The video below is a funny rap video put on by REALTOR® Brian Block, who works in Northern Virginia and Washington D.C. It has always seemed like the D.C. market was hot compared to other areas, even when it was cooling off during the recession. According to Brian, in his area 'houses gettin' sold!"
I network online with a lot of other real estate agents nationwide on different real estate groups. Someone in the group introduced this video that I think is hilarious.
How Does Scottsdale Real Estate Compare?
In the lower price ranges, Scottsdale real estate is pretty hot. For instance, a search for Scottsdale homes for sale priced under $200,000 brings up two listings, both Contingent (this means there is an accepted offer waiting for inspection and financing). These are both condominiums. Inspections are 10 business days after contract acceptance, so it's usually contingent on financing a week later.
There are currently 27 Scottsdale homes for sale, but 12 are Contingent and 2 are temporarily off-market. So technically, almost half of the homes currently on market are sold. Why did some sell and others didn't in such a low price range? Some homes might still be overpriced for their current condition. A home priced at $299,900 that is truly only worth $250,000 will sit on the market. Homes can be overpriced in any price range. I'm working with buyers in this price range who feel there is nothing decent on the market, even though they're looking at the high $200,000's.
Going into the $300,000-$400,000 range brings many more Scottsdale homes for sale at a count of 77 today. Out of that number, 29 are sold (Contingent) and 5 are temporarily off-market. I think those are pretty good stats and that we'll be seeing a lot more homes sold this year than last year, which was better than the year before.
I'm not going to go through every price range, and as you get higher in price it becomes a buyer's market as there are fewer buyers for the amount of higher-priced homes available. We might not be as hot as D.C. (or Las Vegas or most of California), but we're doing better than in the past. Buyers in the lower price ranges are finding out their lowball offers aren't working and many are up against other buyers and involved in bidding wars. If you're interested in Scottsdale real estate or any other North Phoenix area, give The Judy Orr Team a call at 480-877-1549 or Contact Us.Posted by Judy Orr on