2009 Arizona real estate - single family resells (foreclosures, housing, insurance)

[Ria Rhodes]

Can't speak for other areas, but..

unless you're giving it away, Central Arizona residential SF reseller market is for the most part dead, dead, dead.

Most all residents are scared sh_tless to spend on non-necessities. Most all residents are scared to change jobs (even ones they hate). Most all residents are not auto shopping. Most all residents are not in the malls. If you believe otherwise put down the bottle/baggie/rose-colored glasses. If you're one of the well-off in this economic environment you're feeling the cold shoulder sooner rather than later. Best to hang with other well-off friends till the masses feel like seeing your face again.

Even drastic shorts, foreclosures, et al are D.O.A. unless it's a real giveaway gig (not those lame bank-owned 25% off listings).

Hang on low-baller's and opportunists - things are going to get even better for you by 3rd quarter of '09, and heaven help those who owe more on their homes than they are worth. They are really screwed.

[josehernandez017]

Right now Arizona the former home of the boomtown is in a deep recession. The housing market is in a slumber. I don't even see how it could turn around. Az has always relied on the housing market to get by.

Az may be gone for good like Detroit. I mean its pretty bad.

[aneftp]

Originally Posted by josehernandez017

Right now Arizona the former home of the boomtown is in a deep recession. The housing market is in a slumber. I don't even see how it could turn around. Az has always relied on the housing market to get by.

Az may be gone for good like Detroit. I mean its pretty bad.

I doubt it. Most California people leaving are going somewhere. They have ties to the West Coast. They are going to Arizona/Nevada.

Arizona is not like Detroit. I know it seems pretty bad down there (my friend lives outside of Phoenix and he's in a recession proof profession (medicine). He grew up in Bloomfield MI (I think it's a nice area outside of Detroit). He says the education level is much higher in Arizona than Detroit Michigan.

[Ria Rhodes]

Originally Posted by aneftp

I doubt it. Most California people leaving are going somewhere. They have ties to the West Coast. They are going to Arizona/Nevada.

Arizona is not like Detroit. I know it seems pretty bad down there (my friend lives outside of Phoenix and he's in a recession proof profession (medicine). He grew up in Bloomfield MI (I think it's a nice area outside of Detroit). He says the education level is much higher in Arizona than Detroit Michigan.

Be nice if the medical field sector could lift the country out of the dumps, but even medical practitioners are slapped with the high cost of malpractice insurance coverage, and Medicare reimbursements they agree are to low. I agree that employees with in-demand skills are going to weather this economic recession just fine (so lesson is more important than ever - make sure your kids get an education that is marketable for their futures). It's the majority of Americans who drive our economy, not the best educated. The squeeze is on, and no one knows how deep the fall, and how long the pain. Those 'experts' in the business media saying 10%+ unemployment is quite plausible this year scare the wits out of me. Hope you all have medical coverage for your whole family. Lots of families are scared to death to be out of work with their medical coverage benefits expiring. COBRA is a venomous snake, not the best acronym for a person's health care lifeline - is it?