Maybe housing is stabilizing????

Don’t think you will be getting rich any time soon. The housing market is teetering. All odds are against the recovery of a strong market, there is just to much uncertainty out in the economy. There is another wave of foreclosures coming, high unemployment and to much government control to allow credit to freely flow into the markets.

I am not sure the direction we need to go to stabilize the local market. The houses that are selling are distressed sales, foreclosures or short sales, not much good comparable fair value sales.

Tucson runs at least one year behind other national markets and seems to be still losing values. Our local economy is suffering and our state economy is broke. Arizona has so many economic issues currently that need to be resolved before our values can stabilize. At this time is it probably the best choice to stay put , appeal your taxes if they went up, don’t put more money into your house, and make the payments on time. This market will not be a sellers market for several years, and may NEVER return to the pre-market values. Accept the current values and move forward! If you have cash, a stable income, and a good job buy a house now, the pickings are good! It can be difficult to qualify, have good credit, be pre-approved. Don’t use all your cash reserves.