2009 is slowly moving into history as a year of one of the toughest real estate markets on record, especially in the Metro Phoenix area. Many experts told us we’d hit the bottom of the market by the end of 2008 and 2009 we’d be coming out of the recession. Now that we’re at the end of 2009, we know that wasn’t true. Luckily, there are better signs now that we are nearing or at the bottom of the market and prices have stabilized for the most part.
As good as that sounds, there are still communities that you need to be careful buying in. The first thing you need to know is what reason you’re buying an Urban Condo. Are you going to live in it or are you going to buy it as an investment property and rent it? The next question is, how long do you plan on owning the property? And the third question is, are you financing or paying cash?
Once you have these important questions answered, you can start to look. Some properties are a good investment for cash buyers but may not be good for buyers needing to finance while others are good for a 5 year ownership plan and others might require a little longer time.
RooPho Realty is very experienced in the Phoenix condo market and has been successfully helping many investors, owner occupied buyers and first time home buyers purchase the right property.
Once you are ready to start the buying process, check out the many Metro Phoenix Urban properties on our website and then give us a call. We’ll help you with the rest. Our thorough understanding of the market conditions as well as the properties will help you make the right decision for you. If you want a single family urban home, historic home or a condo or a townhouse, we have been working this market for 7 years and have extensive experience in everything in the Phoenix Urban market.