Spring Training, Spring Break, And Other Reasons to Buy a Home March 2023
Three Great Reasons to Buy an Arizona Home Now
1. If you buy now, many lenders are offering programs that allow you to refinance with little to no cost when rates do drop. And if rates do rise, there is a cost to waiting.
2. Secondly, most homeowners today are sitting on major equity. Based on the continued growth of the Valley and the lack of houses for sale, you can expect prices to shift up again in the near future.
3. Lastly, we may actually be at the bottom of the market, which is always a good time to buy.
Luxury Home Marketing Update
Understanding real estate cycles are important as they provide reliable information about how and when to buy and sell. We have moved out of 2 and ½ years of the most dynamic luxury real estate markets, with experts now speaking of ‘correction’ rather than ‘crash.’ Yep, that's Bella as a kid at a Barrett-Jackson event! (No, she didn't buy the car)
While some markets are being affected by downward pressure on prices, others are still reporting increases. This disparity is seen when looking at markets that hold the opportunity for either more affordability or potential price growth.
It is predicted that the millennial generation in 2023 will become a strong investor in the entry-level luxury real estate market, while the mass affluent will continue to increase demand for second and third homes.
The very high net worth are looking for homes that offer more than just luxury. Lifestyle has become their driver, and homes that offer unique experiences, access to adventure, and are filled with high-end amenities are more of their concern than worries about higher interest rates.
Download the full Luxury Home Marketing Report here.
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Is Now a Good Time to Buy or Sell a Home? Call Denise at (602) 980-0737, celebrating a nearly 40-year career in Metro-Phoenix Real Estate.
