A recent article in the Wall Street Journal states that the housing bottom is here. Nationally, the bottom was most likely in April. Are we finally hearing good news about the housing market from a major newspaper? Sounds like we are and I definitely agree! There has been an increase in buyer activity in the Valley over the last 45 days - more people looking and more buyers putting in offers. Phoenix continues to work out the problems of the foreclosure properties, but even those are moving off the market. As you read the Wall Street Journal article, you will see that the writer says we will not have another peak for 15 years. Please remember that he is speaking of National speculations, not specifically our Phoenix area. If you speak with many of the commercial real estate experts and economists in our area, they would say that Phoenix is set to have its next little "boom" around 2012. Yes, these are all speculations, but we must remember that these same experts called the current "bust" too. What should you do with this information? The saying goes... you make money on the purchase of an investment NOT the sale. Timing is everything and the time is now.
Have a great week. -Jenny
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