Entry-level home buyers in Phoenix now have the overwhelming pressure of low inventory and rising mortgage rates. Tables have turned in seven short years since the 2011 trough of the Great Recession. Sellers were then begging for offers. In this market, no longer.
Home inventory under $200,000 around Greater Phoenix has dropped by 26% compared to this time last year. That is even fewer homes with yard signs in a market already pinched for available homes for sale. If you are home shopping in a tight market, your A-game will need to be well rehearsed.
These may be incremental changes in the way that you have been doing your home search, but these 10 tips could just give you the edge in a field full of competition. You may finally win first place in those frustrating multiple-offer scenarios. Here’s the list:
Do you have any tips from your home purchase experience that would help others? Drop me a note in the comments below.
I race to win. If I am on the bike or in a car it will always be the same.
– Valentino Rossi, Italian motorcycle racer and MotoGP World Champion
A Phoenix airfield from a bygone era has Hollywood connections and much more...
Fountain Hills and a Chandler zip code achieved the lowest crime score in Phoenix according…
Guess this number before you open the page. My estimate was way short of the…
Here are practical tips to multi-family investing from a 28-year old broker who has been…
The percentage of bank foreclosures in Phoenix is lower than before the housing crisis. Time…
Abandoned mid-century Phoenix airfields steeped in history are all around us.