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May 2020 Hi Desert Real Estate Market Update
Spring Greetings Real Estate Fans! Once again it is time for my monthly real estate market update. April is in the bag and we are moving towards summer. Obviously, the Pandemic is taking a toll on our market just like most around the nation. Yes, we are selling real estate (at this writing I have four open escrows). Just like last month, I still maintain that no one has any idea what to expect as we come out of this. I have no intention of piling my opinion on to the countless opinions you have heard. Here is what I know about the virus and how it is affecting our…
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April 2020 Hi Desert Real Estate Market Update
Greetings my “Shelter in Place” Friends, No question we are all experiencing something we have never experienced before. Make no mistake, along with all the other issues this pandemic is having, real estate buying and selling is pretty much stagnate at this time. Many of you have reached out to me for my opinion on how this will all play out. All I can say is this is new for all of us. No one, and I mean no one, has any idea. All the talking heads are in the same boat. At this time, no one knows how this will play out. BUT…I can give you a bit of…
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Market Newsletters Mortgage Update!
A reprint from Market Newsletters. Are We In The Midst of Another Mortgage Meltdown? Things are changing rapidly in the mortgage market. Almost overnight, loan programs have disappeared, interest rates are all over the place, and more than a few lenders are closed for business indefinitely. All this despite the Federal Reserve buying more than $100 billion / week of mortgage debt. Is this another meltdown? In many ways, the current situation is far worse than the 2008 meltdown. Credit is evaporating more quickly. Mortgage rates aren’t as responsive to Fed bond buying. Borrower income/employment demographics have imploded much more decisively and much more suddenly. And the average mortgage servicer is…
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March 2020 Hi Desert Real Estate Market Update
Greetings, As the weather changes, many are chasing the green to find good real estate deals. Below is the current market conditions from a mathematical view for the Hi Desert communities. Nothing makes a real estate transaction better than having informed and educated Buyers and Sellers. It is my hope you gain some knowledge from the monthly Updates. Last month, February, we saw record escrow closings (well, at least a record for as long as I have been providing these Updates!). In fact, January and February were well above past years for the same month. Other highlights include: Inventory continues to be low. Currently, we are at about July 2017…
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January 2020 and Year End 2019 Hi Desert Real Estate Market Update
Happy New Year 2020!!! This month’s message is a bit longer than normal, but it includes my year end report along with my forecast for the year. With the Holidays behind us, it is now time to focus on the new year and how our local real estate market will respond. Let’s take a quick look at my 2019 forecast and see how I did. Here is what I forecast for the year of 2019 (My comments on the year are in red): I am trying to stay optimistic even though the end of 2018 could point to a slowdown. I am forecasting sales by unit to remain around 1,500…