Sunsets In Scottsdale Arizona
Scottsdale Golf Course Near Downtown Scottsdale
Arizona real estate is in the top 8 "best bargain" markets to be in 2012. The buying and selling season for 2012 is well under way and the housing market in Phoenix Arizona metro area is showing positive signs of life.
Realtors, sellers and buyers alike are sharing their stories of bidding wars in many markets. Buyers are indeed getting off the fence and ready to take advantage of still record low levels of affordability. Is now the right time to buy? In the Phoenix Arizona metro area, I would say yes!
Some people might still be a bit leary of investing in the real estate market, however, the Phoenix metro area would be an area that makes a lot of sense to buy whether you already live here or are relocating.
The criteria used to dtermine the Best Places To Buy In 2012 were given equal weight to several factors including:
- Housing prices compared to local incomes
- Home value trends (where home values have been stabilizing or rising over the past year and the past quarter)
- Unemployment rates over the past year whether buying makes more sense than renting
LOCATION: PHOENIX ARIZONA
Phoenix makes the list at number 2.
Median list price: $184,900
Phoenix Arizona is a poster child for the housing recession. Home values fell 54 percent since the peak of the market. Currently, the metro area is still working through high levels of foreclosure inventory. Foreclosure resales made up 28 percent of all sales in April. This is actually good news, because it signals that investors are coming in droves to buy up homes.
All of the investor activity is starting to boost home values. Phoenix AZ home values are up and there are forecasts for them to rise 6.5 percent this year. Phoenix AZ is a very good example of a hard hit market that is showing signs of recovery. In May 2012 there were 8,000 home sales and the inventory is down to maybe 3 months of available homes.
Don't wait and let this opportunity pass you by! Why are you paying rent when you could be buying a home? In some cases, your mortgage can be lower than the rent you maybe paying.
Contact Ruth Bassignan today and let's get you on your way to owning your very own home. I have a great team in place with Mark Taylor at Amerifirst Financial and First American Title to handle your escrow.
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