Today's report from the NAR regarding the housing slump seems to fly in the face of real estate logic. The NAR is stating that it will probably be another year before we see the bottom of this housing slump. How can they forget the basic credo of real estate: location, location, location. Yes, some markets may have another year to go before reaching bottom. But here in the Phoenix and Scottsdale areas, and even Anthem we are seeing a tremendous uptick in activity. It's almost a return to the days of 2005 when it comes to the bank owned properties. REO's are getting multiple offers and getting into bidding wars within a day of coming on the market in certain areas. The investors have come back in full force. But this time, it's the savvy investors. And in any market, the savvy investors are usually 6 months to a year ahead of the general public. But the time the news hits, all the great deals will be gone.
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