Foreclosures Make it The Perfect Time to Invest in The Phoenix Arizona Area

April 15, 2009 - PRLog -- The state of the economy has made it the perfect time to invest in real estate in the Phoenix Arizona area.  Prices are lower than most have seen in over a decade, which is advantageous to investors.  

It's recommended to contact an experienced agent that knows how to negotiate with lenders, because most of these properties are bought either directly through a lender or at auction.  Since many lenders have downsized their staff, you can get responses to your inquiries more quickly by working with a Phoenix real estate agent.

Lenders are being flooded with offers, which mean you can purchase real estate at huge discounts.  The prime areas for the best deals are neighborhoods with properties valued below $100,000.  The homes with the most damage are where the real values are.  These are perfect for those who fix up houses for the purpose of resale.

If you are an investor, consider lining up your financing before making an offer.  This will help you close more quickly.  Also, many buyers are paying with cash, which may give you the opportunity to purchase real estate at an even bigger bargain.

Buyers that are interested in purchasing foreclosed homes with the intention of living in them are eligible for financing, especially in homes that are in relatively good condition.  Your Phoenix Arizona realtor can help you choose homes that may be eligible for financing.  
The federal government will be adding additional help for home buyers interested in purchasing foreclosure properties.  Additionally, the city of Phoenix is planning on using a portion of its area funds to help cover down payment or closing cost on a foreclosed home to qualified buyers.

For those interested in investing in fixer-uppers, your Phoenix realtor can help you find foreclosed properties that can be repaired and resold quickly, before other neighborhood homes fall into foreclosure, which means the price would be undercut.

First time buyers of homes receive particularly good values, as homes that may have cost $100,000 a few years ago may now be purchased at half the price.  This is good news for young families wanting to purchase a family home.  

The state of the economy carries mixed blessings.  While it is bad news for many, it is good for anyone wanting a first time home or investment property.  Contact a Phoenix Arizona real estate agent to learn more about area properties and the options available to you.
Maureen Karpinski
Find your Phoenix Arizona Property at http://www.cactuscountryproperty.com/city/phoenix.htm
Posted by Cactus Country Arizona Homes & Properties http://www.cactuscountryproperty.com

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