Phoenix Resale Prices could fall to 2002 Values, see article here

well here's a NEWSFLASH, in alot of areas they already have! I have been showing homes to clients where a listing price today was considerably under what they were originally sold for 6-8 years ago, I can't believe as I walk thru these houses that after 10 years in real estate I would see home values this LOW ever again.

Here's comments from another reader of Catherine Reagor's BLOG regarding the above article (I full heartedly AGREE);

posted by Darrell2230 on May 23, 2008 at 12:00 PM
MIGHT fall to 2002 levels? Ya think????
Come on people. Affordability. Price/rent. Supply/demand.
This is basic econ 101 stuff.
OF COURSE we're going back to pre-bubble prices. And the sooner we get there, the better, because that is when builders will FINALLY stop adding more inventory to our already HORRIDLY oversupplied market.

A recent article I read explained how Realtor incomes have been affected, after being a 10 year veteran in the Phoenix market, I can tell you from the experiences I have and continue to have that we have all been thrown a HUGE curveball! Those of us who LOVE and live for change, who learn from it, master it and grow from it ~ will stay in this fantastic business. I have no plans to go anywhere, just business plans being re-worked.

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!!