Arizona realtor desperation showed it's head again this week. I saw a billboard, brand new, that popped up on the fringes of downtown Calgary. It was trying to sell property in Arizona - specifically to Canadians tired of the cold and snow.
Elsewhere I have strongly cautioned Canadians about purchasing real estate in the southern United States right now, including Arizona. Property values are still sliding and realtors are deperate to unload what they have on their books. And things look to only get worse over the next few months.
Billboards such as this one (say another sign trying to fire sale properties in Costa Rica) are going to become increasingly common.
Don't be fooled by the ads and the hype - especially from the realtors. The slide in values is still going on. Investors should be extremely cautious and regular home buyers should think twice before jumping into anything. Any questions can be sent to author@tatinvestments.com.
Cheers,
Mike
Sunday, April 6, 2008
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