If you are considering selling your home in Scottsdale this year, you should take a look at some of this year’s main real estate trends. They could give you a rough idea about how quickly you could sell your home, and are equally interesting if you are in the market to buy a Scottsdale home.
1. Many People Are Planning to Make a Move in 2015
Certain demographics may be in the market to buy a home this year, according to recent research. For example, a lot of millennials have been renting for years, but are starting families and settling down, thus creating a new market for millennial buyers. They will likely become the largest group of buyers by the end of the year.
At the same time, baby boomers are also on the move. Many have recently started downsizing and moving closer to their grandchildren, which means you can expect them to sell their larger homes and buy smaller houses and condos this year. So if you plan to sell your home anywhere in Scottsdale, keep millennials and baby boomers in mind as your agent markets the house.
2. Buyers are Pickier
Homebuyers in higher price ranges have more houses to choose from, since luxury real estate inventory has increased. In addition, fewer investors are coming from overseas to buy houses in the US, so local buyers have less competition for the homes on the market. This means people looking to buy a Scottsdale home expect to get a lot for their money. Buyers in particular are looking for move-in ready homes, not fixer-uppers. This means if you want a quick sale on your Scottsdale home, you should make as many home improvements as possible before you put it on the market. Luckily, many homes in DC Ranch are well cared for and loaded with upgrades, so you may not have to do much to make your house appealing to buyers.
3. More People Qualify to Buy Homes
This is good news whether you are buying or selling! One of the reasons more people can get home loans is that any foreclosures or short sales may no longer show on their credit reports, since they come off the report after about seven years. Those who lost their home during the housing crash around 2008 might be ready to buy a home now that their credit has recovered. Additionally, Fannie Mae and Freddie Mac have made it easier for buyers to qualify for home loans, even after only putting about 3 percent down.
These trends could add up to more home sales this year, and right now the lower-mid range-priced market is particularly hot, with homes selling quickly after going on the market. But, if you’re looking to buy a luxury Scottsdale home, you’re in luck with plenty of inventory from which to choose.
Are you ready to buy a Scottsdale home in DC Ranch or a nearby neighborhood? Or are you planning on selling your home in Scottdale? Either way, contact The Matheson Team for help today!
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255