I was WRONG About The Arizona Real Estate Market…

I was convinced that real estate was dead in Arizona when we were told to stay home in March of 2020… How WRONG I was.

I am a realtor in the Greater Phoenix area serving all surrounding communities from New River south to the City of Maricopa.

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  1. Inventory in California is rising so fast. Just last week, there were 2 properties listed on my block. Today I drove out the driveway and on my block alone there are 4 new for sale signs. Drove to the block behind me and in front and I counted 13 new signs from just a week ago. I only pay attention because I’m a real estate agent here. And even I was shocked to see that many signs up.

  2. Demand for city living in the Phoenix metro is very high. Just a couple years ago there were less than 8k people living downtown now I would guess it is at least double that. With many more buildings already approved and/or proposed.

  3. another funny thing about arizona is everyone was hiring illegal aliens to have cheap work done building homes home repair well you created hell on earth with mexicans in your state and now you are stuck with it hahhahhahahhah you did this not me i hope you enjoyed your cheap tile job because soon more home invasions car jackings drugs killings smash and grabs….good times in arizona pure hell hole

  4. Folks, Beware of the (CRASH TALKERS). They’re mad because they know they already missed the boat to buy dirt cheap. They use terms like (FOMO) to scare thousands of buyers from purchasing a home in hopes that they can once again see rock bottom prices.
    But folks, real estate is a Sine Wave function that has an upward incline because of an ever increasing population and a limited amount of land. If one thinks by the old saying “what goes up, must come down”, then they are sadly mistaken and will surely MISS OUT! The Real Estate Sine Wave Medium is ALWAYS in an upward direction, you’re especially lucky if you catch the bottom of the Sine Wave, but are guaranteed to succeed in time EVEN if you buy in at the top, providing you can afford your purchase. At the very least, YOU PREVENT INSTITUTIONAL INVESTORS FROM JACKING UP YOUR RENT TIME AND TIME AGAIN.

  5. And then there are the people, ( and they could be right), that the floor is dropping out from under the housing sector despite the crazy inflation and home prices will come crashing down. How much, like 2007 , who knows.

  6. I bought my first home in 2005 and in 2008, it was worth almost 200K less. I couldn’t refi. No lender would do it. Most of my neighbors around me foreclosed and walked away. The struggle to make my monthly payments were real but I refused to lose my home. Finally in 2014 I was able to modify my loan under the HAMP program which locked in a rate of 3.5%. Thank goodness because my payments were going to “balloon” within a year. Home equity came roaring back and in 2021 I refinanced and locked in a rate of 2.75%. We just closed on our second home this week. I learned a very valuable lesson in 2008 and I’ll apply that knowledge now.

  7. Wife and I received no government handouts. I guess we didn't qualify since we were both working and had no kids.

  8. Good morning Rick. This is Thursday and I have been looking at national numbers such as GDP. First-quarter GDP was expected to slow sharply to 1.1 % annualized growth versus fourth-quarter growth of 6.9 %. Nope, it was worse. Negative 1.4%. One more and we are in a formal recession. Powell will likely gallop off into the sunset if he cannot get the economy on track. If this happens again in three months, July, it will be a midterm disaster for Biden. Few incumbents get re-elected when in a recession. Personal consumption expenditures, after the fourth-quarter's plus 2.5 % rate, was expected to post very solid annualized growth of 3.4 %. It too dropped to 2.5%. As Alfred E. Newsome said, "what, me worry?"

  9. The data will help you understand what has happened, but not not what will happen. No matter how much data you analyze, you can never foretell the future. If you need to buy, and can afford to buy, then buy. Carpe diem! If you are speculating, then never invest more than you can afford to lose.

  10. Would the American economy really be as good as it is without mortgages and credit cards?

  11. No worries go to mall get shot…Anybody seen the blonde Ukraiine chick drove across the mexico border to Scottsdale, hubby gets to face down tanks…stunning and brave woman.

  12. The housing market wouldn't be what it is today without all the government intervention. I was vacationing in the Philippines when the pandemic struct and was stuck overseas from March to October 2020. I saw that their government didn't intervene and allowed businesses to fail, homes to be foreclosed on, and people to lose their jobs. 2 years later, their economy is in a totally different state than the US. My guess is if they continue their rate hiking policy and causes the US economy to tip over into a recession they will most likely reverse course and revert back to the same QE and easy money policies that got us where we are today and send inflation into overdrive.

  13. I treat my house AND my 30yr/3% mortgage as an asset. I will not be letting them go for a long time.

  14. WOW !! you slid in another great real estate info update ! Keep reminding us of the stats and showing us the charts. I myself forget your info unless reminded often. Your videos are not a broken record ! Watching closely !! Thank you Rick.

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