Phoenix Real Estate - Sell Now
Phoenix Realtors have more and more requests for properties that are for sale as the economy continues to grow in the area. Young families are seeking homes with three or more bedrooms. The so-called McMansion is once again the hot commodity in Phoenix real estate. New home sales in the Master Planned Communities continue to be a favorite. Phoenix residents who have rejoined the job market and found employment opportunities that sustain a previously enjoyed lifestyle, are seeking to upgrade. More people at the lower end of the pay scale are to qualify for some of the new loans that make the purchase of a home within reach.
Five Reasons to Sell Now
â¢ Phoenix homes for sale are in a short supply. In 2011, 50% of home sales were foreclosed properties. That rate dropped to 13% in 2012. Competition in the market is no longer the "ultra cheap" home against a moderately priced one. Today, the competition is against new construction inventory prices. All of these factors inevitably create a seller's market that is based on real world inquiries and better prices for your home.
â¢ If you have been threatened with a foreclosure and your bank is willing to do a short sale to prevent you from having to declare bankruptcy and default on your loan, this is the time to sell. Short-sale prices have risen in the last 6 months and foreclosure proceedings have been given a new path to close the procedure faster.
â¢ Closing time on home sales now averages 60 days while in 2011, closing time averaged 83 days. No one wants to think about the months and months that it took to close a sale in 2009-2010.
â¢ Low mortgage rates are going to start going up and the ability to qualify more buyers is bound to have an effect on the number of qualified buyers and the length of time it takes to close a sale. Phoenix realtors are able to qualify buyers in a shorter time using new loan programs available for buyers.
â¢ Americans have been getting their credit card debt under control and this has allowed them to save money toward a down payment on a home. In addition, there are special Conventional loans available for buyers to use and this is a big advantage for sellers who to sell now.
What Phoenix Realtors Are Saying
The prices for homes in the metropolitan area of Phoenix are at a level that has not been seen since 2003. Granted, this is not nearly as high as the prices seen just before the bubble bursts, but this is much higher than anticipated even a year ago.
Phoenix Realtors give most of the credit for the rise of housing prices to three aspects that have come together nearly simultaneously. The economy has seen a real boost in the Phoenix area due to the energy sector creating more job opportunities and the newest government projects that Arizona has been able to capture. The buyers are young families instead of retirees and these buyers are expected to become involved in community growth and entrepreneurship than our senior citizens.
Finally, the increased interest in purchasing investment properties by large multi-national capital investment corporations has geared up new construction growth. The combination of these facets has historically generated increased sales in the residential market. To surmise, this simply implies that the best time to put up your Phoenix homes for sale is right now more than ever.
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