Arizona Home Talk

Have we reached the bottom of the nasty green pool that has been the Phoenix Real Estate market for the past 3 years?

I have been so busy with home buying clients I have not had the time to write 1 new post in the past month! Shame on me. Typically this blog is updated at least 4 times per month with the latest goings-on in Phoenix Real Estate. I promise more posts are coming soon!

I have been taking lots of pictures/video of foreclosures and other real estate drama that I’ll share in future posts.

But for now I thought I’d share the 3 most interesting articles I’ve read in the past week about what the heck is going on in Phoenix.

#1 - Low-priced foreclosures incite bidding wars by Johnathan Cooper is an article about Phoenix-area bank-owned deals FLYING OFF THE SHELF and you will most likely loose out on several before getting one - it is that competitive.  No Joke. I will post more on this phenomenon later.

#2 - Home prices up for 1st time in 3 years by Les Christie is an CNN Money article about the market stabilizing and the supply and demand beginning to correct.

#3 - New-home sales in US climbed 11% in June by the Associated Press is a short article about a spike in activity for new-home construction.

I realize that the market will remain flat for years and we won’t see the ‘04, ‘05, ‘06 appreciation again in our lifetime…but do you think we have reached a bottom?  Is now the time to buy? Drop me a line in the comments.