The Scottsdale Real Estate Market

Without a doubt if you were to ask 10 different people their perspective on the real estate market in Scottsdale, Arizona you would certainly get that...10 different perspectives. Truth be known, our market appears to have "dodged the big bullet" and we are experiencing 12-18% downturn versus the 28-36% turn some parts of the valley have been "shot at" of late. The good news is that there is positive activity and it appears the pricepoints most active are between $500,000.0 and $800,000.00. Clearly the second homes have been selling at a rapid pace thanks to our Canadian neighbours (not a typo, I am originally from Canada) who are capitalizing on the strength of the "looney" (Canadian dollar) and who recognize the investment opportunities in North Scottsdale and I am certain in most golf and recreational areas of Phoenix Metropolitan. With temperatures across Canada, the northeast states, the midwest and the notheast being on the extreme side of frigid, it is just a matter of time before we see an even greater increase in real estate sales.

My personal perspective (the consumate optimist) is that we will see recovery sooner rather than later with the help of our winter visitors as well as from the tremendous "push" the Fed is attempting to stimulate the current economic climate. There has surely never been a more opportune time to get into the market and buy something under-valued with literally hundreds of thousands of dollars in "built-in, long-term" equity already in the purchase. Enough with the "doom and gloom" and onward with some positive, intelligent decision making on the part of the investors and motivated buyers out there! A famous author by the name of Napoleon Hill wrote a book entitled "Think and Grow Rich" in the 1960's. Perhaps he was envisioning a time in history as we are experiencing. Perhaps not however there is a time for action and a time to sit back and wait. Those who react to opportunity are the fortunate ones who make fortunes while those who cannot make a decision sit idly by waiting for something to happen and only realize way too late that they missed the opportunity and are heard years later stating, "if only I had (fill in the blank) I would be rich today.

The time is now to have that heart to heart with all the prospective buyers out there sitting on the fence waiting until someone tells them it is okay before all the deals are gone!

What say we all make some sales happen NOW!! All the best in 2009.

John