The market is picking up big time!
I remember back in 2006 when the market stopped overnight. Any real estate agent that was active in the market could actually “feel” the change happen overnight. Well, I can tell you that I have experienced the exact opposite feeling over the last month. Everyone in the valley that is actively working with buyers and sellers now knows how active the market has become below the $150,000 range.
In fact, in the last week, I have written 7 offers and 4 of them have been accepted. I have not written an offer all week that wasn’t in a multiple bid situation. That is really good news for our real estate market and most importantly, the beginning of recovery in Arizona. In my humble opinion, we are at the bottom because now we are regularly getting multiple bids on property. 2009 will be the year of inventory absorption where investors and smart buyers jump into the market. If you are sitting on the sidelines waiting for a better opportunity, you may be waiting too long.
This past week, I have written deals for $75,000, $116,900, $95,000, and $145,000. Buyers are not acting. What a great time to buy…especially with the first time homebuyer tax credit.
Give me a call if you want to learn how to increase your net worth by buying real estate this year.
