Happy New Year
What’s in Store for 2014?
Happy New Year to all my friends, clients, business partners and colleagues.
The year 2013 was a tremendous year but what’s in store for the Phoenix real estate market in 2014? Experts say the housing market should see less volatility, less dramatic price gains, slightly higher interest rates and dissipating interest from Wall Street investors. This is GOOD NEWS for all those still looking to BUY.
Hundreds of thousands of people were involuntarily displaced during the Great Recession and many want to own a home again (Boomerang Buyers). Population growth and In-Migration are back, fostered with relatively healthy job growth over the last two years. Every three people moving to greater phoenix should create demand for one new home. The data suggests housing demand must grow. This is GOOD NEWS for all those still looking to SELL.
The Phoenix Economy and Real Estate Market seem to be returning to a more balanced normalized market. Below is a summary of 2013:
- – 41,160 new jobs were added year over year (2.3% Growth)
- – Median Re-sale home prices up 23% from Nov 12 – Nov 13
- – Avg price per square foot up 18% from $104.34 to $122.68
- – Foreclosure starts fell 50% from November 2012
- – Greater Phoenix population to rise by 115,000 annually next 4 years
- – Homes must still appreciate by over 50% to reach 2006 Values
- Sources: Bureau of Labor Statistics, Mike Orr (ASU), Moody’s
In other words there is still plenty of upside and now is the time to buy in Phoenix. Prices are still relatively low, the sun is still shining and this historical opportunity wont last forever.
5 Reasons to Call Amy Koch
||The Phoenix Housing Recovery is on Track
||Amy is a Local Buyer & Seller Expert
||Rental Market is Strong for Investment Properties
||Home Prices still Only 50% of 2006 Values
||Over 330 Days of Sunshine, World Class Golf, Restaurants & Shopping
Book Your Visit to AZ Today
To all those Canadians and Mid-Westerners stuck in the Cold, Wet Winter Weather come and visit me this winter or Spring. I am currently booking trips for February and March. Let me know how I can help with hotels, flights, rental cars, Spring League Baseball Tickets, Golf, Suns or Coyotes Tickets.
Visit Amy’s Website
Visit www.AmyKoch.com to learn more about buying real estate in Arizona.
I have built my business through the referrals of friends, family and colleagues. Please forward this newsletter, my website www.AmyKoch.com or my contact information to those that may be interested in investing in Arizona real estate.