Comments on: Phoenix April Home Sales Down, Not Up– Results Skewed By Trustee Sales

By: speedynogales

speedynogales — Thu, 22 May 2008 19:24:28 +0000

August ought to look real good then, currently there are just a few over 6,500 scheduled trustee sales for August of 2008 here in Maricopa County, Arizona. That absolutely does not include any other counties in AZ. The Recorders office simply can’t keep up despite having hired more employees. Sad but true.

By: twist

twist — Thu, 22 May 2008 12:23:56 +0000

Phxagent-

It sounds like he could be wrong back through January.

By: phxagent

phxagent — Thu, 22 May 2008 05:56:36 +0000

March numbers are probably wrong too

By: uuuthe

uuuthe — Thu, 22 May 2008 03:47:42 +0000

Seems like ALL of the numbers are skewed. Corporate earnings (not factoring inflation), housing, inflation itself (excludes gas and food).

Inflation numbers that the gov’t is releasing are such a joke! Who DOESN’T eat or drive?

By: Josiphos

Josiphos — Wed, 21 May 2008 18:22:55 +0000

I was just about to rush out and buy a Spec house in Phoenix too!

By: dogtownsurfer

dogtownsurfer — Wed, 21 May 2008 18:13:01 +0000

Think we’ve hit bottom? The Fed sure doesn’t.

From the minutes released thsi morning:

The housing market had continued to weaken since the previous meeting, and participants saw little indication of a bottoming out in either housing activity or prices. Housing starts and the demand for new homes had declined further, house prices in many parts of the country were falling faster than they had towards the end of 2007, and inventories of unsold homes remained quite elevated. A small number of participants reported tentative signs that housing activity in a few areas of the country might be beginning to pick up, and a narrowing of credit risk spreads on AAA indexes of sub-prime mortgages in recent weeks was also noted. Nonetheless, the outlook for the housing market remained bleak, with housing demand likely to be affected by restrictive conditions in mortgage markets, fears that house prices would fall further, and weakening labor markets. The possibility that house prices could decline by more than anticipated, and that the effects of such a decline could be amplified through their impact on financial institutions and financial markets, remained a key source of downside risk to participants’ projections for economic growth.

By: agnostic

agnostic — Wed, 21 May 2008 17:10:52 +0000

What’s worse – ignorance or incompetence?

By: 45north

45north — Wed, 21 May 2008 13:58:44 +0000

It’s not much of a stretch to say that total sales in 2008 will be less than 2007 – means that if you own in Phonex you cannot sell.

By: NVmike

NVmike — Wed, 21 May 2008 12:41:31 +0000

Wow, Jay Butler caught red-handed.

This explains a lot.

By: Daddymunster

Daddymunster — Wed, 21 May 2008 12:08:58 +0000

It is interesting how people draw conclusions when tabulating numbers. I would be curious to know how many & what percentage of the sales for April 08 were foreclosures compared to April 07.

In addition, when one considers the trustee sales, that to me only signals more foreclosures about to enter the market and compete w/ the regular homeowner. This is not a sign of “recovery”. …Also, we know there are many more NODs, trustee sales, & foreclosures in the future ahead of us due to mortgages going unpaid.

It will be some time before the word “recovery” can be used w/ accuracy.