I receive calls and inquiries daily from people that are interested in the homes available for 50-75k! The way the media is reporting to folks outside of the state of Arizona regarding our housing crisis astounds me. Of course things are not good, that is stating the obvious, but the inquiries I receive are sometimes completed off base! Potential clients are looking for the Scottsdale luxury homes that are being sold for pennies!
The current Phoenix area housing market does have a huge inventory of homes, many at prices that have not been seen for years. Some banks are willing to negotiate prices even lower than listed on foreclosed properties. Programs for down payment assistance are available and sellers are offering to assist with closing costs and other incentives.
That being said, when it comes to the media proclamations, do your homework. Come on people, didn't your parents ever tell you if it sounds too good to be true.....it probably is!
