Mike Foulds - Realtor

29/09/2026

Realtors predict these 9 cities will become unaffordable by 2027

I found this article online:
https://www.msn.com/en-us/money/other/realtors-predict-these-9-cities-will-become-unaffordable-by-2027/ar-AA2d7TJM?ocid=msedgntp&pc=U531&cvid=6abc28587f964f4ea163e453f1f584de&ei=32

Phoenix is listed as one of these cities!
One could argue that housing has been unaffordable for a while now! With prices and interest rates so high, many people can't qualify for a home already!

However, I join a lot of real estate pundits who believe that we are in the process of a big correction in home prices. In most neighborhoods, we are down about 10% already. And I believe we are going down another 15-20% within the next 12 - 18 months!
It doesn't look interest rates are lowering any time soon, so the only logical factor that could change the status quo is for sellers to reduce their prices so they are affordable to buyers again!
If you are thinking of moving and you are considering a larger, more expensive home, you might wait a while. However, if you are downsizing, now may be a good time to sell the more expensive home because it will likely lose more value than a smaller one you could buy!

If you would like any advice on how to figure out what to do, please call me at 602-316-9220! Or email me at [email protected]!

Real estate experts from around the U.S. weigh in on cities that are likely to become unaffordable in the coming years for homebuyers (some are nearly there).

03/09/2026

If you or someone you know is considering buying a New Build home, please always take a Realtor with you when you go to a subdivision! If a Realtor is not present at the first visit, they cannot represent you or help you with the process!

This is VERY Important!!! When you enter a contract with a builder, they don't use a standard Arizona Real Estate Contract!! They use their own contract, crafted by their attorneys. Their contract is ridiculously lopsided in their favor!!

Builders also try to railroad you into using their title company and their lender so they make even more money off of you!! You have the right to choose your own lender and could negotiate which title company is used for the transaction!

An experienced Realtor can help in many ways when their buyer is buying a new build. They can advise which upgrades make financial sense and which do not. They can help you navigate through the build-out period.

I go a step further. I will perform a pre-walk-thru before the client does their walk-thru! That way, I can find things that can be corrected before the client sees them. This makes the builder look good, it gives peace of mind to the buyer, and speeds up the corrections so the home is in great condition before closing!

27/08/2026

I am proud to say that I have thrived as a REALTOR and Broker for 24+ years by only working with personal contacts and referrals!! I don't do any advertising and rarely work with anyone who is a total stranger.

The past few years have been tough on REALTORS with high prices, high interest rates, etc. Now more than ever, I would greatly appreciate any referrals of people you know who have real estate needs!

If you know anyone who can benefit from my services, please give me their contact info (or give them mine)! If they even call me, I will send you a gift card of your choice! AND if they buy, sell or lease a home from me, I will send you ANOTHER gift card of your choice!!
Thank you to everyone who has trusted me with their real estate needs to date! I am very appreciative! I wouldn't be here without your support!

As always, my contact info is 602-316-9220 or [email protected]!

Send a message to learn more

24/07/2026

It looks like the beginning of a correction in real estate prices in the Valley! With high interest rates (nearly 7%), the war in Iran, gas prices, and the dismal economy, its about time!

If sellers want to sell their homes, they are going to have to get aggressive in reducing their price until a buyer sees value in purchasing it!

Since I don't see anything in the near future to positively change the factors, I believe this market could see a 10-20% decrease in home valuations! Buyers are getting frustrated and sellers have been frustrated! Maybe this will break the logjam?

Here's a good article that shows that we are not alone:

If You Live in Any of These 6 States, Experts Say Your Property Value May Already Be Falling

15/07/2026

Arizona is still one of the best places for 1st Time Homebuyers to purchase their first home!! WalletHub did a survey of real estate markets around the US and came up with this list of the top 10 locations for someone to buy their own home!
1-Palm Bay, Florida
2-Surprise, Arizona
3-Gilbert, Arizona
4-Tampa, Florida
5-Yuma, Arizona
6-Peoria, Arizona
7-Boise, Idaho
8-Chandler, Arizona
9-Orlando, Florida
10-Murfreesboro, Tennessee

Arizona has 5 of the top 10 markets in the country!! 4 of those cities are in the Valley!!

I have noticed that the showing of homes has increased significantly in the past week or two! Despite near 7% interest rates, a shaky economy and the summer heat!

I am currently working with 2 buyer clients hoping to buy their first home! Last Fall, I helped 2 first-time buyers to move into their own home!

I have the skills necessary to guide you through the home buying process and find a home you love, can afford, and will enjoy for years to come!

If you have yet to buy your first home, please call/text me!! 602-316-9220!!

Call now to connect with business.

09/07/2026

This is Interesting, to say the least!! 4 Arizona Cities have ranked in the top 10 in the entire US for renting homes!! Although our rents have come down a bit, they are still quite high historically!

Scottsdale, Gilbert, Chandler and Peoria all placed in the top 10 with the East Valley cities taking the Top 3 Spots!!

The rankings were based on the average rental price as a percentage of Annual Income!! They also took into account, recreational activities, driving conditions, employment opportunities, and other quality of life factors!

https://www.fox10phoenix.com/news/top-cities-renters-america-data?link_source=ta_first_comment&taid=6a4f15c0d6f55b0001e22005&utm_campaign=trueanthem&utm_medium=trueanthem&utm_source=facebook&fbclid=IwY2xjawS8szZleHRuA2FlbQIxMABicmlkETFVZVZCUTVmNGd6Q2VTZUxqc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHl_fai38y0M1w3ShI2G1Qvgdm7IEzacOruQdtPmxuICnqKaZ21z_qK0OD3cB_aem_qRyaznZVfhrAfO9ftREw9Q

A new report is ranking the best U.S. cities for renters in 2026 – and here's which cities dominate the list.

30/06/2026

If you would like to know the current value of Your Home, please PM or email me! I will perform a Broker Price Opinion on your home's present value. The process is similar to an Appraisal, but you don't have to pay $500+ to get an accurate estimate of your home's value! [email protected].

Send a message to learn more

10/06/2026

Phoenix Area Real Estate Market Update -

Well, the past 3 months have been better than the previous months! The # of Homes Sold for March - May have beaten '24 & '25 numbers! Homes sold this year total 33,000. In '24 there were only 30,600 & in '25 only 31,1200. Not big difference, but with high interest rates, a weak economy and inflation running high again, that's a win!!

Median Home Price is holding steady at $455,000. It appears that higher priced homes are selling better than those priced lower. It could be that once rates come down and prices come down a bit more, the Median will decrease.

Days on Market have been shorter every month this year - currently at 83 days.

It is still a Buyer's Market! Sellers are still dropping prices, offering incentives, etc. to sell their homes. With the Feds likely to raise rates again soon, I don't expect things to change much in the near future. The only possible change will be sellers getting frustrated and reducing their prices more.

If I were a seller right now, I would sell! There are a lot of buyers in the marketplace, but there are a lot of listings. Still, waiting could cost you equity in your home.

If I were a buyer right now, I would negotiate hard and make sure you get the best deal possible! Rates may be high, but you can always refinance when the drop! Some Realtors use the phrase "Marry the House, Date the Rate." Not my kind of lingo, but it does reflect the situation well!

Call now to connect with business.

15/04/2026

This is Great news for Arizona!!

A large home builder has become the latest company to flee California for the more business-friendly neighboring state of Arizona.

KB Home, which has a market cap of $3.25 billion, has announced that it plans to move its corporate headquarters from Los Angeles to Tempe, a suburb of Phoenix, beginning next spring.

The corporate income tax rate in Arizona is a flat 4.9 percent, which is one of the lowest in the country. It is almost half the 8.89 percent net income tax rate in California for C corporations, which KB Home falls under.

More business, high-wage jobs, and opportunities for Arizonans!!