Mike Foulds - Realtor

04/15/2026

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!!

03/23/2026

Phoenix Real Estate Market Update:
2026 Sales are slightly better than 25 which were a little better than 24! Median Home Price is $450,000. Inventory of available homes is up to 25,713 which is much higher than normal! Interest Rates are still the deterrent for Buyers in this Market!!
When you factor our higher prices and the high interest rates, it makes it tough for Buyers to purchase. With the economy still not very stable, I don't see much change in rates any time soon.
Rental listing inventory has finally come down by 8% to 6629 available rentals in the Valley!
If you would like to find out the Value of Your Current Home, please Call or Text me at 602-316-9220! I will be sure to give you an honest assessment of your home's value!!

01/28/2026

I just participated in an NAR Webinar with Lawrence Yun, Chief Economist. Very interesting! He predicts the National Real Estate market to start 2026 a little slow. However, if interest rates stay around 6%, he predicts the market to improve by 10-14% this year!!

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01/12/2026

I was just informed that I was in the top 15% of All Realtors in Arizona in sales in 2026!!! I'd like to thank all of my amazing clients for making this possible!! Coming up on 24 years in Real Estate! If you are looking for an experienced, capable Realtor to help you buy or sell a home, I'm your man!! PM me or call/text 602-316-9220!

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09/16/2025

Phoenix Real Estate Market Update:
The market continues to struggle due to high interest rates and an overall weak economy.

Average time on the market keeps increasing and currently sits at around 86 days. The median home price stands at $440,000, down from a high of $475k in June, 2022.

There are currently 24,000 homes on the market, compared with 18k last September. In May 2023 there were only 11,000 homes on the market.

On the bright side, interest rates have fallen slightly recently to around 6.1%. The high for the past year is 7.2%. There seems to be an injection of slight optimism which is releasing some of the pent-up demand.

There are currently 8565 homes under contract in the region. This is the highest we have seen in years!

My suggestion is if you need to buy a home - now may be a great time! Waiting for further declines in interest rates may not pay off, due to continued job losses, inflation, tariff effects and other negative economical stats.

Many analysts believe if rates get down to 5%, it will create a buying frenzy which could lead to increased prices.

I believe it is better to jump in while prices are ebbing and pay the prevailing interest! You can always refinance when the rates drop in the future. However, if you wait too long, you will pay a higher price for your home which is more costly than short term interest rates.

If you or someone you know wants to buy or sell a home, please contact me ASAP!! [email protected] or 602-316-9220! I pay referral fees to anyone sending me a new client!

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08/13/2025

Attention Realtors and Brokers!!

I got a letter from Homes.com alleging that Zillow is conducting practices that could be affecting each of our livelihoods!!

I am not sure how to verify these allegations! Has anyone else received this letter? Do you know if these allegations are true? If so, do you know if there is anything being done to combat them?

They suggest we all notify the US Dept of Justice Antitrust Division ASAP>

Thanks, any info will be appreciated!!

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06/18/2025

Phoenix Area Real Estate Update!

Well, homes are starting to move again after a long stretch of lower closings. Inventory had its first significant drop since January 2024. However, there are still 25,000+ homes for sale in the Valley. Inventory then was only 15,000+ homes.

Interest Rates lingering near 7% is still the cause for limited buyer activity and that doesn't look like it will change any time soon! Americans got spoiled with rates in the 3% range until January 2022. A lot of buyers have never seen rates this high, but I remember buying my first home at 13.5% in 1985!

Honestly, a buyer would be better off buying now at the slightly higher rates and then refinance in a couple years when they decrease! When rates do decline, we should see a flurry of buying activity due to pent up demand which could increase prices substantially! Some lenders say, "Marry the House and Date the Rate!"

If you would like to know the current value of your home, please email me at [email protected]!

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05/03/2025

Phoenix Market Real Estate Update:

Well, listings are starting to pile up on the market! We have added more than 5000 listing since 1/1/25. That is an increase of more than 20%

With that, prices have leveled off and, in some neighborhoods, decreased a bit. High interest rates have really crippled our market over the past 3 years!

There is still a lot of pent-up demand though! A lot of people would like to upsize, downsize, or otherwise relocate; but they are shying away from rates near 7%.

Available rental homes are also rising again, following a trend that started in 2021.

Would you like to know what your home is currently worth? Please email me at [email protected] to find out!

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03/18/2025

Did you know that Arizona has the 12th lowest property taxes in the USA? At .63 effective tax rate, we are better than 38 other states!!

I would gladly pay more in property taxes if the money went to improve our education system!!!

How about you?

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