And the Good News Is...

November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Green Valley, AZ

Latitude: 31.855617 -- Longitude: -111.000077

Other Area Cities: Green Valley Sahuarita

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Green Valley is located at 31°51'20?N, 111°0'0?W (31.855617, -111.000077)GR1. According to the United States Census Bureau, the CDP has a total area of 68.0 km² (26.3 mi²). 68.0 km² (26.2 mi²) of it is land and 0.1 km² (0.04 mi²) of it (0.08%) is water. Green Valley is twenty miles south of Tucson and 40 miles north of Nogales, Sonora, Mexico. Surrounded by copper mines, and near the hiking and birding areas of the Santa Rita Mountains, Green Valley is now an unincorporated retirement community. In 2005 Green Valley was the host of the SAE mini Baja100 competition. Mini Baja are custom VTT made by students, in this case there were about 60 teams from various universities, including some from Canada. ETS- Ecole de technologie Superieure, from Montreal, Canada, won the competition. -- Source: Wikipedia.com

Arizona 2000 Census Population Profile Map

	Green Valley	Arizona	United States
Population	17,283	5,130,632	281,421,906
Median age	72.2	34.2	35.3
Median age for Male	72.6	32.9	34
Median age for Female	71.8	35.5	36.5
Households	9,995	1,901,327	105,480,101
Household population	17,075	5,020,782	273,643,273
Average household size	1.71	2.64	2.59
Families	6,294	1,287,367	71,787,347
Average family size	2.07	3.18	3.14
Housing units	13,263	2,189,189	115,904,641
Occupied units	9,995	1,901,327	105,480,101
Vacant units	3,268	287,862	10,424,540

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