Wouldn't you know that Phoenix makes the list of the top 10 places to find a bargain. I would certainly have to agree. Not only because I am a REALTOR® in Phoenix, but because price have come down low enough to be considered a bargain by smart consumers and investors.

I can already hear my critics telling me not to suggest that it is a good time to buy, or that it is irresponsible to suggest such thing. However, I know in my gut that now is a great time to buy. The prices we have in Phoenix are great for buyers who could not afford a home a few years ago because homes appreciated beyond their reach. I think the savvy consumer/investor has already seen the opportunity in our market and have begun to snatch up properties.

Lender owned properties that are priced well below consumer owned properties are receiving multiple offers and are selling almost as soon as they are entered into the MLS.

If you plan to buy, take advantage of home prices being so low. This year is going to be a good year for buyers. On the other hand home sellers are going to be upset that their home is not worth what it was in 2005 but, if they have owned their home for more than 5 years there is a good possibility that they can still make a profit. That is if they have not pulled out the equity in their homes.

The economy in Phoenix is doing OK, and it is still growing. People who need to buy a home will find that they can find homes for under $130,000. And if they are willing to do some renovations to a home they can find fixer uppers under $100,000. The deals are out there for the smart buyer.

REALTOR® Magazine Article

http://www.realtor.org/RMODaily.nsf/pages/News2008021101?OpenDocument