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Arizona Market Recovering? Many times I read the local newspaper so I don't forget how to read...lol. Occasionally there's an article that catches my eye. Today it happened.  The Headline: VALLEY REAL ESTATE AGENTS HAVE GROWING OPTIMISM If you would like to read the actual article, I've included a copy (just click on image). In a nut-shell the reporter contacted Bob Bemis (ARMLS CEO) who heads up our MLS (multiple listing service). According to Bemis they contact agents who have represented a buyer/seller in the last year, and ask them if they're confident in the housing market. Points are assigned, and a number emerges. In January 2012 the number was 87. 100 is a perfect score. In February 2011 it was 57. Do I agree? I do, and here's my perspective. First, and few personal observations. If an agent sold a home between February 2011 and January 2012, they're going to have a perky outlook... Most likely they sold little the year before, so any sale after a long dry spell, can do wonders for the spirit. I see it this way, and as you might have figured out, I'm all about breaking things down so I can easily understand. I'll even use Arizona in my analogy. You're in the middle of the desert, it's 115 degrees during the day, and you have zero water. After walking 10 miles looking for help, you start to feel your throat tightening, and you've stopped sweating. While not a doctor, you know you're in serious trouble. As you sit down, giving up, you catch a glimmer off something just out of view. Crawling, you discover a muddy puddle. Enough water, you think, to last several days. It suddenly appears you might survive until help arrives. You're outlook? Pretty damn good...lol. If it takes longer than a few days to be found? Well, you'll worry about that when you start sucking on the damp sand... I'm half joking, but I think you get my point. Studies based on "perspectives" are hard to trust. Here are the facts, and I've seen this trend myself. If you're thinking about selling your home, and it's a straight forward sale (not a short sale/foreclosure) you're in high demand. Those buying in todays market understand what's involved in buying a distressed home. Many buyers find it worth while to spend a bit more, to not subject themselves to the process. This drives up home prices, and creates demand. Oh, and new home sales are at record lows (40 year record lows), so buying new isn't an option. Foreclosures and Short Sales aren't going to go away, and some think they will increase over the next 12 months. Some buyers will rethink the hassle, and purchase. Demand for the "easy purchase" homes will go down, and home values might stall. Also, if more sellers decide to sell, home values will be effected. Supply and demand. THE BOTTOM LINE? It's a good time to sell. It's better than 12 months ago, 2 years ago, or even 3 years ago. It's also a great time to buy. If you're looking to get into something a bit nicer, increasing prices won't just effect your home. The one you want will increase as well.
Shelve all the unrealistic expectations, get your home on the market, and make your move. Hey, I'll help you with it...lol.
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