February 19, 2014

U.S. divorce rate (and housing demand) increases with the economy

I never thought of divorce as a luxury good but it makes sense. Both marriages and dissolutions are tied to unemployment, University of Arizona’s Schaller found in a May 2012 paper. Each one percentage point increase in the jobless rate is associated with a 1.5 percent decrease in the marriage rate and 1.7 percent drop in the divorce rate, she calculated. Divorce and Real Estate I knew divorce was an important source of household formation – what used to be one household now becomes two – but didn’t put together that the economic rebound would increase divorce rates. “Separations and divorce often create additional housing demand by creating two households…

February 18, 2014

Arizona economy pretty good

Via Elliott Pollack. The local MLS say the number of homes listed for sale is up 31% from a year ago and housing prices have been relatively flat for several months. Arizona Economic Outlook The state is currently a top 10 location for job growth and will likely be top 5 by next year. Population flows are also improving and should accelerate by next year. Many advancements were made during these tough times in terms of tax policy, regulatory policy, and in selective use of economic development programs. We are stronger for having gone through this. We have it pretty good all things considered.

February 18, 2014

Honeywell Aerospace shows off new technology

Honeywell Aerospace is a major employer in Phoenix with nearly 10,000 local employees. See some of Honeywell’s latest tech HERE. I’ve been very fortunate to help several Honeywell employees buy and sell their homes. I tend to hit it off very well with engineers, financial planners and other “numbers people.” Engineers don’t want to be sold, they just want to get the house sold.

February 16, 2014

Most Expensive Home for Sale in Arizona

Via Phoenix Business Journal, “$32 million Scottsdale estate hits market as Arizona’s most expensive home for sale.” Click to see 53 photos of this Scottsdale home for sale.

February 16, 2014

“If… 2014 could easily see… home prices move a little lower” Yikes!

You should take Mike Orr’s opinion very seriously. Michael Orr, the report’s author and housing expert at ASU’s W.P. Carey School of Business, said in the report. “However, if the current cooling trend that started in July continues for much longer, 2014 could easily see average and median home prices move a little lower than they were at the end of 2013.” I don’t think the Phoenix median home price will fall in 2014… but you never know. Takeaway – Demand is down and significantly fewer homes are selling at these prices compared to last year at this time when home prices were significantly lower. Home prices probably won’t be…

February 15, 2014

Boomerang Buyers coming back

This is good news, of course, for those folks who lost their homes to short sale, foreclosure, or bankruptcy in the past several years. And it’s also good for home sellers because the boomerang buyers increase the demand for homes. Via Keeping Current Matters.

February 14, 2014

Arizona has best pay equity between men and women

Via Phoenix Business Journal. Those smarty pants reporters Back East have been brutal about depicting Arizonans as a bunch of knuckle dragging hicks. Hey, smarty pants reporters, 4 out of the last 5 governors in Arizona have been women. How many women have been governors of your state and why to you hate women so much Back East? Turnabout is fair play. :)