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Price Increase on Phoenix Properties by Maureen Karpinski
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Price Increase on Phoenix Properties |
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Real Estate,Internet Marketing,Recreation & Leisure
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Phoenix properties is in demand these days with so many buyers that are qualified to get a new home but the housing supply is nowhere near the strong demand from buyers. The lack of inventory of Phoenix homes for sale pushes a price increase up to 99% of the selling price that is listed in the market. For several years buyer and seller traffic have steadily grown causing bidding wars. Phoenix properties usually go to the hand of cash buyers or investment companies that buy properties in bulk. This leaves traditional buyers with a few Phoenix properties available resulting to higher biddings. Causes of Low Inventory on Phoenix Properties There are several factors that attributes to the low inventory on Phoenix properties. While sales during the winter months are typically low and the numbers of Phoenix homes for sale are declining due to low listing of foreclosed properties. As of June 2013, foreclosed Phoenix properties that were for sale were only 10% of the total listing due to short sales of other properties. Some were talking about whether the banks are holding the supply of Phoenix homes for sale so they can increase the price when there is high demand. While it could be true, there are also several reasons why they cannot sell Phoenix properties right away such as properties may need repair before it can be sold or have to undergo property preservation. Some owners are unable to sell their Phoenix properties because they are in great disorder with their mortgage. The fear of not being able to find a new house to live in is another factor. But majority of them are holding the hope of getting a higher price for their property. Roles of Phoenix Realtors during Low Inventory Just like other realtors all over the world, Phoenix realtors can make a huge difference in the process of buying and selling Phoenix properties. They make the transaction between the seller and the buyer much easier and efficient. The low inventory on Phoenix homes for sale could mean a lucrative deal for buyers but with the help of Phoenix realtors finding the best home at the most reasonable price will not be an issue. Many of Phoenix realtors are specialized on certain areas in the city. For example, there are those that specialize in central Phoenix. It is no surprise that low inventory on Phoenix properties with ever increasing buyers translates to price increase. Most consider this as the sellers’ market because Phoenix realtors are getting multiple offers from buyers. This means prosperity for Phoenix AZ real estate or the whole Arizona estate as well. To sum it up, Phoenix Properties are the best deals that one can get to enjoy a great lifestyle of urban and upscale living. These are the qualities that will make Phoenix properties and also a Scottsdale property easy to flip for investors. The lack of inventory on Phoenix properties provides them the opportunity to get the best return from their investment though this may not be good for someone who is buying a second home from Phoenix properties. Maureen Karpinski Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties
Related Articles -
Phoenix Properties, AZ Real Estate, Scottsdale Golf Communities, Phoenix Realtors, Scottsdale Homes For Sale, Phoenix Homes for Sale, Scottsdale Relo,
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