I have many folks who are “on the fence” right now and can not seem to make the decision to move forward and purchase a home. I understand why! The market has been so different than anything we have ever experienced…no one knows exactly what to think.
But here are a few reasons why it’s a GREAT time to buy…especially here in the Phoenix, AZ market. The Valley of the Sun includes Phoenix, Scottsdale, Glendale, Peoria, Mesa, Tempe, Chandler and Paradise Valley…just to name a few. And there are deals to be found in all of these markets.
Reason One~~~ RATES! Money has not been this affordable in most folks home buying life! You can get fixed rate loans under 5%…that is just CRAZY!
Reason Two~~~ INVENTORY! We have A LOT of choices for home buyers. Inventory is remaining high and the general feeling is that we will continue to have new homes coming on to the market for sometime.
Reason Three~~~Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines…again. Now that appraisers have more flexibility to set values that reflect the current market, today’s deals will make it over the finish line.
Reason Four~~~Short sales just may be getting easier to close. The newly introduced HAFA program has many servicers actually processing short sales in a reasonable amount of time! Why short sales? Often they are still occupied and are better condition than competing foreclosure properties. The Phoenix, AZ real estate market is settling in to this “new normal”…more short sales and foreclosures than “regular” sales.
Reason Five~~~HUGE need for single family rentals! If you are considering investing…now is the time! With all folks being displaced due to losing their home…there is a GREAT opportunity for investors to get into our market. Many people can not live in apartments as they have pets and/or a need for a 3 car garage or RV parking. With rates so low…even investor rates are low…positive cash flow is attractive.
So…let me help you get off the fence. You can call me at 602-504-3898…or I have a GREAT search tool on my web site that gives you the ability to search the entire MLS…just like agents do. Very COOL! ;) Just go to www.adelecoffman.com and check it out if you would like! If you save even one home as a favorite, you will be prompted to enter contact information. If you do this…YOU can create and save as many searches as you would like. It is THE BEST MOST ACCURATE SEARCH OF OUR LOCAL MLS!!