Time to buy Phoenix real estate
There has never been a better time in current history, to buy real estate in the greater Phoenix area. Of course, you need good credit and money down, which is easier said than done for a staggering number of people.
All statistics and predictions are sharing the same thought process, that we are at the bottom of our market drop, and in this buyer's market you can still negotiate the best educated price on a house.
Long gone are the days of using a house as a personal piggy bank, so buy for the long run and because you like the location, house, and community. I highly recommend using a professional Realtor to help you with research on your purchase. Buy in areas that are not over saturated with REO listings, unless you have specific plans for a long term hold.
Check rental rates for investment properties within a two mile radius of prospective homes you may want to purchase. You may find that there is an over abundance of rentals in a specific area, which drives rental rates down as well as making vacant hold time extremely painful.