This month I wanted to lead with something different. (We will get to the real estate news in a moment ;)) everyday life can be a struggle between the good and bad the yin-and-yang we all want to be better and strive to remove our character flaws. This is a daily event and it start with recognizing what you want to excel at for me I think the list here is most relevant: 

1- #fatherhood - becoming the best partner possible.
2- #husband - this should perhaps be number 1 but placing our spouse 1st we are in essence making this the "umbrella" #1
3- #health - take time to care for your self, work on what you feel is important (body, mind, soul, spirit) 
4- #career - work with a unshakable determination and dedication towards your goals. Never give up and serve your client better and at a higher level than you best peers and in that act alone you will differentiate your product and service.
5- #friendship - for me this is about spending time and energy to foster those relationships that are important. Trying to take care of your friends can never be a waste of time. Caring for others is a selfless act that will pay your soul handsomely in peace and solace. We all go to sleep alone, no matter who is out beds. 

#gratitude give your self 10 minutes to watch this video I came across recently. 
It is very impact and delivers a strong message! My gratitude is for each one of you and the opportunity to with with you on your real estate en-devours. Your trust and confidence that you place in me is
Arizona Real Estate picture 9.30.2019
Inventory is low prices are up and we remain in a strong sellers market. Low interest rates are keeping buyers happy and purchasing homes at a record pace. Demand almost always subsides every year between July and January. It’s only when a counter trend occurs that we have a story. When judging your bushels of apples, you want to view the year-over-year trend. Sales in August were 8.6% higher than a year ago, which understates the real year-over-year improvement. There was one more business day last year, which brings our real improvement closer to 13%. This August accounted for the third highest sales volume in ARMLS reporting history, surpassed only by 2004 and 2005, with only 266 fewer sales than ‘04. With 690 more sales this year than last, 2019 sales year-to-date have now surpassed 2018. Looking ahead to how the year might end, I’m willing to go out on a limb and say the prognosticators were wrong back in January (I may or may not have been one of them). 2019 sales will surpass 2018 in both sales volume and price.   
Eric Williamson - August 2019 - Market Snapshot.jpg
In a recent article I saw this headline!
"Phoenix Replaces Las Vegas As Top City in Annual Gains!" - 
prices are up up up! I have to ask how long can this uptrend last we have been in appreciating market for 9 years... All markets rise and fall and perhaps we are primed for a pullback? Just going out on a limb with that one. 
That leads me to the recent flier I put together below and some commentary about the "ibuyers"  offerpad, zillow, knock & open door along with the traditional wholesalers out in the market
Another national iBuyer has entered the Phoenix marketplace. This time it’s Atlanta-based Knock. Knock’s first closing occurred mid-April and to date they’ve purchased approximately 25 properties in Maricopa County. When it comes to iBuyers, Phoenix is ground zero. The question arises, why Phoenix? ATTOM Data believes housing affordability (and availability) likely plays a role in this, as does overall consistency of existing housing stock, stating: “iBuyers rely heavily on data and algorithms when evaluating potential properties. Areas with inconsistent and highly unique housing makes this approach less reliable.” Personally, I believe fate is the primary reason. The CEO of Opendoor was born in Glendale and the entrepreneurs behind Offerpad are from the East Valley. It may be as simple as starting in the market you know best. And while I think fate placed the roots of Opendoor and Offerpad in Phoenix, I think Zillow selected the Valley simply to go toe-to-toe with the competition. For the more conspiratorial among us, it could also be some sort of “hey we’ll team up later strategy.” (When you view the graphic below, you’ll see Zillow is basically everywhere Opendoor is.) ARMLS STAT AUGUST 2019 ARMLS STAT AUGUST 2019 Another reason why Phoenix is so popular may lie in the subtle aftermath of the housing collapse. Large institutional investors like Blackstone, Colony and American Homes for Rent found they could look at properties through computer models and make split-second decisions to purchase, and they purchased thousands of homes this way. As we all know too well, Phoenix was the epicenter of the housing crisis. If you look at the home bases of the iBuyers and the cities where they’re active, you’ll see they closely resemble the cities where the institutional buyers were most active during the housing crash. The successes by institutional investors in 2012 might have offered proof of concept, particularly to venture capitalists. The graphic below shows the markets where the iBuyers are currently active.  
History will tell us who succeeds and who fails, but it should be noted that none of the iBuyers are turning a profit. And Zillow, the behemoth of them all, was just called, “One of the most flawed business models I’ve seen in a very very long time,” by Steve Eisman of Neuberger Berman in a recent interview with CNBC’s “Power Lunch” team. Eisman, who was played by Steve Carell in the movie “The Big Short”, made the comment while explaining why he is shorting Zillow stock. The biggest problem he has with Zillow is what he calls their internet buying business. He does not think the company understands the real risks of the business, which he believes are massive. As an example, Eisman referenced the first words out of the mouth of Zillow’s CEO when the CEO mentioned TAM during their recent conference call. TAM stands for Total Addressable Market, with the Zillow CEO defining TAM as the U.S. housing market in its entirety. Explaining something I’ve attempted to put into words for years, Eisman addressed Zillow’s definition of TAM: “It’s a myth application of the word TAM to apply it to the real estate market because there really is no TAM in the way people think about in terms of the internet. There are thousands of mini markets all over the United States, they’re all local, they’re all extremely different, they all have incredibly different risks.” The iBuyers are not the only “new” business model in our marketplace. It seems a new disruptive venture capital backed business model comes into our market each month- enter Kribbz. And they aren’t just targeting residential sales commissions; they’re also targeting Title, Mortgage, Appraisers and the MLS. Some offer higher prices and greater convenience while others offer monetary savings. Disrupters view our industry as “20th century” with the same talking points always popping up: travel agents, stock traders, and cab drivers. As Purplebricks found out, disrupting the “thousands of unique mini markets” is not as simple as they thought. After entering our market in September of 2017, they exited the U.S. after their stock plummet 75% from when they arrived. How are agents fairing in the field of iBuyers this year? I’d say quite well, with the gross dollar sales volume the highest ARMLS has ever reported through the first 8 months of 2019.   
Last month the STAT mathematical model projected a median sales price for August of $280,000. The August reported median was $280,000. Looking ahead to September, the ARMLS Pending Price Index anticipates the median sales price will decrease slightly, projecting a median sales price of $279,250. It’s a common seasonal occurrence for the median sales price to wobble through the last quarter of the year. We begin September with 6,351 pending contracts; 3,580 UCB listings and 562 CCBS giving us a total of 10,493 residential listings practically under contract. This compares to 9,193 of the same type of listings one year ago. At the beginning of September, the “pending” contracts were 14.1% higher than last year. There were 19 business days in September of 2018 and 20 this year. ARMLS reported 6,897 sales in September of 2018. We expect sales volume will be higher this year, our guess is somewhere around 8000.  
Thank you all for looking through my market update I hope it is helpful. 
As always please let me know if I can help you in any way. Erics' cell 602.435.6708
See you next month. 
**** portions shared from ARMLS STAT