I asked my friend Dr. Doom what his thoughts on the market were and it's all gloom to him, but that is what he is all about and what we pay him to say. The negative will always have an audience because we all have the tendency to despair, especially when money gets tighter, lending money to consumers gets more expensive and we feel the grip around our collective throats of a credit crunch and a looming recession. The Fed's recent discount gave an enormous boost to the markets temporarily but days later rates are right back where they were weeks prior. So what do we do? Most analysts agree the true bottom won't be realized until the dust settles this fall.

The good news for you in Arizona with Arizona holdings (homes, land, commercial, rentals etc) a hell of a lot of people move here day after day after day, 150,000 a year by recorded standards, what do you think the odds are that one of those prospects will buy or rent a place from you? The odds are greatly in your favor if you own anything in Arizona. I have people who ask me every day, when should we buy? Should we focus on foreclosures? The answer is yes and no and maybe. Waiting to see what rates are going to do prior to buying may cause you to miss the opportunity to land your dream house, there is no way that I am aware of anyone being able to see the future, however, rates are at historical lows and home choices are at historical highs, what if you wait to long and demand has returned, now that house the owner was willing to liquidate and deal on is either gone or under contract. Foreclosures are adding to the bloated inventory that needs to be absorbed but they will be, but remember not all foreclosures are good deals, trust me on this. 

What keeps a market moving is growth, both by jobs and by urban sprawl and demand. There is money out there, allot of it going around despite the sub prime and credit mess. I  know some people who deal in only exclusivlely cash clients and they and others will buy no matter what the price is, if they want it bad enough so keep a positive attitude and keep your house in order, you never know when someone is going walk in and pay your price to sell.