Look at the bright side

Although the mortgage industry has been in crisis, there is an upside to the market decline!

Everyone standing on the sidelines through the “big boom” can afford a home in this new, more realistic real estate market!

There was a time when you couldn’t find a house to buy for less than 100k in Phoenix, or an outskirts area like Queen Creek. Now, you can find a move in ready house for around $50,000. ! We have seen a high percentage of foreclosure properties go to first time buyers or investors who have seized this opportunity to capitalize on the mistakes of all those folks who overextended themselves, and are now on the hunt for a rental property to live in while they wait it out to buy again in three to five years.

I would not be surprised if the guide lines for lending change over the next year to allow foreclosure statistic buyers the chance to qualify for a loan, they can actually afford to pay on. In the mean time, we all need a place to live, and if you didn’t lose your nest egg in the 05-06 market, this would be the time to buy real estate.

If you would like to view properties available in the greate Phoenix area, please visit our website at: www.centralphoenixinvestorhomes.com