With access to information comes power. That is, if you know what to do with it. One of the most frequent questions we are asked about a property is, "how much did they pay for it?" It doesn't matter. We have no idea what the history of the sale is. Was it bought as distressed property from an anxious seller? Did the buyer pay top dollar because there were competing offers and they just HAD to have that home (or had been beat out on two or three before getting and accepted offer?). Even with a flip property, we can't tell if a coat of paint was slapped on the property or if every system was replaced by a master craftsman (though good marketing should make that apparent). Again, we can't tell what the circumstances of the purchase were.
The market is changing by the minute. While prices continue to fluctuate across the country, that trend is less dramatic here in Cochise County. Depending on which part of the county you are in you have may have seen everything from a modest decline in prices to a substantial increase. In an uncertain market like we have now, not even the experts know what is going to happen in the short term. The great thing about real estate is that history does tell us with certainty what is going to happen long term. Prices are going to go up.
The good news is that Sierra Vista('s housing market) remains in a much better position than other parts of country, with encouraging signs that consumers are ready to take advantage of low mortgage rates and other very favorable conditions for buying a new home. Most of those favorable conditions apply to all homes not only new homes.
Comments(4)