6 Oct. 17 - Nov. 6, 2009
Community
www.SanTanSun.com
Economic times from Page 1
In the very short term, James feels encouraged by what’s happening is diffi cult,
small increases in local home prices but watches the then focusing on a plan. Even
commercial market with increased unease. the simple act of saying out loud
“Commercial real estate is a bit odd because it what one wants to see happen
tends to lag in the economy, after residential real can help. Facing fears, setting
estate,” he says. “There’s a longer time period where goals and being proactive are
the development phase takes place.” essential to coping in the midst
In an effort to avoid foreclosure or bankruptcy, more of diffi cult times.
companies are approaching fi nancial institutions to “It comes down to staying
renegotiate their loans after fi nding their property positive to learn from what is
values down, the demand for commercial space taking place, so we don’t make
depressed, and rent prices often too low to cover the same mistakes twice,” Zahn
costs. Commercial real estate developers now fi nd Coping with devastating losses shares, “and making a game
themselves facing the same crisis that homeowners Putting the focus on those kinds of plan in achieving success while
have faced over the past year, states James, and positive, optimistic thoughts is essential to utilizing resources around us.”
commercial foreclosures are becoming increasingly not only coping, but moving ahead during
Submitted photo
common. diffi cult times, according to Brian Zahn,
Life coach Brian Zahn
Funding an
On the fl ip side, residential professional and certifi ed life coach, and uncertain future
real estate has shown some owner of A New View to a New You, LLC. One lesson James believes
positive signs recently. The “Staying proactive and sticking to our belief system consumers can learn from this recession is the
most recent Arizona State is very important in times of need,” says Zahn. “Never importance of having $5,000 to $10,000 in liquid
University-Repeat Sales giving up and being the key, the source, is what we savings to fall back on when the unexpected happens,
Index showed a 0.8 percent need in times of hardship.” because the unexpected will happen.
increase in average home If SanTan Sun area residents haven’t lost a job or “Where are we going to be in the future? That is
prices from May 2009 to June a home personally over the past year or two, they a total ‘who knows?’ type of question,” James says.
2009. The increase may not certainly know someone who has. Zahn believes many “I’d say in the next 12 months there’s going to be
seem signifi cant except that it
Tim James
important lessons can be learned from signifi cant improvement, eventually the unemployment statistics
follows 28 consecutive months fi nancial hardship, including the necessity of letting will turn around. But then what happens over the
of price decreases in the same index. go of our pride and ego, asking for help and then being very long term? Because I think the U.S. has created
“I believe there’s pent up demand,” says James willing to help others in return. for itself a huge structural defi cit that eventually
regarding the residential market. “People still want “All of this makes each of us a better person, someone’s going to have to pay for.”
to move to Arizona from places like Michigan. Once utilizing our love for ourselves and those around us,”
we start seeing a small increase in prices across he says. “The important thing is not to panic or feed
Natalie Morris is a freelance writer who lives in Cooper
the country, people will start selling their homes into negative energy, which is so easy to do.”
Commons with her husband, two sons and their dog, Bella.
Contact her at
Natalie@SanTanSun.com.
elsewhere and moving here again.” For those facing foreclosure, job loss or other serious
fi nancial stressors, Zahn suggests acknowledging that
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