Our agents specialize in assisting all type of buyers with the purchase of Greater Phoenix Arizona real estate whether the real estate is a new or resale home, or a custom home site. Whether you are a first time home buyer, a move up buyer, or an investor, the Phoenix real estate market presents tremendous opportunity.
First Time Home Buyer
While the down turn in the Arizona real estate market has shaken many current and prospective Phoenix Arizona home buyers and sellers, the reality is that the home and land prices seen during the 2003 – 2007 boom were not sustainable and obviously inflated as a result of speculated demand. Phoenix Arizona real estate prices have pulled back considerably and are even more affordable than “pre-boom” pricing. Combine that with EXTREMELY favorable interest rates and it is almost a no brainer to buy vs. rent. Almost every buyer we help purchase in this market is paying less than they currently paid in rent. It does take about 3% down to qualify for an FHA loan, but there are still some areas in the Phoenix Metro area that offer 100% financing through the USDA loan program. Don’t be intimated by the loan process. While guidelines are tougher, it is NOT impossible to get a loan. Let us help you understand what is required.
Move Up Buyers
By definition, a move-up buyer is a buyer who currently own a home but would like to buy a bigger or more expensive home. In order to do that, most move-up buyers must sell a house first. In a real estate market like the one we are in we find that many times sellers are paralyzed to sell their home at the current fair market value. They have to take a loss to do so. However, in some cases the “loss” is temporary. If the seller is able to “buy” in that same market AND potentially secure a long-term fixed rate mortgage at 1% less than their current mortgage, then the loss is “tempory” AND they will have the house that they really want to live in long term. This type of transaction takes some planning and market knowledge, but we do it all the time and are here to help.
Whether you are an investor who likes to rehab property and “flip” them or you are an investor looking for long term cash flow, we can help. Many of our agents are rehabbers and landlords ourselves so we have market knowledge and personal experience. We are also represented at the foreclosure auctions every day so we can help you purchase there as well.
Currently we are seeing tremendous opportunity in investors purchase multi-family buildings. There are excellent cap rates are 4-plexes and larger buildings as well. These can be purchased in distressed situations or rehabbed so you don’t have to deal with the rehab if you just want the cash-flow.