Investors are keeping a certain amount of velocity in the Phoenix housing market. In fact, depending on who you listen to, investors make up as much as half of all resale transactions on any given month of the last year or so.
So, if Bank of America is halting foreclosures, what happens now? Will the resale numbers drop by half?
I have come to a better understanding of the value of reading trends in the market place, any market place. If you can read the future, you are valuable to any organization, right? I profess that I have NO IDEA what is going on in this market. As this blog takes shape, I ask myself: What am I going to share with my readers? How about honesty? For starters, I don't know where this market is headed. I read all of the reports by industry leaders, I look at the numbers, I follow the news concerning lenders. Most importantly, I am in contact with real people who are looking to buy or sell homes in this market on a daily basis. I can tell you, nobody has a good idea of what happens next. Not even the really, really smart guys.
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