WHAT’S HAPPENING IN THE PHOENIX REAL ESTATE MARKET?

Each and every time I take a client out to find a home

it’s an interesting experience…..last week was no exception.  I have a client moving here from Colorado.  A young man and his young family.  We spent about 5 hours looking at homes in Buckeye.  Because his price range is below $100k, all of the homes we looked at were bank owned.  There are a lot of short sales as well, but we don’t have the time to wait for those to go through.

While a couple of the places needed way more work than he was willing to do, the majority weren’t too bad.  The homes were all built in 2005 and later.  Very sad to see how people’s dreams fell apart….very evident that many of these homes were filled with children.  In any event, we put an offer in on a home that had been on the market 2 days….by the time I faxed the offer, there were 2 others submitted as well….I would hope that we get the house and hope that it’s not an investor buying to hold onto it for a couple of years to make money.  There are actual people out there who can buy a home and shouldn’t have to fight against all cash buying investors….that is where I think this is all wrong.

I am a total optimist and am holding out for the best possible outcome for my client…..unfortunately he lost his bid.  But, there are others and we’re getting to it!