Excerpt from: Scottsdale real estate and news
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| October 13, 2008 | | September sales of condos in Scottsdale improve the already good situation for buyers. |
Lately we have heard the price correction in housing may be and probably is in "over correction". When you can buy a house or condo for a price not seen since 2000 or in many cases since the mid 90's then there has to be an opportunity there, more so when many of these can be purchased with a cash flow positive position as an investment: that makes it a good deal for buyers and investor. 
Sales of condos in Scottsdale were jumpy put steady until pieces of homes dropped dramatically. This added more competition in specific price ranges and people who once could only afford a condo or town-house could not buy a house, and many did. This pushed sales of condos down. In Septemer 2008, 95 condos sold: that is a very low number. 
The median price increased over last month to $225,000 despite the lower sales, but is at a very low point. As we head into the very popular vacation season in Greater Phoenix we may see an increase in sales and hopefully in the median price: pushed up by the visitors from cooler climates who often choose a condo or townhouse consciously because of its lower maintenance needs. | | | |
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