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 2021. And on January 14th,, 2022 we closed on the “Condo On Crismon”.
We’re still on the sidelines now. The Phoenix housing market is constrained by a lack of inventory. Here is a local example (thank you Daniel Ochoa, West and SouthEast REALTORS of the Valley), but this applies across the Phoenix area:
Note the left-hand graphic, “NUMBER OF HOMES ON THE MARKET”: 2021 show less than half the homes on the market compared to 2020. And January 2022 is even worse. So, Jeff and I are not in the market for TMP SFHs.
Jim and Michelle are in the commercial real estate market. In December 2021 we bought a 10,000 sq ft retail building on Power Road in Gilbert and Mesa. In both cities? Yes, it is in a Gilbert “island” surrounded by Mesa properties. It is currently occupied by two tenants. We will have more exciting news on this property next week.
And we are currently under contract to buy a property built in 1925 that is on the “National Register of Historic Places”. Again, more later.
In the meantime, Jim went to the cabin in Flowing Springs to get snowed in on Tuesday. Weather prediction was for rain/snow to start on Tuesday afternoon, changing to snow in the evening and morning and all-day Wednesday. Nothing happened. When I got up at 6 am on Wednesday, no snow, no rain. But at 7 am light rain started. Then as I was talking to Michelle on the phone, it turned to snow.
At 930 am on Wednesday:
By 1130 am:
“I’m living in a snow globe.”
Later on Wednesday:
