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.