Your Source for Fountain Hills News and Real Estate Information: Are Fountain Hills Homes Affordable for First-Time Buyers?

Monday, April 7, 2014

Are Fountain Hills Homes Affordable for First-Time Buyers?

Conflicting headlines about Arizona's real estate market can confuse first-time home buyers who are looking for direction. For example, Zillow recently made a dour statement that nearly half of Phoenix-area homes are unaffordable.

Days later, Realtor.com posted an article saying that the greater Phoenix area was among the Top 10 metros for first-time home buyers.

Is the glass half-full, or half-empty? Let's take a look at the basis for each claim!

Zillow's computations were based upon median home buyer income of $53,556 against a median home price of $187,900. A home buyer fitting this scenario would spend about 22.3% of their monthly income on a mortgage payment, which is well within traditional measures of affordability.

Zillow's pessimism is largely based on the limited supply of Phoenix-area homes priced under $200,000. However, by their own math, 56% of current listings are affordable for median wage-earners. It just isn't as exciting to phrase it that way.

Meanwhile, Realtor.com lists the greater Phoenix area among the top metros for first-time home buyers based on several factors:

Strength in local employment figures
Median home prices
Median age of inventory (days on market)
Inventory of homes of sale
Popularity of location by home search activity

Based on Realtor.com market data from February 2014, the greater Phoenix area was ranked #10 in home search popularity. Homes were spending an average of 59 days on market, which is an indication of good home buying activity. The glass is half-full!

Closer to home, Fountain Hills has added new home listings in recent weeks, improving the supply of affordable homes for first-time buyers. We have several attractive condominium units that are in walking distance to Fountain Park with beautiful views. Do the math for yourself, and you'll see why this is a great time to buy your Fountain Hills home!

Ready to find your Fountain Hills home? Let me help! As your Accredited Buyer Representative, I will guide you throughout the home buying process. Consider me your one-stop resource for the latest home listings and community information!

I have helped Arizona home buyers for over 30 years, and I'd like to help you too! Contact me today for complete home buying help in Fountain Hills!

Tina Nabers
Nabers Property Management & Real Estate
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1 comment:

UnknownOctober 23, 2014 at 12:23 AM
Comprehensive buyer and seller real estate services, including finding homes, listing homes for sale, market analysis, property evaluation, and more for Father christmas Rosa Beach.30A Real Estate
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Hi, my name is Tina Nabers. Selling Real Estate in Fountain Hills is not a job for me, it's a lifestyle. I relocated with my family from Tempe, Arizona in 1973 and began working in what is now the oldest real estate office in Fountain Hills (Nabers Realty) in 1977. I have literally grown up in Fountain Hills since it began.

I am a full time Realtor and believe ongoing education is key to staying on top of the dynamics of the real estate industry. Besides taking the required 24 hours of education every 2 years, I like to take additional real estate classes to further expand my awareness of the changes occurring yearly in this industry. I currently hold the designations of Accredited Buyer Representative, Graduate of the Realtor Institute and have my e-Pro designation which is the National Association of Realtors Technology Certification Program.

With my dedication, knowledge and reliability, I have assisted hundreds of Buyers, Sellers, and Investors realizing their dream of owning real estate in Fountain Hills. I'm sure I can help you too! I know the market and the market trends, after all, I've lived thru a couple of them myself over the years! THIS IS THE BEST PLACE TO LIVE, WORK & PLAY. I know because I do!

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Nabers Property Management & Real Estate is a full service real estate company with over 30 years of experience serving the community of Fountain Hills, Arizona. Conveniently located in the center of town, we invite you to stop by our office and introduce yourself. We are members of the Scottsdale Association of Realtors, Arizona Association of Realtors, National Association of Realtors and the Multiple Listing Service.

Whether you are a first-time buyer, property owner or investor, long term tenant or a visitor looking for a seasonal rental, Nabers Property Management & Real Estate Company can assist you with all your real estate needs.

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Fountain Hills has been well known for its Fountain, its Great Fair, its Fountain Festival, its magnificent mountain views and very friendly people. Back in 1993 it was voted as one of the "50 Fabulous Places to Raise Your Family" and was featured on Oprah. After that review the community quickly became both a vacation Mecca as well as a place for permanent settlement. Accommodations from resort condos, bed & breakfasts and full service hotels have attracted vacationers as well as home hunters and investors. In the May, 2006 issue of the Phoenix Magazine's Annual "Best Places to Live" in the Valley, Fountain Hills was voted #1 out of 22 Valley communities!!

It was based on such issues as property tax rate, population, crime, school test scores and student-teacher ratios, park acreage and miles to Sky Harbor Airport, to name a few. When asked by visitors if Fountain Hills is a nice place to live we suggest they go to any local grocery or retail shop and at random, ask any shopper the same question. Obviously, residents will give the most objective answer and, as we can corroborate, we feel it is "one of the best places to raise a family", live, work and play.... Read more about Fountain Hills!