Scottsdale, Arizona Real Estate
Posted on March 31, 2009
Filed Under Preforeclosure Properties |
Many home owners in Arizona are facing tough times because of several underlying issues that home owners may or may not be aware of. An Executive Sales Associate with Coldwell Banker Residential Brokerage wants to discuss these issues so that you have useful information to make an informed decision about your future regarding Real Estate in Arizona. Do what you will with this information. This is one Real Estate Agents opinion and makes no guarantees. Market conditions are impossible to forecast. This article is designed to tell you what has been happening in the past, and where we are today regarding Arizona Real Estate issues.
Now may be an excellent time to purchase a home in Arizona. The interests rates are good, the prices are low, and sellers are giving amazing incentives. There is now way to determine if the prices have fallen as far as they are going to go, but home prices seem to be leveling out. Home builders in Arizona are still building massive communities on the outskirts of Phoenix, Mesa, Buckeye, Chandler, and Casa Grande. Builders would not be building if people were not buying these homes. Yes, the builders are giving great incentives. Residential re-sellerâs are also giving great incentives because they are imitating the builder incentives.
Home buyers in Arizona are facing a complicated decision right now. Should they live sixty miles from work and pay two hundred thousand dollars for a home, or should they live ten miles from work and pay three hundred thousand dollars for a home? When making this decision, it would be best to calculate how much money you will spend on gas, how much your vehicle will depreciate because of the amount of miles you are putting on your car, how much time you will spend away from family with a long commute, and how much traffic you are willing to put up with. It would be wise to do a mathematical calculation on these factors versus a higher mortgage payment to see which would make more sense financially. However, other factors will be involved such as school districts and amenities.
Buying a home in Arizona is getting more difficult. Lenders are raising the bar because of the drastic increase in foreclosures. When there is a high percentage rate of foreclosures, lenders must raise their standards to protect their investments. Someone thinking about purchasing a home in Arizona will need a series of qualifications to get into a home loan such as a good work history, a descent credit score, and a good debt to income ratio. Lenders are requiring higher credit scores, more income, and longer work histories given the recent foreclosure rates. Lenders are also requiring more documentation on your assets and liabilities.
When lenders raise the bar, not as many people can qualify to purchase a home. This, combined with builders and sellers flooding the market with home listings, is creating an overall slow down of the market because the publicâs confidence has weakened. The growth in Arizona is still phenomenal. Arizona is now the number one growing state in the entire United States.
If you are thinking about purchase a home, now may be the best time with the current interest rates, and the amazing incentives available. It is extremely common for people to get into homes with zero down. If you are a seller, now may not be the best time to put your home on the market. If you have to move, consider renting your home out to a good tenant. A qualified Realtor will be able to help you put your home on the market for lease. Lease option purchases are also becoming very popular in Arizona. They are designed to help a person that does not yet qualify for a home have a possibility of purchasing your home at the end of the term of the lease. This gives someone time to clean up their credit issues. However, a lease option purchase does not guarantee that the tenant must buy your home, they just have the option.
There is a link below, a website developed by an Executive Sales Associate with Coldwell Banker Residential Brokerage, that is truly helpful and is designed to educate the public. Definitely take a look at the website if you have been thinking about buying or selling a home in Scottsdale, Phoenix, or any other city in Arizona If you choose Coldwell Banker Residential Brokerage to represent you in a Real Estate transaction, of course they are going to make money. That is not a secret. The seller always pays both the buying and selling Real Estate professionals. When you are the buyer, you do not pay a Realtor. Choosing the right firm to represent your best interests is of paramount importance. Coldwell Banker Residential Brokerage makes it mandatory for their Realtors to get proper education and training. They take the time to train their Realtors properly so that your best interests are always number one.
Nick McConnell
http://www.articlesbase.com/finance-articles/scottsdale-arizona-real-estate-131139.html
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5 Responses to “Scottsdale, Arizona Real Estate”
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Should I leave Detroit, Michigan and move to Scottsdale, Arizona?
I currently live in a suburb outside of Detroit, Mi. I was born here and have lived here my whloe life (28 years). I am miserable and have always wanted to move out of state. I feel that Detroit is the armpit of America. Plus, the majority of my family has packed up and moved south. However, I have a great job that I really do love. My friend has moved to Scottsdale, Az and loves it. I went to visit for a weekend and I loved it too. I have an invite to come out and start a new life. Of corse, I am a little scared. Any words of encouragement or good advice would be most appreciated. Also, how is the economy in Az? Are jobs frugal (I'm in accounting with a real estate background)? People freindly (for the most part)? I like the heat but are the summers really that bad?
Also, if anyone has good advise of why I should stick out in Detroit,…..by all means please elaborate.
I also grew up in Detroit but haven't lived there in years. Lived Down South for 17 years and now in New York City for 7 1/2.
If I owned both Arizona and Hell, I would live in hell and rent out Arizona.
I have heard people say that it is 7 months of heavenly weather and 5 months of pure hell.
You are still young, so if you want to take a chance, then go for it.
However, you will find people are going to be different in every region of the country. I didn't realize how Midwestern I was until I moved South.
Good luck.
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You will have no problem. Scottsdale summers are brutal but jobs are plentiful and it beats the hell out of Detroit
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For all it's worth, i got three words for you: JUST DO IT! I live in Detroit, MI myself and it's just getting worse and worse here as the days go on. In college, i majored in Business and feel that it should qualify me to work anywhere i please, but that hasn't helped me in an economy depleted city and state like Detroit, MI. I don't think Arizona isn't all that bad. The West Coast and Dirty South are on fire when it comes to opportunities like landing another job or starting a business. Nine times out of 10, if you look for a job in a weak economy, you will probably never find one unless you make it your mission in life to kiss every piece of azz that comes your way just to get by and i don't think anybody in their right mind would do something like that. I am contemplating moving to Seattle and i really don't blame you if you chose to leave.
Where's the guarantee here? It's nowhere! Granted, i know that in life there are no guarantees, but the jobs here are so strenuous and so monotous that individuals like me don't get paid the amount we're worth to take a whole bunch of BS from people and situations that drain our ways of life, thinking, and hope. It makes no sense to me to get paid $10/hr and you gotta put up with a lot of mess just to get it. I feel like if you're getting paid $20/hr, that's another thing.
Did you watch the news last night? Comerica is packing up its corporate offices and moving to Dallas, TX and taking more than 200 jobs with it! How shady is that? The more jobs lost, the more the economy here goes into freefall with the point of no return. How can you raise kids (if you have any) in an environment where there aren't any jobs? How are you going to teach them the value of working to earn a living and they can't get jobs to support this claim? It's impossible!
The only reason i can tell you to stick it out here is because of the fact that you were born and raised here all your life for 28 years (me too) and the majority of your family is here. Going to a new place can be scary, especially when you don't have a safety net to catch or be caught in. Go to AZ! I don't think you want to waste your whole life in a place that drains you and makes you feel worthless and doesn't want to give you a chance to survive and make it out here, especially when you are trying to give yourself one by struggling to find a job, or an opportunity!
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The greatest thing about life is that if you are unhappy with where you live, you can change it!
I say, GO FOR IT. Because remember, you can always go back if you don't like where you move to.
America has many wonderful places, but I'm sorry to say, I don't think Detroit is one of them. I grew up close to there (Toledo, Ohio) and worked in Detroit for many years.
I now live in Los Cabos, BCS, Mexico and don't regret the move.
I still communicate with my old friends and family, but the climate here is sooooo much more agreeable for me.
Pehaps Arizona would be great for you. I lived for year in Wynsdale and loved the climate but not the dust storms.
Good luck to you!
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