investing 101 for real estate buying here in Phoenix

There are several challenges we still face:

• Large inventory/supply - almost 11 months average across the country
• rising interest rates - FED indicated rate cuts are over
• High energy and food costs - oil at $142/barrel - $4.25/ gallon at the pump
• tighter access to credit - the inability/difficulty to refinance debt

if you are a longer-term investors, home buyer or 1st-time new home buyers , follow the long-standing advice of investing 101 for real estate buying here in Phoenix.

1. Capital preservation - make sure you can afford the home; make sure you have 20% for a down payment on your mortgage
2. Debt reduction - pay off credit cards and other debt before you add more
3. Financial intelligence - research, talk to real estate agents, and make sure you exercise prudence. There is no last opportunity to buy a home. Make sure it is not putting you at more financial risk than you can afford.