There's has been a lot of news nationally and locally about the real estate market and it's been looking good. That is until yesterday when they noticed that foreclosures went up in April 09 over April 08. They keep forgetting to mention that Fannie Mae and Freddie Mac had a moratorium on Foreclosures from last fall through March 31st of 2009. It only makes since that once the moratorium was lifted that foreclosures would go up again.
I still think there are some positive things in the Phoenix market. I'm selling single family homes for $50k and less and I just closed on a 1 bedroom condo for $45k near the Biltmore. I have a half a dozen buyers looking and many are cash buyers or have 20% to put down. It really is a great time to buy.
Check out these stories from AZCentral.com
http://www.azcentral.com/business/articles/2009/05/13/20090513biz-resales0513.html
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