Phoenix Crashed and Burned!

Great article about “timing” for your real estate purchase by the Wall Street Greek Real Estate Columnist Michael Douville.

Douville comments on market conditions for the Phoenix area specifically and that the infamous “location, location, location” should in our present economy be replaced wit “timing, timing, timing”…

following is an excerpt from the article;

“Phoenix crashed and burned! That is old news. When an event that happens once or twice in a lifetime occurs, the likelihood of it re-occurring again is measured in decades not months. Can the group of rentals that topped at $220,000, and are now $75,000, rise to $100,000 to 125,000? Can the properties sold in 2006 for $500,000 that are now $300,000 rise to $400,000? In my opinion, YES and maybe more!! Buy that vacation home; buy that luxury condo; buy that investment rental; buy the unit close to school; help the children or grandchildren acquire a home of their own. In my opinion, an opportunity of this magnitude presents itself once or twice in a lifetime.”

for the complete article… click here