Comments on: ASU Realty Studies Releases March 2008 Home Sales Stats

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By: Arizona Mortgage Guru » Should I Borrow From 401(k) For Down Payment

Arizona Mortgage Guru » Should I Borrow From 401(k) For Down Payment — Fri, 18 Apr 2008 18:57:17 +0000

By: John Wake

John Wake — Fri, 11 Apr 2008 03:30:51 +0000

Full press release here.
http://www.arizonarealestatenotebook.com/2008/04/09/asu-phoenix-real-estate-statistics-sales-continue-softer-than-2007/

The last line mentions an RSS feed although I haven’t tried it.

By: Foreclosure Expert

Foreclosure Expert — Fri, 11 Apr 2008 01:45:22 +0000

Here’s a take on foreclosures. It has a secondary link back to my real estate site so I understand if you delete it:

Here are the sales numbers for March 2008, taken directly from MLS:

Total sold – 4,291
Total sold that were listed as distressed – 1,162

That means roughly 27% of all home sales in the Metro Phoenix area were either: a.) court approval required, b.)lender/corp approval required, or c.)lender owned property. For more details related to individual cities go to:

http://www.foreclosureexpert.info/2008/04/march-foreclosu.html

By: BawldGuy Talking

BawldGuy Talking — Thu, 10 Apr 2008 18:29:57 +0000

Homedealer — I obviously didn’t make myself clear, as that was my point. The public’s perception had to be one of the biggest factors in sales increasing over 15% in 30 days. It’s hugely important.

MSM are doing their level best to ensure negative spin by constantly talking about year over year. I’m not saying that stat isn’t important, but when the circumstances are obviously changing in real time, its value diminishes tremendously.

By: HomeDealer

HomeDealer — Thu, 10 Apr 2008 17:50:23 +0000

Perhaps, but the public’s perception is important, BawldGuy.

By: BawldGuy Talking

BawldGuy Talking — Thu, 10 Apr 2008 06:40:29 +0000

Seriously Jay, the key figure for such a large area as Phoenix, is a jump in sales of over 15%. Give or take, that’s 500 homes difference in a month. It’s the trends that help. It always cracks me up when MSM falls back on the old ‘year over year’ approach.

Of what relevance is that figure, when the circumstances last year were so different than now? The question for which an answer might yield real gold, is: What’s the difference between February and March? Nothing empirical — with the lone exception, possibly, of the public’s perception of the market.

I’m resisting the urge to say Bingo! but barely.

By: Brian Columbus

Brian Columbus — Thu, 10 Apr 2008 06:36:05 +0000

Well at least you’re giving my Alma Mater it’s due (Real Estate Program ‘96). Jay is a great researcher… I used to work on the studies. I’m not sure how they do them today, but 10 years ago it was periodic research calls by students. Ahh…the joy of cold calling. Knowing a little about the historical metro Phoenix market, I’ve got to agree with you. In Phoenix, a flat market isn’t the worst thing to have. The late 80’s and early 90’s were pretty volatile both in terms of absorption and valuation. Hopefully, this time around the cycle will not be another roller coaster ride.