Forbes July 10, 2008 edition is out. Once again Phoenix, Arizona makes the list of cities in the United States most suitable for investment.

Though Forbes recognizes the issues facing the city, such as lending related hardships- they still find much to like in the area.

I couldn't agree more; there are distresses in the market but there are also bright spots.

Notably areas closer to the heart of the metroplex are the new target for housing. The areas on the fringe of the valley, with their low prices are still seeing growth but gas prices have made the areas near the down town more desirable.

Many of the bank owned properties are receiving multiple offers- particularly in Tempe and Scottsdale where prices are swinging upward in many neighborhoods.

First time investors would be well advised to seek guidance from experienced investors. Among the landmines in the valley are these elements: devaluation in areas that are overbuilt, above average rates of foreclosure, softness in economic sector typical in the rest of the nation.

Even so, population growth levels many of the negative. Some investors see the devaluation as a blessing in disguise. Those who missed out on the opportunities several years ago now see their chance to invest again while prices are suppressed.

Remember- the height of the doom and gloom brings the lowest prices. It's anyones guess where that point is. It's Forbes guess that the opportunities exist.

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Chuck Willman is the founder of USAvest... a nationwide network of investors specializing in real estate. He makes his home in the Phoenix, Arizona metro area.

www.AZvest.com - 480.292.0600