Posted by Rachael PA on May 15, 2006 at 12:53:47:
Sorry the previous post about craigslist was not meant for this posting…My bad.
Phoenix sales trends graph and explanation - Posted by SJO
Posted by SJO on May 15, 2006 at 12:26:09:
Anyone interested in looking at the actual MLS sales trends for Phoenix, and an explanation, can go to the following link.
http://www.homesalenews.com/prices/2006-04-GlanceVideo/2006-04-GlanceVideo.html
I’d be interested in anyone’s comments, especially regarding their ideas on the risks of investing in this environment, and what types of investing they would focus on.
Most agree, the next two months will be key for the Phoenix market.
Re: Phoenix sales trends graph and explanation - Posted by Gene
Posted by Gene on May 17, 2006 at 22:49:56:
“Most agree, the next two months will be key for the Phoenix market”
During the fall, I kept hearing that SPRING is the most important test of the centray AZ markets. Everyone said that in spring, the market will heat up. Well it hasn’t. Inventory is thru the roof and sales keep slipping. Summer is not a good time of the year for Phoenix.
Re: Phoenix sales trends graph and explanation - Posted by John Corey
Posted by John Corey on May 15, 2006 at 14:50:01:
The dumb money will get burned and the investors who focus on buying below true market value when they buy will continue to look for deals.
Phoenix has had slow, down or imbalanced markets before. When novice investors can make a killing from paying retail and waiting a year you know there is something wrong. The reason this is obvious is the average salaries are not rising quick enough to keep up. Hence the people who are moving to the area will be priced out of the market. The local service provider jobs will not be able to pay enough. People will look elsewhere. There is no great reason to go to Phoenix compared to a number of other locations in AZ. Hence people will move out or pick a different city. It is not like people move to Phoenix for the view, etc.
As the website references in the original post indicates there is a buyer’s market taking place. It will be that way until the froth is gone and the average folks can afford to buy locally. As AZ and Phoenix are what a lot of people want there is a price at which they will continue to move there.
John Corey
Re: Phoenix sales trends graph and explanation - Posted by Rachael PA
Posted by Rachael PA on May 15, 2006 at 12:51:46:
Don’t know a ton about it, but have you looked into listing on craigslist.com?
Re: Phoenix sales trends graph and explanation - Posted by SJO
Posted by SJO on May 18, 2006 at 14:41:44:
Summer sales are historically Ok in Phoenix. Take a look at the graph. However, this summer could certainly be a different one. We’ll have to see.