Phoenix home values to outpace the nation in 2012
Phoenix home values are forecasted to experience the largest national gains in 2012. Zillow’s report for the first quarter of 2012 predicts Phoenix home appreciation rising 6.5% between March 2012 and March 2013 – the largest growth amongst the 30 major metros included in the report. “In Phoenix, your February-to-March change is 1.4 percent, which is really quite extra ordinary,” said Stan Humphries, Zillow’s chief economist. Humphries explains that Phoenix has be experiencing “very fast monthly appreciation,” a pattern that has led to the Zillow to forecast this substantial increase in home values in the next year.
Read article – Phoenix Business Journal
Low-ball Offers a Thing of the Past?
According to a NAR survey this March of 4,500 agents and brokers, no REALTORS complained about low-ball offers. The main problem nowadays: The sudden drop in inventory of for-sale homes has led to fewer homes available to sell. For home buyers who still think they have a chance of hitting it lucky with a low-ball offer, they’re finding in many markets that their offers are more often being rejected or countered closer to the original asking price.
Read article – Realtor Magazine
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Mary Maxie, Associate Broker, Prudential Arizona Properties
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