The December Market Update comes at a time when we are seeing a lot of interest in listing homes. We seem to be getting a new call or email every few days from people who want to list in the new year.

Does this mean that we are in a bubble? I don’t know. See last month’s Market Update to see why I think the market could be turning a little in 2018.

The Arizona Republic reported last week that we are definitely NOT in a housing bubble right now.

I agree.

But that does not mean that there won’t be a correction. First, we are not in a bubble because (1) we are not seeing unrestrained debt-loading like we did in 2004-2007 and (2) there is still a strong demand for new housing, especially in CenPho where there is hardly any new owner-occupied construction.

Second, a correction does not necessarily mean that the market will plummet by 30%, as it did in the last decade.

What it means is that homes are priced a little too high. Again, see last month’s analysis for more on that.

My gut tells me there could be a 2% to 5% correction in 2018.

I could be wrong. I’ll admit it if I am.

The important thing to keep in mind is that we need to look at your specific case.

For instance, if you purchased a home three years ago and you are thinking of selling, it might be a good time. If there is a market adjustment in 2018, prices could be back to 2015 levels by the end of the year. Then you may have to wait another two years to sell.

If you purchased a home in 2009, you are in a great place to sell, as prices have come so far since then.

If you are thinking of purchasing, you may want to wait –unless you are in a position that any savings you have during a slight market downturn are eaten up by further renting while you wait for that correction to bottom out.

Give us a call at 602-456-9388 to analyze your specific situation.

In my capacity as a fan-boy of the Phoenix Public Works Department’s efforts to create a circular economy, I figured it would be a good time to talk about hazardous waste.

Try to suppress that yawn. This is actually pretty cool stuff to think about.

I know, its not Game of Thrones, but its pretty interesting to see the lengths the city goes to in order to make this a cleaner place. Plus, it is super-duper important that we recycle more in Phoenix. This is especially true of hazardous waste.

For virtually zero dollars, you can recycle used computer bits and used up batteries (which have lots of rare earth metals in them), old paint (a petroleum product), CFL light bulbs (which have trace amounts of lead in them) and those nasty chemicals that have been sitting under your sink for most of your adult life.

Here’s a cool little video on how recycling computers, batteries and old phones can help reduce how much we have to mine for expensive rare earth metals in the future.

And, here’s a mostly-unrelated video on how you can reduce your carbon footprint by choosing slower shipping for those Christmas gifts you purchase on line. (I couldn’t help myself.)

The best part is that this gives you an opportunity to clear out all those drawers and cupboards that you’ve been avoiding for years.

So, its really simple to do.

First, look at this link to see when and where the next hazardous waste collection event is going to happen.

Second, fill your car with the items that can be accepted at the collection events. Here’s a link for that.

Third, grab a copy of your last water bill and go to the collection site. (I forgot my bill last time. Don’t do this. The staff looks at you with that “Really? You couldn’t remember that one thing?” if they ask you for the bill and you don’t have it.)

When you get there, you will see a huge array of city staff directing cars, pulling things out of cars and separating out different hazardous items. Its odd at first, because you are not supposed to get out of your car. They want to just pick up the items out of your trunk, or wherever.

Its like a valet service for all those old items you did not know what to do with since George Bush was president.

So, there you go. Its easy to do on the way to a Saturday hike. Plus, it makes you feel all warm inside for doing your duty to family, city and the environment.