Goodyear Buckeye Real Estate Agent

kronester — Sun, 31 Jan 2010 06:02:48 +0000

Goodyear and Buckeye real estate has certainly had its share of ups and downs over the past 5 years. Think back to 2005. Prices were soaring. Buyers had to bid WAY over on a house just to be considered. Builders were hosing lotteries to see who could have the privilege of buying a house that just had 2 price increases over the past week. Everyone thought the bottom could ever fall out of a commodity this valuable. Now, let’s fast forward to 2007. The bottom did fall out. Sellers couldn’t sell because short sales had not yet hit the mainstream. Buyers were not buying because no one knew when the bottom would hit, and no one wanted loose $20,000 over the next 6 months. The market was in a virtual standstill. We didn’t start seeing signs of life until around 2008. Buyers woke up and said to themselves, “this is really a bargain, I better get in now!” Foreclosures were still dominating the market and prices were way down from 2005 levels, but at least houses started moving. Now, fast forward to today. The number of pending & closed sales is growing every month. The average sales price across the valley has INCREASED over the year. Average days on market is decreasing every month. So, now we are “skipping across the bottom.” It is only a matter of time before the market rebounds. Granted, it will probably never reach 2005 levels again, but values will come back. It always has in Phoenix real estate.

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Goodyear Buckeye Real Estate Agent