Well, we're about to put a wrap on 2011. Hi, I'm Gary Edelbrock, and 2012 is right around the corner. I've got Lee Amble here, to take one last look at 2011, and peek forward into the next year. 

I would like to thank Gary Edelbrock and Lynne LaMaster for giving me the opportunity to write for the Prescott eNews. I hope my contributions have been beneficial to all. Thanks again, Lee Amble.

I would like to make this as easy to understand as possible with no graphs or statistics. Many times they may have been as much as 20% off even when they have been provided by local, state & national boards. I have not been a big believer in statistics as they are only a history of records. I prefer to look into the future, which really means our futures. The past history will never change. This year has been a great year as compared to the previous year. Our local market seems to have stabilized in most areas with prices having inched up in the lower to mid price range - $75,000- $150,000.

The market price range from $150,000 - $250,000 has also reached the bottom in price (in most cases) and should be increasing somewhat in many areas.

Market price ranges from $250,000 - $400,000 has been alNmtan equal market, not up or down, which is good news.

The market price range from $500,000 - $1,000,000 still prorddes an ample inventory supply, so it's anyone's guess if it will remain the same or make some changes. I believe that too will stabilize somewhat.

A very large supply of land and lots is available. There are some very good values which, if building a home is in your future, it's a great time to secure a future home site now at the current prices. Interest rates throughout the year have been at historic lows and should continue in 2012 also because of the election year. Short sales, bank owned and various distressed sales have been lower than in the past years as bargain hunters and investors have purchased many of them for rental and/or resale. I'm sure you've noticed the posted legal Notices has reduced considerably for future foreclosures and/or distressed properties., which is a good sign.

CONCLUSION FOR 2011: In general, buyers, sellers, contractors, realtors and all related services have had a much better year than in the past, but many of those services continue to struggle. This struggle has been a long one of 7+ years. In my over 40 years in the building related field and selling real estate, this is definitely the first time I have seen it so bad for this long however, I do expect a brighter tomorrow for most of us! Have a wonderful holiday season!

BUYING A HOME IS EASY, DOING IT RIGHT IS THE KEY!

Lee Amble, Realtor, Consultant
National Realty of Prescott
Lee's cell: 928-533-4455
Jan's cell: 928-533-4488
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