This Week’s Most Interesting Real Estate Statistic

Friday, February 8th, 2008 | Real Estate | No Comments

If you have been reading my articles, you are aware the I look for opportunities where many see gloom and doom. When I hear people talk about the mortgage crisis and current valley real estate conditions, it is almost always in negative depressing terms.

This economy is a double sided coin. If you look at times where a family loses a house because of financial problems usually there is another person or family that buys that house at a great price. In an open economy the saying “one person’s loss is another person’s gain” is true most of the time.

The problem in listening to gloom and doom, you see only the loss side of the coin. People right now are not buying the real estate they should be buying because they are afraid. Prices are falling. No one can get a loan. The economy is in a recession. All of these emotional phrases are excuses to delay looking for great opportunities.

The most interesting statistic I heard this week was the 72% of all home purchases in the valley recently were by investors! These aren’t speculators who are hoping for a quick buck. These purchases were made by people who know a good deal when they see it and are willing to act. They know that you are supposed to buy in a buyer’s market and sell in a seller’s market. It’s a buyers market – big time!

Vegas is now #1, but not in what they want to be!

Friday, February 8th, 2008 | Money, Real Estate, The Economy | No Comments

Great news for Phoenix about the mortgage crisis. Some times when you read or listen to the news the information is sensationalized to attract your attention rather than give you important information.

CNN Money has an article about the top 100 zip codes

http://money.cnn.com/2008/02/05/real_estate/zip_code_foreclosures/index.htm?postversion=2008020512