Investment firm Morgan Stanley has high hopes for the housing market’s recovery this year and next. "We expect to see 2012 end with an increase of 7 to 9 percent for the year in aggregate home prices after considering seasonality effects for the remainder of the year, with the possibility of a 10 to 12 percent increase on the bullish side and a 4 to 6 percent increase as the bear case," according to Morgan Stanley analysts in its latest Housing Markets Insight report. "We view the bear case outcome to be … [Read more...]
Low Inventory Creating Buyer Frustration
October 2, 2012 by Leave a Comment
Low inventories of homes for-sale are becoming troubling to home buyers, Inman News reports. Almost every major market in the U.S. has posted double-digit decreases in for-sale listings. "The buyers tend to become a little frustrated as they are seeing homes that they want to 'think about' and before they can even get home to discuss it there are already multiple offers on the property," Sheri Moritz, a real estate broker with Keller Williams' Wake Home Team in Raleigh, N.C., told Inman News. In Raleigh, … [Read more...]
Phoenix Home Prices Are On The Rise
October 2, 2012 by Leave a Comment
More metro Phoenix homeowners may soon be able to sell for a profit, albeit a small one, as home prices in the region continue to rise. Arizona State University's latest real-estate report shows the median home price in the Phoenix area climbed again in April to $140,000 -- 25 percent higher than the year before. Helping push up prices is a limited supply of homes for sale and a growing pool of buyers. If those trends hold, the outlook is for home prices to keep rising, which could be good news for many … [Read more...]
The Wall Street Journal to launch new real estate section
October 2, 2012 by Leave a Comment
The Wall Street Journal said its new weekly section covering the global luxury real-estate market will debut Friday and be called Mansion. The section, which will be led by editor Emily Gitter, will appear in the Journal every Friday in the U.S. Certain content will appear each week in the Journal's Europe and Asia editions. The new standalone section, first disclosed in July, is one of several investments the newspaper is considering at a time when its parent company, News Corp. (NWSA, NWS.AU), is preparing … [Read more...]
Phoenix, Arizona foreclosure activity falls again
September 26, 2012 by Leave a Comment
Phoenix, Arizona foreclosure activity falls again - Source: Phoenix Business Journal by Kristena Hansen, Reporter - Tuesday, September 25, 2012, 12:34pm MST Foreclosure activity throughout metro Phoenix and Arizona continued tumbling this summer at a rate that far outpaced the nation, according to the latest report released Tuesday by CoreLogic. Metro Phoenix’s foreclosure rate, meaning the percentage of all outstanding residential mortgages in a particular area that are in some stage of the foreclosure … [Read more...]
U.S Home Prices in June
August 28, 2012 by Leave a Comment
Nationally, home prices were up 2.3% in June. We are really excited to see where Phoenix falls within the 20 major cities they analyzed. Click here for article … [Read more...]
Buying vs. renting in Phoenix
August 2, 2012 by Leave a Comment
Currently, the average break-even point is 3 years between owning and renting a home in the U.S. and Phoenix is almost half that number coming in at 1.7 years. A very tempting reason to jump into the market if you've been renting over the past couple of years. Source: CNN Money … [Read more...]
Home price gains at risk in distressed markets…
July 12, 2012 by Leave a Comment
Source: Trulia - Foreclosure backlogs a concern in Phoenix, Miami and Detroit By Inman News, Tuesday, July 10, 2012. Asking prices for for-sale homes nationwide have risen in the last four out of five months, but the biggest market gainers also have foreclosure backlogs putting those increases at risk, according to a monthly report from real estate search and marketing site Trulia. For this report, Trulia considered the for-sale and for-rent properties listed on its website through June 30, 2012, taking into … [Read more...]
Bidding Wars…
July 12, 2012 by Leave a Comment
An interesting article by Catherine Reagor with Arizona Republic - Bidding wars among investors and regular homebuyers continue to escalate because of the lack of supply. Residential foreclosures in metro Phoenix fell again last month. That's good news for some struggling homeowners, but it means fewer bargain-priced homes on the market for potential buyers. In June, lenders took back 1,719 homes, according to AZ Bidder. That's about 300 fewer than in May. Demand for commercial properties is also … [Read more...]
