IT’S A GREAT TIME TO MOVE TO PHOENIX

Well, it’s fall and it’s our best time of year!  We wait all

through the hot summer to finally get to the “season” here in Phoenix.  It’s still a little hot during the day, but the daylight hours are shorter, thus the nights are getting cooler.  The real estate market here continues to move along.  While the bulk of the sales are below $200,000, there are many, many opportunities to get a great buy at all price points.  I’m not a fan of short sales — non-responsive selling agents — non-responsive banks — agents taking multiple offers to drive price up — months of waiting with no word.  Frankly, I try to steer people away from them unless there’s realtor notations that say that they have everything in place and can close.

Lender owned properties can sometimes be a challenge as well.  I’ve closed a couple of these, but once again you’ll have multiple offers and the selling agent (who is representing the bank) will come back with “submit your highest and best offer”….these do workout more often than short sales.  Keep in mind that these distressed properties are sold “as is”.  If you’re handy, it’s great so long as the property is structurally sound.  Be sure to get an inspection.  Most of these homes are also missing the kitchen appliances as well.

Because the short sale and lender owned properties are running the market, the “normal” type of listing is taking a hit.  However, keep in mind that there’s most likely someone living in the home and taking care of it on a day to day basis, the appliances are still in place, they will negotiate better than a bank, you’ll get answers to your offers.  Also, if you’re able to wait a little bit to buy, the short sales will eventually turn into lender owned if not sold prior to auction.

All in all it’s still a good time to move to Phoenix….our winters are worth the wait!  In addition, real estate is the best hedge against inflation…..