Report Calls Phoenix One of the Worst Places to Retire…NOT TRUE!

PHOENIX – The Phoenix metro is named one of the worst cities in the country to retire — and you can blame it on the housing market. (see video interview below)

The valley used to be the place to retire — at least part of the year, because of our wonderful weather.

But now, some financial experts say the Phoenix housing market seems too gloomy.

Everywhere you look across the valley, there’s another house up for sale, and realtor Bette Zerba says a lot of those sellers will lose money.

“For those people that were thinking that their home was their retirement, I feel for them, because prices have come down dramatically at least 30 percent at least in Sun City areas,” says Zerba.

It’s also the main reason why Phoenix has been named one of the worst places to retire in the country, according to the fiscal times.

The other four places include: Las Vegas, Nevada, and Clark County in general; Davenport, Florida; and the Laguna Woods Village in Orange County, California.

A leading valley real estate professor says he doesn’t see the valley turning around for many years down the line.

Zerba agrees, and says retirees looking to sell are vulnerable.

“Right now they’re in the same predicament as a lot of people in the Phoenix area. If they did purchase after 2004, 2005 they are upside down, there’s no question about it.”

However, there’s a silver living in all this.

“The bright side of the coin, for those who truly want to do some cherry picking and get incredible buys, now is the best time in the world.”

There are 916 active listings in Sun City, Bette Zerba, Re/Max Realtor  says