Arizona Daily Sun's Late Market Report

202441 Resource 178435 178982 178982 1209424390001 1209436623719 Controlled Good News/Bad News in the Flagstaff Real Estate Market

Que from March Sales Report Misread

Flagstaff’s daily paper, the Arizona Daily Sun, kept up its pattern of reporting the real estate market three weeks late with yesterday’s front page story:  <a title="Flagstaff March Home Sales Report" href="http://www.azdailysun.com/articles/2008/04/27/news/20080427_front_page_26.txt" target="_blank">March Home Sales Lowest Since 1999</a>. More significantly, they missed the point. According to the Daily Sun, <a title="March 2008 Flagstaff Market Per Arizona Daily Sun" href="http://www.azdailysun.com/articles/2008/04/27/news/20080427_front_page_26.txt" target="_blank">“the good news in the Flagstaff real estate market is the homes that are selling are keeping their value.”</a>  Actually, that’s the bad news because that is what’s keeping homes from not selling – the prices are too high. I’m not saying we have to lose 20% of market value to get the volume of sales up, but I am saying that prices need to come down from where they are and have been. So, the really good news will be when the late news is that home prices are down and volume is up. In the same way that no one knew when we had hit the top in prices, we’ll not know when we’ve hit the bottom until it starts back up. When it does, would be buyers will have “missed” the bottom. Meanwhile, would be sellers are missing sales by being inflexible about pricing – but then, I guess that means they are not really “sellers.”P.S. Sales so far in April, as of noon, today, exceed the March sales. There have been 44 Flagstaff home sales. 9 application/xml false Flagstaff homes Flagstaff real estate Flagstaff real estate market Flagstaff real estate market report Arizona Daily Sun's Late Market Report Sunday, April 27, the Daily Sun Reports on March 2008 Sales http://www.azdailysun.com/articles/2008/04/27/news/20080427_front_page_26.txt Our Flagstaff Market Report for March Published April 3 on this blog http://blog.bestflagstaffhomes.com/public/item/200994 <a href=http://www.getsmileyface.com><img src=http://s150.photobucket.com/albums/s103/yourspacecooment/smiley/grin/grin56.bmp border=0> Good News</a> <a href=http://www.getsmileyface.com><img src=http://www.getsmileyface.com/sm/sad/1012.gif border=0> Bad News</a> Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; .NET CLR 1.1.4322; .NET CLR 2.0.50727; .NET CLR 3.0.04506.30; .NET CLR 3.0.04506.648) 127.0.0.1 127.0.0.1 aheitland 24.121.32.9 false true false false true 178975 false false true false false false true 178435 blog blogsite/BestFlagstaffHomes/web