by kramoltz@hotmail.com | Mar 13, 2023 | Home Buying, Mortgages + Lending, Real Estate Facts & Figures
1. First-time Buyers are Scarce. The first-time buyer share of the market dropped to 26% over the past year. Historically, first-time buyers buy around 40% of homes. The reason was the high prices and the rise in interest rates. Hopefully the price correction...
by kramoltz@hotmail.com | Feb 28, 2023 | Home Buying
The share of home sellers offering concessions to buyers jumped in the final three months of 2022. Concessions are being offered as an incentive to attract buyers and in an attempt to prevent listing price cuts. Approximately 42% of homes sold in the fourth quarter...
by kramoltz@hotmail.com | Jan 30, 2023 | Arizona and Its Amenities, Home Buying
The Phoenix metro area was the nation’s top buyers’ market as of October 2022. That is according to the Knock Buyer-Seller Market Index, which analyzes whether the nation’s 100 largest markets favor home buyers or sellers. In Phoenix, a typical...
by kramoltz@hotmail.com | Dec 30, 2022 | Home Buying, Real Estate Facts & Figures
Four of five consumers describe buying conditions for homes as bad, a record in data going back to 1978, according to the University of Michigan’s consumer sentiment survey for November. The erosion in perceived buying conditions is at the highest level in 40...
by kramoltz@hotmail.com | Sep 2, 2022 | Home Buying, Selling Your Home, The Attorney-Broker Advantage
Due to the real estate boom in Arizona and elsewhere, there are hordes of new real estate agents. Membership in the National Assoc. of Realtors grew from 1.48 million in 2020 to 1.56 in 2021. That 82% increase in new members set a NAR record. This “jump on the...
by kramoltz@hotmail.com | May 24, 2022 | Home Buying, Home Ownership
Two more trends: 3. Commercial Style. This style of faucet, often seen in restaurant kitchens, have a heavy-duty commercial look. Often they have a spring over the pull down hose. Usually this style is used as a pot filler over a stove. 4. Touch and Touchless. Tech...
