The current Phoenix home market, in some areas, is experiencing a new trend. Often times agents are finding many of the lower priced homes that are in good condition will receive bids very quickly after being listed. And many times these homes end up selling for more than the listed price. For some homes, in some areas of Phoenix, bidding wars are happening.
Investors are swooping into the Phoenix valley and are buying several homes at a time, which is making it more difficult for the individual home buyer who looking to simply buy a good home at a good price for their family to live in.
We have had some cases where a buyer ends up having to make offers on several homes before they can get the nod of an accepted offer. Each time their offers have been beat out by other offers, above listed price.
Interested in reading more about this Phoenix Arizona market trend and what was reported in the New York Times - check this link.