Victor’s Insider Scoop on Why It’s Not Too Soon to Get Into Arizona’s Land Market …
June 10th, 2008 | top of page
Looking back at the number of sales reported in my newsletter for the year to date shows there was a 48% drop off in commercial sales between a high of 27 in March and a low of 14 in April. Even with the understanding that my newsletter is not inclusive of all sales that are reported in a service like CoStar Comps it is interesting to note that sales over the past 3 months are trending back up. Although the number of land sales have remained relatively flat over the first six months, as a percentage of total sales, land sales doubled in June over the five previous months.
In light of the current malaise in the overall U.S. economy, rising oil prices, the uncertainty of the upcoming presidential election, and my general impression that we have not seen the last fallout from Wall Street’s and the banking/mortgage industry’s recent mistakes, there is no way to know if sales prices in Arizona (including SF homes) have bottomed and Arizona is returning to its historical growth trend. What is clear from the land sales reported on this month is that investors are still betting large dollar amounts on the profitability future development in Arizona.
So, as an investor, do you jump in now or remain on the sidelines hoping to Time the Bottom of the Market? Prudence garnered from my stockbroker tells me that it is impossible to time the bottom and a better plan is to use the concept of Cost Averaging and get in the market now but not with all of your funds. A better deal may come along and, if it does, you can be ready for it. But if one doesn’t come along then at least you will have made one acquisition at the bottom.
Dedicated To Multiplying Your Income
PS – If you are ready to begin to thrive again by getting off the sidelines and putting your money to work give me a call at 602-320-6200. I see lots of deals and may have just what you are looking for.