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Metro Phoenix Real Estate – Is the glass half full or half empty? March 31, 2009

Posted by mkuhbock in Arizona Vacation Property.
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Like most people I always hear about those that buy low and sell high but have rarely experience that phenomena myself. The Metro Phoenix real estate market holds a lot of promise for the average investor / homeowner to change their luck.

Metro Phoenix real estate has and is going through a tumultuous time, depending upon the survey, study or report, the Phoenix real estate market is horrible and continuing down the path to utter despair with no end in sight. See a recent Forbes report on the 10 Best and Worst US Housing Markets, we made it to number 2! Most would see the glass as half empty if not total dry, like being out in the Phoenix summer 115 degree heat. But it is a dry heat and as it happens every year in Phoenix the temperatures will moderate and with open arms welcome the shivering masses that are escaping the bitter cold from elsewhere in North America.  Thus I see this as the glass being half full.

Tell me where can you now purchase a principle residence, investment property or vacation home at these prices (2003 levels or lower) and live in an area where everyone wants to either visit to escape the cold and golf, retire to, move to because of the climate and lifestyle or beat the losing investment habit and buy low by getting in at the bottom and sell high in the future while enjoying a respite from the cold.

Thus is the Metro Phoenix real estate glass not securely half full? Add the global aging demographic and reports like the following Forbes report highlighting the top 10 cities where Americans are relocating, Phoenix is #4.

Last month in Phoenix I golfed with 5 different couples that were in Phoenix to get out of the cold and begin the journey of looking to relocate/retire in a more comfortable part of the world.

Thus saddle up to the Phoenix real estate bar and order a big, cool half full glass of opportunity! 🙂

Cheers,

Michael

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Comments»

1. Travis Bohling - April 1, 2009

Positive cash-flow properties are here again if you can get the financing and have the appropriate down payment.

2. kapearso - April 3, 2009

A positive attitude! Something that isn’t frequently seen these days and is a bit refreshing to be honest.

Unfortunately, the pessimist in me keeps think that despite the great financing options and the super low prices, we still aren’t close to the bottom. a recent report indicated that there is a record number of foreclosure notices being sent out in march for the phoenix area. With unemployment rates continuing to rise and expected to reach double digits by the end of ’09, we may still have a ways to go before we see a true bottom.

Still, let us all hope that things turn more quickly than everybody like me expects!


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