by Tim L. Greenfield, Associate Broker, ABR
Coldwell-Banker Residential Brokerage
www.GreatScottsdaleLiving.com

August 3rd. 2009 

ASU researchers have found that the rate of housing price decline slowed and began to level off in April. 2009. There have still been significant year over year decreases across our metro area.

Does this mean our price slide over the last several years is over? ASU also thinks the bottom of the market may be determined to have been reached in May 2009. Only time and hindsight will determine if in fact May was the bottom.

Does it matter? As I have stated many times before, no.  Buyers who purchase properties / houses anywhere near the bottom of the housing price cycle, on the way down, at the bottom, or on the way up, will all be quite happy with their properties price appreciation over time as the market completes the correction, returns to “normal”, and appreciates as the cycle is complete. That is not even to mention the economic recovery of the entire country and overall economy from the recession we are currently experiencing. 

Additionally, there is a tax credit for first time Buyers of up to $8,000.00, and interest rates continue to be quite low.

 For additional information about the market please visit my website www.greatscottsdaleliving.com  

 Questions?  Call me.
Tim Greenfield 480-231-5309

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