Comments on: Phoenix Home Prices Down 21% Year-Over-Year

By: Hidden Valley Resort

Hidden Valley Resort — Wed, 20 Aug 2008 19:02:58 +0000

I got lucky. My ex-wife got relocated to Pennsylvania. I followed her to be with the kids. I know the market is still tough in Phoenix but there are good spots. I found one at a ski resort.

By: James Wheelock

James Wheelock — Tue, 19 Aug 2008 06:09:44 +0000

@Jay – How much further does Phoenix have to go before an FHA purchase with a 30 year mortgage payment is within 15% of the normal rents for the area?

By: Jayson

Jayson — Sat, 16 Aug 2008 07:54:27 +0000

“Now that that’s out of the way”

Mortgage Samson – is there something you know that you’re not sharing with the rest of us?

By: Mortgage Samson

Mortgage Samson — Sat, 16 Aug 2008 07:51:49 +0000

As painful as it was, the market needed a correction. Now that that’s out of the way it is a great time to buy again – of course, full doc this time around, which is fine by me.

By: Jayson

Jayson — Sat, 16 Aug 2008 06:21:57 +0000

Not good news; nothing I want to hear.

It is what it is though, and as you pointed out, it looks like prices may be declining by less! We can only hope this continues and keep faith in the cycle…it might be worth mentioning that there are several AZ zip codes that have done quite well – which is why it’s important to have an agent help with the purchase.

By: Jay - The Phoenix Real Estate Guy

Jay - The Phoenix Real Estate Guy — Sat, 16 Aug 2008 05:07:55 +0000

Pete –

No question it’s rough out there. Many agents and brokerages are closing up shop. We on the other hand opened our brokerage in February. Some very experienced brokers thought I was nuts for opening a brokerage in this market.

It’s not easy. But we’re making it work.

By: Scottsdale News

Scottsdale News — Sat, 16 Aug 2008 03:06:59 +0000

Jay -
I will share with you blog readers what someone who is tied to the real estate market in the Phoenix metro area mentioned to me. This person told me a few weeks ago: “people don’t know how bad the real estate market is”.

Before your readers go out and pour money into short sale property and foreclosures take note on some info. Did you also know that foreclosure homes that people have bought the past few years are now being foreclosed on or sold at short sales.

One top local broker who once answered the phone on the second ring – now the phone goes to a answering machine.

On a positive note: One Scottsdale Realtor has told me he has just had his best year ever. This guy is a specialist in his area. His hard word has payed off in this tough housing market.

Have a good one,

Pete Kosednar