Simple Market Report in Arizona

By
Real Estate Agent with Re/Max Desert Showcase

 

 

According to the J.D. Power and Associates 2011 Home Buyer/Seller Study(SM) just released July 27, 2011, RE/MAX and their agents rank highest in customer satisfaction in both the home-buyer and home-seller segments of the study

 

Hello All!

 

I am a Newbie to the group. Is your purpose to educate the members on each of our repsective areas?

 This is my August Simple Market Report that I sent out to my sphere. I thought I would share.

 

 

Simple Market Report 8.24.2011

Well, Our market report isn't so Simple this month...or is it?

 

The inventory here in Phoenix is at an all time low! And it keeps getting lower every day that I check!

 

(I wrote a Blog about the low inventory...because clients just don't believe us!

 

click below:

 

Low Inventory in Phoenix

 

At lunch yesterday with colleagues, we discussed the reasons why we think there are so few homes on the market.

 

For the past few years, the bank owned homes flooded the market and drove prices down....spiraling. The "media" claim there is no "Shadow Inventory" ( homes the that bank has foreclosed on but they don't want on the market for fear of driving prices further down)

 

I beg to differ. YES there are homes that are in "backed up mode"...just like the boy who had his finger in the dike! And they WILL explode!

 

Why not now? There are plenty of buyers that want to take advantage of 3.5% 15 year loans and 4.3% 30 year loans.

 

Two thoughts at our lunch table....

      

 

1. The banks want the higher assets on their Portfolio. It makes the Quarter Reports look better, and they do not want to take a huge loss all in one year! Their stocks would be negatively impacted.

 

2. Remember In 2010 banks were "robo signing" short sales and foreclosures?

 

They almost had a conveyor belt of "signers" as it were!

 

        Now, going thru each file and making sure they dot all iii's and cross all ttt's. And that takes

 

        T I M E! Lots of time! They don''t want any further back ups.

 

3. Politics! Nuff said!

 

Now that I have rambled on and on and hopefully given you some insight, I bid you adieu!

 

Always ready to help you with any Real Estate need you or someone you know may have!

 

Warm Regards,

 

Julie Bridge

 

 

 

 

 

 

 

 

 

 

 

 

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