It May Be Surprising, But Its Good News!
I love my job and I know that I’m so lucky that's the case! It makes me very happy to talk to people day after day about their favorite thing… their home. I love that I am trusted to help with what is often the biggest investment in a family’s portfolio, and quite frankly, I love doing deals and helping people get the most from their purchase and sale.
It’s obvious that a lot is going on right now with the covid crisis, school uncertainty, economic frailty, an election year, and other societal factors. One would think that home sales would be slow because of all the unknowns, however, the exact opposite seems to be the case. I’ve only seen the housing market this robust a couple of times in my (very long) career, and no matter what the reason, if you’ve been sitting on the sidelines waiting for the perfect time to jump in, the time is now.
I don’t pretend to predict trends, but I can give you the facts and compare them. I can say that all indicators are that this upward trend is staying around awhile.
I believe that people have reconnected with the value of home life. The desire to create a safe, comfortable and beautiful environment is more important now than it has been in our lifetime. It may sound trite, but a kitchen to enjoy while not eating out, a playroom for the kids while no extracurricular activities, a place to comfortably home school, a family room for movie night, as theaters are not an option, and a yard to enjoy as that is our current primary source of entertainment, are all the keys to surviving as we hunker down. People are seeing the importance of loving their home instead of simply tolerating it. Staying home now has a whole new meaning.
We often forget to appreciate all that makes Arizona so special, especially as we suffer through the summer months. But it’s still one of the most sought after places in the nation. We have numerous out of state buyers (and I mean lots) coming to town and buying in all price ranges. The numbers are truly astounding, and right now, Arizona has the largest appreciation of home values in the country. The luxury market is at hot as ever with homes in both Paradise Valley and Arcadia in the $3,000,000 plus range flying out the door. You read that correctly… flying out the door. All price ranges are seeing substantial movement and Arcadia, in general, has a lack of inventory for the first time in many years.
So, what does this mean for you? If you are a buyer, the time is now, as prices may continue to rise, and if you’re a seller, now is the time to take advantage of the pool of buyers, the rising demand and the lack of product available.
If you would have told me last March when the pandemic hit, that this is where we would be today, not only personally as we all still shelter in place, but also in the residential market, where it’s never been busier, I would have probably told you that you’d lost your mind. So just like every other unpredictable, crazy thing happening in our world, add home sales to the list. It’s a nice bright spot for your investment in a time of darkness for so many.
Feel like talking real estate? Give me a call. I always answer my phone.
Stay Healthy, Stay Safe, and Stay Positive!