Where are We Now in the Correction? If I had a TV Show....

If I had a TV Show... tonight's news may go something like this...

Previously on "Arizona Real Estate Live!" (cue upbeat southwest music)...

Cut to: scenes of luxury vehicles passing scenic vistas in the hills of Scottsdale to a distant view of the impressive skyline of Phoenix.

Announcer: Since the turn of the millennium, Arizona has become America's destination of choice for those seeking new jobs, a leisure paradise or a big city with small city prices.

Insert "dollar signs" graphics- "then the price corrections began."

Cut to 'expert on the street' interview:  "Phoenix is a top five population city. We have all the major sporting attractions, an outstanding jobs market, beautiful weather and a happening night life. Naturally we're going to have all of the big city attractions and, at some point, people are going to have to pay the big city prices. We're not New York or Los Angeles yet but there's a supply and demand issue going on. At some point scarcity causes prices to rise. If you want to live in the big city- you'll eventually have to pay."

Insert "declining market" graphic.

Cut to 'other expert on the street' interview- with Joe Real Estate Agent: "I know the news loves to peddle the doom and gloom but I'm noticing that, price drops notwithstanding, there are areas of the valley that are on the move. In these areas prices have not only stabilized, but there are pockets of the valley they're already rising. One thing to know about the valley- we're among the first in the nation to go into recession... but we also tend to springboard out of it into phenomenal growth. Right now our investor activity is climbing."

Back to Newscaster: "...And that seems to be showing in the numbers. A report by Homevestors of America, places Phoenix in their top ten cities for investing... and for home sellers in certain valley zip codes have seen an increase in home values... Now stand-by for sports- where will preview tonight's games involving the Phoenix Suns, Arizona Diamondbacks and this weekend's NASCAE event at the Phoenix International Raceway.

Cut to Commercial.