Buying this Spring? Be Prepared for Bidding Wars

Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different!

Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available.

A recent Bloomberg article touched on the current market conditions:

“It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent in the once slow-and-steady heartland, sending prices higher and sparking desperation among buyers across the country.”

Sam Khater, Deputy Chief Economist at CoreLogic went on to explain why buyers are flocking to the market in big numbers:

“In today’s market, many buyers think the trough in [interest] rates is over. If you don’t get in now, it’s just going to be worse later. Rates will be higher, prices will be higher, and maybe inventory selection will be lower.”

In some markets, “thirty-five percent of properties are selling within the first week or two of hitting the market.” Homes are selling at a rapid clip in places like:

• Denver, CO
• Seattle, WA
• Oakland, CA
• Grand Rapids, MI
• Boise, ID
• Madison, WI
• Omaha, NE

Bottom Line

Let’s get together to discuss your exact market conditions and help you create a strategy to secure your new home in this competitive atmosphere!  Give me a call today!  J.P. Cook – 602-320-4253.

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8944 E Red Mountain Lane Gold Canyon, AZ 85118

$453,995

2 Beds

2 Baths

1,982 SqFt

Status Active

MLS # 6669170

Property Type Single Family Residence

Price Type --

This spectacular home offers 1982 sqft of spacious living space. The main bedroom features a large sitting area or office space, walk in closet, bath w/ double sinks, & walk-in shower. Oversized 2nd bedroom This model was designed as a 4 bedroom home and could easily be converted if that's what your looking for. Screened in patio (20x13). Lots of upgrades and update to include no carpet through-out. Water heater replaced 2023, Roof Replaced 2021, Exterior painted 2019, Soft water and R/O system in 2019, Sun screens 2014, HVAC was replaced in 2010. Extended garage 24ft long ,stainless steel appliances with Bosch washer & induction/ convection oven, Top/down/bottom window coverings & so much more. HOA only $42.60 monthly includes Trash

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1993 E Georgia Ruth Lane San Tan Valley, AZ 85140

$453,990

4 Beds

3 Baths

2,435 SqFt

Status Active

MLS # 6678708

Property Type Single Family Residence

Price Type --

New Construction!! Nestled perfectly in the sought after city of San Tan Valley. Adorable 4 bedroom 3 bathroom home with a 2 car garage plus storage. Our Ashton Woods Artisan Collection, spacious owner's suite, stainless steel appliances, granite kitchen countertops and shaker style cabinets makes this a place to call home. Conveniently located off of Combs Rd and Schnepf Rd. As with all of our homes, this one is also constructed as ''Energy Star'' for remarkable comfort, energy efficiency and environmental sustainability!

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2245 E Flower -- Phoenix, AZ 85016

$453,900

3 Beds

1 Bath

1,511 SqFt

Status Active

MLS # 6664508

Property Type Single Family Residence

Price Type --

ANOTHER GREAT CORNER LOT PROPERTY THAS IS BEEN REMODEL WITH NEW PAINT EXTERIOR AND INTERIOR!!!!NEW TILE FLOORS THROUGH OUT,NEW KITCHEN CABINETRIES,NEW COUNTER TOPES,CEILING FANS AND MORE. COENER LOT WITH RV GATE AND POSSIBILITY TO BUILT A GUEST HOUSE

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17382 W El Caminito Drive Waddell, AZ 85355

$453,870

3 Beds

3 Baths

2,040 SqFt

Status Active

MLS # 6649053

Property Type Single Family Residence

Price Type --

Single Story, 2-Car Garage, 3 BR, Den w/Double Doors and Tile, 3 Bath, 36'' Skylar Shale Cabinets, White Ice Quartz Countertops, Under Cabinet LED Kitchen Lighting, 6 x36 Oceanside Cottage Tile Flooring, Bit of Gray Carpeting, Faded Grey Interior Paint, SS Gas Range Double Oven Slide-In Appliance Package, ,Holiday Pkg, Laundry Room Cabinets with Sink, Soft Water Pre-Plumb, Gas Stub for future BBQ, Ext Color Scheme #7

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