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Sept 2018 – Phoenix Home Price Outlook

 We’re seeing more stories about home prices falling. This is from the Orange County Register; “Thomas’ biweekly report found a stark change in the market for existing homes as of Sept. 20 vs. a year ago: selling time was 26 days longer as listings grew by 22 percent… As summer ended, the four-county region… had…

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Phoenix Housing Market Predictions 2019

 See the interactive graphs HERE. Phoenix Real Estate Market at a Glance Yikes! Phoenix home prices are up 9.5% over the last year (July to July). That’s a hot market! Kind of scary hot to me. Prices are up 17.8% since two years ago and 145% since prices bottomed out in May 2011. On the other…

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Arizona economy looking better

 Arizona #7 for Job Growth Phoenix #4 for Job Growth Growing up in Phoenix, I thought Phoenix would always be the top 1, 2 or 3 metro area for job growth. It was a point of pride for Phoenix. It was trumpeted in the local newspapers, television stations and chambers of commerce. And I kind…

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Down Payment Assistance Programs in Arizona

 Impromptu interview (2016) with my dog friend Larry Neaman of Nova Home Loans about down payment assistance programs in metro Phoenix. A bunch of us dog people get together in the neighborhood park most evenings. Larry and I were the first ones there last night so I thought I would take advantage of it and pick his brain another time about down payment assistance programs. The German Shepherd is Larry’s dog, Maiya. My 6-pound pretty papillion, Abby, didn’t make it into the video. She was probably at my feet begging to get picked up. Abby is great at only one thing, being held. It’s her superpower. Larry’s phone is 480-500-3005.…

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Have Phoenix Home Prices Really Recovered?

 Tom Ruff’s commentary this month in STAT points out the dramatic impact today’s low interest rates have on mortgage payments. $200,000 Home June 2006 | Interest Rate = 6.68% | Interest Per Month = $1,113 June 2016 | Interest Rate = 3.66% | Interest Per Month = $610 The Recovery He also talks about the peak (2006) and trough (2011) of home prices and which zip codes have “recovered” the most and the least. Most Recovered = Arcadia and North-Central Phoenix Least Recovered = West-Central Phoenix and the far Northwest Valley. See Tom’s piece for more details. Curmudgeon Says A curmudgeon might say 3.66% mortgage rates are responsible for the “recovery” of…

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