What Does The Future Hold For Phoenix, Arizona Real Estate?
Over the last 10 years in Phoenix, AZ we have experienced an incredible real estate market. Most of the last 10 year as we have seen real estate prices go up move than 10% each year!
In 2007 for the first time in a LONG time homes in the Phoenix Valley were not selling for record prices and in less than a month.
When I meet with my sellers now, I tell them that it is going to get worse, before it gets better.
However, if you are a home owner and are worried about your real estate asset depreciating, try to take a long term view of your real estate asset. Remember the Phoenix/Scottsdale/Mesa area is still the fastest growing area in the US. Phoenix is also still the #1 job market in the US.
Our long term outlook is good.
Michael Shermer is the founder and publisher of Skeptic Magazine and author of a new book "mind of the Market." In this link he discusses market psychology and its role in the current real estate downturn.
http://www.wellcomemat.com/video/68609AA83E
I agree with Micheal Shermer...when thinking about real estate in the Phoenix Valley...take a long term approach if possible!
Date: Monday, January, 28th 2008 @ 09:10:02 AMViews: 462
Be the First to Comment on this Post!.