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Can You Predict the Direction of the Real Estate Market
So can you predict the direction of the real esate market in your community?  Michael Orr, who produces the Cromford Real Estate Report for Maricopa and Pinal Counties in Arizona, has a tool that can be used for a strong sense of which direction the real estate market will move over the next 30-60 days.  When pricing a home for a seller this can be an extremely useful tool.  I use this tool a lot in South Scottsdale when it comes to helping the seller price their home for sale, as well as a buyer in determining the best price to offer.
The tool is the  "pending listings" weekly report.  This tool has been developed for all of the cities included in the greater Phoenix area including South Scottsdale.  As you will see in the video the correlation between the different years shows a large degree of conformity.

If you would like to see how your city is performing give Jim Miner a call at 602-345-0433.  To not use this tool when pricing one's home is to make a decision based on emotion and not empirical evidence.  At the same time, this information can be very useful to a home buyer.
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