It all depends where you are and who you listen to. I'm with Bill. The best is yet to come. Unfortunately, in the Phoenix metro area that won't be for a while.
It seems like for every media report that asserts foreclosures are rising there is a report asserting that foreclosures are declining.
Can we have some insightful analysis. please?
The reports are usually very thin on facts and anaylsis of trends. Real estate professionals may notice that the reports omit vital influences such as impact of the $8,000 tax credit, seasonal issues, loan modification ups and downs and other temporary factors.
If you blink you'll miss the trend
It sometimes seems that publishers scour the statistics for some very narrow microtrend in time or geographical area so they can publish a scoop on how the market has changed.
The readers often are left scratching their heads wondering how they missed that trend.
And then there's the future...
Then comes the barrage of predictions; The worst is over, the worst is yet to come, things will change in the summer, things will change in third quarter next year, things will improve before the elections or after the elections.
In the meantime sellers, buyers and Realtors should just keep on keeping on. By saving homeowners from foreclosure we create the statistics for others to report.
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