While prices are low and interest rates are at record lows, this can be a good time to buy. One of the best deals on the market is Pierre on 5th where 1961 meets the 21st Century. This apartment building was bought and 
converted to condos at the height of the market, then, as many others, they went bankrupt. A new owner bought the community and reduced the prices to below even today’s appraisal and they are selling fast. You’ll get granite counter tops, upgraded cabinets, Kitchen back splashes in most units and upgraded flooring. Many come with stacked washer and dryer but all have at least the hookups for them. 1400 square foot 2 bedrooms and 2 baths start at $119,900. Call me for an appointment, you shouldn’t miss these move in ready condos. They are one block from Safeway and 5 blocks from the Light Rail. You just can’t beat these right now. Check out more listings at AZNativeProperties.com.
July 27, 2010
Phoenix Real Estate Market, July 2010
July 15, 2010
Phoenix Real Estate and Low Interest Rates
When you do the math, you’ll see that buying a more expensive house at a lower interest rate is cheaper than buying a less expensive house at a higher interest rate. Consider this; If the loan Amount is $175k at 5% the payment will be about $939.44 vs 6% the payment will be about $1049.21 or for a loan amount of $150k at 6% will be $899.33.
With this is mind, you might want to call a lender to see what interest rate you qualify for and what the payment will be. There are a lot of good deals out there with so many foreclosures and short sales on the market. I’ve heard from a few people that Short Sales are getting easier but I haven’t seen it. I’m still selling them but I do warn my clients not to expect anything fast.
Downtown Phoenix has some great deals in the condo market. You can get nice 2 bedroom and 2 baths for less than $100k. Even though the first time home buyers tax credit has expired it’s still a good time to at least look into buying a home in Phoenix.
You also might want to just search through MLS. You can search by zip code and check out different areas of the valley. RooPho Realty sells real estate all over the valley so feel free to call us with any questions in any part of town.