Figuring Out Bargain Priced Homes In Phoenix And Nearby Cities

Aug. 31, 2011 - PRLog -- Figuring Out Bargain Priced Homes In Phoenix And Nearby Cities

Back in the day, no one would have guessed there would be bargain priced homes in Phoenix, or anywhere in the U.S. for that matter. Yet in the recent market, things have changed. The mortgage industry's present interest rates are competitive, and this makes buying value properties a huge possibility.

Why So Affordable?

One might wonder if properties are of low quality or lack maintenance, or perhaps lawsuits were involved. The thing is, places like Scottsdale and Phoenix has become a foreclosure jungle. Arizona has been in the top 5 of all States in the U.S. that was affected the most by the housing crash. On top of that, most properties in the area weren't nearly as costly as it's been in other States like California. The result is, you get a lot of bargain priced homes in Phoenix, Scottsdale, and Glendale, Arizona. Those who already know about this are flocking there as we speak.

Is There A Better Time To Buy?

If you're looking into Phoenix and Scottsdale real estate, now's the best time to buy. Any Phoenix realtor or Scottsdale realtor would tell you no one has seen investment opportunities like this in a very long time. Interest rates are at historical lows. You'll also find that new refundable tax credits are now being offered to those purchasing a home for the first time. Plus, there's still a wide range of options (although they may be running out). At present, there's around 38,000 single family homes in Arizona in addition to a little more than 50,000 multi-family units and condominiums. Currently, prices continue to go down, particularly in Phoenix, but no one can predict if it's going to go back up soon.

Some Suggestions

Confused where to look? Phoenix, Glendale and Scottsdale are some of the best places to start looking. Phoenix is almost the same as San Diego and Nashville in size, so it could offer some interesting cultural activities like shopping, arts and entertainment. Outdoor activities like hiking, biking and swimming are also popular here mainly due to the warm, sunny weather all-year round. Phoenix golf communities abound here. For diversity in activities as well as homes (from affordable starter homes to luxury estates), go for Phoenix, Arizona.

Glendale is a newer city that is flourishing fast and building new hot spots all the time. You'll find the famous University of Phoenix stadium and some very attractive, historic homes together with new condominiums.

On the other hand, Scottsdale is considered one of the most livable cities in the country. This is probably the reason why there's been an influx of retirees in the area. Here you'll find quite a large quantity of high-end homes at relatively lower prices due to the increase in supply and depleting demand from qualified buyers.

Okay, now you know where to get started, should you jump in and buy now? The truth is, it depends entirely on you based on many aspects like the place where you want to live, the lifestyle you want, the condition of the property, your risk tolerance if you're going to invest, the length of time you plan to live in that home, and more importantly, your personal and financial circumstance.

Especially for first-time buyers, purchasing even bargain priced homes in Phoenix can be confusing. You'd want not only affordable properties but those that will work best for your individual needs. Check online for homes that are listed - there are numerous real estate companies that provide you a convenient and comprehensive list. There are also many online tools that will help you find homes by price range. You may even be able to check homes from satellite view. To make sure all your transactions go smoothly, it would be wise to have a dependable real estate agent specializing in Arizona real estate help you out.


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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