CAUTION - OVERLY OPTIMISTIC REAL ESTATE NEWS

I’m the first person to say YEAH!!! to positive news 

with regard to real estate.  However, I caution you that while there are some things that are good, we still have a long way to go.  Housing starts are up…..yes, because the prices of new homes have dropped substantially to allow people to be able to afford them.  More homes in escrow….yes, this includes all foreclosed properties, short sales and non-distressed properties.  This is good because it gets more homes off the market and starts to level the playing field a bit.  

We must keep in mind that while there’s a tidbit here and there of good news, we are far from seeing the end.  People continue to lose their jobs.  And, while I don’t think Phoenix is hurting as bad as other parts of the country, we do have job loss.  

The fact remains, if you don’t need to sell, DON’T!  If you have money and want to buy an investment property then go for it.  I would love to have a bunch of listings, I’d love to have your listing, but I still say wait if you can.  

The affordability of this market is bringing new buyers in.  First time buyers….that is good.  I hear that there are multiple offers on properties….we are talking properties that are priced mostly below $200,000.  Don’t get me wrong this is a good thing, because as these multiple offers come in, that drives up the price because there is demand.  

All in all, this Country is amazing and we shall overcome this housing isse.  It’s just unfortunate that the house of cards came tumbling down so hard on so many.  My heart goes out to those who have lost their homes due to job loss or perhaps were in an ARM and the payment just got out of control. 

We need to, as responsible members of this society, take responsibility for our own destiny.  If it sounds too good to be true, it probably is.  Think about what you are doing.  Can you afford it?  Do you have the required down payment?  Is your job secure (is anybody’s)?  Americans are smart people and we love that we can work hard, save our money and buy our own home.  This is true pride of ownership.  Why would you put yourself in a situation that causes you stress?  Home ownership is both hard and wonderful.  Do it for yourself and your family.  Do it because you love the home, not because you think you’re going to make a quick buck.  Those days are over for awhile and anyway isn’t that part of what got us in this mess in the first place????