I thought I would recap the week, and share the (not so) highlights.
Federal Reserve Board leaves interest rates unchanged for the first time after 7 consecutive rate hikes
Ben Bernanke gives no indication of lowering rates
FED points towards raising interst rates
- The Senate does not approve Housing Stimulus package
- Stock Market down 355 points yesterday
- Oil hit $140/ barrel , oh wait, ..... make that $142/ barrel
- did I mention it was 114 degrees in Tempe,
- Consumer Confidence hits 28 year low
- New home sales declines largest on record
- Median home prices drop in all 25 metropolitan areas for 1st time, including deep drops in metro Phoenix
- one of the nations largest home builders , KB Homes posts steeper losses than expected
- only 109 degrees in Scottsdale
I may sound discouraged. NOT Discouraged at all
America is not going out of business. Opportunities abound. Housing prices are offering opportunites that we thought many home buyers would never have.
For the first, and arguably last time, new home buyers can buy a new home direct from builder inventory for less than the cost to build. This may never happen again.
Scottsdale, Fountain Hills, Peoria, Tempe offer a unique place to live at what is quickly becoming , dare I say, "affordable" place to live again.
I know my peers throughout the country are seeing the same thing.
It is easy to be negative. Don't listen to the water cooler talk. Be positive. Each day there is bad news, is one day closer to good news. I promise it will come. Agreeably, we all hope sooner than later.
Have a great weekend and don't listen to (the points above) and the news!
and please , if you are going to comment, Share your good news !! - we all have heard enough bad!
your very positive Scottsdale Real Estate broker / agent
James Wexler
I have a great blog post with ONLY good news - read "Can You Hear The Whispers?" - http://therealestatewhisperer.blogspot.com/