Home prices are starting to settle at a bottom range, and the number of listings are starting to fall. There are several factors that help make this a buyers market: 1. Interest rates are low and banks want to lend money to qualified borrowers; 2. The unemployment rate is moderate; 3. AZ is a great place to live and work; 4. There is a limited amount of land for new housing, keeping pressure on the demand for re-sale homes. One way to view the health of the real estate market is to focus on the "absorption rate" (i.e. how long would it take for the current inventory of homes on the market to sell). The current absorption rate is about 9 months. Some examples of past abnormal absorption rates include 19 months, when the market stalled in the 1990's and there were 3 times the number of homes for sale here than there are now; and 1.5 months, during the feeding frenzy of 2005 when there was almost no inventory and Buyers lined up outside homes to make offers. The current 9 month supply of homes for sale is NOT NORMAL. Supply and Demand are tilted to the buyers side. So... If you are a Seller, hire a great Realtor(R) and price your home fairly. Most homes that don't sell in the first three to four months or two are overpriced. If you are a Buyer, you have many choices... find a house you like and can afford and make an offer. Call Bruce "The Moose" Fraser @ (602)332-5564 today.
ZIP Codes: 85280, 85281, 85282, 85283, 85284, 85285, 85287, 85289 Location Characteristics: Thinking of moving to the Tempe area? Not only is Tempe a beautiful area, it is the home of Arizona State University. If your here in Spring, you can catch a California Angels Baseball game. Not only is Tempe known as a "College Town" it is also known as an innovative business sector in the Valley of the Sun. Shopping, Schools, and Hospitals are all within minutes of local neighborhoods.
About Bruce The Moose Fraser:
A native from Maryland, Bruce moved to Arizona in 1980 and started his real estate career in 2003. With a back ground in customer service, Bruce has received the highest level of customer service award for three years straight from Century 21, along with becoming a Centurion award winner in 2005. With the desire to start a team, Bruce moved to RE/MAX 2000 in January of 2007 and started "Team Moose". A member of the Knights of Columbus, Dad's group at Chandler CTA, and an ABR (Accredited Buyer Representative) holder, Bruce continues to help shape the future vision of "Team Moose", along with overseeing all transactions. Bruce, his wife Melissa of 15 years, live in Chandler along with their 4 children, ages 14 to 11.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
