As Inventory Lowers, Real Estate Prices Rise
I wanted to share some insight on the current real estate market here in the White Mountains. We are now in the winter months here in the White Mountains of Arizona and many sellers tend to take their properties off the market due to the amount of buyers that are actively looking to buy homes. In previous years, the market trends here in northeastern Arizona show December being a slow month for real estate due to Holidays and people spending time with their families. With the inventory slowly shrinking up here in Show Low and surrounding towns and cities, we should start to see a slight increase in real estate prices. There are a few factors at stake here which include homes on the market declining and foreclosures drying up. Another factor that drives real estate prices up is multiple offers being submitted on foreclosures that tend to drive prices up and above the listing price. This will be a reoccurring trend that we will see into the coming months of 2013.
If your a first time home buyer looking for a good reasonable price on a home, now is the time to buy. Interest rates are expected to rise up and above 4% throughout the 2013 fiscal year. There are still lots of good deals out there and you have to act fast when you find a property that appeals to you. Getting your offer submitted quickly is the key to becoming the new owner of a home. Get in touch with your financial institution to get pre-qualified before you start looking at making a real estate purchase.
As an active real estate agent here in the White Mountains, I am dedicated to helping you with all your real estate needs. Providing you with the best real estate service is something Istride for. If you need help or suggestions on finding the right financial institution for you, home inspectors, mortgage brokers or anything that pertains to real estate, please don’t hesitate to ask.
