Definition of sovereign guarantee: Government's guarantee that an obligation will be satisfied if the primary obligor defaults. Dictionary Term of Day Articles Subjects Sign Up BusinessDictionary
The median list price for Phoenix-Mesa area homes is $244,900, up 14% from the same month last year, according to the National Housing Trend Report for February 2014 published by Realtor.com.
For instance, Thompson has had a listing in Phoenix for a year that the sellers insisted on putting on the market for $250,000, despite the fact that comparable homes in the neighborhood were selling for around $225,000. Four months and no showings later, the sellers finally decided to drop the price to $225,000. However, home values had declined significantly in those months, so the reduced price was still four months behind the market.