Don’t Say It Yet But…
Yes certain areas are getting better in the valley and yes certain areas are still adjusting. this report and what was on the news on Thur. night was kind of funny, they said the Maryvale area is selling in a day with lots of buyers, and I said yes because the homes are 40k and you can rent them for 900 a month. the numbers work. Yes I think it is getting better now but I also think there is a second wave of foreclosures that will happen this Fall, to drive prices down one more time, but here is what I think is Good news and yes it is happing all over the valley not just in Maryvale. have a Great day…enjoy…Michael…
Valley home prices holding steady – Some of the most influential local real-estate analysts are predicting that home values have finally hit the bottom. Wednesday, Arizona State University Professor Karl Guntermann reported that the median price has held steady long enough to cautiously predict a coming period of relative price stability. Less-expensive homes could hold steady or see moderate gains in value, according to Guntermann and other experts. “Clearly, the rate of decline has bottomed out and appears to be moving in the right direction,” said Guntermann. The positive trend first emerged in April and has remained consistent since then. Tracking a sampling of homes that have sold multiple times in recent years, Guntermann compares repeat sales of each home for changes in price. In April, the median repeat home-sale price was 35% lower than it had been a year earlier. In May, the year-over-year difference decreased to 33%, and it has narrowed by an additional 2 percentage points each month since then. The actual median sale price has bobbed up and down slightly since April, but has shown no major changes.
http://www.azcentral.com/arizonarepublic/news/articles/2009/08/20/20090820biz-homeprices0820.html
