Comments on: 2008: What Really Happened to Phoenix Real Estate? http://www.allphoenixareahomes.com/2009/01/18/2008-what-really-happened-to-phoenix-real-estate/ a housing market blog site from russell shaw of john hall & associates Tue, 09 Feb 2010 07:51:06 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Bruce Lemieux http://www.allphoenixareahomes.com/2009/01/18/2008-what-really-happened-to-phoenix-real-estate/comment-page-1/#comment-276 Bruce Lemieux Mon, 09 Feb 2009 01:22:01 +0000 http://www.allphoenixareahomes.com/?p=41#comment-276 I concentrate in Montgomery County just outside of D.C. I've been looking at the stats a number of different ways, but I only just correlated the relationship between overall sales activity and distress/REO sales. Our market is booming for entry-level homes which are dominated by distress sales. Distress sales = lower price = deals. Price drives everything. The cheaper the house, the better. In areas and price segments with fewer distress sales, we are seeing a significant reduction in the number of contracts... and more downward pricing pressure. We're an expensive market that's held up better than most. Still, I felt like a dummy not to understand these market forces without this analysis. Thanks for the post. I concentrate in Montgomery County just outside of D.C. I’ve been looking at the stats a number of different ways, but I only just correlated the relationship between overall sales activity and distress/REO sales. Our market is booming for entry-level homes which are dominated by distress sales. Distress sales = lower price = deals. Price drives everything. The cheaper the house, the better.

In areas and price segments with fewer distress sales, we are seeing a significant reduction in the number of contracts… and more downward pricing pressure.

We’re an expensive market that’s held up better than most. Still, I felt like a dummy not to understand these market forces without this analysis.

Thanks for the post.

]]> By: Greater Phoenix Golf Course Homes - Local Real Estate Opportunity « John Hall & Associates - Phoenix Real Estate Brokerage http://www.allphoenixareahomes.com/2009/01/18/2008-what-really-happened-to-phoenix-real-estate/comment-page-1/#comment-271 Greater Phoenix Golf Course Homes - Local Real Estate Opportunity « John Hall & Associates - Phoenix Real Estate Brokerage Thu, 05 Feb 2009 20:38:21 +0000 http://www.allphoenixareahomes.com/?p=41#comment-271 [...] Off Seminar, Jim Sexton analyzed what effect REO’s were having on the entire market.  (Some agents also used those charts on their websites.)  Since it was such a telling picture, I decided to chop [...] [...] Off Seminar, Jim Sexton analyzed what effect REO’s were having on the entire market.  (Some agents also used those charts on their websites.)  Since it was such a telling picture, I decided to chop [...]

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