Fountain Hills real estate! Whether you are thinking of buying or selling a home, you can be optimistic during 2013. Here are 5 reasons why!
1. Mortgage interest rates are expected to remain low. According to industry analysts, rates are likely to remain less than 4% throughout the year.
2. Nationwide, home prices are expected to climb by about 3%.
3. New housing starts are predicted to reach 1 million units nationally by the end of 2013.
4. While the Federal budget debate is not complete and spending cuts may occur in the future, the worst-case scenarios in the "fiscal cliff" have been averted.
5. The Greater Phoenix real estate market closed 2012 with strong momentum! Median home prices in November 2012 were 31.9% than November 2011. This marked the 12th consecutive month of year-over-year price gains.
At the same time, distressed property sales in the Phoenix area show a steady decline. Bank-owned home sales represented just 17.2% of the market during November 2012. When you consider that foreclosure sales accounted for over 66% of the market in early 2009, we've made amazing progress!
Arizona real estate demand comes from domestic and international investors, retirees, relocating professionals, first-time home buyers and move-up buyers. In fact, the latter group is causing sales trends towards larger, well-appointed homes. We are seeing good sales activity in a variety of price levels, which further proves that the market is not being driven by distressed properties.
Some challenges will remain ahead of us during 2013. Mortgage loan approval can still be difficult for credit-worthy home buyers. Meanwhile, conservative home appraisals will keep the pace of sale price increases in check. Homeowners who wish to sell, but remain underwater in value, continue to wait for higher prices which keeps home inventory lean. All considered, real estate in Fountain Hills will be attractive for home buyers, but also very competitive!
Overall, Fountain Hills
is positioned for home sales growth during 2013! We have the advantages of natural beauty,
recreation, proximity to corporate centers, and ample shopping and
dining. If you are considering a new home in Arizona, start by looking at
the beautiful Fountain Hills homes available now!
Whether you are buying or selling a Fountain Hills home, put your trust in my 33 years of local real estate experience! I can help you make the most of today's opportunities in the Fountain Hills real estate market. I will also provide you the courteous, professional service you can count on! Contact me today for help with all of your real estate needs!
All the best to you in the New Year!