Say what? Historically Low Inventory

If you’ve been looking to buy or sell a home (or even just keeping an eye on home prices in the valley), you’ve probably been able to see the trend pretty easily. Fewer and fewer homes are active on the market (for sale without being under contract).

As I type this up there are only 4,096 active homes for sale in all of Maricopa and Pinal Counties. Normally during this time of year we would expect to see 20,000 – 30,000!

What does this mean for you if you are looking to buy or sell?

Buyers:

Well, if you are looking to buy the road isn’t going to be easy. You can still find amazing homes, but to find the one that is just what you are looking for is going to be tougher. Make sure you know exactly what’s a must have for you, and what’s a nice to have.

Some advice I normally give buyers as I show them homes is that you should find a home you can like and live in now, and that you can turn into a home that you are absolutely in love with as you make it your own. For example, if you love everything about the home, but really want stone countertops, consider looking at a home with laminate counters and putting in your own granite or quartz counters later.

And get yourself in the right mindset as you start your search. Right now there will be multiple offers on pretty much any home you want to write an offer for. Come in with your strongest offer (note, strongest doesn’t always mean most money… make sure you have an agent you trust who can get the 411 on what gets the seller excited), and understand that you may need to put in several offers before you finally get your home.

Sellers:

If you are in a place where you are ready to sell, now is a great time to get the equity from your home. Figure out what your goal in selling your home is (get the most money for it, sell it fast so you don’t have to deal with a ton of showings, sell it without having to spend money on repairs, etc) and find an agent who knows your area in the market really well and can that will help you achieve that goal.

If you have any questions or are ready to buy or sell, I would love to help. Shoot me an email (justin@nheteam.com) or text or call (480-313-0329).

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