Supreme Court Issues Unanimous Ruling On May 25, 2023 the U.S. Supreme Court issued a ruling in the Tyler vs. Hennepin County case. The Supreme Court unanimously ruled that Hennepin County violated the 5th Amendment Takings Clause when it confiscated, sold and kept the entire amount of the sale. The $25,000 of Ms. Tyler’s equity
How 2013 ended and where is the market going in 2014? The past 2 years have provided Phoenix area homeowners with double digit gains, and the market has been in the sellers’ favor. But with higher prices and more sellers looking to take advantage, the balance between buyers and sellers is shifting. Distressed sales (short sales and foreclosures) which
Half way into 2013 – Where’s Phoenix Real Estate Going and Why? 2012 was a good year for real estate in Phoenix, and the question going into 2013 is “Can prices continue to go up like they did in 2012?” Price appreciation in 2012 in many cities resulted in appreciation over 20%, and sellers eagerly want prices to
Phoenix Area Real Estate Review The Phoenix area real estate market was good to home owners in 2012. It was the first year of appreciation since 2005. Buyers frequently found themselves frustrated by the competion for homes especially those under $200K where there is an abundance of first time home buyers and investor demand. After a robust year in 2012, how
Are Fannie Mae Short Sales and Foreclosures A Bargain? When you see a short sale or foreclosure, do you think a bargain is coming your way? My advice: slow down and see who owns the note on the property. If the foreclosure is a Fannie Mae owned property, be patient. If it is a short sale and Fannie Mae
A Look Back at 2012 for Phoenix Real Estate The year in review of 2012 for homeowners was an encouraging one to be sure. 2011 was essentially a flat line, and there has not been any appreciation in home prices since 2005. Therefore, the 12 – 29% increase experienced in nearly all Phoenix metropolitan cities in 2012
Reflecting on 2012 and what’s ahead for 2013 There is no doubt, 2012 has rewarded home owners, to which they say it is about time! Some reports are indicating a 15% – 25% increase in home values over the last 12 months. The graph to the left shows the average $/sq.ft. for homes sold in Gilbert, which
Distressed Sales – What a year has done. Last year buyers enjoyed a real estate buffet that served a combination of foreclosures/REO’s, short sales, or normal/traditional sales at historically low prices. The inital buyer consultation included an explanation of the in’s and out’s of each. Frustrated sellers knew they were competing with distressed sale pricing as they
Headlines quick to report foreclosure activity rises in 21 states News of this activity seemed to cast doubt on a housing recovery, and gives hope to buyers who have been watching the market for great deals that have seemed to evaporate in the last 12 months. One article even said it was the 2012 tidal wave of foreclosures. The trap
Is the real estate market changing? For 6 years the Phoenix market has been a declining market with some property values declining by more than 50 – 60% from their peak. At last, many of the fundamentals strongly indicate that home prices bottomed out in 2011, and 2012 will reward homeowners with long awaited appreciation, a
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