Buying Is Now 33.1% Cheaper Than Renting in the USThe results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a
As Of Right Now There Are 13064 Active Single Family Home Listings In Maricopa County
As Of Right Now There Are 13,064 Active Single Family Home Listings In Maricopa County!
Inventory levels have hit the lowest levels in years! Total properties in the entire MLS number less than 20,000. If there has ever been a stronger indication of the fact that it is a seller's market this is it. Real estate, like anything else, is all about supply and demand. There is demand...the supply is down.
What does this mean?
If you are looking to buy be prepared for the quickly moving market by taking these important steps:
1. Get pre-qualified!
I can't stress this one enough. The time to be getting all you ducks in a row regarding your home loan is before you find the right house. If you wait in a market like this you will be hard pressed to get a pre-qualification together fast enough to make an offer before the other buyers who are looking for a similar home and already have their pre-qualification form in hand.
2. Don't wait...
If you see the right house, don't wait days before reaching out to see it. If it is new on the market you may lose out.
3. Leave Fear at the Door
Multiple Offer situations can seem scary, but there are things we do as agents to help your offer be competitive, even in a sea of offers. If you are buying in the under $275,000 range you will most likely face multiple offers - don't let fear derail your home buying plans. The market doesn't dictate why you are moving, you do!
4. Be realistic!
Getting a deal doesn't necessarily mean buying under list price especially right now. With inventory levels so low and demand so high, in the lower price points that isn't going to happen unless the property is overpriced to being with.
Finally, interest rates and prices still make buying more affordable than renting in our market!
Happy House Hunting!