Arizona Real Estate Notebook

Nice 2011 outlook interview with real estate economist (with a new home slant) John Burns from Lansner on Real Estate in Orange County.

My Favorite Quotes

• I think prices along the coast will fall
• The good news is that we will have solid job growth, which will bring back some demand to the market
• My bet is… mortgage qualification will tighten
• The right way to look at most neighborhood home values is to assume we will bottom at values that were achieved in 2003
• We are concerned that the pool of renters who can come up with a down payment and qualify for a mortgage is very low
• … the government is likely to raise down payment requirements while mortgage rates rise
• … the government intervention is likely to end with rapidly rising mortgage rates, probably after 2011