There is (only) one bright sides to dropping Phoenix real estate prices. Value, affordability and great real estate deals. Wait, that's 3. Oh well.
Yesterday, the Case - Shiller home price index of 20 major U.S. cities released a report that showed Phoenix real estate home prices dropped a record in July from the previous July 2007. 
Las Vegas and Phoenix , - remained the weakest cities, falling nearly 30% in the past year.
As a result of these major price declines for Phoenix, Peoria, Glendale, Fountain Hills and even Scottsdale real estate, home buyers are stepping off the sidelines and becoming interested in Phoenix real estate.
Phoenix Real estate buyers are looking for bargain basement prices and if Scottsdale or Paradise Valley homes become available at these major price discounts buyers are motivated.
Yesterday, I called a North Scottsdale listing agent about a brand new homes for sale in Scottsdale. At first glance, seemed to be priced at nearly 50% below the 2005 Phoenix real estate market prices.
The Scottsdale home was a foreclosure home that was now bank owned (REO), not a short sale and being marketed by the Scottsdale Real estate agent as a lender owned home.
The home had been on the Phoenix real estate multiple listing service (AR MLS) for only 1 day. However, the Scottsdale real estate agent informed me that they had already received an offer. Additionally, the Scottsdale real estate agent told me that he had received calls from other Phoenix real estate buyers and had two showings earlier in the day.
I called my home buyer and we drove to look at this luxury North Scottsdale home right away. As we arrived, there was another Scottsdale real estate agent driving away with a new home buyer. We looked inside the home and noticed that there was nearly 10 Phoenix real estate agent business cards on the counter.
Clearly, this Scottsdale real estate was a great opportunity as a real estate investment or a new home buyers.
By the way, as my home buyer were driving away, a Phoenix real estate agent was speeding up the driveway to show a home buyer this Scottsdale real estate investment opportunity.
I know these are challenging times for Phoenix real estate owners, Scottsdale real estate investors, and vacation homes in Paradise Valley and Fountain Hills, AZ.
However, a small silver lining to the fall in home prices is real estate buying by those who can get a loan. In fact, the Case Shiller housing index reported that while Phoenix real estate is off 30%, the pace of the decline has slowed, particularly over the last three months.
As the above anecdote shows, when short sales, bank owned homes, lender owned real estate (REO's) are listed homes for sale in Phoenix, buyers are eager to not only look, but to buy.
In my opinion, the frenzy of Scottsdale real estate buying when prices are down more than 30% shows me that we are at , or very near, a real estate market price bottom.
Call me for a home tour of short sales in Phoenix, or bank owned homes in Paradise Valley, Scottsdale or Fountain Hills.
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Copyright © James Wexler *Scottsdale Real Estate Buyer Frenzy *
To learn more about life in Scottsdale and living in luxury communities in Scottsdale , please contact, James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs
I am not a betting man. Or should I say, I WAS a betting man. That is why I am no longer a betting man. 
However, I have some friendly wagers with some fans from the great state of Pennsylvania which is the home of the 'other team' that shall remain nameless (Harry Potter reference) who play my Arizona Cardinals today for the chance to compete in the Superbowl.
At 1pm Arizona time (not sure why most people use eastern time) , our beloved city of Phoenix (Glendale to be exaxct) host its first ever NFC Championship game.
The city is in a fervor. This is the biggest sporting event in our history. Bigger than last years Superbowl , since we Arizonans or is it Arizonians? nevermind, as we did not play in the game.
I do have some 'friendly' wagers (less expensive , more costly) with friends from Philadelphia which require things for the losing team (Philly) wearing the opposing teams jersey to work one day (photomail picture required proof).
Anyway, I wish everyone from Baltimore , Pittsburgh, Philadelphia and Arizona and all Football fans a great Championship Sunday.
Enjoy the Day and Go Cardinals.
Final Score Predictions::: Arizona wins the game 27-24
Phoenix AZ, which is in the geographically large Maricopa County which includes many towns including Scottsdale, North Scottsdale, Paradise Valley, Fountain Hills, Mesa, Chandler, Gilbert, Tempe and several others.
There are many wonderful choices to live that are golf communities, waterfront property (yes, waterfront views
), magnificent mountain views, and sparkling city lights.
One town that is a great place to live and call home and has some fantastic real estate deals is Chandler AZ.
Chandler AZ is located in the east valley with Arizona State University, Arizona Mills Outlet Mall, the Phoenix ZOO, fantastic schools and shopping and restaurants for everyone within close proximity.
Stonefield Enclave in Chandler AZ designed and developed by Maracay Homes offers 7 floor-plan choices including rare basement homes and 3-car garages.
Windward at Ocotillo in Chandler AZ by luxury new home builder Camelot Homes is a first class lifestyle and an extensive lake and waterfront system with championship golf and the Chandler Fashion center nearby.
In Historic downtown The townhomes at San Marcos Commons overlook the picturesque down Chandler AZ community. The design has the charm of historic western towns with antique lanterns, boutique and art galleries. Festival, jazz music, wine tastings are walks are the lifestyle you can expect by living at the Villas at San Marcos commons.
Townhomes start from the mid-$200K. Visit the sales office or call me today for a showing of San Marcos Commons Townhome or any of the many Chandler AZ Condos or Townhomes real estate for sale.
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Copyright © James Wexler * Chandler AZ - Condo / Town Home Deals*
If you are interested in buying a home from a new home builder in Phoenix Arizona or Scottsdale Arizona make sure you hire an agent who has experience working with new home builders.
Call 480.221.8080 to find out more about Phoenix Arizona New home sales.
There are no shortage of wonderful golf communities to choose from when deciding to buy Scottsdale Real estate. Troon, Troon North, Desert Mountain, Grayhawk, Estancia, Desert Highlands and Ancala Golf club and DC Ranch an Silverleaf are all luxury gated Scottsdale golf communities with championship golf courses. 
DC Ranch in North Scottsdale (85255 zip code) has just celebrated its 10th Anniversary and is one of the most prestigious golf communities with the a variety of home choices from under $400K to over $4MM.
DC Ranch is separated in 4 unique villages.
If you are considering life in North Scottsdale or living in DC Ranch, hire an agent who knows North Scottsdale and has the experience to get the job done.
Call 480.221.8080 to find out more about Phoenix AZ real estate and life in Scottsdale
Phoenix AZ is known to be a great place to live and vacation primarily due to the weather. We are not called the Vally of the Sun for nothing as it rains, what seems to be, just a handful of days a year.
Phoenix AZ, Scottsdale and towns like Glendale, Peoria, Gilbert and Mesa offer outdoor activities that include hiking, biking, fishing, boating (yes, we have water), and golf, golf and more golf. 
Even though, Phoenix AZ, well Glendale AZ to be more specific hosted the Superbowl last year, Phoenix is not a destination known for its sports. And, yes, we do not have the long-standing tradition of the New York Yankees (though, I cant resist pointing out that we have more World Series Championships in the last 8 years than they do). We do not have the fan friendly or fan hostile loyalty of Boston and their Patriots, Celtics and Red Sox.
However, we offer something to all fans that virtually no other city can boast. We have major sporting events every month of every year.
Take a look at this annual calendar of sporting events in and around Phoenix AZ.
January
February
March
April
May
June
July
sh, Amare Stoudemire and the self proclaimed ‘Big Cactus', Shaquille O'Neal return to action for 6 months of NBA fast court action
December
Come visit Phoenix. There is something to do every day of every month. We are a loyal and fan friendly town. Visitors Welcome!!
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Copyright © James Wexler *12 Months of Phoenix AZ Sporting Events*
If you are considering life in Phoenix AZ or living in Scottsdale AZ hire an agent who knows the area and has the experience to get the job done.
Call 480.221.8080 to find out more about Phoenix AZ real estate and life in Scottsdale AZ
Associate Broker~ Coldwell Banker (Scottsdale AZ) - I am a real estate agent in Scottsdale AZ, Phoenix AZ, Paradise Valley AZ & author of www.Wexzilla.com a Phoenix AZ | Scottsdale AZ real estate blog
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