Hot Markets in American Real Estate
Which areas of the United States should residents of Canada consider? After all, there are so many diverse regions, and many have unique features and benefits that give them a huge amount of all-around appeal. Interestingly enough, one of the hottest areas to consider a purchase of real estate is in the Phoenix, AZ metropolitan region.
Phoenix, AZ real estate includes suburban cities like Mesa, Chandler, and Gilbert. It also includes the wonderful city of Scottsdale too. Phoenix is the state’s capital and is home to all kinds of fantastic recreation, culture, sporting venues, shopping, dining, and more. Phoenix, Arizona homes will include upscale properties such as condominiums on top-notch golf courses, large luxury homes in gorgeous subdivisions, and traditional single family homes in remarkably safe and friendly neighborhoods.
There is a tremendous amount of diversity where the population of Phoenix and its environs are concerned. This is the reason that the Scottsdale real estate market tends to be a bit different from that of Phoenix. For instance, the median income of the city is around $41,000 per year, and the average age of the resident of Phoenix is only 25 to 44. This makes it a very “young” city with a great deal of business and potential for growth.
The other interesting thing about real estate in this area is its trend for downward pricing even as demand increases. The reason for this is the current status of the overall real estate market. We all know about the financial problems of the world, and we all know about the effects these problems have had on the housing market, but this has had a unique impact on both Phoenix and Scottsdale homes for sale. As more people begin to invest in homes in the region, the prices continue to decline. This is most likely due to the fact that the area has experienced terrific growth over the past two decades, and many owners have become affluent enough to move into other areas without rushing to sell their current home. This is music to the buyer’s ears, particularly with mortgage rates at record lows too.
There is also a somewhat active market in Phoenix and Scottsdale foreclosure properties as well. We all know that a short sale is not always going to be readily available, but the foreclosure market is more active than ever before. A savvy Canadian buyer can hook up with a reliable realtor and really find themselves a wonderful bargain in this exciting corner of the country especially with the current exchange rate of the Canada dollar.
To find your bargain in this exciting corner of the country contact The Holm Group today at 480-206-4265 or fill out the short form below for a no obligation consultation.