Home sales in Fountain Hills and the majority of the Phoenix Metro area have been picking up speed in the last month. We are still very low on inventory and while the percentage of home buyers may not be increasing the ones that are buying need to move quickly when they find a good buy.
If a home is priced right, staged and presented in it’s best light with professional photos, it is not unusual for a home to attract multiple offers. In some cases, however, a listing in a prime location, or a home with fantastic views may end up being pushed above asking price. Does it make sense to pay over the list price? If you absolutely love the house and you are planning on living there long-term, then it could very well be the right decision to pay a bit more. If you do find yourself in a bidding frenzy, try to stay focused and remember your goals and what you can afford. Make sure the most recent comparable sales are in line with your offer price, because if you aren’t paying cash your lender will order an appraisal and it needs to appraise at fair market value.
Do you have questions about Fountain Hills real estate? I would love to talk with you! For a quick response, you can contact me at 480 888 6708 or email me regarding Fountain Hills neighborhoods and price trends.
Below is a chart showing the market index in Fountain Hills. When the market is balanced the lines will fall closer to 100, above 100 is a seller’s market and below 100 is a buyer’s market, as you can see we are way above which means we are in a seller’s market.