“This is the Best Buyer’s Market…”
Fri, Feb 29, 2008
Housing Market Ready to Rebound? Is housing about to enjoy a spring thaw or will it remain in the deep freeze? Some observers are optimistic.
“I think this is the best buyer’s market that has existed in a decade, maybe longer,” says Russell Shaw, in his 30th year with John Hall & Associates real estate in Phoenix. “There is tons of inventory, great interest rates, and the prices are back in line. If people have a good track record of paying their bills, the loans are there.”
Likewise, Floyd Scott, president of Century 21 Arizona Foothills, which has 10 offices and 460 associates in Phoenix, says: “If I would have described this whole process as a hurricane coming through Phoenix, I would tell everybody that for the last month I’ve been taking the shutters off the windows because I think the eye of the storm and most of it is behind us. Now we’re in the process of picking up the debris.”
Others are having trouble seeing beyond the roadblocks.
“We have this continuing battle with tightening lending standards and it’s going to be tough for prospective buyers, even though they want the homes — that’s going to be an obstacle,” says Young Kim, an economist at Stone & McCarthy Research Associates in Princeton, N.J.
Source: Reuters News, Lynn Adler (02/25/08)
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Tags: buyers market, Phoenix
February 29th, 2008 at 10:12 pm
Hi Becky! Great article, by the way I love that photo of the inside of the home. Got a link to see more photos of the home. Greetings from Orlando , FL!
April 16th, 2008 at 3:55 am
Becky is looking for a retirement home for me in Fountain Hills. But if I was young guy, I’d look at Gilbert really hard. Having been in community planning as a career, I know that Gilbert has the master plan and development codes that will make it and keep it an attractive, neighborhood-based community with lots of amenities.