Short Sales and Foreclosures

OK, what's going on with the market? Over the last few weeks I've noticed an increase in the number of homes selling here in Phoenix, Arizona. Does this signal the Phoenix market is changing or just a spring sale blitz?

I think the market is on it's way to making a come back. When homes in Surprise and Maricopa sell in a few weeks (sometimes days) this means either the buyers are finally coming back or the home prices are finally catching up with the market.

I've had buyers in the Surprise area looking for a single story home, 4 bedrooms, 3 baths and under $260,000. A couple of months ago this would have been easy but now the homes are receiving 2 and 3 offers over a weekend. Most of these homes are forclosures so the bank will look at all offers over a few days and make a decision which one to go with. I've been on both sides of the decision so I'm telling my buyers it's time to get real with their home purchase. As a buyers agent, I want to make sure my buyers in get in while the prices are low so they can see the greatest equity gains over the next couple of years.

Right now buyers need to start thinking, is this the bottom? Should I be out looking for a home right now? And most important, if I wait until the print media starts talking about this will I be to late?