Interesting Real Estate-related Market Stuff:
- FHA announced it is lowering the student loan barriers for buyers. It is about TIME!
- FHA maximum loan amount is now $368k, which means a $381,350 purchase with 3.5% down payment.
- Construction materials are still hard to come by, both for builders and DYIers. Lumber prices have come down some, but don't hold your breath for pre-pandemic prices any time soon.
- Queen Creek, Buckeye, Maricopa, Goodyear, then Surprise (in that order) have the fastest growing populations. This is where most new builds are being constructed, of course.
- The Great Phoenix Economic Council is projecting 26.4% growth in the West Valley, 11.2% growth in the mid- and upper-east sections, and 13.8% growth in the East Valley by 2029.
- The largest employment corridor is now near the I-10 and 202 freeway interchange.
Click here to watch the above video.
For more details on a certain zip code, neighborhood specifics, or to help you buy or sell a home simply reply to this email, call, or text Nancy at 602-730-2143. I look forward to talking about your individual needs.
Q: How much longer will it take for Buyers to not have to OFFER over asking to WIN?
A: Great question. My crystal ball has a crack, and my Tarot cards are ignoring me, so this is just my best guess. Every city is different, so here is one example. Gilbert, at it's current strengthening will be back from insanity in just a few more months. I CAN'T WAIT!!!
Do you remember about the housing market last August in Gilbert? Probably not. It was challenging, but not-curl-up-in-a-ball-in-the-corner bad. Will it take multiple offer attempts to win? Expect it. Is it as tough as last month? Nope. Will it be easier to buy a home next month? Yep, almost definitely.
Just reply back, or call/text, if you'd like to know about other cities.