Thanks for taking the time to stop by our blog to learn more about buying and selling in today’s current Greater Phoenix Real Estate market.  Last week, we talked about five key steps to take when preparing to buy a Greater Phoenix home.  This useful information was designed to help you set a foundation for a smooth and stress-free home buying process.  But many of you may still be wondering if now is even a good time to buy a Greater Phoenix home.

 

We know that the last few years of the national housing market have been a little shaky, but as the market continues to improve, there are some solid reasons why now is a great time to buy a home in Mesa, Peoria, Glendale, Scottsdale, Phoenix, Sun City or any of the surrounding areas.  Let’s take a look at the top five reasons to buy a home now in Greater Phoenix

 

1. Move-in Ready Homes- According to recent studies by the Harvard Joint Center on Housing, there have been many home owners who have held off on selling their home. They’ve been waiting for the market to pick back up, and while waiting have either put money into remodeling or have kept their home in good repair. They wanted to make sure that their Greater Phoenix home was in ideal condition before listing since it is a buyer’s market with many other homes from which buyers can choose. That’s great news for those who are buying, as many homes in Greater Phoenix are in move-in ready condition!

 

2. Low Home Prices- In this buyers market, the competition for sellers is high. Greater Phoenix homes are selling at record low prices making now a perfect time to cash in on a great deal.

 

3. Low Mortgage Rates- Buyers are able to begin building equity right after they close on a home because of today’s lower mortgage rates. There’s hope that these low rates will encourage potential buyers to jump in to the Greater Phoenix Real Estate market and help with the healing process. 

  

4. Low Down Payment Mortgages Available- Low-down-payment financing through Federal Housing Administration-insured mortgages is available as an additional incentive to buy a house now. Down payment minimum requirements also fluctuate and may increase as the market heats up, so potential buyers with less cash to close on a deal may be well-advised to buy now.

 

5. Lenders Offer No-Fee Mortgages-  Many banks and other lending institutions are waiving mortgage loan generation and other fees and points (each point represents 1% of the loan amount), thereby reducing the cost of buying a Greater Phoenix home.

 

We hope that, as you consider buying a home in Greater Phoenix, these five factors will help you make your decision.  Our goal is to provide you with the best information possible so that your experience of buying a home in Greater Phoenix is positive and efficient. 

 

As experienced Greater Phoenix Real Estate agents, we’re here to help answer any questions you have about the home buying process and can be a great resource along the way!  

 

The Russo Team
Greater Phoenix Real Estate Experts

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