Phoenix Real Estate Market Update – September 2009
I want to wait until the Phoenix Real Estate market hits “bottom” before I buy!
Well, guess what, it appears to have hit the bottom several months ago and you may have missed your chance!
Why won’t the Phoenix Area media give you these housing facts? I guess the more doom and gloom the better it is for the media, but not for Phoenix Real Estate.
The more confidence the consumer has in the housing market the faster our economy recovers. And yet, you never see these numbers.
Through August, the 2009 Phoenix Real Estate market has closed 61,125 homes compared to 46,156 homes in 2008 and 66,094 homes in 2007.
There are currently 37,688 homes available in the Phoenix Real Estate Market, with 12,365 homes under contract and 7858 closed in September. These figures represent 3.04 months worth of sales.
A normal Phoenix Real Estate Market consists of 3 to 5 months of available inventory.
If you are searching for a Phoenix area home under $250,000 you are in for a quite a shock. There are multiple offers, many for more than the list price depending on the condition and location of a home.
Prices are going up in many areas. But, you must be careful to know what areas are rising and which are still sinking. Phoenix Real Estate is very much about location, location and location. So, make sure before you write an offer you are working with a Realtor who can do the proper research on pricing, condition and location.
This is where my expertise in the mortgage business is critical! I have seen thousands of appraisals and have a thorough knowledge of appraisal principles, guidelines AND the tools to perform detailed price research. So, don’t overpay, take advantage of my expertise! Call me today at (602) 291-4362
Visit my site where I have hourly updates of homes along with photos and maps. To search for Phoenix Homes, visit my site:
Would you like to buy homes 10% to 20% below market value? Call our office at (602) 291-4362.
