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We hit bottom in the housing market good question.
Well let's ask.
A recent report says from zillow dot com shows the first increase in home prices in nearly five -- not much of an increase but an increase.
And hard hit markets like Phoenix they jumping really jumping up 12%.
In the second quarter compared to last year.
No one knows the Phoenix market better than Tonya -- -- all team investments and -- joins us now.
12% backs is a very nice rebound is that accurate.
That is accurate and you are the first to bring Phoenix to back.
Your viewers so congratulations -- Well we will be bringing bond in this in feelings throughout viewers and evidence that it was -- -- -- off.
Com Friday morning though that the number of properties for sale in Phoenix is way down.
And given strong demand that's what's raise the price is that it.
That's exactly right and even though we keep talking about the supply issue across the United States.
There are a kind of homes for sale right now there are -- ton of good deals out there do not let this whole there's no homes on the market.
Scare you from getting into real estate right now when we are on a small upswing -- every.
Yes selling that he had picked -- -- selling your product -- understand these things he made a lot of money in the last you know got that took but here's the story.
People say look.
There's a whole millions.
Of full closures that are about to come onto the market which will boost the supply and -- depress the price.
What do you say to that argument.
Here's what I say yes we have three million homes that are coming to this market for sure.
The bottom line is the banks have gotten Smart.
The -- got bailed out.
And now they have and cut and a profitable again and now they have the ability to hold that product and -- it out so that they don't -- this market.
That product -- to hit the market by all means I wish they would put it on the market.
Let it I'll go let free enterprise take over we would snap -- out and this would be -- but they're going to drag this out with smog gains for quite some time.
OK I know you know the Phoenix market primarily but just for a second step out of the Phoenix -- and look across the country.
Do you would you be prepared to tell investors real estate investors would you -- On national basis that we have hit bottom.
Now I absolutely would not and I think that's why it is so important to know where you're buying and what your -- As they real estate investor you have to know when to buy.
When -- sell when to be a lender and -- to be a borrower and in this volatile market you have to know that well.
Have you made money in the last year.
Yes and so on my investors.
What percentage and you made.
Well we're up 12% in Arizona's that depends on and when you buy it and that you know these are mostly buy and hold.
It's not a situation where we're flipping homes right now.
That is not the plate this is -- by eight.
Make your cash flow monthly whole -- long term and make that profit in and remember you always make your money on the buy -- only collected on the south.
I understand that but are you going to push the capital gain into next year ago when the capital gain rates may go way up or are gonna take your profits this year when you can -- in 15%.
Absolutely not this is a long term play.
Hold on to that real estate even if we -- a little bit on the bottom this is not a one year play this is up five to ten year play.
You very honest HoneyMonkey -- appreciate -- Thank you very much for joining us John and good luck -- say I don't.
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