We Need Listings! #NotABubble

Come on already! Why are you hording your own house? Put it on the market already! Don't get cast in that hypothetical TV show, "House Horders"! (Is this a show already? I'm not sure. I would probably watch it.) Weather-wise, it's becoming an early spring, and it's the perfect time to begin selling your home! Yet as you can see by my trusty chart in my video, house inventory is as flat as a pancake. Everyone in the Milky Way is moving to Phoenix, and why wouldn't they move here? We have sunshine and happiness all year round. There's no digging yourself out of snow, mud, or other kind of natural disaster. (I can't guarantee you won't … [Read more...]

Buying Real Estate the Smart Way in a Tight Economy

Ok, so as mentioned in my previous blog, we are due for another recession. Every 5 years, a recession occurs. We haven't had a recession in 7.5 years. Yikes! So it's time to tighten up the proverbial expenditure belt. And you might be thinking, "Well, crud, I wanted to finally buy a house this year!" NEWS FLASH: The #1 reason to buy a house is NOT, "Oh, it's not a recession right now -- Let's buy a house!" There are actually some very good reasons to buy a house right now. Reason #1 Interest rates are still really, really low. Even in the fours, they're still historically low. I mean, they may not be this low again when they … [Read more...]

Happy New Year 2017 – Looking Ahead in Phoenix Real Estate

We have spent 7.5 years in an awesome growth period as a country. On the flip side, this makes us well overdue for a little recession. That's pretty amazing though - considering we've come a long way from foreclosure and losing our homes back in 2008. The interesting thing about being overdue for a recession is this: It's kind of like being overdue for a major earthquake in Los Angeles - except a tiny recession is much more likely to happen yet won't leave your life in shambles. This mini-recession will not be anywhere near as bad as 2008. We won't have to rebuild an entire city, or country, for that matter.   Here are … [Read more...]

Population Pause…We Need More Babies!

One of the biggest drivers in housing demand is population growth. Simple math here. If you have more people, you need more houses. There are essentially 2 ways people come to Phoenix - they move here or they are born here. And folks, the number of people born here is on the decline. My friends at Cromford Report, pointed out the shift in the population make-up we are seeing in this country. Nationwide, folks are living longer and having few babies, so the population is essentially aging, skewing towards an older demographic. This will result in a slowing population growth. We have seen this trend in the United States before, so it will be … [Read more...]

Are We Headed For Another Real Estate Bubble?

Sorry to interrupt your regularly scheduled PBS program in the drab, grey fields of irrational paranoia, fear and anarchy, but I have an important message for you: IT'S ALL IN YOUR HEAD. WE ARE NOT IN A HOUSING CRISIS. We are not about to be in one either! I know what you're thinking, "Oh, but Kristin, you're a REAL ESTATE agent. Of course you would tell us we're not in a housing crisis... You just want my $%#^@ MONEY!" No. I want you to be happy. And happiness comes from being educated by the facts. With knowledge comes power and confidence - not this fear bullcrap. Let's get rid of this fear thing. It never does anyone any good … [Read more...]

Yikes! Where are All the Affordable Houses?

Home prices are going up in Phoenix. Great news if you are a seller...not so great if you are a buyer. Particularly a buyer who does not currently own a home. The bar for entry level homes is going up - homes are becoming less affordable. You are jumping onto a moving merry-go-round, my friend. Check out this visual from my good friends are the Cromford Report: Yup...the inventory below $150K is quickly becoming non-existent, and the inventory of affordable homes between $150K-200K is starting to fade away as well. Anything below $250K is going to be gobbled up quickly by strong buyer demand - and guess what? We are on the brink of … [Read more...]

Phoenix Real Estate Market – 2015 in Review

And now, for the traditional look-back at the year that was. How did the Phoenix real estate market fare in 2015? Not too shabby! In a nutshell, 2015 favored sellers over buyers in most areas, as has been the trend since 2011. The good news for buyers, however, is that sellers can no longer dial it in. There were far more price reductions, more nail-biting, and overall, less partying by sellers and a little more satisfaction in the buying experience.  Gone are the days of slowly driving your car by a house, adding $20K to the listing price of some dump that meets 25% of your must-have criteria, and hoping this, your 27th offer, would … [Read more...]

Interest Rates Rise for the First Time Since 2006

Told ya... As expected, the Federal Reserve announced that short-term interest rates would rise by 25 basis points (0.25%), the first time the interest rate has increased since 2006. For seven years,  the Fed held short-term rates near zero to apply the paddles to the cardiac crisis that hit the US economy back in 2006, and nurse it back to health. Although the US economy isn't exactly ready for an iconic post-recovery marathon, it is at least at the 10K stage where economic experts agree that a little return to normalcy will do us all some good. Now, the interest rate we are talking about is NOT the mortgage interest rate. The Feds … [Read more...]

Homes For Sale in Phoenix-What’s Hot, What’s Not?

Let's take a look at the current inventory of homes for sale in Phoenix...What's hot and what's not? There are currently more than 17,600 homes for sale in Maricopa County. When you look at the mix of price ranges on a map, you can see a heat map forming representing affordability across the Valley. For homes in price of $200K or less, your best bet is the West side. If you want to live in the East Valley - Mesa, Tempe, Gilbert or Chandler, you are going to need to spend a few more bucks - most homes are $200K and above.  If you want to drop some serious dollars on your new house, northeast Phoenix and Scottsdale are the places to … [Read more...]

Rising Mortgage Rates And The Rumors They Inspire

Last month, over 271,000 jobs were added in the U.S. - the highest amount so far this year.  The unemployment rate dipped to 5 percent, and wages rose at the fastest pace since 2009. In a report released last week  by the Feds, all signs point to a healthy U.S. job market, almost fully healed from the deep wounds of the Great Recession. This is really great news! But, because there is always a "but", the healthier economy is raising expectations that the Federal Reserve will begin withdrawing its support for the recovery by the end of the year. In a nutshell, interest rates are very likely to rise over the next year. Not in a  … [Read more...]