Buying this Spring? Be Prepared for Bidding Wars

Buying this Spring? Be Prepared for Bidding Wars | Simplifying The Market

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.

What’s Your Home Worth?

Search for Your New Home

16520 W Flora Lane Surprise, AZ 85387

$460,000
2 Beds
2 Baths
1,930 SqFt
Status Active
MLS # 6677899
Property Type Single Family Residence
Price Type --
The Grand awaits! This Gorgeous Valencia II model has been meticulously cared for and shows true pride in ownership. This one-owner home is the definition of Turn-Key and shows beautifully, offering 2 bedrooms, 2 bathrooms, plus a Den/Office. Key features include a gated front courtyard with water feature, Brand New interior paint, tile all throughout, Solar Tubes, sliding cabinet shelves in the kitchen, Corian counters, kitchen island and breakfast bar, tile backsplash, hot water heater re-circulator for instant hot water, cabinets in Laundry and Garage, extended rear covered patio with added Pony wall and Fire pit, and so much more! This isn't just a home, it's a lifestyle of refined comfort. The Grand is one of the top Adult communities in the U.S. and features 4 18-Hole Championship Courses, Fitness Center, Day Spa, pickleball and tennis courts, multiple swimming pools, dog parks, a softball field and over 80 clubs and special interest groups, plus entertainment venues that feature local and international performers. Join The Grand.

2220 N Magdelena Place Casa Grande, AZ 85122

$460,000
7 Beds
4 Baths
4,236 SqFt
Status Active
MLS # 6678575
Property Type Single Family Residence
Price Type --
Welcome to this fabulous two-level residence located in Mission Valley! Discover a perfectly flowing layout showcasing spacious living areas adorned with glossy wood-look floor, arched doorways, soothing palette, & soft carpet in all the right places. The remarkable chef's kitchen offers white shaker cabinets adorned with crown moulding, granite counters, stainless steel appliances, double wall oven, modern track lighting, & a convenient center island. You'll also find an impressive loft with endless possibilities! Double doors open to the main bedroom, comprised of a walk-in closet, a private bathroom with dual sinks, & access to the cozy balcony. Spend relaxing afternoons in the charming backyard, featuring a covered patio & endless blue skies! Don't miss out on this one!

12806 W Clarendon Avenue Avondale, AZ 85392

$460,000
3 Beds
2 Baths
2,037 SqFt
Status Active
MLS # 6679463
Property Type Single Family Residence
Price Type --
**SELLER OFFERING $10,000 IN CONCESSIONS** Welcome to your dream home nestled just minutes from the freeway. Step into the spacious great room, perfect for entertainment. Boasting a freshly painted interior, this home exudes a sense of warmth and modern elegance. The three-car garage provides ample space for your vehicles and storage needs, ensuring both convenience and functionality. Escape to the backyard oasis, featuring lush synthetic grass and a luxurious in ground hot tub, where you can relax and soak away the stresses of the day. Conveniently located just minutes from the freeway, this property offers easy access to nearby amenities, shopping, dining, and entertainment options.

2813 Hidden Creek Circle Happy Jack, AZ 86024

$460,000
2 Beds
2 Baths
1,252 SqFt
Status Active
MLS # 6688152
Property Type Single Family Residence
Price Type --
Escape to the pines in this charming property located in the Starlight Pines Community. This home was built in 2021 and ready for its new owner! As you enter the home you will see a bright and open living room, kitchen, and dining area. The kitchen has beautiful white cabinets with an island and stainless appliances. The home has neutral paint, upgraded lighting and fixtures, laminate flooring and granite countertops throughout. The inside laundry room is oversized and includes a sink with cabinets. As you enter the Primary bedroom suite you will see a separate sliding door to the back patio. The Primary bathroom has dual sinks, a walk-in tub, a linen closet, and also a walk-in closet. Don't forget about the relaxing covered patio overlooking into nature and wildlife at its best.

Leave a Reply

Your email address will not be published.