Real Estate – Is it a Buyer’s Market?
If you follow the national news, real estate is a buyer’s market. But in the Scottsdale/Phoenix area, over the past several months, new trends are emerging. Scottsdale-area housing market is turning because of shrinking inventory. There are less distressed sales, and those that are desirable are under contract in a flash. Record sales were recorded in March and April (exceeding sales from the height of the market in 2005 – 2006).
While there are still distressed sales appearing, you’ll need to prepare yourself in advance so you understand our local market because to take advantage of a great deal you’re going to have to move on the transaction to beat out your competition. When we look at the property statistics they show us that we have move into a seller’s market once again, however, prices are still attractive and interest rates are still the lowest we have had in decades.
With our low interest rates today, higher demand for properties, and lower inventory, I anticipate property price increases as early the fourth quarter 2011.
Are there good buys to be had today? The short answer is yes, and if you want to look at foreclosures, short sales or distressed properties be prepared to be nimble and act quickly or you’ll miss the opportunity. Whether you are thinking of buying or selling your home our team can help you make it happen. You’ll be working with a team of people that have both formal education and the specialized industry training to give you REALTORS® that work in the realm of excellence.
If you’re just interested in keeping up to date on the local real estate market, our monthly newsletter has relevant information you can use. You can review our e-Newsletter for October 2011 right here and of course if you like what you see you can sign up for our monthly newsletter so it comes right to your desktop or iPad by way of email. The market is dynamic so don’t’ miss out on the current events. Keep in mind that real estate is local. The market here in the Valley of the Sun is dramatically different than Michigan or other parts of the country.
If you would like to contact us directly with any questions about real estate in a neighborhood you are interested in, please feel free to call us at 480-595-6412, or email us. If you want to know more about us, Meet Our Team. For more general information, please visit LuxuryValleyHomes.com anytime!
We look forward to earning your business!