Since Jeff and Jim became “partners” in buying, renting, holding, selling and trading single family homes (SFH) for TheMonopolyProject in January we have bought two houses. We completed the purchase of the house on 29th Avenue in Apache Junction on the 16th of February. And in May we bought a new build house in Coolidge, Arizona: “TMP2 – We Bought Another One!”. But we are on the sidelines now. The market is crazy:

https://www.foxbusiness.com/real-estate/in-phoenix-million-dollar-homes-cant-sell-fast-enough
The popularity has spawned a new trend across the Valley, where people are buying properties and turning them into vacation rentals.
Metro Phoenix real estate is at the top of the hill, with no end in sight
With home prices going through the roof right now, it’s hard not to get flashbacks of what happened in 2008,

But is it slowing down?

“It appears the “feeding frenzy” is pretty much over for the moment. I have 2 listings going live later this month and we’re gonna have a serious convo about it soon. There are often still multiple offers at their price points but properties are taking days, not hours, to sell. And instead of 30 multiple offers, it is 3 or 4.”

Let’s look to our own real estate guru and genius, Jeff Sutherlin:

Jeff agrees that we are seeing the very beginning of a ‘slowdown’, a return to a more normal marker. What should we be doing in the meantime?
Here’s some more outstanding advice from Jeff:

This is excellent advice from Jeff. We are thinking of doing so on our primary residence. Interest rates of 1.75%, yes, 1.75%, are currently offered for own occupied, refinance, conforming (non-jumbo) loans.

In the meantime, we spent the weekend at our cabin on the East Verde River, north of Payson, Arizona. We were trapped by intermittent flood conditions at the wet fords in the river.

Here’s the flood condition when we tried to leave on Saturday afternoon:

We ended up turning back and staying another night. We tried to leave at about 8 am on Sunday but the second crossing was too high.

We finally got out at about 11 am when the water flow was a bit less.