Hey guys, Kelly Cook here with the Kelly Cook Real Estate Group, your Phoenix short sale specialist. You can find us online at www.KellyCookHomes.com. We are part of the Keller Williams Realty network which is one of the largest real estate companies in the entire country. We specialize in helping homeowners find alternatives to foreclosure through the means of a short sale and also the disposition of marketing of properties for clients. Today we are addressing a question that is probably one of the hottest questions out there that we could find. It is from homeowners wondering if the current Phoenix market continues its appreciation it's had so far in 2012 through the rest of the year and into 2013. That's a good question and it's hard to speculate but we have to look at the facts. The facts are in the first two quarters in 2012, the market here has appreciated right around 15.1%. This is great news. The downside to that is that if the market continues in this aggressive appreciation, hyperinflation will start to naturally set in. I do know that a market can't sustain that type of appreciation for too much longer. So I do think you are going to see because of the Presidential election and because of the national slow down during the holidays, you are going to see a little pull back on the market I believe and some more stabilization occurring. Also we have a lot of investors in the market right now. If those prices keep going higher and higher, then the return for the investors will get lower and lower. So eventually that money will end up leaving the market as well. This is also one of the underlying factors that really build upon and supports appreciation of the housing market is the unemployment rate. Right now the unemployment rate is still fairly high and doesn't really support the kind of appreciation we are seeing so far.
Last but not least, I’m going to leave it at this, there are still a lot of people out there that are not paying their mortgages that the banks are not foreclosing on for whatever reason right now. Eventually they are going to have to so whether they are waiting until 2013 to really enforce the foreclosures on those people who are not paying, remains to be seen. That is another contributing factor to the reason why I believe based upon everything I read, the market could have a little pull back in 2013.
Again, I'm Kelly Cook with the Kelly Cook Real Estate Group, your Phoenix short sale specialist and I'm here to help. So if you have any questions, feel free to give me a call at 480-442-9868 or email us at firstname.lastname@example.org. You can also find out what your home is worth and assess it from there moving forward. It’s a great starting point, go to www.MyHomeValueCalculator.com and you'll get that information sent to you instantly. Thanks and we look forward to speaking with you soon.