in interest and you’re thinking about investing that money in real estate. Being adverse to carrying a mortgage, you decide to use the entire $80,000 to purchase a house free and clear. Simple enough? Well … First off, you’ve got to find a place which, in the current market, is damn hard to do. Having the ability to make a cash offer is a great thing but still leaves you in a pile of offers with […]

Is Your Phoenix Investment Property Giving You a Sufficient Return?

Text from a letter I’m sending out this weekend to investor owners: IF YOUR PHOENIX AREA INVESTMENT PROPERTY HAS YOU ON TRACK FOR THE RETIREMENT YOU WANT, STOP READING NOW. If not … consider for a moment how else you could have your money invested – either utilizing a 1031 like-kind exchange and trading up to a newer home in the Valley or moving outside Arizona to markets where the rent-to-price ratio may pencil more favorably (and its possible picking up two strategically leveraged, cash flow properties for the price of your one in the trade.) We arein the midst […]

Phoenix Real Estate Inventory May Be Stabilizing

A quick check of the Arizona Regional MLS shows just over 7,700 single family detached homes on the market – a total that has held steady, give or take 100 homes, for the past week to 10 days. And that leads to the conclusion that after nine months of falling inventory, we  may finally have hit the bottom of the Phoenix real estate market – at least for inventory levels. Prices indicate the bottom came and went; buyers now need to think in six figures for homes built within the past 10 to 15 years across much of the Valley. […]

News I Think You Knew

This just in on the high-speed news wire … home sales surged in the month of April, according to the National Association of REALTORS, as reported today on CNN/Money. Sales hit 4.62 million homes during the month on an annualized basis, a rise of 3.4% compared with a month earlier and up 10% from April 2011, according to the National Association of Realtors. Readers of this website shouldn’t be surprised by that revelation, as I wrote about April sales about three weeks ago. As always, though, there’s a portion of the article that doesn’t necessarily apply to the market here […]

Phoenix Makes the Good List on TheStreet.Com

For the past few years, ever since the real estate market collapsed in late 2005/early 2006, it was de rigeur for the Phoenix real estate market to make all the kinds of lists that homeowners wouldn’t want to see – highest foreclosure rates, largest drops in value, most homeowners underwater. So it’s rather nice to see the trend reverse. Median Phoenix/Mesa median list prices are up 27% over the past year to $164,900 — the biggest percentage jump in any of the 146 markets covers. Available listings have also plunged 48%, to 17,158, while median time on market is down […]

One Quick Inventory Note

Let’s give you one quick note on the Phoenix real estate inventory and get you on your way this Mother’s Day. Inventory rose back about 8,000 yesterday. While in and of itself that means little, since the 8,026 almost certainly will fall back below the 8,000 mark tomorrow once the weekend’s sales are logged into the MLS, it does at least indicate something vaguely resembling inventory stability. We’ll see how that shapes up as the month moves on. Okay, I lied … two more notes today. It was suggested in the comments on a post I wrote on Phoenix Real […]

Supermoons and Truly Unique Happenings

I take it that you heard about the supermoon last week when the moon made its closest approach to Earth this year. It seemed in many corners to be treated like a once-in-a-lifetime event when, in reality, it happens every year. And, for that matter, last year’s supermoon was even more super as the moon was 240 miles closer. Perhaps this year’s added fascination came in part because the supermoon – again, an annual event – was predicted by the Mayans, who happened to be really, really good at astronomy back in the day. And, now that I think of […]

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