Gotta love that Arizona Republic - another dinosaur being disintermediated by the internet, combined with rapidly falling advertising sales as their #1 advertiser - the REIC - blows up. So what do they do to make the homebuilder advertisers happy? Send a reporter out to write about what a great time it is for first time homebuyers in Phoenix of course!
But like Michelangelo inserting hidden messages at the Sistine Chapel, I'd say this reporter served his masters (Republic editors, homebuilder advertisers) while slyly getting the message out that it's actually a TERRIBLE time to buy a home. See if you can find the secret messages!
Rookie home buyers have help - Buying knowledge can yield opportunities
This is a good time for first-time homebuyers to get into the market, real estate agents say.
"I really don't think people should wait too long, because I think things are going to change," she said.
This month, Keller Williams Realty Southeast Valley in Gilbert hosted free seminars for first-time homebuyers, events they plan to offer again Jan. 3 and Jan. 6. No one showed up to the December seminars.
"First-time buyers may not know how good the timing is, McClaskey said. "I do believe a lot of people are scared off by what they hear about the market," she said. "The average person that's not deeply entrenched in it, they have no idea. They think everything's come to a screeching halt, because that's all they've heard."
The Southeast Valley, like greater Phoenix, has about an eight-month inventory of available homes, Rochelieux said. Normally, a healthy inventory is three to four months, he said. Prices dropped this year, a trend Rochelieux thinks will continue. "I suspect we will see another 3-5 percent decline over incremental periods over the first six months of 2007, until inventory's back in balance," he said.
December 10, 2006
Posted by blogger at 12/10/2006