Real estate: Is now the time to rent or buy?

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PHOENIX -- The Arizona real estate market has been volatile with property values throughout the Valley taking a nose dive.

With interest rates at historic lows, is now the time to buy? And what is the rental market like?

Real estate agent Joe Scarp breaks it all down for Scott Pasmore.

Better Homes and Gardens Real Estate Phoenician Properties is located at 5111 N. Scottsdale Road, Suite 155, Scottsdale.