There has never been a better buyer’s market than the current real estate market in Arizona. An extremely high number of foreclosures in the state have led to a situation where banks and other financial institutions have more foreclosed properties on their hands than they can manage to sell off.
As a result, buyers are in a position to not just negotiate for better prices, but also better repayment options suiting their budgets and incomes. As it is, most foreclosed properties are sold at a discount of at least ten to twenty per cent, but because of the extremely large number of foreclosure properties that are on the market now, savvy buyers can easily strike deals for properties with discounts of at least 30% to 50%.
While the number of Arizona foreclosure properties dropped considerably in the first couple of months in 2008, the state soon rose to the number three rank when it came to the highest number of foreclosures, ranking behind only Nevada and California. Foreclosure properties are available en masse not only in the capital city of Phoenix but in counties ranging from Scottsdale to Flagstaff to Tucson. While the situation of homeowners, whose properties have been foreclosed, is quite unfortunate, it is a great opportunity for both investors and home buyers alike.
If you are a home buyer planning to buy a house in Arizona, then avail the opportunity right now, because a similar combination of positive factors like very low home prices, a large variety to choose from and low interest rates will most probably never occur again in the future. It is a particularly good opportunity for people who have relocated to Arizona to work with the corporate companies that are based in the state especially in the Phoenix and Tucson region.
Many places in Arizona boast of a constantly warm and snow free weather. Most cities, especially Phoenix also have a number of recreational options ranging from golf courses to theaters and museums. All these factors contribute towards making Arizona foreclosures a blessing in disguise for retirees wishing to relocate to a warmer climate.
As a result, buyers are in a position to not just negotiate for better prices, but also better repayment options suiting their budgets and incomes. As it is, most foreclosed properties are sold at a discount of at least ten to twenty per cent, but because of the extremely large number of foreclosure properties that are on the market now, savvy buyers can easily strike deals for properties with discounts of at least 30% to 50%.
While the number of Arizona foreclosure properties dropped considerably in the first couple of months in 2008, the state soon rose to the number three rank when it came to the highest number of foreclosures, ranking behind only Nevada and California. Foreclosure properties are available en masse not only in the capital city of Phoenix but in counties ranging from Scottsdale to Flagstaff to Tucson. While the situation of homeowners, whose properties have been foreclosed, is quite unfortunate, it is a great opportunity for both investors and home buyers alike.
If you are a home buyer planning to buy a house in Arizona, then avail the opportunity right now, because a similar combination of positive factors like very low home prices, a large variety to choose from and low interest rates will most probably never occur again in the future. It is a particularly good opportunity for people who have relocated to Arizona to work with the corporate companies that are based in the state especially in the Phoenix and Tucson region.
Many places in Arizona boast of a constantly warm and snow free weather. Most cities, especially Phoenix also have a number of recreational options ranging from golf courses to theaters and museums. All these factors contribute towards making Arizona foreclosures a blessing in disguise for retirees wishing to relocate to a warmer climate.
No comments:
Post a Comment