Just as the temperature begins to cool, Northern Arizona is heating up as a wonderful place to live. The current decline in market absorption in Prescott has caused a drop in inventory, which allowed prices to go up. In short, more homes are being sold than are coming onto the market. So now, you are wondering whether your ship has sailed. With all the turmoil of the last few years, it is often confusing to know just when is the right time to buy…or to sell, for that matter. It just makes sense to ask an expert in the field.
There is good news that the real estate market is stabilizing, both locally and nationally. Interest rates remain attractive, but the cost of borrowing money is inching up, causing the price of homes to increase. Potential homebuyers are discovering that stronger offers are necessary as inventory levels of well-priced homes continue to be somewhat of a problem. Buyers without a solid game plan and prompt notification of new listings are left on the outside looking in. Buyers are beginning to accept that the search for their dream home is more elusive than before. But if they are ready and willing to make a strong offer, they still can be successful – with the proper guidance.
Whether you are selling or buying, you need to carefully evaluate all of the data surrounding the value of any property so you can either price or bid accordingly. Check out Realty Executives of Northern Arizona’s current listings online. It contains all the tools and information you’ll need to make a wise decision. Find it all at www.realtyexecutivesaz.com. QCBN
Don Bonnell, broker and owner of Realty Executives of Northern Arizona, represents nine separate offices and manages more than 130 real estate professionals. His background covers the full spectrum of real estate management positions. Prior to joining Realty Executives of Northern Arizona, he held senior positions at several other nationally known real estate brokerages. His areas of specialization include turn-around management, real estate operations, sales training and ancillary services implementation.