I could go on and on with graphs and charts and whatever…but what I really want to say is “It’s TIME”. Of course ..last night …my crystal ball broke…but I think there are many reasons to jump into the market.
First, interest rates are UNPRESENDITED! Really! You may NEVER see these rates again in your lifetime. My clients are locking in 4.375% fixed-rate 30-year loans. When (not if) inflation picks up rates will climb. This means you will qualify for more home based on your income and debts than you will when rates rise. And they will rise. We just don’t know when. What we DO know is what they are now. AWESOME!
Second…inventory! Even thought there are literally bidding wars on the lower priced homes, there are plenty of homes on the market…and more coming on every day. If you happen to be in the 300K plus price range you will have a GREAT selection and if you are a luxury home buyer you are really in the drivers seat. We are seeing markets with as much as a 24 months inventory supply. Happy shopping to YOU!
Third…it’s yours. Do you like neon colored walls? Have at it. Want to remove a wall and make the master bedroom huge? Bring in the sledgehammers and create your master suite. As a renter you are very limited as to the changes you are allowed to make. If you are the owner…let the creative juices flow! (but try to refrain from attempting ALL the projects in one room like below!)
The bottom line is that this is the perfect storm for purchasing a primary residence or a vacation home in the Metro Phoenix area. Jump in!
If you are looking for a GREAT agent to help with your real estate need please give me a call at 602-504-3898 or 888-897-7821 x 114. Plus, 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! Go to Metro Phoenix Homes and check it out! YOU can create and save as many searches as you would like. It is THE BEST MOST ACCURATE SEARCH OF OUR LOCAL MLS!