Six cities in the southeast corner of the Phoenix metro are in a seller’s market. A short drive south, in Maricopa, inventory has accumulated to a degree that could take years to absorb. The difference has less to do with demand, which remains relatively healthy across both areas, and more to do with where new ...
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Conventional wisdom says spring is when you sell a house. The flowers are blooming, the yard looks its best, and buyers are out in force. But in northern New Jersey, where inventory has been well below normal for years, waiting for April or May means walking into the heaviest competition of the year. Julia Gaffney, ...
The conversation about buying a home in Tucson keeps circling back to interest rates. Rates are too high. Rates might drop. Rates were better two years ago. It is the wrong conversation, and it is costing buyers real money. Tony Ray Baker, owner and team leader at RE/MAX Fine Properties and the agent behind SeeTucsonHomes, ...
A home that would have drawn 15 offers in a weekend three years ago now sits for 60 to 120 days or longer in the Scottsdale area, and according to Brad Kimmelman, Team Leader, Senior Global Real Estate Advisor with The Homanity Team at Russ Lyon Sotheby’s International Realty, the listing itself is rarely the ...
The assumption that a metro area’s housing market moves as a single unit rarely holds up under scrutiny, but in Scottsdale and Paradise Valley, Arizona, the divergence between price segments has become unusually pronounced. According to Brad Kimmelman, Team Leader and Senior Global Real Estate Advisor with The Hômanity Team at Russ Lyon Sotheby’s International Realty, homes priced ...
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It is tempting, when a listing has sat for a few weeks with no offers, to assume the price is wrong. In many markets, that instinct is correct. But in military-dependent markets like Hampton Roads, Virginia, a stale late-summer listing may not be a pricing problem – it may be a calendar problem, according to ...
In the western suburbs of Chicago, homeowners who list above market value, banking on the idea that a motivated buyer will negotiate down, are not just sitting on stale listings. According to Michael Berg, a broker covering DuPage County and parts of Cook County, those overpriced homes function as unpaid marketing for every competitively priced ...
Most first-time buyers in the outskirts of Los Angeles County assume they should wait for mortgage rates to drop before purchasing. But if home prices keep climbing while they wait, the savings on interest get erased by a higher purchase price, and the higher principal balance stays for the life of the loan. Gabriella Godde, ...
Scroll through listings in North Orange County, California, this fall and the market looks like it is softening: price reductions dotting the inventory, homes sitting longer than they did a year ago, sellers pulling back from their original ask. For buyers, it is tempting to read those cuts as a signal that values are falling ...
The common narrative around Joshua Tree is that the market is drowning in vacation rentals, too many Airbnbs chasing too few guests. But in a market that still draws over three million visitors a year, the vacancy problem may have less to do with how many rentals exist and more to do with what owners ...
Selling a home is supposed to be the exit strategy. But for a growing number of homeowners in Las Vegas, the math on a sale does not work right now, and the result is a wave of reluctant landlords entering a rental market that punishes inexperience. Corinne Gordon, a Realtor and co-owner of Hive Real ...
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