Is this a good time to buy?

[vince3vince]

Originally Posted by SMG

Personally, if I am buying a property I could care less about what it sold for in 2006, what it orinally sold for, etc. I could care less. If the seller made a bunch of bread, good for him. I am going to look at the sales price, current sold comps, my budget and the interest rate...all things that are happening now...concerning myself with the bubble and what happened in years past seems to be a useless exercise.

never said 2006 or ANYTHING over a year for that matter.

[Zippyman]

Originally Posted by vince3vince

never said 2006 or ANYTHING over a year for that matter.

If you're concerned about getting the best deal possible, you wouldnt be looking at flips at all.

[Discovery1]

Originally Posted by vince3vince

I've been looking for a place for my parents to move to for a couple months now and I am questioning some of these home prices I see. I've been looking in north phoenix (Suprise, Stetson Valley, Norterra, Desert Ridge, Desert Mountain, etc...) and a lot are asking more than what people paid in 2008. Do you think phoenix is really at the point where our homes are worth more than what they were worth at the height of the bubble?

I do think US housing market in general including Phoenix will continue to go up for another 2 more years. Limited housing inventory plus low interest rate, and builder couldn't keep up building new homes. That is why you see builders hike up prices atleast 3 times in last 13 months here in Phoenix metro.
3/4 expected growth in metro Phoenix next decade going to be in the West Valley and Goodyear is my pick.

[LagunaMom]

Went to a Redfin seminar the other night. Prices in Phoenix are at the '04 level.
Prices are going to continue to increase, R says, so if you want to buy, now's a good time.
That said, buy what you can afford. Always good advice.