👉Redfin reports SPIKE in Canceled Contracts

Nationally there is a spike in buyers walking away from their contracts. But not in Arizona.
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Rick McHone
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✅Website:www.Rickhelps.com
Realtor
Agave Homes and Investments LLC
AZ License: SA645991000
Lender Pat McMasters/Price Mtg-480-251-1691
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[@slopsec2358]

Well, they did it again. You're not in my notifications. I'll be so happy when youtube gets some good competition.

[@Rickhelps]

@@slopsec2358 I wish I knew how to correct it

[@RealLifeFinance]

It gets me on a few of my channels. Foe a while it was showing me East Coast time. I was missing Rick's lives by 3hrs. Lol

[@Rickhelps]

@@RealLifeFinance I have two live events. Monday 8:30 am and Thursday 5pm

[@slopsec2358]

@@RealLifeFinance Yeah, but I'm only about 30 min from them, except when I'm in Gilbert, then we're neighbors. It's been doing this for a long time on several of my subs. It's not time related for me. I just don't get notified at all, while several others work just fine. Weird.

[@2023Red]

@Rick Pat. I cannot get my arms around selling then buying another home. We like our current one. But we would like to move to an area less prone to a change in demographic in the next decade. There are so many houses and apartments being built right now in the area north of Costco Avondale all the way past the stadium. Here are my reasons for staying put: 1. Unexpected costs in buying again. 2. Unexpected costs in selling our home. 3. My equity may not suffice to sell then buy. There is emotion as well. I do not need a buyer walking away from their contract to buy. There are so many 'got cha's' out there and the realtors know them all in my opinion. Failure to qualify is one, all the buyer has to do is lie to the lender and there goes the deal. Or buy something or say they lost their job. Despite earnest money, it appears the potential buyer can walk away after the inspection period ends. Or offer a low ball because they discovered market adjustments two days before closing. Or cracks in the driveway. It is confusing to me.

[@Rickhelps]

Those are tough questions to answer. 1. If you like your home but want to move due to a cultural and political bias I can't help with that one. 2. Your potential equity is simple to find out. Cost of buying again no matter what year is always a question of where you buy. 3. Buyers falling out or canceling have always been a part of the transaction and you need a good listing agent to do due diligence on the buyer's qualifications. Buyer's might try to lie but it does not hold up. During the inspection period of course buyers can leave for any reason. If the buying agent gets a feeling the seller might be difficult to work with he may advise the buyer to find another property.

[@msingleton]

Rate cut projections “The flight will be leaving in a half hour” announcements. Eventually you realize it’s been a week on the tarmac.

[@Rickhelps]

I love this analogy

[@four20smp]

Pat, if someone has two “full time” jobs which full time is 32 hours a week and they were in the same line of work, most lenders will accept 1 year of work history for that second job.

[@janereinhardt4715]

I saw my 1st ever Palo Verde beetle last night. It appeared on my back patio about 15 minutes before the rain started. Weather forecasters should use the Palo Verde beetle movement for rain tracking. I read that they appear from underground when the rains arrive, looking for love! - yuck!

[@AJ78900]

Love the shirt, having chicken pot pie for dinner 😂

[@jeffg4096]

I started saying this a couple of months ago that initial listing prices would drop 8-12% .. at least. And that's now come to pass. Trend is now going in the other direction, down. I've been looking at several props in Chandler. Why would someone pay .. say $475k today if you could get it for maybe $400k in about a year and with somewhat of a lower interest rate? No one can predict the future exactly, but the trend is notable now.

[@Rickhelps]

The numbers to look at are the avg sales price vs the asking price. The problem is that listing prices only indicate what people are hoping to get. They may have dropped but the avg sales prices have not. In July they went up by 1.2%.

[@mexicandoll31]

I do not care much about interests rates. I would not buy until prices come down, and if they don't, I continue renting Arizona market is overpriced by fomo and investors but the vast majority doesn't earn to pay this prices.

[@msingleton]

Trueflation: Imagjne if housing inflation was only up 25.33% since 2020. The housing market would be in much better shape.

[@jungcarlgustav]

Here we go high 5s

[@Rickhelps]

@@jungcarlgustav not holding my breath

[@RealLifeFinance]

​@@RickhelpsI still think it's funny you lost $1 to pat 2yrs ago when raes dropped below 6% for a day. You and I said no more 5s for a while. At least we predicted better than the pros.

[@0529mpb]

How?

[@CaptainCaveman1170]

The lower rates go, the worse the bond market thinks the economy is doing. The Fed is almost a passenger on the ship, not as much a captain as people think.

[@jungcarlgustav]

I just want to refi an investment property. No rush.

[@Detached_AZ]

@Rick...The ECHO was on Your end...Just sayin