SW Valley leads realty rebound, experts say
David Madrid, The Arizona RepublicSept. 4, 2007 12:00 AM

This article had several quotes that I fully agreed with, almost talked out loud to myself when I read them, and I have explained the same to some of my own clients, here they are;

Carl Giordano Sr., of Giordano and Giordano RE/MAX Achievers in Goodyear, said he and his wife and business partner, Phyllis, think the housing market is stabilizing. "Phyllis and I believe this is a good market," Giordano said.

"And what I mean by a good market is everything that needed to be weeded out is being weeded out. We're back to old real estate. You've got FHA. You've got VA, and you've got conventional (loans)."That weeding out of subprime lenders and real-estate agents who entered an overpriced 2005 market to make an easy buck is stabilizing the market, he said.

HALLELUJAH & AMEN, that's what I say!!

Sharon DeMoss, a realty agent with Keller Williams Realty Professional Partners in Goodyear, said because of the subprime meltdown, the market is flooded with listings.

Subprime lenders pushed adjustable-rate mortgages that began with a low interest rate. Once the rate increased, too many people couldn't afford the payments."Many of them (resale homes) are overpriced," DeMoss said. "We are sitting with our sellers and saying, 'You guys have to be the lowest price in your subdivision for your floor plan.'

And many times that doesn't even do it because many buyers are coming in and saying, 'I don't think the bottom is here yet. If I pay $250,000 for this house, how do I know that in six months I'm not going to be able to get it for $200,000?' "

this is the sad but brutal truth in the world of a seller currently, Your home must be stellar, marketed properly or priced right to compensate for any missing elements of the latter.

To read entire article go to: http://www.azcentral.com/business/articles/0904biz-swv-homesales0904.html

Yours to Count On,
Erika Madsen
Real Estate Consultant
Re/Max Power Realty
"Your Advisory Team" Founder/Manager
480-695-6572

p.s. if you or anyone you know is considering a move in the current real estate market- you deserve an agent who has a strong knowledge to help you succeed! Visit http://www.PhoenixAreaMls.com/ to learn more about Your Advisory Team & Our Performance GUARANTEES!!