Enjoy this Top Ten List borrowed from Diane Gerdes of The Mortgage Advantage.
Phoenix has withstood additional blows with negative press, but all in all 2010 showed small signs of recovery for our great state.
2011 will be even better, here are the top ten reasons Phoenix will have a prosperous 2011:
10. Phoenix's unemployment rate dropped below the National average to 8.5% in December, 2010 and is expected to slowly decline. Technology and resort-leisure jobs are still the go-to jobs in Arizona, unless you open a pawnshop.
9. Arizonan's love to shop. Wal-Mart is Arizona's largest employer employing over 30,000 people.
8. Arizona is all grown up by implementing their very own stock index called The L&D Arizona Composite Index. It is compiled of companies headquartered in Arizona and publicly traded on the NYSE and NASDAQ.
7. We are not depending on the 5 C's that have defined our state for decades: Citrus, Cattle, Cotton, Copper, and Climate. History Lesson: All five are incorporated on our state symbol.
6. Green is the word! Solar and Algae are the buzz words for fuel sources in the 21st Century. Both industries are continuing to anchor themselves in our state. If oil prices continue to rise, and stay high, we may finally be forced to mass-produce cleaner and more effective alternatives to our oil addiction. Segway's are not the answer if you wear high heels and worry about your toupee.
5. China's inflation may be the U.S.'s windfall: the cost of our goods will become competitive. The Chinese don't want to buy goods labeled "made in China."
4. Our border state geography is a benefit for legal exports and imports from Mexico, Arizona's largest trading partner. According to azcentral.com, exports to Mexico topped $5.9 billion and imports $5.2 billion in 2008. That is a lot of Chihuahuas.
3. The Phoenix metro-plex offers the most affordable housing in the U. S. With rock bottom prices and low interest rates (stop whining, no, they're not at 4% but still pretty darn low) make for an unbeatable combination. Also, families who lost their homes in 2007 and 2008 may be able to re-enter the mortgage market this year.
2. We have the Grand Canyon. Air traffic through Sky Harbor increased in 2010 over 2009.
1. Arizona is not Green Bay or Pittsburg. With the brutal winter in many parts of the U.S. and Canada, pictures of our sunshine will continue to entice people to visit and stay awhile.
No matter what the circumstances of our economy, it will be up to us to energize 2011 and help make it a great year.
Tuesday, February 1, 2011
MAKE 2011 YOUR YEAR!!
In the last 2 weeks we have seen less than positive news regarding the Real Estate Market in the Phoenix area. Luncheons and meetings have been held where people pay hundreds of dollars to hear experts speak on where the Phoenix market is headed. The general concensus is that it may takes us a bit longer to recover.
In every market, however, there are positives. For Buyers, this is one of the best markets ever. Our Phoenix area prices are down. Coupled with low interest rates, this is one of the best times ever to purchase a home in the Valley of the Sun.
For Renters, there is a larger, more upgraded inventory of rental homes. Investors are purchasing homes in quantity and are turning these homes into rental properties. I have seen many homeowners short sale their home and move into bigger, nicer rental properties.
The key to surviving in Real Estate is to move and adapt to the market.
Consequently, our short sale inventory is way up and we have many buyers purchasing "investment properties" that their "children" will live in while the children reestablish their credit. This market, like any market, is an opportunity for both buyers and sellers. Buyers can purchase low priced homes at excellent rates and Sellers can get out from under a mortgage that will otherwise drag them under financially for years to come. The key is simply to be knowledgeable about the market and to react to its ebbs and tides with your future in sight.
If you need help, just let us know. 623-694-0354.
In every market, however, there are positives. For Buyers, this is one of the best markets ever. Our Phoenix area prices are down. Coupled with low interest rates, this is one of the best times ever to purchase a home in the Valley of the Sun.
For Renters, there is a larger, more upgraded inventory of rental homes. Investors are purchasing homes in quantity and are turning these homes into rental properties. I have seen many homeowners short sale their home and move into bigger, nicer rental properties.
The key to surviving in Real Estate is to move and adapt to the market.
Consequently, our short sale inventory is way up and we have many buyers purchasing "investment properties" that their "children" will live in while the children reestablish their credit. This market, like any market, is an opportunity for both buyers and sellers. Buyers can purchase low priced homes at excellent rates and Sellers can get out from under a mortgage that will otherwise drag them under financially for years to come. The key is simply to be knowledgeable about the market and to react to its ebbs and tides with your future in sight.
If you need help, just let us know. 623-694-0354.
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