Market Conditions - Kent Gagon, Phoenix Metropolitan Area, AZ, Realtor

Phoenix market expert Kent Gagon, who has been selling new and resale homes in the Arizona Southeast Valley for 10+ years, reports that despite much of the negative news out on television these days, the Phoenix Area metropolitan market and surrounding areas still seems to be doing well. The foreclosure epidemic combined with low interest rates, has made an excellent buying opportunity for many buyers looking for a great deal on a home. It is true that financing is harder to get these days but, it is not impossible. There truly may not be a better time to buy than now. In Kent's opinion the market will continue to see slow improvements. The number of foreclosure homes will most likely continue to rise, but again this makes for great buying opportunities. Kents thinks pricing will most likely start to level out in the next few months of this new year. Outlying areas may still see a decline in pricing, but prices are already low enough that a home cannot be built for what it can be bought. The conditions of the market are always based off of supply and demand many people are taking advantage of these low prices and picking up the homes knowing that real estate has its cyclical trends and prices will come back and appreciate again. The supply exceeds demand right now, but as people begin to feel more confident in the economy and the real estate and stock markets they will begin to buy again. Phoenix is getting a lot of attention these days it has been named one of the fastest growing cities in numerous publications. It has been named one of the best bargain cities for real estate. These are important things for both buyers and sellers to be aware of these can cause a shift in the market quickly.

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YouTube | January 29, 2009

Tags:. .resale. .outlying. .cyclical. .epidemic