The Current Real Estate Market in Scottsdale and Phoenix

The recent economic crisis has created a topsy turvy investment market for potential homeowners.  In the beginning of the crisis, home prices fell to new lows, but buyers were largely scared off by rising unemployment rates and the near collapse of the mortgage industry.  Thankfully, the economy as a whole is back on the upswing, which has created a much more favorable market for real estate.  Homeowners are seeing increases in income and job security, yet home prices are still below average.  Scottsdale real estate is still a great investment and the market is still in favor of buyers for now.

Make no mistake; the real estate market is quickly shifting.  Foreclosure rates are plummeting and people are finding that it is much easier to purchase a home at an affordable rate.  Great terms from lenders and the availability of foreclosure and lender owned homes are making it possible for buyers to get excellent deals.  The number of Scottsdale homes for sale is decreasing quickly, which means that the market will soon work in a balanced manner once more, if not favoring the seller altogether.

If you are in the market for Phoenix, Arizona homes, then now is certainly the time to buy.  There are a number of excellent houses on the market ranging from luxury properties to condos and more.  These properties are ideal for people looking to live in the area as well as investors looking to rent or simply to build equity.  You can easily search for Phoenix, Arizona housing that is in foreclosure or short sale proceedings and will find that there are still some excellent deals available.  These deals aren’t expected to last much longer, however, and the market conditions are improving almost daily.  Right now is certainly the best time to buy Phoenix real estate.

There are plenty of wonderful homes on the market right now that are being offered well below their fair market value.  The market is still offering buyers the chance to get great deals as banks and lenders work to unload assets taken on during the period of heavy foreclosures, but once these properties are gone the market should return to normal.  Potential homeowners and investors are in a prime position to buy and negotiate, and the Phoenix and Scottsdale real estate market will likely not be as heavily weighted towards buyers again any time in the near future.

Take advantage of this unique opportunity to own real estate in Phoenix. Call The Holm Group at 480-206-4265 today or request assistance here.