The Phoenix real estate market is getting more competitive. The bank owned properties are starting to receive multiple offers on properties below $150,000. First time home buyers are coming out looking for a great bargain since mortgage rates stay low and the $8,000 tax incentive from the Federal Government. However, many people are becoming frustrated with the whole process. We experienced this type of bidding wars when the real estate market was going in 2004 here in Phoenix, Arizona.
I represent many investors who purchase Phoenix real estate because properties cash flow. Then, other people are using their 401k monies to purchase real estate within their retirement accounts because they are tired of Wall Street. So, we have primary home buyers competing against investors. It makes for an interesting scenarios. Many listing agents sit on the offers waiting to have a multiple offers on one property. Then, the listing agent will want to know the buyers highest and best offer. This happens on every property over the last ninety days. It is real competitive. So, that means the buyers have to be more aggressive when purchasing homes.
What are you experiencing in your local marekt?
Make the Call, Set the Plan, Do the Deal$!
Feel free to listen to my Radio Show to learn more about the phoenix real estate market, new trends, and the latest opportunities. The Real Estate and Beyond Radio Show Airs every Saturday from Noon-2:00pm on Conservative Newstalk KKNT 960am in Phoenix, Arizona. You can listent to past shows, or stream on-line.
Phoenix Real Estate Resource Center
Follow Me On: 
