Due to an unusual shortage in inventory of homes for sale in East Valley, now is the perfect time to sell your home. The Reeves Teams has been watching the Arizona MLS very carefully and we can see that buyers are very active right now and houses are being snatched up. While Troy Reeves believes that the market will continue to grow in East Valley, it will do so at a more manageable rate and buyers will no longer be making knee jerk decisions based on low inventory.
Based on our expert projections and by gauging the current market, we do not anticipate there being a better time in the near future to list your property for sale.
Get the most money for your home by acting on an extremely ideal situation in the market that has been created by a very specific set of factors – these unique factors are inspiring people to make offers 5-7% above list price. With buyers so ready to purchase a home that they are making those kinds of offers for already inflated prices, your home is a hot commodity right now! Read on to discover why the next 90 days could mean the best offers and quickest sale of your home.
Why is NOW so Important?
The urgency to sell now is based off of a frenzy created in the market due to the lowest inventory of homes for sale over the last 26 weeks, and counting. April, May, and June are by far our busiest months for showing homes with May, June, and the beginning of July being our top months for closing. People are getting their tax refunds back and can afford the down payment on a new house – this is something people wait all year to do! Parents are looking to move and get settled into a new community by the time their children go back to school and are not going to wait until the new school year starts to relocate.
Why This Year is the Year to Sell
Anyone who sold a home in the 2005-2006 year range remembers a time when multiple offers were being made on homes, and that was during a time when prices were around double what they are now! The situation is very similar in the sense that there are fewer homes for sale than there are interested buyers. Adding to the situation is the fact that there are new six figure industries establishing branches in the area and East Valley is becoming home to several high dollar employment positions – this is helping the median price range of East Valley real estate! With the economy showing signs of stabilization, people are more confident now than they have been since the crash in making important financial decisions.
What’s Going to Change in 3 Months?
What we are going to see very soon is the construction market catching up due to the financial recovery of individuals and businesses. Home builders will start building again very soon and the amount of new homes on the market is going to match or exceed demand. The summer is also a major time for the new home industry since longer working hours allow builders to complete homes in less time. When the new builds catch up to the demand, there will be far less buyers willing to compete with high offers for your home.
In three months, people will also be less excited about looking for new homes when they are facing back to school expenses and the approaching holidays once we roll into the fall season. On the other hand, homebuyers do not want to start moving when it is super hot out and prolonged periods loading and unloading moving trucks become dangerous. Sellers have also caught word from the local and national news that the market is coming up and the REO/Bank owned business is on its way down, meaning short sales are not nearly as common as they were this time last year. These factors create a very specific window, and this may be the best year in almost a decade to sell.
There’s No Time to Wait
Arizona residents should not wait any longer to list their homes as we believe the window will be closing over the next two months. When the amount of homes listed versus wanted catches up, the market will stabilize and homeowners will find that they have to settle on low ball offers. There’s also no need to hold out on new builds, the Troy Reeves Team can help you purchase a new build at no cost to you! Let us help you get your home sold quickly and at an amazing price, but don’t wait too long or you might miss the best offers for years!
“by Troy Reeves” at Google
Great article. I would like to see some stats on new home construction volume.
Nice job looking ahead at the future with your assessment. I agree with your predictions and would encourage someone who is thinking of selling their home to read your article and make a decision now rather than wait. I am not a realtor and I have observed a significant increase in construction throughout the valley over the past six months and I have noticed there have not been as many homes for sale as in the past few years, especially for forclosures and short sales.
Great Analysis Troy! Very informative for those of us living in the East Valley! Love the graphs as well. I will pass this on to anyone I know thinking of selling.
Rob please do and thank you! Continue to come back to our site for informative information on whats happening in the East Valley! Again Thank You
Thank You Connie(but you may be a bit favorable to your Sons team) Thank You again for reading….And we(The Reeves Team) do think we have a good handle on the East Valley Real Estate anyway!
This is a great article! We enjoy working with The Reeves Team as they are extremely professional and very knowledgeable on the East Valley market. We have referred many buyers to them with great success. Thanks for the information….
Very interesting information! The Reeves Team seem to have their finger on the pulse of what is really happening in the East Valley, not only in the real estate market, but the over all enconomy.