HOME PRICES ARE SOON TO RISE... According the the National Association of REALTORS, we are going to see an increase in pricing of approximately 2%. I am seeing this happening before my very eyes when submitting contracts from my clients on properties for sale here in Arizona. I am seeing multiple contracts on properties that can close within 45 days or less. Perhaps the multiple offers and upward bidding is due to the fact that Buyers are still trying to close a deal before the $8000 tax credit goes away. what ever the reason - prices are not standing still.
This reminds me of where we were in 2006 - when we had multiple contracts on homes which drove the pricing beyond belief. However today, multiple bids are bringing the pricing up to where they should have, would have, and could have been before for the delirium.
If you are an investor, THIS IS the time to buy while prices and interest rates are still low . This is time to be like the Squirrel just before the snow falls - stock pile your inventory because these prices won't be seen again for a long time.
Call me today if you are looking to purchase or sell a home in the Phoenix Metro area.
Cynthia Smitherman, CDPE, ABR, GRI, DB, VP-AAREB
Emage` Fine Properties, LLC
602 697-4487
Comments(1)