It's Great to Be A Buyer or Seller...Sizzling Hot Market 2020
(Published on - 10/8/2020 2:34:20 PM)
If you have a home with some issues, it is a great time to sell it! There is so little inventory right now in Maricopa County that there are bidding wars in many price ranges. Under a list price of $2,000,000 it is a sellers' market! Who would have thought this would be true after the nightmare foreclosure market in the mid-2000's?
If you are a buyer the interest rates could not be much better. Full disclosure--I just closed a fixed-rate, 30-year refinance on my own home for 2.75% interest. Folks, I don't know if you could have better interest rate conditions. You simply have to be on the ready as soon as a home comes on the market and have a winning strategy to get the seller to take your offer.
I just closed on a home in August and there were, at least, four offers on this property. Communication with the agent's team, coupled with the good fortune of my own clients' extended face time with the seller, resulted in the winning bid and we weren't even the highest offer.
Don't think it will turn around either. With record numbers of people moving to Arizona and the new-home market way behind in keeping up with demand, we expect to continue to see low inventory challenges. Call me today if you want to buy or sell.
