Our friends at the Cromford Report tell us that we are at the top end of what we would expect in terms of a normal appreciation growth in the price of homes in the market. See the last post for why that is. Yep! Wholesalers and flippers have been driving up prices.

So, do we need a drastic drop in prices?

Nope.

What we need is for a move toward balance, at which point there will be plenty of buyers for good looking properties. (more on that in the next post)

So, what does that mean for you?

BUYERS: get your financing in order. As we will discover in tomorrow’s post,  a re-balanced market could happen within a month or so. You are in a great place to start looking. Choose only the best home for you and don’t be afraid to haggle.

SELLERS: If you are on the market now, price accordingly. If you are coming on to the market, do those improvements and make the house really shine. Stand out from the others!

If you are thinking of selling, really polish up that property!

Also, from now until early June is the high season. Sell now if you are going to sell this year!

Call us directly for more insights at 602-456-9388.

Our friends at the Cromford Report are tracking supply and demand, as well as the many other indicators in the real estate market. 

Here’s an odd situation that you don’t see much in the market: both the supply and the demand are below “normal”, as defined as the Cromford Index at 100, otherwise known as a balance between seller and buyer advantage.

So, the bit question is whether demand will drop to meet supply or whether supply will rise to meet demand. 

We’ve already seen a drop in demand in the market, and we know that flippers are exiting the market right now, so history indicates that supply and demand will meet soon.

What does that market feature mean for you?

SELLERS: focus on making your property look great. Make it shine. Also, from now until early June is the high season. Sell now if you are going to sell this year!

BUYERS: don’t expect to get big discounts, but don’t be afraid to haggle.

Call us directly for more insights at 602-456-9388.