Do you need 3 guesses? Probably not. It's Home Prices in Phoenix, AZ.
In Maricopa County, Arizona which includes Phoenix, Scottsdale, Paradise Valley, Fountain Hills, Mesa, Peoria and Chandler home prices exploded from 2001-2005; Skyrocketing more than 100% in most places.
In fact, the Wall Street Journal reported Maricopa County as the fastest growing real estate market up more than 40% in 2005 alone.
Hence, the proverbial real estate bubble.
And we know what happened next, things slowed down considerably. And most experts would say that the resulting steep decline in home prices over the following 3 years was the Real Estate bubble bursting.
However, I am going to argue with these analysts and say that the Housing Bubble did not burst in Greater Phoenix. And that's the problem.
Lynnsy Logue describes it perfectly, "America's housing bubble has not exactly burst. It's just sprung a leak the size of your average mortgage banker.
Real estate is tied to a lot of personal emotions. Real Estate agents and other industry professionals would try to convince you that it is a business decision that must be made with what is the best financial result in mind. Although, in theory this may be what is best for financial health, we know this does not happen.
On Wall Street when stocks drop, they drop fast. In fact, often times, before recovery can occur there must be one significant event causing a popular Wall Street term "Capitulation'. Like hitting rock bottom.
At that point, consumers (hopefully) regain confidence and stability returns and in time, prices rise again.
Unfortunately, this does not happen in real estate. When someone wants to sell their home. They leave it on the market for extended periods of time. If the home does not result in offers, the seller typically small price reductions. Rarely, enough to initiate a quick sale.
This behavior is a snap shot of what has transpired in real estate over the past several years.
If the bubble burst, home prices would have dropped 30% and the pain would have been over and done with. Much like tearing off a band-aid. It hurts, but its over quickly.
Instead, like air leaking out of a balloon as it slowly drops from the sky, we are watching slow 1-3% quarterly price declines. Slow torture. Very Painful.
Why is any of this important ???
If you want to sell your home, you let the bubble burst.
If you have your home on the market for a maximum of 30 days and do not receive an offer it is priced to high. Period!!
You need to lower the price of your home 3-5% minimum. If you do not receive any offers within 3 weeks. Your home is priced too high. Period!
If you really need to sell your home then let the bubble burst. It hurts initially. However, ultimately, it is the less painful option.
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Copyright © James Wexler *What goes up like a Rocket and down like a Balloon? *
Contact James Wexler (480) 221-8080 for your Phoenix AZ| Scottsdale AZ area Real Estate needs
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DC Ranch in North Scottsdale is one of the most spectacular communities amongst the many wonderful places to live in all of Greater Phoenix.
DC Ranch is an intimate golf and exclusive community designed by DMB Partners as a premier resort, retirement and golf community nestled in the McDowell Mountains. 
This 3,700 acre master planned community is one of the most desirable place to live, not only in Scottsdale, but Arizona.
Tree-lined streets, family parks, walking paths through breathtaking desert landscape and community centers with pools, fitness club and recreational facilities add to the intimate and pleasant nature of the community which is broken up into 4 unique villages.
The reputation of DC Ranch and its prestigious sister golf community, Silverleaf is unparalleled in the greater Phoenix area and all of Arizona.
The DC Ranch resort lifestyle affords some of the most desired locations in Scottsdale with access to highways, great schools, boutique shopping and fine dining cuisine just steps from your front door on DC Ranch Market Street.
The restaurants and shopping are one of a kind, even for Scottsdale and have now extended to Canyon Village with restaurants Grazie Wine Bar and Cafe' Ted.
Situated next to the DC Ranch Village Health Club, an 81,000 square foot state of the art health and fitness club that includes children's day care, mountain biking rentals and large heated pools, is DC Ranch Crossing which today is celebrating their grand opening anchored by AJ's fine foods.
If you have considered living in Scottsdale. I highly recommend you visit the on site sales office on Market Street or the model homes of the high-end builders throughout DC Ranch.
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Copyright © James Wexler *Life in DC Ranch Scottsdale AZ*
Contact James Wexler (480) 221-8080 for your Phoenix AZ | Scottsdale AZ Real Estate needs
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We are facing the most important election in our lifetime as a Nation. Do not pass up opportunity to guide the future of our country and that of the State of Arizona by voting tomorrow. Please Vote!
First of all, here is what you need to know to receive a ballot in order to vote in a city, county or state election in Arizona 
As it pertains to Phoenix AZ real estate,
there are 2 critical ballots, Proposition 100 and Proposition 201
The first initiative is Proposition 100,
the Protect our Homeowners Initiative. Proposition 100 will protect families from the effects of a real estate transfer tax that could potentially be imposed by local government on the sale of Phoenix AZ real estate.
Currently, there is no real estate transfer tax. However, one could be imposed at anytime.
The second ballot is the - Proposition 201 - Arizona Homeowners Bill of Rights.
Particularly pointed at new home builders, the goal is to "provide homeowners with improved rights to deal with construction defects and shady home sales practices."
I am a big supporter of AZ real estate buyers rights. However, the bill in this current form increases builders costs and supplier costs. Though, in my opinion, We need better regulation and penalties for dishonest builders. We do not need to increase costs for the 99% of honest new home builders.
Whether you vote ‘yes' or ‘no' o either proposition 100 or Proposition 201,
DONT FORGET TO VOTE TOMORROW - remember 2004. Your Vote Counts !!!
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Copyright © James Wexler * Phoenix AZ Real Estate owners - What you Need to Know to Vote *
Contact James Wexler (480) 221-8080 for your Phoenix AZ| Scottsdale AZ Real Estate needs
Call me for a private tour of new homes in Phoenix, Scottsdale and Peoria and to learn more about life in Scottsdale AZ and living in luxury communities in Phoenix AZ.
Arizona Proposition 100, known by its supporters as the Protect Our Homes Act, will be on the November 4, 2008 ballot .
I encourage Phoenix AZ real estate owners to
Please Vote Yes on Proposition 100 that, in essence , would
‘prohibits the government from charging any new tax on the sale or transfer of real property in Arizona"
Currently, there is no real estate transfer tax.
However, one could be imposed at anytime. The effects of such a tax would take away equity from families and make the costs of sales greater. Both further hampering the ailing Phoenix AZ real estate market.
Finally, a transfer tax would be an additional tax to annual Phoenix AZ real estate property taxes. Thus, double-taxation.
Please Vote Yes on Proposition 100 to prevent double taxation.
you can visit www.protectourhomes.com and www.NoNewTaxes.com for more information.
All voters must now present identification in Arizona
In order to vote in a city, county or state election in Arizona, the voter must present:
(a) one form of appropriate identification bearing the name, address and photograph of the voter
OR
(b) two different forms of identification that bear the name and address of the person appearing to vote
What qualifies as an acceptable form of photo ID?
The following government issued IDs are acceptable, if they also include the name and address of the person presenting themselves at a polling place:
What other kinds of documents are acceptable as ID for voting purposes?
In lieu of one of the photo IDs listed above, a person who wishes to vote may bring any two different items from the list below to the polling place, as long as those items have the person's name and address on them.
DONT FORGET TO VOTE TOMORROW - remember 2004. Your Vote Counts !!!
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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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