GayRealEstate USA

Around the Nation - Residential Real Estate Update - Arizona

By Jeff Adolph

Residential Real Estate

Arizona is the 6th largest state in America, and the 14th largest in population. There are some 6.5 million residents that reside in this state, many of which live in the metropolitan areas. There are some 12,000 same-sex couples that reside in Arizona with most choosing to reside in Phoenix, and Tuscan.

North Phoenix

There are more buyers than sellers in this region and homes are typically sitting on the market for 30 to 60 days before selling. There is a decreasing market trend in this region with a good supply of homes. Prices have decreased by 10-15% and homes that are in the $150,000 to $200,000 are currently the best sellers. The worst selling homes in this region are those homes that are priced over $900,000.

Sellers are getting 80-85% of their asking pricewith multiple offers being seen. 1st time home buyers represent the area of greatest activity, with buyer and seller activity increasing. Investments are good near 101, 51 and 117 freeways.

Tuscon

There are more buyers than sellers in this region and homes are typically sitting on the market for 120 days before selling. Market trends in this region are decreasing and there is a good supply of homes in some price range. Prices have risen 0-5% to a median value of $275,000 and buyers are getting 90-95% of their asking price.

Multiple offers are being seen on single-family homes and relocation is the most prominent reason for buying and selling.

Sources:  HouseHunt.com (2008) Residential Real Estate Market Trends; available online at http://www.househunt.com

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By Jeff Adolph

Residential Real Estate

Arizona is the 6th largest state in America, and the 14th largest in population. There are some 6.5 million residents that reside in this state, many of which live in the metropolitan areas. There are some 12,000 same-sex couples that reside in Arizona with most choosing to reside in Phoenix, and Tuscan.

North Phoenix

There are more buyers than sellers in this region and homes are typically sitting on the market for 30 to 60 days before selling. There is a decreasing market trend in this region with a good supply of homes. Prices have decreased by 10-15% and homes that are in the $150,000 to $200,000 are currently the best sellers. The worst selling homes in this region are those homes that are priced over $900,000.

Sellers are getting 80-85% of their asking pricewith multiple offers being seen. 1st time home buyers represent the area of greatest activity, with buyer and seller activity increasing. Investments are good near 101, 51 and 117 freeways.

Tuscon

There are more buyers than sellers in this region and homes are typically sitting on the market for 120 days before selling. Market trends in this region are decreasing and there is a good supply of homes in some price range. Prices have risen 0-5% to a median value of $275,000 and buyers are getting 90-95% of their asking price.

Multiple offers are being seen on single-family homes and relocation is the most prominent reason for buying and selling.

Sources:  HouseHunt.com (2008) Residential Real Estate Market Trends; available online at http://www.househunt.com

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By Jeff Adolph

Residential Real Estate

Arizona is the 6th largest state in America, and the 14th largest in population. There are some 6.5 million residents that reside in this state, many of which live in the metropolitan areas. There are some 12,000 same-sex couples that reside in Arizona with most choosing to reside in Phoenix, and Tuscan.

North Phoenix

There are more buyers than sellers in this region and homes are typically sitting on the market for 30 to 60 days before selling. There is a decreasing market trend in this region with a good supply of homes. Prices have decreased by 10-15% and homes that are in the $150,000 to $200,000 are currently the best sellers. The worst selling homes in this region are those homes that are priced over $900,000.

Sellers are getting 80-85% of their asking pricewith multiple offers being seen. 1st time home buyers represent the area of greatest activity, with buyer and seller activity increasing. Investments are good near 101, 51 and 117 freeways.

Tuscon

There are more buyers than sellers in this region and homes are typically sitting on the market for 120 days before selling. Market trends in this region are decreasing and there is a good supply of homes in some price range. Prices have risen 0-5% to a median value of $275,000 and buyers are getting 90-95% of their asking price.

Multiple offers are being seen on single-family homes and relocation is the most prominent reason for buying and selling.

Sources:  HouseHunt.com (2008) Residential Real Estate Market Trends; available online at http://www.househunt.com

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By Jeff Adolph

Residential Real Estate

Arizona is the 6th largest state in America, and the 14th largest in population. There are some 6.5 million residents that reside in this state, many of which live in the metropolitan areas. There are some 12,000 same-sex couples that reside in Arizona with most choosing to reside in Phoenix, and Tuscan.

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Gay Retirement -- Marigold Creek -- Arizona

By Jeff Adolph

Residential Real Estate

Resort-styled retirement village, Marigold Creek, located near Suprise in Arizona, is a safe haven for the LGBT community, and offers luxury living.

Situated approximately 30 minutes from Phoenix, Arizona, Marigold Creek is surrounded by mountains, a lake and the Sonoran desert.

Housing options at Marigold Creek range from one, two or three bedroom condominiums (pictured above), through to two or three bedroom single family, or patio homes (pictured left). Prices range from $249,000 - $850,000, and all homes are designed to a desert contemporary style which offers state-of-the-art living and luxury features.

Amenities at Marigold Creek include a daytime spa and saloon poolside grill and bar, concierge, and a theater and cabaret, as well as a fitness and spiritual center, just to name a few.

For more information on Marigold Creek please visit www.marigoldcreek.com.

Article Source: Marigold Creek (2009) ; available online at www.marigoldcreek.com

Image Source: www.marigoldcreek.com

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Arizona Housing Market Positive

By Jeff Adolph

Residential Housing Market

Metropolitan Phoenix is showing positive real estate trends that are promising, these are as follows:

1) Homes under $350,000 are selling quickly with there being an estimated 7 month supply of homes in this price range.

2) Home sales are increasing with the Arizona Multiple Listing Services recording more sales than compared to the same months of sale in 2007.

3) Pre-foreclosures had fallen when compared to last months figures and market analysts believe that this may be a sign that the foreclosure market may be peaking.

4) Typically, mortgage lenders are now working with mortgagees to ward off foreclosure and find ways to meet repayments. The most common solution is a "foreclosure agreement", where both parties agree on a deal to prevent foreclosure.

The general consensus by market watchers is once a market's rate of foreclosure slows significantly it is a sign of market recovery.

Source: Arizona Central (2008) Housing Market Reflects Positives Business;available online at http://www.azcentral.com

Image Source: Microsoft Clipart

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By Jeff Adolph

Residential Housing Market

Metropolitan Phoenix is showing positive real estate trends that are promising, these are as follows:

1) Homes under $350,000 are selling quickly with there being an estimated 7 month supply of homes in this price range.

2) Home sales are increasing with the Arizona Multiple Listing Services recording more sales than compared to the same months of sale in 2007.

3) Pre-foreclosures had fallen when compared to last months figures and market analysts believe that this may be a sign that the foreclosure market may be peaking.

4) Typically, mortgage lenders are now working with mortgagees to ward off foreclosure and find ways to meet repayments. The most common solution is a "foreclosure agreement", where both parties agree on a deal to prevent foreclosure.

The general consensus by market watchers is once a market's rate of foreclosure slows significantly it is a sign of market recovery.

Source: Arizona Central (2008) Housing Market Reflects Positives Business;available online at http://www.azcentral.com

Image Source: Microsoft Clipart

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By Jeff Adolph

Residential Housing Market

Metropolitan Phoenix is showing positive real estate trends that are promising, these are as follows:

1) Homes under $350,000 are selling quickly with there being an estimated 7 month supply of homes in this price range.

2) Home sales are increasing with the Arizona Multiple Listing Services recording more sales than compared to the same months of sale in 2007.

3) Pre-foreclosures had fallen when compared to last months figures and market analysts believe that this may be a sign that the foreclosure market may be peaking.

4) Typically, mortgage lenders are now working with mortgagees to ward off foreclosure and find ways to meet repayments. The most common solution is a "foreclosure agreement", where both parties agree on a deal to prevent foreclosure.

The general consensus by market watchers is once a market's rate of foreclosure slows significantly it is a sign of market recovery.

Source: Arizona Central (2008) Housing Market Reflects Positives Business;available online at http://www.azcentral.com

Image Source: Microsoft Clipart

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By Jeff Adolph

Residential Housing Market

Metropolitan Phoenix is showing positive real estate trends that are promising, these are as follows:

1) Homes under $350,000 are selling quickly with there being an estimated 7 month supply of homes in this price range.

2) Home sales are increasing with the Arizona Multiple Listing Services recording more sales than compared to the same months of sale in 2007.

3) Pre-foreclosures had fallen when compared to last months figures and market analysts believe that this may be a sign that the foreclosure market may be peaking.

4) Typically, mortgage lenders are now working with mortgagees to ward off foreclosure and find ways to meet repayments. The most common solution is a "foreclosure agreement", where both parties agree on a deal to prevent foreclosure.

The general consensus by market watchers is once a market's rate of foreclosure slows significantly it is a sign of market recovery.

Source: Arizona Central (2008) Housing Market Reflects Positives Business;available online at http://www.azcentral.com

Image Source: Microsoft Clipart

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© 2006+ Jeff Adolph GayRealEstate USA

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By Jeff Adolph

Residential Housing Market

Metropolitan Phoenix is showing positive real estate trends that are promising, these are as follows:

1) Homes under $350,000 are selling quickly with there being an estimated 7 month supply of homes in this price range.

2) Home sales are increasing with the Arizona Multiple Listing Services recording more sales than compared to the same months of sale in 2007.

3) Pre-foreclosures had fallen when compared to last months figures and market analysts believe that this may be a sign that the foreclosure market may be peaking.

4) Typically, mortgage lenders are now working with mortgagees to ward off foreclosure and find ways to meet repayments. The most common solution is a "foreclosure agreement", where both parties agree on a deal to prevent foreclosure.

The general consensus by market watchers is once a market's rate of foreclosure slows significantly it is a sign of market recovery.

Source: Arizona Central (2008) Housing Market Reflects Positives Business;available online at http://www.azcentral.com

Image Source: Microsoft Clipart

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Arizona Asante Development Downsized

By Jeff Adolph

New Developments

The $1 billion, 3,600-acre Asante project in Suprize, Arizona that began being planned and constructed in 2004 by Lennar Corp., has been downsized due to market uncertainty.

The original plan was to include over 13,000 homes, schools, a park of some 50-acres, and a World War II memorial. However, the housing development that opened last week is approximately 60-acres in size and has been named the Vistas, with the areas elementary school expected to be completed by August 2008 (pictured below).

Lennar Regional Vice President, Alan Jones said, "It's more appropriate to have a (single) community in there at the this time and gauge how the market reacts to it."

The new development's homes are priced at $230,000 for an 1,800 square foot unit to $320,000 for a 3,500 square foot home.

It is expected that the development will continue as the market continues to improve.

For more information on homes, please visit www.asanteliving.com

Source: Zlomek, Erin (2008) Mega Housing Project Sealed Back; available online at http://www.azcentral.com

Image Source: http://www.azcentral.com

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By Jeff Adolph

New Developments

The $1 billion, 3,600-acre Asante project in Suprize, Arizona that began being planned and constructed in 2004 by Lennar Corp., has been downsized due to market uncertainty.

The original plan was to include over 13,000 homes, schools, a park of some 50-acres, and a World War II memorial. However, the housing development that opened last week is approximately 60-acres in size and has been named the Vistas, with the areas elementary school expected to be completed by August 2008 (pictured below).

Lennar Regional Vice President, Alan Jones said, "It's more appropriate to have a (single) community in there at the this time and gauge how the market reacts to it."

The new development's homes are priced at $230,000 for an 1,800 square foot unit to $320,000 for a 3,500 square foot home.

It is expected that the development will continue as the market continues to improve.

For more information on homes, please visit www.asanteliving.com

Source: Zlomek, Erin (2008) Mega Housing Project Sealed Back; available online at http://www.azcentral.com

Image Source: http://www.azcentral.com

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By Jeff Adolph

New Developments

The $1 billion, 3,600-acre Asante project in Suprize, Arizona that began being planned and constructed in 2004 by Lennar Corp., has been downsized due to market uncertainty.

The original plan was to include over 13,000 homes, schools, a park of some 50-acres, and a World War II memorial. However, the housing development that opened last week is approximately 60-acres in size and has been named the Vistas, with the areas elementary school expected to be completed by August 2008 (pictured below).

Lennar Regional Vice President, Alan Jones said, "It's more appropriate to have a (single) community in there at the this time and gauge how the market reacts to it."

The new development's homes are priced at $230,000 for an 1,800 square foot unit to $320,000 for a 3,500 square foot home.

It is expected that the development will continue as the market continues to improve.

For more information on homes, please visit www.asanteliving.com

Source: Zlomek, Erin (2008) Mega Housing Project Sealed Back; available online at http://www.azcentral.com

Image Source: http://www.azcentral.com

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New LGBT Retirement Complex

By Jeff Adolph

LGBT Retirement Update

In search of a safe, fun LGBT place to retire in Arizonia was not an easy task, especially if you were looking for like-minded people in a gay centric environment.

A delemmia that Out Properties LLC is setting about rectifying in the near future, by building a resort community in Marigold Creek, Sunrise.

As Debi Purvis, principal of Out Properties said, 'For some people this might be the very first time in their entire life they've been able to live somewhere were they can be themselves'.

Situated between San Ysidro Road east of 163rd Avenue and northeast of Grand Avenue the development will be located on 32 acres and will include 190 condos and homes that will range from $250,000 up to $850,000 in price.

The complex is ecpected to open in the Fall of 2009, and while it will be LGBT centric any retirees are welcome.

As Lyn Truitt, Mayor of SUnrise said, 'We're not a community that puts up barriers. Rather we take them down.'

The Marigold Creek community will have a fitness center, spa, travel club, walking trails, and a bar and grill. Other features will include a spititual center, caberet and theater.

Arizonia LGBT Facts: Arizona has a total population of 5,130,632 making it the 20th largest state in America. .48% of Arizona's population is gay, therefore there are approximately 12,332 gays residing in the state making it the 15th gayest state in the nation. Gays reside throughout the state but the gayest zip codes by population are 85015, 85008, 85705, 85013 and 85716. -- gaydemographics.org -- wikipedia.com.   

Main Story Source: Lombardo, T (2008) Sunrise's Development Aimed at Gay Retirees; available online at http://www.azcentral.com

Picture Source: Azcentral.com

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Around the Nation: Residential Real Estate Update - Arizona

By Jeff Adolph

State-by-state Update

Located in the southwestern region of America, Arizona is renowned for its desert climate and the Grand Canyon. This states capital is Phoenix and its largest towns are Tucson, Mesa and Glendale. Arizona has a sale and use tax of 6.3%, and other consumption taxes that can be as high as 10.7%. The state recently lowered its income and property taxes last financial year in order to give residents a fairer deal. While property taxes are set at 10%, the highest income tax bracket hovers just above 5%.

North Phoenix

This regions median home price hovers around the $600,000 and is increasing in value. However, compared to last year's prices the regions median price is down by 15-20%.

Sellers are getting 80-85% of their asking price and houses are typically sitting on the market for 120 days before selling. Single-family homes represent hot spots.

Northwest Tucson

There are currently more buyers than sellers in this region of Arizona and the market trend is decreasing.

Buyers are getting 90-95% of their asking price with the average home selling for $275,000. While home prices in this region are down by 5% multiple offers are being seen.

McDowell Mountain Ranch

Single-family homes in this area are attracting the greatest amount of interest and there is an equal ratio of buyers and sellers. Typically homes are sitting on the market for 60-90 days before selling and prices are up by 15-20% in an increasing market trend.

There is a good supply of all homes within all price ranges, and median home values are hovering around the $750,000 mark. The communities of Trovas, 100 Hills and Cimarron hills are the current housing hotspots and buyers are consistently getting between 95-100% of their asking price. 

LGBT Regional Facts: Arizona has a total population of 5,130,632 making it the 20th largest state in America. .48% of Arizona's population is gay, therefore there are approximately 12,332 gays residing in the state making it the 15th gayest state in the nation. Gays reside throughout the state but the gayest zip codes by population are 85015, 85008, 85705, 85013 and 85716. -- gaydemographics.org

Main Story Source: House Hunt (2008) Around the State; available online at http://www.househunt.com

Picture Source: wikipedia.org

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Have Your Say On the LGBT Political Front - August 19th 2007

By Jeff Adolph

LGBT Politics

In a national first, the Democrats are challenging the Republicans by staging a debate that is dedicated to the LGBT community and will answer many of the issues facing Lesbians, Gays, Bi-sexual's and the Transgendered across the nation.

The leading candidates for the Democratic  nomination for presidency will actively involve themselves in this debate on August the 9th, which is being telecast by LOGO, a gay cable network. Alternatively, you may view proceedings on http://www.logoonline.com/ if you are unable to access the network.

Participants in the debate will include Hilary Clinton, Barack Obama and John Edwards (pictured above), with the moderators being singer Melissa Etheridge and Joe Solmonese, Human Rights Campaign's president.

If you would like to actively participate by lodging questions for the candidates to answer you may do so by logging on to LOGOonline.com as well as on HRC.org.

Source: Demorcrats to Hold Gay Debate (2007) available online at www.wweek.com

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Easier Monthly Payments and Increased Life-time Commitment

By Jeff Adolph

Home Loans and Finance

The 30 year mortgage has been expanded by some lenders to 40 and even 50 years in the closing months of 2006, and while this can decrease monthly payments and may seem like a good idea at the time, these type of loans make your home loan a genuine life-time commitment.

Just think, if you buy your first home when you are 20 years-old, you would have paid it off in your 60's or 70's...

The concept evidentially has been introduced to allow home owners more monetary freedom and to accumulate 'some principal. The longer the term, the lower the monthly re-payment, assuming everything else remains the same.'

As Tim Disbrow, regional manager of a home mortgage facility in Phoenix said, 'with 40 year loans, you don't have that payment-shock danger.'

But, just how much do you really save?

On a $200,000 loan taken out over 40 years with an interest rate of 6.25% around $78.28 a month, that's a whopping $19.57 a week. Just imagine what you could do with that!

A $200,000 - 30 year mortgage @ 6.25% = repayments of $1,231.43 a month as opposed to $1,231.43 a month on a 40 year term.

And, what's even scarier is the additional interest you will end up repaying to the lender over this extra 10 year duration.

Using the same figures as before, the $200,000 - 30 year mortgage would see you pay back $443,315 in interest and over 40 years you would add a staggering $110,196 to your lenders kitty, paying back a total of $553,511 in interest.

However, the reality of home loans is many people often never see their mortgage to the end of its term, because they relocate, get tires with their existing home, or change their lifestyles.

As Erik Lutz, President of another lender in Phoenix added, relatively few consumers hold their mortgages longer than 10 years.'

In fact, statically speaking the average home loan in America is held only for a little more than 2 years.

So, when next considering your home loan term, think of it in terms of years and interest repaid before signing on the dotted line, as it is not just a good interest rate that sees you save...

Source: Wiles, R (2006) 40-to-50 year Mortgages can be Risky: available online at http://www.azcentral.com/class/marketplace/homevaluesfall06/articles/1012VHmortgages1022.html

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By Jeff Adolph

Home Loans and Finance

The 30 year mortgage has been expanded by some lenders to 40 and even 50 years in the closing months of 2006, and while this can decrease monthly payments and may seem like a good idea at the time, these type of loans make your home loan a genuine life-time commitment.

Just think, if you buy your first home when you are 20 years-old, you would have paid it off in your 60's or 70's...

The concept evidentially has been introduced to allow home owners more monetary freedom and to accumulate 'some principal. The longer the term, the lower the monthly re-payment, assuming everything else remains the same.'

As Tim Disbrow, regional manager of a home mortgage facility in Phoenix said, 'with 40 year loans, you don't have that payment-shock danger.'

But, just how much do you really save?

On a $200,000 loan taken out over 40 years with an interest rate of 6.25% around $78.28 a month, that's a whopping $19.57 a week. Just imagine what you could do with that!

A $200,000 - 30 year mortgage @ 6.25% = repayments of $1,231.43 a month as opposed to $1,231.43 a month on a 40 year term.

And, what's even scarier is the additional interest you will end up repaying to the lender over this extra 10 year duration.

Using the same figures as before, the $200,000 - 30 year mortgage would see you pay back $443,315 in interest and over 40 years you would add a staggering $110,196 to your lenders kitty, paying back a total of $553,511 in interest.

However, the reality of home loans is many people often never see their mortgage to the end of its term, because they relocate, get tires with their existing home, or change their lifestyles.

As Erik Lutz, President of another lender in Phoenix added, relatively few consumers hold their mortgages longer than 10 years.'

In fact, statically speaking the average home loan in America is held only for a little more than 2 years.

So, when next considering your home loan term, think of it in terms of years and interest repaid before signing on the dotted line, as it is not just a good interest rate that sees you save...

Source: Wiles, R (2006) 40-to-50 year Mortgages can be Risky: available online at http://www.azcentral.com/class/marketplace/homevaluesfall06/articles/1012VHmortgages1022.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Home Loans and Finance

The 30 year mortgage has been expanded by some lenders to 40 and even 50 years in the closing months of 2006, and while this can decrease monthly payments and may seem like a good idea at the time, these type of loans make your home loan a genuine life-time commitment.

Just think, if you buy your first home when you are 20 years-old, you would have paid it off in your 60's or 70's...

The concept evidentially has been introduced to allow home owners more monetary freedom and to accumulate 'some principal. The longer the term, the lower the monthly re-payment, assuming everything else remains the same.'

As Tim Disbrow, regional manager of a home mortgage facility in Phoenix said, 'with 40 year loans, you don't have that payment-shock danger.'

But, just how much do you really save?

On a $200,000 loan taken out over 40 years with an interest rate of 6.25% around $78.28 a month, that's a whopping $19.57 a week. Just imagine what you could do with that!

A $200,000 - 30 year mortgage @ 6.25% = repayments of $1,231.43 a month as opposed to $1,231.43 a month on a 40 year term.

And, what's even scarier is the additional interest you will end up repaying to the lender over this extra 10 year duration.

Using the same figures as before, the $200,000 - 30 year mortgage would see you pay back $443,315 in interest and over 40 years you would add a staggering $110,196 to your lenders kitty, paying back a total of $553,511 in interest.

However, the reality of home loans is many people often never see their mortgage to the end of its term, because they relocate, get tires with their existing home, or change their lifestyles.

As Erik Lutz, President of another lender in Phoenix added, relatively few consumers hold their mortgages longer than 10 years.'

In fact, statically speaking the average home loan in America is held only for a little more than 2 years.

So, when next considering your home loan term, think of it in terms of years and interest repaid before signing on the dotted line, as it is not just a good interest rate that sees you save...

Source: Wiles, R (2006) 40-to-50 year Mortgages can be Risky: available online at http://www.azcentral.com/class/marketplace/homevaluesfall06/articles/1012VHmortgages1022.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Home Loans and Finance

The 30 year mortgage has been expanded by some lenders to 40 and even 50 years in the closing months of 2006, and while this can decrease monthly payments and may seem like a good idea at the time, these type of loans make your home loan a genuine life-time commitment.

Just think, if you buy your first home when you are 20 years-old, you would have paid it off in your 60's or 70's...

The concept evidentially has been introduced to allow home owners more monetary freedom and to accumulate 'some principal. The longer the term, the lower the monthly re-payment, assuming everything else remains the same.'

As Tim Disbrow, regional manager of a home mortgage facility in Phoenix said, 'with 40 year loans, you don't have that payment-shock danger.'

But, just how much do you really save?

On a $200,000 loan taken out over 40 years with an interest rate of 6.25% around $78.28 a month, that's a whopping $19.57 a week. Just imagine what you could do with that!

A $200,000 - 30 year mortgage @ 6.25% = repayments of $1,231.43 a month as opposed to $1,231.43 a month on a 40 year term.

And, what's even scarier is the additional interest you will end up repaying to the lender over this extra 10 year duration.

Using the same figures as before, the $200,000 - 30 year mortgage would see you pay back $443,315 in interest and over 40 years you would add a staggering $110,196 to your lenders kitty, paying back a total of $553,511 in interest.

However, the reality of home loans is many people often never see their mortgage to the end of its term, because they relocate, get tires with their existing home, or change their lifestyles.

As Erik Lutz, President of another lender in Phoenix added, relatively few consumers hold their mortgages longer than 10 years.'

In fact, statically speaking the average home loan in America is held only for a little more than 2 years.

So, when next considering your home loan term, think of it in terms of years and interest repaid before signing on the dotted line, as it is not just a good interest rate that sees you save...

Source: Wiles, R (2006) 40-to-50 year Mortgages can be Risky: available online at http://www.azcentral.com/class/marketplace/homevaluesfall06/articles/1012VHmortgages1022.html

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© 2007 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Home Loans and Finance

The 30 year mortgage has been expanded by some lenders to 40 and even 50 years in the closing months of 2006, and while this can decrease monthly payments and may seem like a good idea at the time, these type of loans make your home loan a genuine life-time commitment.

Just think, if you buy your first home when you are 20 years-old, you would have paid it off in your 60's or 70's...

The concept evidentially has been introduced to allow home owners more monetary freedom and to accumulate 'some principal. The longer the term, the lower the monthly re-payment, assuming everything else remains the same.'

As Tim Disbrow, regional manager of a home mortgage facility in Phoenix said, 'with 40 year loans, you don't have that payment-shock danger.'

But, just how much do you really save?

On a $200,000 loan taken out over 40 years with an interest rate of 6.25% around $78.28 a month, that's a whopping $19.57 a week. Just imagine what you could do with that!

A $200,000 - 30 year mortgage @ 6.25% = repayments of $1,231.43 a month as opposed to $1,231.43 a month on a 40 year term.

And, what's even scarier is the additional interest you will end up repaying to the lender over this extra 10 year duration.

Using the same figures as before, the $200,000 - 30 year mortgage would see you pay back $443,315 in interest and over 40 years you would add a staggering $110,196 to your lenders kitty, paying back a total of $553,511 in interest.

However, the reality of home loans is many people often never see their mortgage to the end of its term, because they relocate, get tires with their existing home, or change their lifestyles.

As Erik Lutz, President of another lender in Phoenix added, relatively few consumers hold their mortgages longer than 10 years.'

In fact, statically speaking the average home loan in America is held only for a little more than 2 years.

So, when next considering your home loan term, think of it in terms of years and interest repaid before signing on the dotted line, as it is not just a good interest rate that sees you save...

Source: Wiles, R (2006) 40-to-50 year Mortgages can be Risky: available online at http://www.azcentral.com/class/marketplace/homevaluesfall06/articles/1012VHmortgages1022.html

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© 2007 Jeff Adolph GayRealEstate USA

Housing Market a Touchy Subject in the Valley

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

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© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

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© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

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-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

By Jeff Adolph

Housing Market

There's no appreciation bragging or home owner's in Arizona considering how best to spend there home equity, in fact, many owners are nervously watching as neighborhood for sale signs become an ornament in the yards of many for extremely long durations as the houses become harder to sell.

Evidentially, Valley home prices peaked in May/June of this year and housing prices have dropped in all area's of the Phoenix metropolitan region; some of these as high as 10%.

However, it is believed that houses in South Scottsdale, Tempe and Central Phoenix are retaining their value.

As P.J Dean, a real estate agent in the area added, 'the housing market hasn't cooled as much in central Valley neighborhoods. But if you're trying to sell a home in Suprise now, good luck, because thats where speculators snatched up homes, and builders are offering the best deals.'

Margie O'Capo De Castillo, another real estate agent in the region suggests, 'most people who bought in the fringes last year are likely going to have to hold on for at least three years or sell at a loss.'

A prospect that is very disappointing to many, especially if they need a relatively high return to reduce the change-over costs incurred when relocating to another area or state.

There is an estimated 45,000 homes on the market in metro Phoenix at present, a stark contrast in the abundant supply in comparison with just under 20,000 this time last year, and this alone is the root of all evil in relation to the cause for the fall in home value. A flooded market is a definite buyer's paradise.

John Folt, president of a realty firm in Phoenix believes, 'when the supply and demand scenario is corrected, home prices will start climbing again.'

It was felt that out-of-state investor who purchased multiple homes in the region may have resulted in an unstable market as the excessive housing demand caused prices to sky rocket and encouraged others to sell in order to profit.

The median established-home price is currently estimated to be around the $257,000 mark, a $10,000 decrease from the high reached in June of this year.

The only consolation being prices are not expected to drop any lower and even though the road to recovery looks long and arduous and it is suggested that if your thinking about selling in this region to hold off for as long as possible, there just still may be light at the end of the real estate tunnel...

Source: Kaye, N (2006) Tucker's Point Club: available online at http://www.azcentral.com/arizonarepublic/news/articles/1022homeprices1022.html

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

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© 2006 Jeff Adolph GayRealEstate USA

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*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA

---------------------------------------------------------

*Real Questions Real Answers*

How do you feel your current market effects you?

Click on Comments below and share your view…

-----------------------------------------------------------------

© 2006 Jeff Adolph GayRealEstate USA