Move up buying made affordable

by Curt_Baumgarth on October 17, 2010

in Foreclosure News

Foreclosures in Scottsdale, Arizona are allowing home buyers to invest in property closer to work. Yes, I know that we are currently in the worst housing slump in a few decades here in beautiful, sunny, Scottsdale AZ. However, many families/individuals can use this to there advantage right now!

After many homebuyers were forced to move to the far, far outskirts of the Valley Metro Area such as Queen Creek, Maricopa, Buckeye etc. in order to afford a new home, the downturn in the market has enabled many people to buy homes in areas such as Scottsdale, Gilbert, Chandler AZ that were previously far out of reach. Nearly half of the 6000 new homes built this year were built in Metro Area Communities such as Gilbert and Chandler AZ. This is letting many homeowners and first time home buyers be in a financial position to avoid the “drive till you qualify” mentality that was present only a few years ago and live in a closer location to work and family.

It was very easy to find new home prices in Scottsdale, Mesa, Gilbert etc that had prices over $400k during the boom in 2006, and now find houses that are less than half of that in many of the same neighborhoods. This sudden affordability of homes in these popular cities, combined with low interest rates, are spurring many people to “move up” to a newer/closer/larger home or allowing many first time home buyers to start building their dream with a home to call their own.

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Curt Baumgarth, Realtor, MBA
Century 21 All Star, Realtors
9414 E San Salvador Dr
Scottsdale, AZ 85258
(480) 266-9796

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