Hot home sales in cool Valley real estate market
You see them in every neighborhood, for sale signs and foreclosure notices.
Despite this, Nate Martinez, President of the Phoenix Association of Realtors says one segment is really hot right now with homes priced under $200,000.
He says a couple of years ago investors pushed up home prices, which meant many people could not afford to buy.
Now that prices are dropping families once priced out of the market can jump in.
He's even seen bidding wars in the $200,000 and below range, something he hasn't seen in years.
The hope is that increased activity in that range could be a strong first step to helping the entire industry recover.
The people who sold their homes will not have the equity to buy into a more expensive bracket which will get some of that inventory off the market.
Candice Boggs
Arizona Homes Realty, LLC.
www.FindAzProperties.com
602-677-9867