Prime Areas Collapse

[sobmaz]

http://www.azcentral.com/business/realestate/articles/2009/10/11/20091011biz-vhv-main1011.html

Yes, this may be the Prime Areas in Phoenix but I believe we can extrapolate.

Phoenix is the least desirable major city (except for perhaps Vegas) in the West and within Phoenix there are Prime Areas and not so prime areas. Therefore the entire cycle is accelerated.

The least desirable markets are the last to rise and the first to collapse. Phoenix Real Estate took off in 2004 after only 2 to 3% increases for years. The less desirable areas collapsed in 2007, but during that time the prime areas hung on and actually went up in 2007 and were stable through 2008. Now in 2009 the “you know what” hit the fan.

Being that S.Cal is far more desirable the cycle is a few years delayed but the prime areas WILL come down to reality.

[sdrealtor]

No that it cant happen here but phoenix is much newer city housing stockwise and does not have as much stability among longtime owners in prime areas. Phoenix and SD are roughly the same size ut Phoenix currently has about 2.5 times as much inventory on the market. I wouldnt necessarily look as Phx as a harbinger for SD. There are probably better places to look.

[sdrealtor]

No that it cant happen here but phoenix is much newer city housing stockwise and does not have as much stability among longtime owners in prime areas. Phoenix and SD are roughly the same size ut Phoenix currently has about 2.5 times as much inventory on the market. I wouldnt necessarily look as Phx as a harbinger for SD. There are probably better places to look.

[sdrealtor]

No that it cant happen here but phoenix is much newer city housing stockwise and does not have as much stability among longtime owners in prime areas. Phoenix and SD are roughly the same size ut Phoenix currently has about 2.5 times as much inventory on the market. I wouldnt necessarily look as Phx as a harbinger for SD. There are probably better places to look.

[sdrealtor]

No that it cant happen here but phoenix is much newer city housing stockwise and does not have as much stability among longtime owners in prime areas. Phoenix and SD are roughly the same size ut Phoenix currently has about 2.5 times as much inventory on the market. I wouldnt necessarily look as Phx as a harbinger for SD. There are probably better places to look.

[sdrealtor]

No that it cant happen here but phoenix is much newer city housing stockwise and does not have as much stability among longtime owners in prime areas. Phoenix and SD are roughly the same size ut Phoenix currently has about 2.5 times as much inventory on the market. I wouldnt necessarily look as Phx as a harbinger for SD. There are probably better places to look.

[sobmaz]

85007, the zip referred to in the article is a historic area with 60 to 100 year old homes.

I am not trying to compare Phoenix to San Diego, I am trying to illustrate how you can’t fight the cycle that has occurred throughout time. Prime is the first to rise, last to fall.

My one and only point, the historic rythm of realestate is alive and well in Phoenix. This is meant only as a cautionary post for those who think that for San Diego “it is different this time”.

Other than the present cycle, (which by a long shot is not over) every cycle has always completed the rythm.

Perhpas “it is different this time” time will tell.

[sobmaz]

85007, the zip referred to in the article is a historic area with 60 to 100 year old homes.

I am not trying to compare Phoenix to San Diego, I am trying to illustrate how you can’t fight the cycle that has occurred throughout time. Prime is the first to rise, last to fall.

My one and only point, the historic rythm of realestate is alive and well in Phoenix. This is meant only as a cautionary post for those who think that for San Diego “it is different this time”.

Other than the present cycle, (which by a long shot is not over) every cycle has always completed the rythm.

Perhpas “it is different this time” time will tell.

[sobmaz]

85007, the zip referred to in the article is a historic area with 60 to 100 year old homes.

I am not trying to compare Phoenix to San Diego, I am trying to illustrate how you can’t fight the cycle that has occurred throughout time. Prime is the first to rise, last to fall.

My one and only point, the historic rythm of realestate is alive and well in Phoenix. This is meant only as a cautionary post for those who think that for San Diego “it is different this time”.

Other than the present cycle, (which by a long shot is not over) every cycle has always completed the rythm.

Perhpas “it is different this time” time will tell.

[sobmaz]

85007, the zip referred to in the article is a historic area with 60 to 100 year old homes.

I am not trying to compare Phoenix to San Diego, I am trying to illustrate how you can’t fight the cycle that has occurred throughout time. Prime is the first to rise, last to fall.

My one and only point, the historic rythm of realestate is alive and well in Phoenix. This is meant only as a cautionary post for those who think that for San Diego “it is different this time”.

Other than the present cycle, (which by a long shot is not over) every cycle has always completed the rythm.

Perhpas “it is different this time” time will tell.

[sobmaz]

85007, the zip referred to in the article is a historic area with 60 to 100 year old homes.

I am not trying to compare Phoenix to San Diego, I am trying to illustrate how you can’t fight the cycle that has occurred throughout time. Prime is the first to rise, last to fall.

My one and only point, the historic rythm of realestate is alive and well in Phoenix. This is meant only as a cautionary post for those who think that for San Diego “it is different this time”.

Other than the present cycle, (which by a long shot is not over) every cycle has always completed the rythm.

Perhpas “it is different this time” time will tell.

[sdrealtor]

not this time, not anytime

[sdrealtor]

not this time, not anytime

[sdrealtor]

not this time, not anytime

[sdrealtor]

not this time, not anytime

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