5 Ways The Arizona Real Estate Market Is Changing In 2020

5 Ways The Phoenix Real Estate Market Is Changing In 2020

Are you thinking about buying or selling real estate in Arizona? Learn about these 5 ways the real estate market is changing in 2020.

The real estate market is always changing. In 2020 it is important to know what to expect before you buy or sell real estate in Arizona. In our latest post, we will look at some of the ways the market is changing and what you can do to be prepared. If you have questions regarding any of the topics below, don’t be afraid to contact our team! So… what can you expect from the real estate market in 2020?

The Rise Of iBuyers

The internet has opened the door for us to do so many things remotely. You can buy just about anything from toilet paper and books to cars and even houses all without leaving your couch. You can even sell cars and real estate online! While this convenience is great in all sorts for ways, there are some things that are better done face to face. Many people consider selling their homes to an iBuyer, without realizing they may face a few  hurdles. Selling to someone who isn’t local and who can’t come see your house for themselves isn’t always the best idea. Also you may not have considered various fees that can come up through selling this way. While iBuyers are gaining in popularity, real estate owners are realizing that selling to a direct buyer who is local and experienced will help to get a great price in less time. And when you work with Southwest Land Deals, there aren’t any commissions or fees to worry about.

Agents With Multiple Solutions

Agents are bringing more to the table than just listing property or taking buyers to see available real estate. More and more agents and investors are working to offer multiple solutions to Arizona real estate owners who need to sell a property fast. People are realizing that the real estate world isn’t so black and white. Home sellers in Arizona require multiple options in order to successfully sell a property they no longer want. There is more than one way to sell land fast in Arizona and companies like Southwest Land Deals are here to help you find the right solution for you, your property, and your situation.

Interest Rates Are Dropping

In an effort to stimulate economic growth, the Federal Reserve will lower the interest rates. With this most recent cut, real estate buyers are finding loans with interest rates at 50-year lows. For example, if you live in a house that isn’t right for you, the time may be right to sell your house fast in Arizona. You can then put your selling proceeds down on a new piece of property, financing at rates that are unheard of. If you have been thinking about selling your house in Arizona to find a house that is better suited for you, now may be the perfect time to buy and take advantage of these surprisingly low rates! Or, if you’re interested in buying land, Southwest Land Deals can offer financing options to help you secure an ideal property where you can build your own home.

Home Prices Are Slowly Going Up

While real estate always tends to appreciate, the rate at which properties are currently appreciating is relatively slow. We work with many real estate owners in Arizona who have held onto the wrong property for far too long. Maybe they purchased right as the bubble burst and they think one day the price will bounce back to what they paid. Or perhaps they inherited a piece of land that they no longer want. Unfortunately, for many people who purchased a house in Arizona during that time, they won’t be able to capture what they once paid. In 2018 home prices rose by an average of around 5%. In 2019, that number dropped to 3.3%. There aren’t any signs that home prices will drastically rise in the near future. If you are ready to sell for something new, now is the time to make it happen.

Baby Boomers Are Selling

Baby boomers all over the country are beginning to sell off their unwanted properties. While some are moving into assisted living, others are simply enjoying the benefits of living in a smaller home. Once the kids have gone, a large house becomes more of a burden than a blessing. With less to clean, maintain, and pay for, baby boomers all over Arizona are exploring the benefits of a fast sale. Seniors all over the US are selling their too-large homes and using the proceeds to travel, knock items off their bucket list, and purchase better-suited properties.  If you are a senior real estate owner who is ready to sell your property in Arizona for something that makes more sense, we know exactly how to help. We help people who want to downsize, even if they have lived in the house for many years.

Do you have questions about the changing real estate market and how it will affect you when buying or selling a land in Arizona? Don’t be afraid to reach out! Our experienced team is happy to help you get answers to all of your real estate questions!

To learn more about the current state of the real estate market in 2020, reach out to our team today! 480-442-7787

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