Arizona home buyers – it’s a frustrating time for some of you in the current market. Interest rates are at all time lows and house prices are low. So what is one of the issues that is keeping a lot of folks from being able to buy a home?
This week’s Arizona Republic newspaper ran an article that covers a lot of the issues. Low inventory to choose from, banks continuing to hold back foreclosed inventory and cash buyer / investors who have an edge to make a deal happen quickly over a buyer who needs a loan.
If you are a buyer looking for a home, prepare yourself for some frustration in the current buying process. Plan that there may be bidding wars on “good” properties. And plan you will likely need to pay more to ultimately get a home than the listed price in many cases.