Ring in the New Year with New Real Estate!

Also for some extra holiday cheer check out the Flagstaff Top Producers singing Feliz Navidad!

As we get deeper into the winter months, temperatures may drop a little, but real estate deals in Flagstaff will definitely be on the rise! It’s about that time when people set forth their New Year’s Resolutions, which for many, often includes the goal of saving more money throughout the year – there’s never been a better time to capitalize on that mission, especially when it comes to buying a home!

Though Arizona as a whole was hit particularly hard by the downturn of the housing market, the home-buyers tax credit has done its job in counteracting that slump, as the market has picked up since the beginning of the year. Also, one-fifth of the Flagstaff real estate market is second homes, so the recovery will also be aided by the demand from second-home buyers all around the state.

In Flagstaff specifically, there are numerous homes which have dropped significantly in price, so be sure to check back in on that house you’ve been eyeing. Though you may have been discouraged by the price tag in the past, you’d be surprised to learn that it may be more financially possible to get the home of your dreams in 2011.

It is important to act quickly, however, due to the shrinking inventory of homes, combined with the lack of new construction taking place in the area. On the other hand, the 7.5 percent interest rate in 2010 has decreased to 4 percent, almost half of what it has been in the past! Refinancing your Arizona home can also play a key role in earning a lower interest, but there are always important elements to consider before making such a decision.

The flagstaff metro area is predicted to have the largest home price increase by 2014 – so if you can’t pull the trigger now, hold tight and wait a bit longer when the market is even more ideal for home buyers in the future!

Whatever your real estate needs may be as the New Year rolls around, be sure to solicit the help of a trustworthy agent that will keep a close eye on all of these positive trends in the home-buying industry, like me! And if you have any questions or comments you’d like to discuss, feel free to drop me a line!