Well it's that time again and always grateful to have made it through another year!
I hope all my fellow bloggers had a great holiday season and hopefully 2008 will be a better year for the real estate market.
I will try to find some time and gaze into my and other pundits crystal balls and who knows maybe I will go out on a limb and make a forecast for the Scottsdale luxury marketplace. I do know that prices have been coming down and continue to see downward pressure especially in areas where there is excessive inventory.
Properties that are not the "best and brightest" are seeing even more pressure to adjust as Days on Market accumulate and sellers languish.
Homes in Scottsdale, of which there are 1484 currently on the market, priced over $1mm at current absorption rates results in a 32 month inventory.
www.PremierAZHomes.com
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