Thanks as always for checking for us- even with the additional sales, it’s obvious April was a bust.

Sold – 5482 Properties Found

Still less than 2001

Sold – 4798 Properties Found

I wonder if we would cross 5K this month and we have 3 more hours to go. Thats 1K less than March. The worst April so far!

Meanwhile Actives are at 52533

People say growth is good, well ok.., seems it’s become a requirement for survival.

Arizona is lucky to have such a good economic outlook.

The “modern” constructed home is considered a 20 year home. By 20 years until major renovation and/or repairs are nessesary. Back in the 50’s most homes where considered 30 – 50 year homes.

I’m curious … where did you hear or read this?

I completely agree. Why is a crappy stucco box with the trim falling off worth more 10 years later than when it was new?

We are renting from a “Floplord” who couldn’t sell his spec home here in Tucson, for pennies on the dollar. I am planning on asking him to extend our lease. If he declines or wants to increase our rent, we can just move down the road to the next house.

We are socking away all the money we save each month (~$700 vs. buying the same house) for a hefty downpayment once things return to “normal”. If you can call it that…

There’s a lot of renters who are going to “laugh all the way to the bank,” and try not to cry for friends on the courthouse steps.

All the “retards” who were saying the world was round in 1491 probably took a lot of guff too.

I find myself being pressured into buying a house right now in Tucson. All of my friends think I’m crazy for renting a 1 bed apartment… but I think they need the head check.

I live by myself w/ a very minimalistic approach to material things. I want a “sustainable”, green or “net zero” home, not some 2200 sqft home stucco toothpick house. My reasoning is simple:

The “modern” constructed home is considered a 20 year home. By 20 years until major renovation and/or repairs are nessesary. Back in the 50′s most homes where considered 30 – 50 year homes. Why in the world would I get a 30 or 40 yr mortgage on a home that won’t last long enough to even see the day when its paid off.

Furthermore, I would need to furnish this McMansion. I make good money here in Tucson, about douple the median wage ($26K). I don’t know how the majority of people that make LESS than I do, afford to furnish these giant homes… Well I do they just borrow, spend and borrow more.

Utilities… I mean its dammed expensive to heat and cool these poorly built McMansions. I just don’t see the point in heating and cooling a 2200sqft space when its only me. (FYI – A 1000 sqft place in Tucson proper costs MORE than the McMansions on the outskirts…)

That aside; I’m just astonished that home prices are what they are. $220K for what? A peice of junk box that is 5ft away from some retard next door. Oh, Oh Where can I sign up for that incredible deal (sarcasm)? It just makes me crazy!

I’m sorry about the rant. None of my arguments make sense to my pals that repeat; “homes are always a good investment”, “if you keep renting, you have no equity!” “blah, Blah”. While some of them make sense, I just think these homes suck and are barely worth 1998 prices. Appparently… I’m the retard.

I loved this quote:

“We need to remove around 3,000 homes from the market to return to an even keel,” Randles said. “We are working our way through this surplus. By this time next year it will level out.”

Usually “working our way through” would imply some kind of inventory reduction, when in fact the inventory has been increasing by the week.

I guess it’s “all in the eye of the beholder.”

I can see the line of thinking:

More defaults = more REOs = more listings = greater choices for buyers = wonderful time to buy

So come on in, the water’s fine!

Tucson now ‘extreme’ buyer’s market
Number of homes for sale the highest in 12 years

http://tinyurl.com/3aonlr

“The Phoenix-area median house price of $265,470 continues to run above the U.S. figure”

Are they saying higher prices means that we’re less exposed to the bubble? Phoenix normally runs under the national median, so doesn’t that mean we have farther to fall? I’m not seeing the good news here, help anyone?

“March existing homes sales in the area increased over the January and February totals.”

Was the author expecting sales to be lower during the “spring selling season”? I really can’t believe they’d print this and treat it like it was unexpected. Maybe they should run a headline “The sun rises!”