March 7th 2010. Troy Reeves who has been in Arizona Real Estate for 18 years, and has made a name for himself the past decade for accurately predicting the market is now claiming “The Market Is Turning Around”
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March 7th 2010. Troy Reeves who has been in Arizona Real Estate for 18 years, and has made a name for himself the past decade for accurately predicting the market is now claiming “The Market Is Turning Around”
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Excellent comments and feed back..Thank you Ken & Jim!
Troy is an awesome REALTOR and really has a good instincts for what is happening with local real estate. I agree that the “market confidence” is slowly improving but not among the average home buyer, just the real estate investors. In my opinion it will be many years to come before the average american home buyer shares that same enthusiasm. When the market went through some tough times during the collapse of the Savings and Loan Industry in the late 1980’s the smart investors made millions of dollars knowing the market would improve. If the average homewner understood this and took a history lesson they would realize now is a great time to buy. But I don’t feel the average homeowner can see much beyond what is going to happen over the next few months (not years). Wake up homebuyers now is the time to buy…your confidence will help to perpetuate more confidence…and then you will have a real market turn recovery.
I believe parts of the real estate market absolutely ARE “turning around” for the better. However I do not see residential property values, in several home-value sectors improving for some years. In the near future, if not already, we will see major changes in the way short-sale & Bank Owned listings are thought of by realtors and general public with a negative connotation. Although, foreclosure properties are still dominating the leader board in sales, the public demand for properties with “pride-in-ownership”, and remodeled “turn-key” properties is growing in sales, and demand. With some government assistance, and liquidating bank owned, Fannie Mae, Freddie mac and HUD owned property, we should start to get back on track to an equity driven real estate market. There is no question, that the real estate market is getting better, but we are not out-of-the woods yet, Just my .02