The Time is Now.
The dust has settled in the Phoenix Metro area with our local real estate market undergoing the tail end of its "adjustment", or "correction". Speculative Investors have left to find other markets in the country to uproot as we now slowly move back towards a housing inventory balance.
While there remains an ample amount of housing available for purchase, there is a light at the end of the tunnel that was nowhere in sight one year ago. The light is based on numbers and common sense.
Mortgage interest rates remain low. Arizona continues to see a steady stream of residential relocations.
Maricopa County (home of Phoenix, Scottsdale, Chandler, Gilbert, Tempe, Mesa, Glendale, Peoria, Cave Creek, Carefree, Surprise, Avondale, Goodyear and more) is number 1 in the United States' population growth, and is the 4th largest county in the nation with 3.8 million residents-- according to the U.S. Census Bureau.
The outlying areas such as QueenCreek, Litchfield Park, New River, Far Southeast Valley, will be the last to hit a recovery. These are areas where Investors went on a buying frenzy two years ago when new construction was out of control, and resale homes were under contract within hours after they initially went on the active sales marketplace.
With gas prices on the rise, and traffic increasing due to our population growth, more centralized locations such as Scottsdale, central Phoenix, north Chandler, west Gilbert are proving to be more desirable based on location, location, location. Therefore, sales are moving more quickly and the balance between Buyers and Sellers will be realized sooner than later.
Are you Ready For Some Football?
The newly constructed, highly coveted University Of Phoenix Stadium in Glendale will host the upcoming Superbowl in 2008. Consider the worldwide exposure our Valley will receive amidst this undertaking. It will provide all of us with consistent advertising and public relations that will boost tourism, relocation, and as a result-- real estate.