We’ve been running low on homes!? (again)

EV Inventory levels

East Valley MLS Inventory History, 2001-2012

If you’ve been looking for homes in the Maricopa County East Valley recently, you’ve experienced it.  Multiple bidding wars are not fun when you are the Buyer but great for the Sellers out there- which mainly consist of the banks (either via REO or Short Sale). 

What’s different from last time this happened (2005) is we do not have available the “liar loans” any longer that were blamed for the false increase in values and our appraisers and underwriters are very conservative today, so I do not believe we will see pricing sky rocketing anytime soon; but the prices for Real Estate definitely are not going down any longer either.

Between the Local Builders not building homes during 07-11 the way they had in years past and the pricing hitting bottom (with investors buying up everything), not to mention interest rates being so low (4% on average); we’ve hit a perfect storm in our local Real Estate market- which will pass! But for the time being, Buyers Beware- it’s going to take some patience to get the right home at the right price right now.

Please feel free to contact us if you are wondering what your home is worth today or if you are in the market to find a new home and need the right firm with experience to help navigate you through this current madness!  480-243-4242

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