TERRAVITA–GREAT NEWS
I have a listing in the gated golf community of Terravita in North Scottsdale. As in most communities throughout the valley we are seeing many more active listings than in previous years. Although lending practices have once again become more stringent, we are seeing sales. There are two properties on the same street as my listing that have changed their status to pending.
This is a great sign as these homes are $600k plus. This shows that people are starting to move forward with purchasing. You’ll get all different opinions on the market regarding “have we hit the bottom yet”, but you just need to see that homes are selling. It’s still a buyer’s market, but for those who can buy, it’s a great time. I do believe that within the next year to two years we are going to see the interest rates increase which will make it more difficult for people to purchase a home with a mortgage due to the higher interest rates. This is bound to happen. With the money that is being printed by this government, it’s just a matter of time.
