CNN Money: Top 10 Turnaround Towns – Phoenix #2

After five years of a brutal post-bubble price correction, Phoenix is rising from the dead.
“We have jobs,” said Tanya Marchiol of Team Investments, a local real estate investing firm. “Not a lot of big markets like us that went through the bubble have so many jobs.”
The unemployment rate in the metro area fell to 7.7% in November, a 1.1 percentage point improvement from 2010 and better than the national rate of 8.2%.
Home sales have been picking up, thanks to rock-bottom foreclosure bargains. During the fourth quarter, homes sold 27% faster than they did during the same period in 2010, according to Realtor.com.
A four-bedroom, two-bath house in good condition is currently listed for under $80,000, a significant discount from the $200,000 or so it would have fetched during the 2006 peak, said Marchiol.

BY LES CHRISTIE @CNNMONEY – LAST UPDATED FEBRUARY 01 2012: 10:55 AM ET
CNN Money: Top 10 Turnaround Towns – Phoenix #2

AMY KOCH - REALTOR