McDowell Mountain Ranch
Scottsdale Real Estate Market Update:
What is going on? Are you scratching
your head wondering what in the world is going on in the real estate
market? Are you looking for a home you
can’t figure out what is going on? Last year there was a ton of homes for sale
now what?
Let me tell you what is
going on right now in the Scottsdale real estate market. We have seen huge appreciation in the last
quarter and a lack of inventory is really putting the squeeze on buyers right
now.
Why? One reason is because sellers who are or were
underwater the last couple of years are starting to see the appreciation and
are holding out for the chance that they may have equity again in their
home. If you are reading this and you
are curious where you sit visit www.myhomevaluecalculator.com
and they will tell you where you currently sit; whether you have equity or you
are underwater and if so how long it will take for you to have equity again
based on the current appreciation trend.
What else could be going on? Banks or more specifically note holders i.e.
Fannie Mae and Freddie Mac are selling their foreclosed homes in bulk deals to
investors who are turning these homes into residential rentals. This started last summer. That is why you are seeing a lot less REO
(aka bank owned) properties for sale.
So what can I do? Align
yourself with an aggressive agent who works hard for you and your
interests. Good deals and great homes
are not impossible to find, they are just competitive so its time to roll up
your selves and get to searching.
- Get pre-approved by a lender; let us know if you would like a referral of a great lender we have used for years.
- Call us at 480-442-9868 and ask us about homes that haven’t hit the market yet.
- Be committed mentally that some little speed bumps may arise in your home search, that’s okay your agent is there to help you navigate those bumps and get you through them. When it is all over know that it will all be worth it to have a great home.
Hopefully this will give
you a little insight and info as to what is currently happening in the
Scottsdale Real Estate Market. And
believe me this is happening in McDowell Mountain Ranch right now!
Author: Kelly Cook
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