What the national media is saying about demand isn’t accurate.
 
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What are the motivating factors driving housing prices up so quickly right now? Many media outlets are discussing how demand is very high. Because home prices are appreciating so quickly, many people are prone to think that demand is high. In reality, demand is fairly normal. That's somewhat hard to believe when you regularly have multiple offers coming in, but what's truly driving the housing prices is our low supply.
Right now, we have about 6,000 homes for sale through the Arizona Regional MLS. Comparatively, we usually see 30,000 to 35,000 homes on the market around this time of year. Having a fifth of the normal amount of inventory means that we have an extreme shortage. Contrary to what you hear through media outlets, the market is not rising quickly because of strong demand or interest rates. It’s risi. ...

I discuss whether or not now is the right time to invest in real estate.

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We're still in a hot seller's market and it's an unprecedented time for real estate. I've been hearing a lot from investors who are curious about whether or not it's the right time to get into the market. I'm excited to share my thoughts and expertise with you to give you a better idea of what makes sense for your personal situation. You can succeed with both short-term and long-term investments in this market.
Many people are considering buying properties in the market because of appreciation rates, and while there can be a great opportunity to buy and see a rapid appreciation, I typically don't recommend getting in and having a speculative, short-term outlook. If you're looking to purchase a property and see it rise by 10% over the next few months, that may happen. However, I advise my clients to look at real estate . ...

It’s still possible for buyers to win in a seller’s market.

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It’s a tough market for buyers right now. Competition is fierce, as there’s incredibly high demand but very few homes available to go around. Many buyers are trying to find ways to make their offers stand out, such as by writing letters about why they need or want the home. However, there are better ways to make an offer that wins you the home of your dreams.
These are a few things that have worked well for our clients recently. In one case, we were able to find a home within the first 15 minutes of it being listed. This meant we could put in a strong offer early and negotiate terms before anyone else even knew it existed. We were under contract within a few hours, and we even beat offers that were thousands of dollars higher than ours.
In another situation, we were waiting for weeks to find a home that mat. ...

Waiting for a market correction to buy might not actually cost less.

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Many people are asking if they should purchase a home if there's a coming price correction in the future. I’d like to discuss the ramifications of buying a home now even if there's a potential downturn in the market in the future. I’d also like to go through a little bit of a demonstration of what could happen with prices based on the current trends.
Over the last year, we've seen prices appreciate about 30% and many people are concerned if that continues then prices have a good probability of going down. Let's take a look at a scenario of somebody looking to buy a home for $400,000 right now. They may have been able to purchase that home for under $300,000 a year ago and feel like they're overpaying if the current trends continue. However, if an additional 30% appreciation occurs, they could be looking at the . ...

These are just a few good reasons sellers should hire a Realtor, even in this hot market.

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If homes are selling so quickly, why should you pay a Realtor to help you sell? Here are three key reasons why you should enlist the help of a professional irrespective of the conditions in our market:
1. An agent helps you choose the best offer. If you don’t use a Realtor, how do you know you’re getting the best offer for your home? Suppose your home is currently valued at $450,000; if you got an offer for $455,000 within two days of listing, would that be the best offer you could get? What could you get if you had 10, 12, or even 30 offers? Great agents in the top 1% of the industry can help you answer these types of questions and educate you about what’s going on in the market.
2. An agent makes sure the buyer can afford to pay the amount they’re offering. Many buyers can qu. ...