Hi Friends!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A with some important information from my friend Beth Jo Zeitzer at ROI Properties.
According to ROI Properties’ latest report, the supply-demand index indicates a slowing in advantage for sellers, but they remain in a power position–with the exception of the higher end. They expect appreciation rates overall for the Phoenix metropolitan area to continue in a positive direction over the short term. You can read all the details in the ROI Newsletter, with additional statistics, market trends and information, but below is a quick view of the highlights:
- Week 38, 2015 vs. 2016: Where do we stand compared to last year? Residential sales in 2016 are up 3.7% in week 38 compared to this time last year, and moved up 0.4% from last month. New listings activated are up 4.2% in week 38 of 2016 compared to the same week in 2015. Price appreciation has moved up at a consistent rate, but base prices have risen at nearly the same rate–resulting in a lower annual growth rate, 4.6% vs. last year’s 5.0%.
- Sellers advantage by city: Avondale has been the number-one sellers’ market among the major cities in the Phoenix metropolitan area for more than a year, but has recently experienced a downturn in the supply-demand index. Mesa ranks at the top in the Southeast Valley, fueled by buyers drawn to the area by job growth and a higher availability of properties under $200K. After a long period of time in balance, Scottsdale has finally emerged into a sellers’ market–although the trend could reverse over the next month, when supply typically increases.
- Timing the market for buyers: Realtors often talk about the best time to list a home, but rarely talk about the best seasonal time to be looking for one. The window of opportunity for buyers, when there is an increase in supply without an increase in buyers, is right about now.
- Home equity and the overall wealth of Americans: Purchasing a home has gotten a bad reputation since the 2008 crash, but the fact remains that home equity is still the majority of wealth for Americans nearing retirement age. In the current environment, Millennials in particular could benefit from the “forced savings account” that a 30-year, fixed-rate mortgage provides over the long term.
If you are interested in getting more information on commercial real estate, you can send Beth Jo an email to subscribe to her “Real State – Commercial” newsletter
Well, that’s it for this time! Make it another great day!
Blessings,
Billy A
P.S. If you or someone you know is struggling to obtain financing or just wants to “Brainstorm” and receive “Great Information Without Obligation” on any aspect of real-estate, including leverage – Please don’t keep me a secret! Give me a call at 520-299-4878. As a Creative Lender, my team and I have been providing Meaningful Alternatives to traditional lending for over 30 years!