Got-ta Get Out-ta This Place? Vacation or Move to AZ!

By
Real Estate Agent with HomeSmart Real Estate BR632450000

Do you feel some times that you just GOT-TA GET OUT-TA this place? Yes Summer is here and is time for VACATION certainly or move to the wide open spaces of Arizona.

 

With the densely packed American Cities the past year has shown a movement to the suburbs especially to Arizona a land of both wide open spaces and ranches but also the fifth largest city in the US, Phoenix. The Grand Canyon state is known for open spaces and sunshine so Arizona is a good place to go to when you where you are that you GOT-TA GET OUT-TA the place you are in know.

 

The Animals in 1965 sang, "WE'VE GOT-TA GET OUT OF THIS PLACE!"

The Animals were ahead of their time in 1965, when they sang "WE'VE GOT-TA GET OUT OF THIS PLACE!....if its the last thing we ever do, we've gotta find a better life for me and you!"

 

One would think Americans would think of moving away from apartment buildings with close proximity and no backyards and get out into the suburbs and more rural areas with more social distancing.

COVID19 Suburbs

Moving from Apartments to Suburbs

 

This factor along with the increasing prominence of work at home opportunities offered by employers made easier by home based work from home phone and computer capabilities increases this capability in becoming more and more realistic in the months and years ahead resulting in less and less need for working in the inner city core.

 

This increased demand for residential suburban homes in the Phoenix Arizona metro area is causing a shortage of homes for sale and setting the all time average price for a home to $315,000 in August 2020 per the Arizona Republic.

 

Amazon and other remote delivery services for groceries and food make all of this rural living more and more possible.

 

This all points to more home ownership in less densely packed areas of America.

 

home ownership increase

Home Ownership is likely to go up due to COVID19 and related factors

 

Not only did COVID19 lockdown restrictions create pent up demand to get out confined spaces but the internal drive and desire to own one's home increase combined with the economic factors of continuing near record low mortgage rates mean people want a new place to live.

 

In an article published in the Scottsdale Area Association of Realtors through Forbes contributor Dima Williams on May 18, 2020 further explores additional economic reasons for home ownership, "As they lose their jobs and rent turns unaffordable due to the pandemic, some tenants – especially those living in expensive cities – are moving in with friends or back with their parents – and, effectively, reducing the number of renter households.

 

At the same time, however, some Americans, including renters, are collecting more from state unemployment benefits as well as supplemental federal insurance (amounting to $600 a week) than what they had earned working. With few options to spend those extra funds (as a slate of businesses around the country have been shuttered for over a month), many have chosen to preserve them.

 

According to data site Statista, the rate of personal savings – or the ratio between savings and disposal income – in the U.S. jumped to 13.1% in March, compared to a previous high of 8.8% in December of 2018. In some cases, those savings are morphing into down payments, further growing buyers’ demand amid mortgage rates that are under 3.5% for a 30-year conventional loan (and expected to fall further).

 

Nonetheless, there are obstacles and unknowns that remain for home shoppers. Lenders have tightened their mortgage origination requirements – both credit scores and down payments – shunning some buyers from the housing market. Moreover, nervousness continues to shroud the country’s jobless claims and unemployment rate, even though both figures have recently slowed down in their growth as the national economy attempts a reopening. “So, what we’re likely to see, as far as the homeownership rate is concerned, is a bit like a cursive ‘V,’” says McLaughlin. “We will see an initial increase in the ownership rates, probably a flattening or maybe even a slight drop, followed by a more persistent increase in homeownership rate over the next five years.”

 

So whatever your reason whether you feel like you have to "GET OUT-TA THIS PLACE!" or the economic factors are so strong it may be time to move to the wide open sunny spaces of Arizona one of the first states to "Re-Open".

 

Arizona, the Grand Canyon State is the home of wide open spaces & sunshine 

Arizona Welcomes YouWhen you are ready to get back into the world and sell or buy a home, give me a call.

 

Scottsdale and Phoenix Metro Area Living 

Jeff Masich REALTOR® describes Scottsdale area living and real estate

 

Looking for something else? Here are more Scottsdale homes and/or land for sale:

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All homes for sale in Scottsdale 

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Scottsdale ranches and horse properties for sale

Scottsdale homes with a guest house or casita for sale 

Scottsdale waterfront homes for sale   

Scottsdale homes with city light views

MLS Search for homes for sale in Scottsdale

 

Meet Jeff Masich, Scottsdale REALTOR® 

 

For more Scottsdale homes or Arizona Homes and Land for sale just ask Jeff Masich 

  

Buy a home in Phoenix or Scottsdale or in other great cities in Arizona

To learn more about Scottsdale living and to see homes for sale: Scottsdale and Homes For Sale or Arizona Homes For Sale.  

 

Here is a FREE MLS Search for homes for sale in Arizona. I, Jeff Masich would be pleased to help you find Arizona Homes For Sale and the right home at the right price!

Free MLS Search Arizona

             Press FREE MLS Search to search for Arizona Homes and Land

Posted by

Jeffrey Masich, Associate Broker, REALTOR®, MBA, GRI, BS Accounting

HomeSmart

Scottsdale, Arizona

JeffMasich@ArizonaHomesLand.com

http://ArizonaHomesLand.com

480-242-6500

 

 

Comments (4)

Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Loved your post and wow I remember the Animals.... I guess I am showing my age:)) now with that said yes how timely is it to today's life? Endre

Jul 12, 2021 10:45 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Yes Endre Barath, Jr. the Animals lyrics, "we gotta get out of this place, if it the last thing we ever do, theres gotta be a better place for me and you" Jeff 😎

Jul 12, 2021 10:56 PM
Bill Salvatore - YVP Blog
Arizona Elite Properties - Chandler, AZ
Realtor - Valley of the Sun / golfArizona@cox.net

Always loved this song and the Animals.  And yes, Covid has rejouvinated the Suburbs. Enjoy your Tuesday and dont forget about the tacos.  Bill Salvatore 

Jul 13, 2021 05:10 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Tuesday morning, Jeff.

Take care, be safe and have a great day.

Jul 13, 2021 07:11 AM