{"id":563,"date":"2006-10-22T07:34:59","date_gmt":"2006-10-22T14:34:59","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=563"},"modified":"2006-10-22T07:36:09","modified_gmt":"2006-10-22T14:36:09","slug":"valley-home-values-the-sun-will-come-up-tomorrow","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/563\/valley-home-values-the-sun-will-come-up-tomorrow\/","title":{"rendered":"Valley home values: The sun will come up tomorrow . . ."},"content":{"rendered":"

Today marks the release of The Arizona Republic<\/i>‘s semi-annual run-down of home prices<\/a>. I’ve never liked this treatment because it is based on median prices — which tells you nothing about particular homes — and is sorted by zip code — arbitrary and enormous spaces. Here’s the Cliff’s Notes. You can pursue the links from the page linked above for details. 1. Not as good as last year. 2. Prices down somewhat or barely up, year over year. 3. Lots of inventory. 4. The sun will come up tomorrow.<\/p>\n

The biggest news might be that Catherine Reagor has discovered new reasons for hope<\/a>. In a goofy home movie made for Channel 12, she actually rhapsodizes about appreciation potential<\/a>. She predicts a Valley population of 20 million (our carrying capacity is 8 million), so she’s not down to Earth on all ten toes, but her progress is laudable.<\/p>\n

I was interviewed for this year’s rundown. I spent about an hour on the phone from my patio one afternoon, maybe twenty minutes from the car the next afternoon. I also referred two of my favorite investor clients, one of whom was interviewed for about twenty minutes as he was standing in a store. All of that turned into one mangled sentence in<\/a> three<\/a> sections<\/a> of the paper.<\/p>\n

The actual news is this: Our fundamentals are sound. In-migration continues apace. There is a lot of inventory on the market right now, but many sellers are not actually motivated to sell at current market prices. Those homes can be thought of as ghost inventory. A perfectly normal number of buyers are buying homes at or above list prices, with deep discounting being rare. The surfeit of inventory will take some time to work out, but I see no indications of looming catastrophe. The news isn’t great, but it certainly isn’t awful…
\n<\/p>\n

Technorati Tags: arizona<\/a>, arizona real estate<\/a>, phoenix<\/a>, phoenix real estate<\/a>, real estate marketing<\/a><\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Today marks the release of The Arizona Republic‘s semi-annual run-down of home prices. I’ve never liked this treatment because it is based on median prices — which tells you nothing about particular homes — and is sorted by zip code — arbitrary and enormous spaces. Here’s the Cliff’s Notes. You can pursue the links from […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6,5],"tags":[],"class_list":{"0":"post-563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-marketing","7":"category-real-estate","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17610,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17610\/overnight-news-if-it-be-now-tis-not-to-come-if-it-be-not-to-come-it-will-be-now-if-it-be-not-now-yet-it-will-come-the-readiness-is-all\/","url_meta":{"origin":563,"position":0},"title":"Overnight News: \u201cIf it be now, \u2019tis not to come. If it be not to come, it will be now. If it be not now, yet it will come \u2013 the readiness is\u00a0all.\u201d","author":"Greg Swann","date":"December 17, 2020","format":false,"excerpt":"We're all just waiting for the hammer to drop. My bets are tomorrow or Christmas Eve. What if there is no hammer? God help us all. Christmas Brutality: A father for Christmas. In snowscapes less slushy: Housing Wire: Fed will keep interest rates low until economy recovers. CNBC: Homebuilder confidence\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4234,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4234\/august-was-a-great-month-for-real-estate-sales-but-when-40-of-buyers-are-pushed-off-the-playing-field-home-prices-could-plummet\/","url_meta":{"origin":563,"position":1},"title":"August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet","author":"Greg Swann","date":"September 6, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0August was a great month for real estate sales, but when 40% of buyers are pushed off the playing field, home prices could plummet We won't have reliable numbers for a few days,* but preliminary results leave\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12105,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12105\/if-wind-and-solar-power-were-practical-entrepreneurs-would-invest-in-it-there-would-be-no-need-for-government-to-take-money-from-taxpayers-and-give-it-to-people-pushing-green-products\/","url_meta":{"origin":563,"position":2},"title":"“If wind and solar power were practical, entrepreneurs would invest in it. There would be no need for government to take money from taxpayers and give it to people pushing green products.”","author":"Greg Swann","date":"May 29, 2010","format":false,"excerpt":"John Stossel on the phractured physics of \"green\" energy:Maybe the electric car is the next big thing? \"Electric cars are the next big thing, and they always will be.\" There have been impressive headlines about electric cars from my brilliant colleagues in the media. The Washington Post said, \"Prices on\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":17539,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17539\/overnight-news-q-what-are-we-having-for-thanksgiving-a-redpills-all-you-can-handle\/","url_meta":{"origin":563,"position":3},"title":"Overnight News: Q: What are we having for Thanksgiving? A: Redpills. All you can\u00a0handle.","author":"Greg Swann","date":"November 25, 2020","format":false,"excerpt":"America is in rebellion for Thanksgiving, and that is a wonderful thing to behold. We muck up Thanksgiving with stories about benevolent aboriginals and malevolent proto-Marxists, but the Pilgrims who celebrated our first Thanksgiving were religious rebels \u2013 and by their uninterrupted actions they founded a nation of rebels-of-conscience. Tomorrow\u2026","rel":"","context":"In "Flourishing"","block_context":{"text":"Flourishing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/flourishing\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17101,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17101\/overnight-news-so-whats-up-with-the-listings-that-didnt-close\/","url_meta":{"origin":563,"position":4},"title":"Overnight News: So what\u2019s up with the listings that DIDN\u2019T\u00a0close?","author":"Greg Swann","date":"September 23, 2020","format":false,"excerpt":"When you report the great news about closed listings, what are you leaving out? News about the listings that didn't close. There is huge demand for suburban, exurban and rural housing because demand has cratered for urban housing. Why? Mass exodus from vertical to horizontal. Why? Urban rioting. See that?\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18437,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18437\/overnight-news-what-a-great-day-for-fiasco-joe-biden-to-resign\/","url_meta":{"origin":563,"position":5},"title":"Overnight News: What a great day for Fiasco Joe Biden to\u00a0resign.","author":"Greg Swann","date":"August 31, 2021","format":false,"excerpt":"I expected Fiasco Joe's resignation a week ago tonight. This evening's good, too, and China Joe's reputation sinks with every hour he remains in office. But I am well-advised by myself to dismiss normality bias \u2013 the absurd belief that, since yesterday was good, tomorrow will be, too. We are\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=563"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/563\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}