Profiting in a Rebounding Real Estate Market

shutterstock_328514033It’s no secret: Phoenix is once again a hot market for residential real estate. Previous reports showed investors had discovered the Valley and were quick to snatch up homes at low market prices, but today’s homebuyers are actual families.

Year-over-year analysis shows significant growth in single-family home sales. Townhouse and condo sales in Phoenix have also increased. Even new homes are making a comeback! Home builders requested 77 percent more new home permits in October compared to the same time frame last year, indicating a push for new developments and booming populations in Phoenix.

While November is in full swing, this is truly residential real estate’s metaphorical spring. The ice has thawed, the economy is returning, and people are ready for change. Real estate agents across Phoenix are prepared to charge sky-high commissions because they know the market is on the rebound.

So, what does this mean for investors and sellers?

Investors, this means you have a choice to make. New home purchases are tempting, but they don’t offer much long-term value if your goal is to improve the home and sell it for a profit. This is also a risky investment because new developments spend many years under construction. Potential buyers don’t want to move in to these areas because they know a city is being built around them that will create noise and block any potential views they might have had. Foreclosures in Phoenix are also risky investments, but offer the advantage of price. With a foreclosure, it is more likely the neighborhood you’re buying into is stable. You know the area and you are more likely to save money on the sale, which leaves more room for renovations that increase home value and your margin of profit.

Anyone selling a home in the Phoenix area should be aware that real estate agents will ask for a laundry list of repairs. Buyers may make even more demands, adding to the crushing weight of selling your home in a market that favors the buyer. We buy houses in Phoenix and pay cash on the spot. Sellers get to pick their own closing dates, which is another added benefit of working with Reed Lattin and his team at All Homes AZ.

Make the choice to simplify your life and get cash for your homes in Phoenix! Call or text us to speak with a Phoenix real estate professional who can help you meet your real estate goals and profit!

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