Q: Why Is It Harder to Be a Buyer Right Now?

By Monique Walker

Monique Walker has 21 years of experience successfully buying and selling homes in the Phoenix market. She knows the neighborhoods, schools, and the local economy. Monique and her team do all the leg work, keeping you up-to-date with new listings and conditions as they impact the market.

Today I’m joined by Troy Peterson from the Fidelity National Title Agency, who has helped me compile a list of great questions that consumers have been asking him about real estate. Together, we’re tackling another question so you have a better understanding of the process.

“I hear about all the growth and construction in Phoenix, so why is it so hard to find a house right now and get my offer accepted?’

It is very difficult to be a buyer in this market, and that means you have to hire a very aggressive, knowledgeable, proactive buyer’s agent to help you. We have the lowest number of homes for sale that we’ve had in nearly a decade, which makes the market hyper-competitive. You can sell your property for a super high price, but that means you’ll also have to purchase your new home for a super high price.

The ultimate question for potential buyers to answer is, “Are you in it for the short game or the long game?” We’ll probably go through another market cycle sometime in the next five to seven years, so if you sell high, buy high, and plan to stay in the home for about that long, then you’ll see solid appreciation on an asset you can enjoy every single day. If you’re only planning to stay in it for a year or so, it might not be the best idea financially to purchase.

If you’re curious about what your home is worth or if you’re looking to buy a home, my team and I would love to help. Feel free to give us a call, text, or email! We’re here to serve you.