The new Arizona law goes into effect this week. The new law will require police officers to question people if there is reason to believe they are in the country illegally. Currently, Civil rights groups are challenging the new law in court, arguing that it allows police to use racial profiling to go after suspected illegal immigrants. At the same time, others groups support the law as an effort to reduce the impact of illegal immigration in America. The passions on both sides are running high.

Supporters of the law point out that the federal government has been ineffective in stemming the tide of immigrants entering the country. There are an estimated 460,000 undocumented aliens residing in Arizona. The fear is that these undocumented aliens have a negative affect on American jobs and wages. At the same time, while acknowledging that illegal immigration is an issue, civil rights groups are concerned that the tough new law is not the proper way to solve the problem. The great fear is that police officers will target Hispanics solely on their race. Many worry that citizens of Hispanic decent will get caught up in the wide net of racial profiling.

Supporters of the law point out that the law only codifies current practices of the Arizona police force: As a general rule, if a person is arrested for a crime, their immigration status is checked by immigration authorities and they are flagged for deportation if they are undocumented. However, many wonder why there would be a need for the passage of a new law if it has no affect on current practices. There is also the fear that the law will act for a shield for bad cops to engage in racist practices. In the back of the minds of many, the question remains, with the passage of this law are we one step removed from requiring Hispanics to wear a patch on their clothing to indicate whether they are lawfully in the country.

The Arizona real estate market has been one of the hottest real estate markets to invest in for the past two to three years. Initially, investors were seeking real estate in California when they stumbled upon the state of Arizona and saw the potential for growth. In recent years, this market has provided excellent returns for investors. Why? Because it is good for both investors that deal with single family homes and investors that deal with condominiums and apartment-style housing.

While Arizona’s real estate market continues to experience a 20%growth rate, this rate is significantly smaller than it has been in recent years. This is in partially due to the fact that rising interest rates are making it more difficult for families to afford home in the same way that they have been able to in the past. Once mortgage rates begin increasing, some families could lose their homes to foreclosures.

Right now, the Arizona real estate market is still very much in favor of sellers. As long as there is a positive growth rate, sellers will hold the reins on real estate prices, whether it is for condos or single family dwellings. Investors that intend to sell houses are best to do so within the next few months, while sellers still have a grip on the market. Once the tides turn and the market shifts to a buyers market, it will be difficult for current properties holders to experience any positive gains from the sale of a property.

As mortgage interest rates continue to rise, many people will not be able to afford to purchase homes. When this happens, unfortunately, many of these people will opt to rent a home rather than attempt to live outside their means in order to purchase a home. Investors owning property at this time can make their money by renting out their homes. Another option for investors interested in the housing market in Arizona is to wait for the growth rate in home prices to slow; then purchase a home. At this time, since the market will be more favorable for buyers, it will be easier to negotiate lower prices.