If (choke, cough) you were a REALTOR (gag) and wrote about market conditions for Realty Times, what would you say (to drive commissions)?

Serious question. Here's my serious answer for the dimwits out there still trying to slog dead houses:

Real Estate Conditions - Phoenix, Arizona - Reported by your REALTOR, HousingPANIC:


An epic housing collapse is upon us, and Phoenix is the epicenter of this meltdown. If you own a home, I highly recommend getting it on the market, NOW, and price it to sell on day one - in other words, "drama pricing" and undercut your neighbors. Your goal should be to get out of that house ASAP, as it's only going to get worse from here on out, with skyrocketing inventory, desperate new homebuilders, and a total collapse in demand. This downturn will last years.

If you are in the market to buy a home, I'll help you with lowball offers until we get the house you want at a fair price. What's a fair price in this market? Your monthly payments should be less than what the house could generate in rent. And you should be thinking 30% - 50% off of peak pricing today. Sellers have never been this desperate, ever. There are foreclosures all over the city, and homeowners just want out.