So here are the latest residential facts for homes in Cottonwood, AZ ...
Cottonwood
Homes Land (Specifically the Foothills)
Average Price dropped by 5 % - Now $241,000 Average Price that has sold - Now $322,000
1 year Absorption Rate 12 Year Absorption Rate
Solds dropped from 130 to 118 Solds dropped from 3 to 2
ANALYSIS - For Buyers and Sellers in the Verde Valley
For Buyers
The Verde Valley Marketplace is still seeing a buyer's market in both the residential and vacant land markets. . If you are a first time home buyer, thinking of going into an investment property, or moving up in your home don't wait too long. This is the time! There are many properties to choose from, and there are solid loan programs available. Now, Yes... NOW would be a great time to buy! The Land market is a very, very solid Buyer's market. If you are a small builder, or looking for a great investment to buy and hold this would be a great avenue. If you would like to talk with me further about how I can help you accomplish your buying goals please give me a call at 928-301-0669.
For Sellers
The Cottonwood Residential market iwas one of the strongest markets in 2007.Still...it's about PRICING A PROPERTY TO SELL! If you are a Seller who has good amounts of equity in your property price it to sell...price it at fair market value, and please Don't OVERPRICE it.
The Vacant Land markets continue to be hit the hardest. And who knows where the bottom of this market will be? Be Pro-Active. Price it ahead of your competition! Sell it! Because there is no guarantee it will be worth next year what it's worth today!
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