Arcadia is one of the largest neighborhoods in Phoenix, AZ. Real estate in this area involves the area of 44th street to 68th street. It also involves the area from Camelback Road to the Arizona Crosscut Canal. The ambience around this neighborhood is fairly affluent.
Houses are built on large land lots and are generally well taken care of. These Phoenix, Arizona homes go for high prices, as they are close in distance to the upscale section of Scottsdale. Homes for sale here are often built upon former citrus groves. The area is popular with many landowners for its matured landscaping as well as its excellent land irrigation. Many of the homes also have citrus fruit trees such as orange, lemon and grapefruits.
Like most other cities in Arizona, Arcadia homes for sale have suffered because of the tax credit expiration. The federal government provided a temporary tax credit for first time home buyers which helped to revitalize the housing market for the first quarter of 2010. Now that the federal program has come to an end, many prospective buyers are left without that incentive.
Rather than leaving all of these Phoenix and Scottsdale real estate buyers out in the cold, individual real estate companies are now stepping up and offering their own savings program. Such programs allow banks to “extend” credit for new buyers at the close of escrow. This type of program would allow home sellers to improve their chances of selling the home even if the market should worsen.
These incentives are helping buyers in Arizona finance their dream homes. Buyers today still want those savings and that is understandable. They want the benefits associated with that tax credit, just as other homeowners before them received. The fact that many companies are creating their own incentives for first time buyers shows a commitment to progress and is good news for the industry.