The market continues to adjust to our changing economy. There are many factors to consider that provide unique opportunities for homebuyers and investors. If you are looking to take advantage of the buying opportunities, there is no time like the present.
Here are 5 Reasons why Now is a great time to Buy Real Estate in Goodyear.
Lower Interest Rates
Interest rates still remain at near-record lows, especially compared to the 1980's rates and rates during of the real estate boom. Lower rates simply mean lower mortgage payments for those who buy in today's market. Lenders want to earn your business. Of course, lending standards are tighter now than they were a few years ago, but that means that lenders today are even more eager to work with buyers with good credit. So, lock in your low rate today! For existing owners, you can move up to a bigger and better home with little or no change in your monthly payment.
Competitive Home Prices
Today's market shows a high level of inventory and many homebuilders as well as Banks are facing a surplus of inventory homes. Take Goodyear for instance, today there are over 250 Affordable Real Estate listings and over 400 Nearly New Homes for sale. During the boom, in many areas, prices reach levels that the average buyer was unable or unwilling to pay, and home values began to drop. As everyone adjusts to the current market conditions and builders compete for remaining buyers, these prices are returning to normal levels.
Increasing Rent
Renters are faced with the realization of more competition as more people move out of their homes and more potential homebuyers decide to wait. As the overhead costs of utilities, daily maintenance and repairs continue to cut into the profits, property owners, rental agencies and apartment complexes must increase their rent rates to stay afloat.
Increasing Down-Payment Requirements
On January 1st, 2009, the minimum down payment will probably jump from 3% to 3.5%. A half of a percentage point may not seem like much, but on a $200,000.00 dollar home, this change can cost an average of $1,000 more to the down payment on a new home.
Great Home Selection
Today, many communities are filled with spec homes, models and a wide range of homes, offering new home buyers a great opportunity to find the perfect home. As a result of the market growth and decline, there is an incredible selection of homes available. New developments continue to come to the area and as homes continue to come available in these growth areas. Spectacular designs, innovative floor plans, breath taking features help many builders differentiate themselves from the market. There is home for even the pickiest of buyers. To see today's available inventory in Goodyear visit http://www.RealEstateGoodyear.com for all of Maricopa County visit http://www.RodneyBarnes1.com
"My Priorities Are Simple...They're Yours!"
Rodney Barnes, ABR,GRI
U.S. Marine Corps Veteran
KELLER WILLIAMS Realty Professional Partners
Direct: 623-217-7548
E-Fax: 480-393-4896
Email: RodneyBarnes1@cox.net
Web: www.RodneyBarnes1.com
Web: www.RealEstateGoodyear.com
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