We're getting closer

Three months of rising home sale in the Prescott area are a good sign that we have reached the bottom of the current housing crisis. Overall, the housing inventory has taken a slight drop which indicates that we are selling more houses then are coming onto the market. If we can continue this trend, we will reach a level where housing values are increasing at a level where investors will come back because they can earn enough money to make it worth their effort. However, if you are considering investing, this is the best time while the inventory is high. This is perhaps the best buyers market that any of us will ever see in our lifetimes. If you have any questions or want more information, call me @ 928-925-6050.

Read the full article at:
http://www.dcourier.com/main.asp?SectionID=74&SubSectionID=107&ArticleID=71793

A long way to go!

We keep hearing all this new about how well the economy is doing, all the signs of a economic recovery. Well, if we have hit bottom, we have a long way to go before we start seeing any significant gain in the housing market. On the front page of the Real Estate section, three stories about mortgage delinquencies dominated. On the local front, almost 34% of all houses with mortgages in the Prescott area have negative equity. Until we get those houses back into positive territory, things in the area won't get much better. However, on the local MLS, declining inventories are a nice sign. Most of those houses being sold are foreclosures, but until we get those off the market, home prices will have a hard time returning to normal.

For more information, check out:
http://www.dcourier.com/main.asp?SectionID=74&SubSectionID=114&ArticleID=71602&TM=70016.93