Well, here is an update for AZ real estate investors- more of the same.
What is selling? Short Sales and Foreclosures, especially in golf course communities.
What are my investors buying right now? Cheap condos- some as low as $36,000 for a 2bed, 2bath townhome.
What is going up in price? Not much. But I am seeing a small uptick in prices in areas that were formerly VERY low and these are in outlying areas, rather than close to PHX.
What is my prediction? More of the same. I am not seeing the activity by 1st time Buyers that I saw prior to November 2009. I am not sure that extending the tax program into Spring 2010 has actually created the sense of urgency that the first program did.
I am listing and selling a lot of Short Sales right now and predict that this will be the bulk of my real estate activity in 2010.
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