2011 was a tough year for real estate but I think it ended on a high note. Residential property values were mostly stable for the Phoenix area. Oh, I know you'll hear in the press that values went down and they did, somewhere around 1%, which is statistically flat. I am very optimistic 2012 will be a much better year for sales. Values aren't expected to go up by anything measurable and interest rates just dropped again. For those who lost a property to foreclosure or short sale you have 3 and 2 years respectively before you can get another loan, so if you experienced one of those in 2009 or 2010, you could get a loan in 2012. Certainly something to think about.