[Bump with updated list of newspapers.]

I was quoted today [October 7, 2007] in an Associated Press article on the Phoenix real estate market focusing on foreclosures in a particular subdivision in Queen Creek, The Villages at Queen Creek.

Talking about the boom times;

“I’m just one guy and it wasn’t unusual to get three (calls) a day” from speculators, says John Wake, a real estate agent. “A lot of them weren’t sophisticated. They’d never invested before.”

Of course, sophisticated real estate investors start out as unsophisticated real estate investors. Nevertheless, the huge number of calls at that time was nuts.

It went from the, “I might, kinda, maybe, wanna buy an investment property,” to the;

“I’m a real estate investor looking to create a team of highly motivated real estate professionals who aren’t afraid to work hard. I’ll need you to cut your commission and make a lot of lowball offers so I can buy at least 20% under market price and have instant equity.” I ask him home many investment homes he currently owns. “Well… none yet, but I plan to buy X homes this year alone. This is a great opportunity for you if you can make my team.”

ADDED: AP article also in;

  • Washington Post
  • The International Herald Tribune
  • FOXNews.com
  • Best of all, my mother-in-law says she saw my name in the Des Moines Register today. Now, that is worth something to me!


ADDED: This AP article has been appearing in newspapers for 3 weeks now. It first hit on October 6th and was picked up by other papers later on, hitting the two Arizona newspapers on October 27.