In today's Arizona Republic, Cathrine Reagor reports a few things of interest to home buyers and home sellers.
- New home building continues to slow.
- Condo sales are bucking the trend. Sales of existing condos are up about 8%.
- Short sales continue to rise.
Regarding number 1, good news for sellers of existing homes, they do not have to compete with builder inventories to sell their homes. This fortells a very clear signal to buyers that this is the time to buy a resale home in a convenient neighborhood with established schools, roads and shops. Wait too long and you will either have to pay higher prices or move to new subdivisions miles from work and amenities.
Rising condo sales predict the long awaited market turnaround. It will be slow, but is definitely coming now.
Actual short sales, unheard of 2 years ago, tell us the lenders are serious about helping those who are in trouble due to poor money management and poor lending practices. We see very few short sales and foreclosures in the adult communities. Few people in these communities made low or no down loans, fewer still bought beyond their means or treated their home equity as an ATM machine.
Jim Little, Your Sun City Realtor
http://jclittle.com/
Ken Meade Realty
17001 N Del Webb Blvd
Sun City AZ 85373
800-877-1776
623-977-1776
By the way...if you know someone who is interested in buying or selling real estate, please call me with their name and phone number. Thank you!
See my other blog at: http://suncityneighborhood.typepad.com/sun_city_neighborhood/
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