Phoenix, one of the cities hit hardest by the housing collapse, has clearly risen from the ashes. According to the latest release of the S&P/Case-Shiller Home Price Index, Phoenix had the biggest increase in house values from September 2011 to September 2012. Shrinking inventory and strong demand from investors could drive prices even higher in 2013.  Phoenix also made our list of 16 cities where asking prices have risen by double digits. From October 2011 to October 2012, the median list price in this housing market rose by 25%. That was the third highest increase out of 146 cities tracked by Realtor.com. Only Sacramento and Santa Barbara, California had larger year-over-year gains.  While Phoenix was one of the cities affected most by the housing…

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Home sales in Verrado have slowed slightly over the last few months, however there are currently 67 active Verrado homes for sale, with only 5 short sales and one bank owned home.  Within the last 90 days, there have been 49 new active listings, 13 homes under contract (pending) and 9 closed homes, 4 of which were new construction.  In the prior three month period, there were 4 pendings and 12 sold homes in Verrado.  Overall, new construction remains brisk, as new construction typically leads the market.  When builders are running at full steam, the resale market catches some of that wind and the market starts to lift.  Throughout the Phoenix area, there were 1101 new home closings last month, which is the highest number we've seen in a number of years;…

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Metro Phoenix’s median real estate price climbed 5 percent in October after four months of remaining flat. The region’s median price of an existing house reached $157,000 in October, up from $150,000 during the previous few months, according to Arizona State University’s W.P. Carey School of Business.  “The summer lull ended, and we had an influx of snowbirds and other buyers,” Mike Orr, director of Real Estate Theory for the business school, said in the report. Metro Phoenix’s median home price is up 34 percent from a year earlier.  An increase in sales in October pushed home prices higher.  “We’re seeing about 5 percent more sales activity this October than last October,” Orr said. The price and sales increases occurred as the supply of homes for sale…

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As you have probably already heard, T-Mobile’s parent company Deutsche Telecom, located in Germany, will be selling T-Mobile USA to AT&T for $39B.

While I am neither a T-Mobile, nor an AT&T customer, I am in the real estate business and am concerned about what this might mean for loss of jobs and further hits against the local Seattle real estate and housing market.

Considering the size of the T-Mobile headquarters in the Factoria area of Bellevue, it would appear there are a lot of good jobs that are going to be affected by this acquisition, and the number of layoffs that may ensue could be huge.  As a large local employer for years, T-Mobile's workforce no doubt owns and purchases homes in the Greater Seattle Area, and with the loss of jobs and the…

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The Seattle area has more than a year's worth of distressed home inventory, but most big metropolitan areas are worse off, according to a new report.

CoreLogic calculates distressed supply by dividing the number of properties that are at least 90 days delinquent on their mortgages by the number of sales. These homes stand a good chance of ending up on the market as foreclosures or short sales -- where a lender accepts less than the home is worth to avoid foreclosure -- further straining the fragile housing market.

"The weak demand for housing is significantly increasing the risk of further price declines in the housing market," CoreLogic Chief Economist Mark Fleming said in a news release. "This is being exacerbated by a significant and growing…

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