By: Payam Raouf
Designated Broker
7/31/2020
It's over for now! Roger that.
We did say that once we
get through the panic selling and people getting used to the virus, home prices in phoenix metro will
fly and it is doing exactly what we told you.
Now so much money is sitting
on the side line that trying to pick up a deal here and there is making no sense
at all!
New or resale are
untouchable. It’s a Big Gamble. Investing in Single Family Residential Property at these prices
is pretty risky unless you have to.
They say inflation is at
bay! Bay of Pigs perhaps.
Everyone just went at it
at once, the whole world printing money with very little or even no backing. The
mother of all gambles. It’s a Roulette. Put
all your chips on red or black and watch where it lands.
For now, the ball is
spinning and the crowd is cheering. At some point this game is going to turn into the Russian Roulette.
Any other options, NONE!
Yes, we can keep printing
money. but ... author of "End the Fed," predicts such money creation will lead to disaster, ... resulting
in chaos and civil unrest.
I also want to join the
fun. Considering, I know it all, I should be able to score some. Where do you
keep your money, at the bank? I have already lost my buying power by 10% this
year so far!
I guess I am going to ride
this election out. It is a game changer. By then the ball has landed either
on red or black. It’s a game of luck and hope the casino is not cheating.
home price gains to No. 1 in US
Photo
by: Feverpitched/Getty Images/iStockphoto
Sold
Home For Sale Real Estate Sign in Front of Beautiful New House.
By: Angela Gonzales,
Phoenix Business Journal
Posted at 9:06 AM,
Jul 31, 2020
and last updated 9:14
AM, Jul 31, 2020
Phoenix has reported the highest year-over-year
gains in home price growth, well ahead of other key U.S. cities.
With a 9% year-over-year gain in May among 19
cities measured by the S&P CoreLogic Case-Shiller U.S. National Home Price
NSA Index, Phoenix was followed by Seattle, at 6.8% and Tampa, Florida, at 6%
growth. The national average was a 4.5% annual gain, down from 4.6% in the
previous month.
Phoenix-area housing demand continues to
skyrocket, while supply languishes, said Jim Belfiore, founder of Phoenix-based
Belfiore Real Estate Consulting.
"The perfect storm is here, and with
mortgage interest rates so low, buyers should expect home prices to continue to
rise unabated," Belfiore said.
Even despite the surge in prices, the average
home sales price in the Valley in June was $305,000 — about $70,000 less than
the national average sales price — while the median price was $368,600,
according to the Arizona Regional Multiple Listing Service.
