| Considering buying a house in Phoenix | | | | property. |
| Arizona? There may be no better time than the | | | | |
| present to make a permanent home in Arizona's | | | | Wealthy investors are taking great advantage |
| Valley of the Sun. | | | | of the situation in many parts of the |
| | | | country, adding greatly to their portfolios |
| Phoenix Arizona real estate values are in a | | | | by buying up these homes at bargain-basement |
| similar state of other areas in the country. | | | | prices from economically distressed, |
| By now, most people have realized that home | | | | hardworking families facing foreclosure due |
| values in many parts of the country have been | | | | to circumstances created by an irresponsible, |
| falling. Unfortunately, because of economic | | | | pro-corporate U.S. government. |
| machinations, irresponsible financial | | | | |
| behavior on the part of the current | | | | When it comes to the Phoenix area, there |
| Administration and federal economic policies | | | | indeed has been some dip in the value of |
| that for a generation have favored large, | | | | houses, however, due to a strong local |
| wealthy corporate interests and individuals | | | | economy and an large influx of new residents, |
| while actively seeking to hurt the average | | | | this dip has been far less dramatic than in |
| American worker, many homeowners were lured | | | | other parts of the U.S. The median home |
| into "adjustable rate mortgages," or ARMs. | | | | price, while somewhat lower than a year ago, |
| Aggressive and even predatory lending | | | | is still over $20,000 more than it was at the |
| practices by the mortgage industry has now | | | | height of the boom in 2005. Therefore, when |
| led to major problems as on one hand, people | | | | buying a Phoenix Arizona home or condo, you |
| own more on their homes that the homes are | | | | should do it with the intention of staying in |
| worth, and are now facing significantly | | | | that home for at least five years; looking at |
| increased payments as the fed raises interest | | | | such a purchase as a chance to "flip" the |
| rates. On the other hand, the inability of | | | | property for a quick profit would be a grave |
| those with mortgages to meet their payments | | | | financial mistake. |
| has caused many lenders to go under. This has | | | | |
| led to some unstability in regards to the | | | | On the other hand, when all issues are |
| value of Phoenix real estate listings. | | | | considered - such as the quality of life, the |
| | | | strength of the local economy and the many |
| In the great conservative tradition of the | | | | advantages of living in the Phoenix metro |
| past 27 years, the current Administration has | | | | area with all that it has to offer, purchase |
| eagerly come to the rescue of these lenders, | | | | of a Phoenix Arizona condo or home will most |
| while allowing average hard-working, | | | | likely prove to be an excellent long-term |
| tax-paying citizens to go under. The result: | | | | investment. While nobody can predict the |
| very motivated buyers in many parts of the | | | | future, all indications point to a thriving, |
| country, which can be a great benefit to the | | | | growing community in the Valley of the Sun in |
| the right individual considering Phoenix | | | | the coming decades. |