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Case-Shiller Phoenix – The Real Estate Rebound is Over

 The video discusses the February 2014 Case-Shiller Home Price Index report for Phoenix AZ. Phoenix homes don’t appreciate for first time in 2.3 years The Case-Shiller Home Price Index did NOT increase at all between November 2013 and December 2013, the first time in 2.3 years the index did not increase month-to-month in metro Phoenix. Median and average home prices have been flat for metro Phoenix since last summer but the Case-Shiller Index is sort of the benchmark for home prices because it measures appreciation directly and is less prone to fluctuations when the mix of homes sold changes toward higher or lower priced homes. The Case-Shiller Index had shown…

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Why were metro Phoenix new home permits down 27% in January?

 Via Elliott Pollack. The most often asked question over the past few weeks is about the local housing market. R.L. Brown’s data indicates that the number of new home permits in Greater Phoenix was down 26.8% in January compared to a year ago. In Greater Tucson, the decline was 18.5%. What happened? Was it an even lower rate of population growth? Was it the change in the maximum level of an FHA loan? Was it that the uncertainty over Dodd-Frank has caused private lenders to avoid the mortgage market? Was it the change in affordability from a year ago? Was it the weather back east? Was it the retrenchment of…

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U.S. Real Estate Week – January home sales down 5%

 Top Real Estate Stories February 23, 2014 • U.S. home sales, new home construction starts and affordability down • U.S. household formation down 2/3rds, and • Freddie Mac adds $1,000 additional incentive to selling agents of HomePath homes. U.S. Real Estate Week – News Sources Existing home sales take a dive, world does not end New Residential Construction Report: January 2014 Builder confidence down sharply in February Fannie Mae finally profits Uncle Sam Cost of owning a home is spiking in 2014 Has The QM Rule Had Any Impact So Far? Delinquency and foreclosure rates decline to 2008 lows Foreclosures could rise if Congress doesn’t help FED: Household Formation At…

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Hockey great Claude Lemieux sells Paradise Valley AZ home for $2.9 million

 Via Realtor.com. The retired hockey great has sold his trophy home in the Phoenix valley for $2.9 million. While that figure is south of the $3.5 million price tag Lemieux put on the home when it went on the market last March, it’s $800,000 more than what the former right winger for the Montreal Canadiens, New Jersey Devils and other teams was asking when he first listed the desert property in 2011.

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Echo Canyon Trail reopens on Camelback Mountain

 After being closed for a year for “remodeling,” the super popular Echo Canyon Trail has reopened with a new, less steep, route on the lower part. Camelback Mountain is higher than the Empire State Building so hiking the Echo Canyon Trail to the top is like climbing the stairs up 103 floors to the top of the Empire State Building and then some. Parking is improved slightly but it’s still a big problem getting to the trailhead. Via azcentral.com.

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NEW East Valley Home Price Charts!

 Check out the sidebar for the NEW home price charts for the East Valley of metro Phoenix. I’ve included charts with the median home sale price and number of homes sold by zip code for; Scottsdale and the Northeast Valley (Paradise Valley, Carefree, Cave Creek and Fountain Hills) Chandler AZ Gilbert AZ Tempe AZ Ahwatukee area of Phoenix SUBSCRIBE in the upper-right corner to see when the charts are updated each month. Phoenix Home Price Trends In the video, I discuss home price trends using home sales data through January 2014.

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Phoenix Real Estate Market at a Glance – February 2014 Report

 John Wake analyses the Phoenix real estate market using Phoenix MLS (Multiple Listing Service) data. The metro Phoenix MLS comes out with new data each month on the number of homes sold, the median price of the homes sold, the number of unsold homes listed for sale, and the number of new listings that hit the Phoenix market each month. See all past “Phoenix Real Estate Market at a Glance” reports on a single page. See the interactive graphs HERE. February 2014 Conclusions The median home price in Metro Phoenix continued flat in January 2014. Often we see a price bump in March closings and the size of that March…

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Phoenix real estate scams

 From Phoenix New Times. Phoenix real estate has more than it’s fair share of dreamers and schemers, but then there’s the pure scammers like “Apartments America” which operated in Phoenix and southern California. A grand total of 647 investors were owed more than $91 million, and no one got a dime through the bankruptcy proceedings… … following PPA’s final investor offering in 2009, virtually none of the investors’ funds were used to invest in new property purchases, as had been promised to investors; instead, the money was used to pay earlier investors and banks, to pay Stewart and Packard, and to pay PPA’s bankruptcy attorney. But it seems like they…

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