Longtime readers know my thoughts on the current run up in real estate prices versus the last cycle: now we are supply constrained, whereas before we had excess demand driven by insane credit.
A recent article in the Wall Street Journal explores where we are in the real estate cycle versus the previous 2006 peak. On an inflation-adjusted basis, US real estate values are 20% less than the previous peak.
When compared to the stock market, and most particularly technology stocks, the real estate market looks downright sleepy. If the stock market takes a hit, seems like real estate is primed to be a safe haven as people run for the exits.
Unlisted real estate cashflowing 10% or more annually can be found here.
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Closings Slow week with just 4 closings totaling $5 million. Listings
This week brings 13 new listings, ranging from $385k for a tiny 899 sq. ft. home to $3.3 million for a 6,700 sq. ft. hillside contemporary.
The ultimate in penny wise and pound foolish happens all too often: a multi-million listing with photos snapped on a smartphone. I won't shame the lister here, but it will be quite apparent in this week's listings.
Sadly, there are no homes this week I would single out as a "must see" for either quality or value. There are several homes with possibility, and some that have real problems. Hopefully next week will bring a more interesting mix.
To see all of this week's new listings please click here.
To see everything on the MLS in Paradise Valley please click here.
That's all for this week, I'll be back next week with all the latest in Paradise Valley real estate.
Thank you,
Alex Goldstein(480) 442-7325
p.s. Have you signed up for the VIP list? Click here for priority notification about unlisted properties, and opportunities that meet your specifications. You will only be contacted about properties that meet your specific criteria, and there is never any obligation.
(c) 2015 Alex Goldstein PLLC
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