Phoenix Real Estate Market
Usually the end of the year is a lull for real estate agents and the Phoenix real estate market. Well, the Phoenix Real Estate Guy Team is finishing the year strong with two of our strongest months of they year, and 2015 is still a great time to buy a house.
Why is 2015 a great time and why is now a great time to act?
- Interest rates are still great. There is talk about rates going up in December. A recent Wall Street Journal article form this month showed 92% of economists believed an announced rate increase was coming in December.
- Cheaper FHA Mortgage Insurance Premiums were announced in 2015.
- Reduced down payment options. Right now Shane Hollenback with Academy Mortgage has a fantastic 5% down conventional loan option with lender paid mortgage insurance. This option will shave you greatly on your payments.
- Increasing rent. Rents continue to go up throughout most of the country, including the Phoenix Market.
- Home values are on the rise. The price of houses continue to rise. The good news is this is not 2004-2006. The current increases are very much within reason getting us back to pre 2005 growth projections.
Now is a great time to buy. If you are looking, you can start your search on our Phoenix Home For Sale search site. Let us know how we can help. Remember, when budgeting for your home purchase you should take into account not only large overhauls but also smaller scale tweaks such as calling a locksmith and having them upgrade all the locks to newer and more secure ones to be safe.