Is this the best time to buy a home in Scottsdale Arizona?

Honestly, regardless of location or market condition, there is really no such thing as the "best time" to buy a home - and this includes Scottsdale Arizona real estate. A number of factors come into play when considering the purchase of a Scottsdale Arizona condo or other type of home.

• interest rates
  
• demand relative to supply
  
• demographic projections
  
• mass psychology
  

Most experts agree the market will adjust this year; balancing the housing supply with the demand. Discount mortgages and "adjustable-rate mortgages" (ARMs) generated a surge of refinancing, however, interest rate increases became burdensome for many, resulting in a glut of sellers and falling housing prices.


This downward trend is happening in the Phoenix-Scottsdale region, however, less dramatically. Far from a "collapse of the housing market", Scottsdale is simply experiencing a normal market correction. The reduction in Scottsdale Arizona real estate prices have been buffered in comparison to less desirable real estate markets by :

• a strong local economy
  
• a substantial job growth
  
• an influx of new residents
  

Sellers in the Scottsdale area should consider what is needed to replace their current home, and what the current market will bear. Inflexibility and an unwillingness to negotiate may keep your house on the market far longer necessary. Understand that it may take three months - or longer - to find a qualified buyer if you are not prepared to negotiate. In this case, you may want to wait six months to a year before selling.


On the other hand, there hasn't been a better time to buy Scottsdale Arizona property. Many sellers are highly motivated and are happy to negotiate a favorable price. Just be sure you are buying for the right reason: the days of "flipping" properties for quick profit is over. It is unlikely the dramatic run-up in home values that led to such practices - questionable from an ethical standpoint in any event - will be repeated any time soon. Scottsdale real estate is an excellent investment, but it is a long-term one; keep this in mind when shopping for a home or a condo.

Best Areas for Shopping in Phoenix

Long-time and new residents alike both agree world-class shopping abounds in Phoenix. Whether you seek excellent dining or shopping, Phoenix has it all. Residents who have purchased Phoenix homes or Phoenix condos will be pleased to discover several appealing shopping destinations conveniently close by.

1. Fresh Food
   
   One of the best locations to shop for great organic, locally grown food is the Downtown Phoenix Public Market. It features a unique atmosphere of food, art and music. The Market is a great place to support local farmers and enjoy some of the freshest food in the area. There is a diverse selection of wares available at the Market, including fresh crackers and biscotti, root beer, fresh eggs, peaches, heirloom squash, Armenian cucumbers, salad greens, Kaleidoscope carrots, and figs. There are also glorious flowers and plants available to cultivate in your own garden.
   
   
2. Exceptional Eateries
   
   Phoenix boasts a great selection of restaurant options. The following are only a few of my favorites :
   
   
   
   • The Lalibela Ethiopian Cafe serves a taste of the exotic. Featured are classic Ethiopian dishes such as kye sega wat, or cubed beef simmered in spices. Vegetarians will happily devour the red split lentils (misir wat) and tikil gomen, an offering of spiced carrots, cabbage and potatoes.
     
   • Pizza Heaven serves garlic-laden pizza with tangy marinara sauce and fresh golden crust in its homey, casual setting.
     
   • Taco Shoppe Frybread and Long Wong's both serve an outstanding Native American treat called Fry Bread
     
   • Tapino Kitchen and Wine Bar features a great tapas menu, a wonderful happy hour with excellent wines, and an outdoor lounge that provides the perfect setting for a late drink in Scottsdale.
     
   
   
   
3. Dramatic Decor
   
   Phoenix's unique blending of cultures and southwestern style can easily be carried into your home's decor. There are many fine sources in the area.
   
   
   
   • El Amigo Del Perico is the place to go for decor that reflects Phoenix's unique splendor. The store boasts a treasure trove of Mexican imports, Zuni, Navajo and Hopi Native American jewelry. You'll also find wall hangings and decorative tiles.
     
     
   • John C. Hill Antique Indian Art in nearby Scottsdale features amazing Native American art and artifacts. They carry fine Navajo rugs, silver and turquoise jewelry and beautiful baskets.
     
   
   

What to Expect From Your Phoenix Realtor

This short list provides you with what to expect from a knowledgeable Phoenix Realtor and help to make sure that you are successful in buying the Phoenix or Scottsdale property of your dreams.

1. You should expect your Realtor to be focused solely on buying homes. There should be no distractions on finding you the best home to meet your needs.


2. Your Realtor should provide close consultation with with you to determine what you need and want in a home.


3. A Good Realtor will help you with all of the different loan options that are available to you from your lender, and be there to answer your questions. This includes assistance in getting your loan pre-approved and obtaining a Loan Status Report, which is a required report for your Arizona Purchase Contract.


4. You should expect your agent to be on top of the search and who checks daily for new listings, matching them to your desired criteria.


5. Your real estate agent should also set up tours for you of prospective properties, and help save you time by previewing properties for you, reporting back to you often.


6. An experienced Phoenix Realtor should know how to negotiate and have a clear understanding of the housing market to come up with the most successful offer on the home.


7. You want a Realtor who will be there after all the paperwork is signed to make sure all of the inspections and repairs get done properly, and that the paperwork with the lender and the title company is proceeding smoothly

Using this short list of expectations as a guide you will have a greater chance of finding success in finding one of the Phoenix condos or Phoenix homes for sale that fits perfect with your needs and finances.

A Buyers Market?

For those individuals considering buying a house in Phoenix Arizona, there may be no better time than the present to make a permanent home in Arizona’s Valley of the Sun.

By now, most people have realized that home values in many parts of the country have been falling. Questionable lending practices by the mortgage industry have been called into question and many people around the country are indeed having difficulty. Along with this is the inability of those with mortgages to meet their payments which has caused many lenders to go under.

As a result there are many very motivated buyers in many parts of the country. For those interested in the Phoenix housing market, there indeed has been some dip in the value of houses, however, due to a strong local economy and an large influx of new residents, this dip has has not been overly dramatic. The median home price, while somewhat lower than a year ago, is still over $20,000 more than it was at the height of the boom in 2005. Sound advice would be that when buying a Phoenix Arizona home or condo, you should do it with the intention of staying in that home for at least five years. At this point in time looking for quick purchases as a chance to “flip” the property for a profit would a financial mistake.

For individuals who do want to move to the area, consideration of all of the positive s to be gained from a move to the area should be taken into account – issues such as the quality of life, the strength of the local economy and the many advantages of living in the Phoenix metro area with all that it has to offer. For individuals and families purchasing one of the many Phoenix condos or Phoenix homes for sale will most likely be making an excellent long-term investment. While nobody can predict the future, all indications point to a thriving, growing community in the Valley of the Sun in the coming decades.

Phoenix Luxury Real Estate

Phoenix Arizona real estate provides ample opportunity for individuals in the market for luxury homes, properties and estates. There are many reasons that bring people to the area seeking luxury homes and estates. Of the many reasons, the one that is no secret is that the Phoenix area is world renowned for Golf. Home buyers from around the world come to Phoenix to be close to some of the best golf course available. Other draws for the luxury home buyer to this region include the weather, scenery, outdoor lifestyle, culture, arts, and shopping.

In response to those seeking Phoenix luxury homes, a world-class specialty housing market has evolved. Some of the standard features expected of Phoenix luxury homes include: location on prime lots that feature spectacular views with custom-built architecture and/or historical significance. In addition, Phoenix luxury homes are frequently located near amenities that are in high demand, such as golf courses and shopping districts.

Because of world wide interest, the luxury housing market in Phoenix offers a higher standard and comes with the very best materials and craftsmanship. Unlike ordinary real estate, which is advertised and marketed primarily to a local market, these luxury homes attract upscale buyers from all over the country – and even the world. Part of what makes these homes unique is that they undergo several inspections prior to sale, and buyers can also have the privilege of purchasing anonymously through an assignee. This is particularly valuable for those who are well-known who wish to own a home outside of Los Angeles or New York City while protecting their privacy.

Once you have made the move, you will find that Phoenix luxury real estate is located in a climate that is dry and warm, even in the winter. For the health conscious, the area has long been recommended by doctors for patients with respiratory problems.

These owners also enjoy 300 days of sunshine per year, world-class shopping and entertainment, and their choice of hundreds of highly-rated golf courses and other recreational opportunities throughout the area.