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Friday, May 29, 2009

Housing Demand Stabilizes

According to Business Week, recent signs point to a stablizing housing market. Read the article here.

What does HomeLover owner and real estate investor Mike Sargent have to say? "Those that wait for the bottom of the market to be obvious are acting too late.

What we are seeing in the Phoenix metropolitan area are investors aggressively moving in to purchase a tremendous number of foreclosure deals. They are coming from Canada and Arizona's surrounding states to eat up the inventory because they are confident the market at rock bottom or close enough to not matter in the long run.

Arizona declined earlier than most housing markets so we are seeing an earlier recovery.

There are bidding wars going on right now similar to the real estate boom in 2005-6; if you want 2 homes for your investment portfolio, you need to bid on 5. The demand for bargains is extremely high.

That being said, just because a home is a bargain does NOT automatically make it a good choice for an investment portfolio. Using a property investment advisor to carefully select the RIGHT "bargain" is critical to the health of your investment portfolio. Don't snap up the best deal until you are certain it is the best investment. "

Click here to read the full article on HomeLovers.com about choosing the right investment property.

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