Tailorsmortgage.com

We are tightening the belts but we are pushing forward. Bring it on what you need. Our service areas are in the comment section.

Meanwhile, here's some interesting news from RE arena!

=====

Blackstone Remains Committed to Tricon’s Extensive Housing Development Platform, Including its Pipeline of $1 Billion of New Single-Family Homes in the U.S. and $2.5 Billion of New Apartments in Canada

Plans to Improve Quality of Existing U.S. Single-Family Homes through an Additional $1 Billion of Capital Projects

Blackstone Real Estate to Take Tricon Residential Private - Blackstone Press releases, portfolio company news, and timely updates on our business.

are your handcuffs golden? the market forces us to either wish for golden or have none! what do you think?

You know who deserves a great rate? Someone with great credit. If that sounds like you, call today to learn about your elite options.

Navigating mortgage options after divorce can be tough – we can help. Let us walk you through your options and some financing benefits to help you start your next chapter.

A picture is worth how many words?

Fasten your seatbelts, and brace yourself for impact. A possibility that is.

Is it strong tho?

I'd say let's let the time tell the tale.

Norms are nothing but ever changing definitions of what we identify as "normal".

Let's welcome the new norm of 7's. This will shake things up heavily if sustained.

April 2023: Largest YoY Median sold home prices declined since 2012.

Are we buying, selling, or holding?

Let us help you with home loans. Licensed in Arizona, California, Texas, and Florida

Should you pay-off your mortgage early?

Key takeaways expanded:

1) Paying Off My Mortgage Early Reduces Income Uncertainty
2) Paying Off My Mortgage Early Reduces Interest
3) Paying Off My Mortgage Early Forces Me to Save
4) Paying Off My Mortgage Early Has Psychological Benefits

Should I Pay Off My Mortgage Early in This Economy? Wharton finance professor Michael R. Roberts revisits whether homeowners should invest extra money rather than use it to make additional mortgage payments in the current economic environment.…Read More

Hang tight, people, and fasten your seatbelts, we are reaching 7%.

Shall we get this party started? 🥳🤯

Thoughts?

National level housing market sentiments in one graphical shot.

Make no mistake, never bet against the United States, and the american dream.

Property market and locality have always been, and will always be mutually reflective.

Capitalism can neither exist nor can it flourish without attaching monetary value to housing.

First time, after 2008 crash, the growth rate turned negative for registered NAR Realtors. This is May, 2023.

What do you think is happening here?

"Lots more price declines are coming,” warned Mark Zandi, chief economist at Moody’s Analytics.

We are witnessing interesting times of our lives on the real estate front, one of the primary drivers of capitalism. It's high time CRE world gets the spotlight that it's successfully been dodging.

Another of takeaways here:

"We expect maturing loans to begin to break the logjam and provide greater clarity as this year goes on. However, it may take until 2025 for volumes to get back to previous years’ levels,” said Jamie Woodwell, head of commercial real estate research at MBA.

US commercial real estate post first price decline in a decade "Lots more price declines are coming"

From us all at Tailorsmortgage.com, Happy Mother's Day!

Phoenix, the poster child of real estate market, saw positive home value gains for straight 130 months since October 2011, only to see 9 months of declines since August 2022.

Would you say the decline is declining?

Will we see Phoenix back in positives starting May?

A lot of interesting market movements here.

• April sales declined by over 21% than last year, but higher than March, illustrating inched upward movement.

• Single family existing home inventory up over 39% than 2022.

• Over 5 months of supply for under construction homes and about 1.25 months for ready to go new builds.

• Share of new build homes is at record levels, above 25%. This could be because reduction of supply in existing homes for sale, tied up with the fear of losing locked low interest rates.

• Still, over 1.6 million houses are under construction, including single and multi family.

• March sales declined about 22% from last year. Over 680,000 new builds sold in March, down 3.4% from last year.

• Mortgage delinquencies are on the decline.

Phoenix valley's 25 wealthiest zip codes are out. Southeast valley folks rejoice, Chandler (85249 at #8, and 85286 at #21) took two spots, along with Gilbert and Mesa.

How rich are the rich areas of Maricopa County? - Phoenix Business Journal Incomes are slightly down this year in the Valley's richest ZIP code.

Surfers, rejoice! Another 25 acre surf park coming to the Phoenix valley.

Cactus Surf Park | Gilbert, Arizona We are thrilled to announce that we will be partnering with Cactus Surf Park at The Strand to bring the community’s first state-of-the-art recreational water park attraction to Gilbert Regional Park!

Exciting news for surfers! A 37-acre surf park coming to the Phoenix valley, which will also have an on-site hotel.

37-Acre Surf Park Coming to Phoenix Looks Pretty Incredible It'll even include a hotel on the premises.

Interesting stats by RE/MAX Excalibur

Latest Corelogic HPI is out. Miami is winning hot and heavy!

Home prices nationwide, including distressed sales, increased year over year by 3.1% in March 2023 compared with March 2022. On a month-over-month basis, home prices increased by 1.6% in March 2023 compared with February 2023

=====

US Home Price Insights – May 2023 Annual U.S. home price growth dropped to the lowest rate since 2012 in March.

What do you think about this? Will the momentum last or it's dead cat jump?

"Home builders sold 3.5 homes per community in March 2023, which was 20% above the typical 2.9 net sales per community seasonal average from March 2013 to March 2019."

NAR Confidence Index

Highlights

27% of buyers had all-cash sales, nearly unchanged from 28% last month and 28% in March 2022.

First-time buyers represented 28% of buyers, virtually flat from February 2023 and down from 30% in March 2022.

65% of respondents reported that properties sold in less than one month. This is up from 57% a month ago and down from 87% in March 2022.

Homes listed received an average of 3.2 offers, slightly from 2.7 last month and down from 4.8 offers in March 2022

=====

cdn.nar.realtor

Are you rich? How rich are you?

Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth

The top 1% of net worth in USA in 2022 = $10,815,000
The top 2% of net worth in USA in 2022 = $2,472,000
The top 5% of net worth in USA in 2022 = $1,030,000
The top 10% of net worth in USA in 2022 = $854,900
The top 50% of net worth in USA in 2022 = $522,210

February was friendly for home prices as it rose 0.2% according to Case-Shiller National Home Price Index.

Do you think the trend will continue in March and for rest of the year?

Are you holding or actively hunting?

Data by Redfin.

Rents are on the move. For now, increasing rents are ahead of the game with 48% of the share. Think this trend will sustain?

Some stats from Phoenix residential property market: prices are down 8.5% from 2022, but remains up by 17% from 2021

Fresh off the press from Corelogic. Their forecasts suggest YoY residential property price increase of 3.7%.

Are you still on the fence for buying?