REAL ESTATE ||| \"Is this a good time to buy a house, or should I wait?\" - Ahwatukee Foothills News: Articles

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

REAL ESTATE ||| \"Is this a good time to buy a house, or should I wait?\"

Print
Font Size:
Default font size
Larger font size

Posted: Thursday, July 16, 2009 11:00 pm

[Question] ||| "Is this a good time to buy a house, or should I wait?"

[Answer] ||| "If you are reasonably certain that can honor the financial obligation, then the answer is YES. Historically, Real estate markets go up and down. Current market activity in the Ahwatukee Foothills indicates upward motion, hinting recovery.

 

Bank Repo’s 

Bank owned inventory is selling at fair market value. Bank owned listing prices are designed to create bidding wars to assure that they will not sell for under market value. In highly desirable neighborhoods like the Ahwatukee Foothills, it works for them brilliantly.

 

Short Sales  

This situation occurs when a lender accepts less than the borrower (seller) owes. Buyers need to know that the bank most often does not accept the first offer submitted. They collect multiple offers “fishing” for the highest and best. Patience is required in this transaction. Buyers like to close escrow in 30 day because their interest rate lock is free. 

 

Sellers with equity 

The Ahwatukee Foothills was established approximately 36 years ago. There are sellers who have equity and can price their homes to compete with bank owned properties. These sales are NOT as-is sales .They have warranties and guarantees unlike bank repo’s and short sales and most are maintained with pride of ownership. These are excellent investment opportunities for a buyer.

 

Lender incentives

There are extremely favorable loan programs very recently designed to encourage buying.

Some have down payment assistance. First time buyer programs apply also to those who have not owned a home in the last three years. The Federal Government wants bank inventory SOLD and has acted aggressively to promote recovery. FHA qualifying FICO scores have been lowered. These programs and today’s low interest rates will not last forever!

 

Supply and demand

The indicator that should be most closely watched is the amount of inventory available. In the last “normal”market, prior to 2005, the Ahwatukee Foothills with approximately 28,000 homes had a consistent average of about 600 houses listed in MLS (the Az. Regional Multiple Listing Service). Today there are approximately 413 houses (condos excluded) available for sale. People are buying houses in the Ahwatukee Foothills. Forty or more houses go into escrow every week.

 

Hind sight 

The last time inventory was low prices soared. Every home owner today has most likely thought “We should have sold in 2005, 2006 or 2007”. Like wise we will all be saying “In 2009 I could have bought that house for next to nothing”.  

 

[ABOUT THE EXPERT] ||| Pam Eagan

 

Pam Eagan is a Realty Executives associate broker who has been selling the Ahwatukee Foothills area for 24 years.

In her own words: "As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground."Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game."I go the extra mile to help you achieve your goals. That's why I constantly research the market and property values so your home is priced effectively from day one. I also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers."

 

ADDRESS: 4435 E. Chandler Blvd., No. 200                  Phoenix, Ariz. 85048LOCAL PHONE: (602) 390-5740OFFICE PHONE: (480) 705-2288ONLINE: http://www.pameagan.com">http://www.pameagan.com

 

 

 

[NOTE] ||| The Ahwatukee Foothills News and ahwatukee.com present "Ask the Ahwatukee Area Expert" as a promotional featured intended to serve both our readers and our loyal network of advertisers, through the assistance of the local business community. "Answers" and other information presented by the "experts" are those of the contributor, and do not represent the views or opinions of the Ahwatukee Foothills News (inlcuding ahwatukee.com) or its editorial staff.

 

 

 

 

More about

More about

More about

  • Discuss

The Long Road to Immigration Reform

A deadlocked Supreme Court has effectively squashed any chance of significant immigration reform before President Obama leaves office in Janua…

Published: June 30, 2016 - 8:13 am @ http://www.bloomberg.com/news/articles/2016-06-30/…

VA Colluding with Union to Promote Anti-Reform Rally

BY: An official at a Department of Veterans Affairs hospital is helping the largest federal employee union oppose efforts to reform the agency…

Published: June 30, 2016 - 8:11 am @ http://freebeacon.com/issues/va-colluding-union-pr…

Growing Greens in the Spare Room as ‘Vertical Farm’ Start-Ups Flourish

They include City-Hydro, a farm built in a spare bedroom on the second floor of Larry and Zhanna Hountz’s three-story rowhouse in Baltimore. M…

Published: June 30, 2016 - 7:43 am @ http://www.nytimes.com/2016/06/30/business/smallbu…

Dispatch from Philadelphia: The City Prepares for a Soda Tax

It’s been two weeks since Philadelphia approved a 1.5-cent-per-ounce tax on sugary beverages, and the city’s streets are still littered with t…

Published: June 30, 2016 - 7:13 am @ http://civileats.com/2016/06/30/dispatch-from-phil…

Gay Marriage, a Year Later

One year ago, the Supreme Court made same-sex marriage legal nationwide. We asked readers who were married shortly after the ruling to reflect…

Published: June 30, 2016 - 6:42 am @ http://www.nytimes.com/interactive/2016/06/28/us/s…

Arizona pot legalization supporters to submit petition

PHOENIX - Supporters of legalizing marijuana in Arizona are expected to submit enough signatures for their proposal to qualify for the ballot …

Published: June 30, 2016 - 6:23 am @ http://www.abc15.com/news/region-phoenix-metro/cen…

Gun Control Advocates Are Planning To Target Three Vulnerable Pro-Gun Senators

After a 15-hour filibuster in the Senate and a 25-hour sit-in in the House will likely fail to produce meaningful gun reform after the Orlando…

Published: June 30, 2016 - 5:42 am @ http://thinkprogress.org/politics/2016/06/30/37943…

Declassified CIA file: detainee would probably have cooperated before torture

Medical personnel who aided in the CIA’s first simulated drowning found that the detainee who endured it was probably willing to cooperate bef…

Published: June 30, 2016 - 5:40 am @ https://www.theguardian.com/law/2016/jun/14/cia-wa…

FLW Fishing: Articles

An unweighted Yamamoto Senko, rigged on a wide-gap hook, has caught a lot of bass for me. Most often, I use it where the fish have been hammer…

Published: June 30, 2016 - 4:22 am @ http://www.flwfishing.com/tips/2015-11-11-fishing-…

Attorney General Lynch has private meeting with Bill Clinton

Attorney General Loretta Lynch met privately with former President Bill Clinton in Arizona on Tuesday, but Ms. Lynch told reporters that the t…

Published: June 30, 2016 - 3:41 am @ http://www.foxnews.com/politics/2016/06/29/attorne…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…