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Old 03-11-2012, 02:20 PM
 
784 posts, read 923,316 times
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Don't forget to add in all of the people that rushed in and bought in 2009, including many realtors lost their butts in 2010 and 2011...
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Old 03-11-2012, 02:27 PM
 
Location: Calgary, AB
681 posts, read 1,560,881 times
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Quote:
Originally Posted by jdahunt View Post
Don't forget to add in all of the people that rushed in and bought in 2009, including many realtors lost their butts in 2010 and 2011...
Huh?

Sorry - not sure what you mean? I don't think there are many people (if any) who purchased in 2010 or 2011 who are under-water. There are certainly some that purchased in 2009, but probably not by much and given the recent stats, won't be for long.
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Old 03-11-2012, 02:32 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,781,079 times
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Quote:
Originally Posted by sh9730 View Post
RJRCM,

I do wish yours and Capn Bill's sites allowed to screen out age restriction though!
On mine, scroll down to Special listing Conditions, there you will find Age Restricted. To filter out age restricted, select Not, and then click on that field so that the restriction is active.
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Old 03-11-2012, 02:40 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,781,079 times
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Quote:
Originally Posted by jdahunt View Post
Don't forget to add in all of the people that rushed in and bought in 2009, including many realtors lost their butts in 2010 and 2011...
That is just idle conjecture; and what does it have to do with the current state of the Phoenix real estate market and the so called "shadow inventory" of today, which what this thread is all about?

You don't live here, and don't know what the Phoenix market is all about. You have some misguided information, and the people on the forum who know the market have been trying to help you understand what is happening here. I don't think you are reading and even trying to comprehend the information that has been provided for you.

Now you're just throwing out some meaningless statement with no facts, that is doing absolutely nothing to add substantive information to the post.

I do wish you good luck in finding a home when you come here, because you are going to need it.
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Old 03-11-2012, 02:54 PM
 
2,879 posts, read 7,780,709 times
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What's your take on the condo market Captain?
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Old 03-11-2012, 03:47 PM
 
784 posts, read 923,316 times
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My point is when people especially those tied to realtors start telling you to hurry up and buy it is time to pay attention to whose telling you that. I heard the same thing in 2009(it can't go any lower), it is amazing how many realtors themselves bought then and now are in big trouble.
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Old 03-11-2012, 04:47 PM
 
9,743 posts, read 11,165,585 times
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Quote:
Originally Posted by jdahunt View Post
My point is when people especially those tied to realtors start telling you to hurry up and buy it is time to pay attention to whose telling you that. I heard the same thing in 2009(it can't go any lower), it is amazing how many realtors themselves bought then and now are in big trouble.
As I said before, my advice to my kids (assuming they were in the Phoenix market) would be to buy NOW! Well, actually I would of told them to buy at the beginning of 2011. If it matters, I'm not a RE agent. But if you go look back n 2009 and 2010, you will see I recommended people NOT to buy then.

So far so good. Forgetting the fact that I took in $20K of rental income for 16 weeks, my place is up $60K in value.

jdahunt. I think you should just wait till all of this shadow inventory comes in. You said that the prices of the homes that you are watching are DROPPING. Why on God's earth would you buy when prices are dropping? Since you cannot trust your real estate agent, how are you going to figure out what is going on? Are you planning on peaking in the windows of the neighborhoods to see if people are living in the home? My advice is stay home and save a wasted trip. For the others who think that prices are rising, buy NOW!
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Old 03-11-2012, 05:03 PM
 
784 posts, read 923,316 times
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It looks to me like there are two opposing sides....realtors who say there isn't one any different then it always is and money investment managers who are saying its as much as 6 million and getting ready to hit in the next 6 months.

The only information I have is to watch auctions where 95% of the houses go back to the bank....where are they going and what is being done with them...they will have to be sold at some point.

My plan was to buy no later than this spring....for the houses in my price range I don't see them dropping much, if it ends up being 10-15% thats no big deal.

So why did you end up chosing Arizona over Florida?
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Old 03-11-2012, 05:15 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,781,079 times
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Quote:
Originally Posted by khuntrevor View Post
What's your take on the condo market Captain?
I own two in Mesa. I bought one in 2009 and another in 2011 and tried to buy more but got outbid each time. Now it's hard to buy one where I was looking, and the prices are higher than I want to pay.

They got hit very hard as you're aware, and my opinion is that they'll eventually recover. Many of the first time buyers are going to get priced out fairly quickly if this present trend keeps up, and they will probably turn to condo's in their price range.

I could sell both these at a profit now, but I bought them for rentals and long term appreciation.
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Old 03-11-2012, 05:47 PM
 
Location: Gilbert - Val Vista Lakes
6,069 posts, read 14,781,079 times
Reputation: 3876
Quote:
Originally Posted by jdahunt View Post
My point is when people especially those tied to realtors start telling you to hurry up and buy it is time to pay attention to whose telling you that. I heard the same thing in 2009(it can't go any lower), it is amazing how many realtors themselves bought then and now are in big trouble.
What you may not realize is that many of the posters on this forum, who have been using their valuable time to try and help you understand the current market situation, have been watching and and studying the Phoenix real estate market for several years. And they know what they're talking about, from first hand experience.

Some of them are highly experienced investors, and they understand the market well. If they doubted my facts, they would be all over me; but they know the source of my facts, and know the source is reliable.

No Realtor on this forum has told anyone to hurry up and buy. Those are your words. The Realtors here are stating the data, and verifiable facts. Take the facts and use them as you will. That's up to you.

You do not know how many Realtors bought "then" and are now in big trouble. That is just idle conjecture.

Your responses seem to be driven by the fact that you are not hearing what you want to hear, so you decide to attack Realtors credibility instead of studying and trying to understand the data.

By the way, many of those "vacant" houses that you'll be counting when you arrive here are owned by snow birds, who are beginning to fly north for the winter. Be sure to not count them.

I wish you the best of luck in finding a home, but the reality is that you'll be in the same line with multiple offers with everyone else if you make offers on homes in your stated price range that are priced at the market. You'll have a little bit more supply in Surprise, but as Mn-born-n-raised stated, there is one area there that is not as desirable.

I suggest you take his offer up to buy you a beer. He will be very helpful to you.
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