It's a Great Time To Buy Real Estate here in Arizona!
1. Huge Inventory. Our MLS has about 57,000 resale homes on the market. Regardless of the price range, there are plenty of houses. Back when the resale inventory dropped below 5,000 units. Buyers were forced to make compromises and even pay a higher price than the list price. There is a great selection of everything from homes to condos. Property with land, property with views, etc, etc, etc.
2. No Bidding Wars. In 2005 our clients had to make offers multiple homes before getting an offer accepted due to the frenzy. Where did all those escalation clauses go? When our clients authorized us to outbid other offers by thousands of dollars. There is no competitive bidding in this buyer's market.
3. You can make an offer based on a reasonable comparable. Not a pie-in-the-sky offer in hopes of being the best offer on the table. Today the buyer can actually have some negotiating room.
4. A buyer can truly assess whether a property makes sense for them and take their time.
5. Due diligence is welcomed with no more seller's expectations of waiving the inspection contingencies.
6. There are plenty of specs available to buyer's wanting a new home build. There are quite a few incentives from the builders too. No more lotteries and waiting lists.
7. Seller's are willing to agree to repair requests as a result of the inspection. There are "as is" homes out there but it's advertised that way.
8. The number of investors has declined. Many of the non-owner occupied buyers caused the market to inflate and affordability to decline. Mortgage fraud was common place. It's a great time to buy without having to compete with hundreds of prospective landlords.
9. Location, location, location. There are affordable homes in all areas of all the cities and towns. Buyers don't have to have long commutes to find an affordable home. In this market, reasonably priced homes are within biking or walking distance to schools, transit lines, and relatives.
10. Real Financing is available. There are very good mortgage programs available. Fixed rates are back. FHA financing, first time homeowner bond programs, special loans for teachers, and police officers are available.
It's a great time to buy real estate here in the greater Phoenix area. If you know anyone that could use the services of a professional real estate team, please provide us with their information and we'll contact them. We take great care of our clients. We'd like your family, friends and associates to Experience The Moore Team Difference for all of their real estate needs. Visit us at http://www.tonymoore.com/ .
By the way... We are NEVER too busy for a referral from you!!!
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