Phoenix Real Estate Market Update for Spring 2014

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Phoenix Real Estate Market Update for Spring 2014

Welcome to my real estate video blog. I will be updating you bi-weekly with informative topics meant to increase your knowledge of the real estate market here in Phoenix and abroad. Today I will be focusing on the state of our current real estate market and what it will mean for you.

The Phoenix real estate market has been through quite a few changes over the last two years and we have transitioned from a seller's market to a much more balanced market. We still have a seller's market at some price points, so it depends what your home value is.

However, properties that are priced correctly are getting multiple offers and selling in just a few weeks. Homes that aren't priced well are bound to sit on the market and go stale. Pricing is very important in this market.

Inventory is neither high nor low right now because it really depends on what price point you're looking at. For properties that are priced at $150K or below, it is still a little bit of a seller's market.

If you are a seller looking to move up into a better home, then you should know that our market has appreciated by 40% in the last 24 months. Now would be a fantastic time to get your property on the market if you want to reap the benefits of this appreciation.

If you are a buyer you need to keep in mind that interest rates are still historically low. Your buying power is very high, and you can usually own a home for less than you could rent it for, so it is a great time to be a buyer. 

Overall our market is well balanced and has recovered nicely from where we were just a few years ago.

If you are interested in speaking with me about real estate in Phoenix or if you have any questions about this video, please do not hesitate to contact me. I am always willing to sit down and discuss your individual needs with you.

You can reach me via phone or email. Thanks for tuning in!