The housing market today is a lot like the firearms market. In that it's totally an over saturated buyers market at present. I'm retiring at the end of the year, and we're planning on moving out of the Phoenix, metro area, to western Arizona along the Colorado river. The market for homes in places like Lake Havasu City and Ft. Mohave is totally a buyers market, with homes stagnating on the market for 200+ days. Bank foreclosures are everywhere.
There are very few qualified buyers that are able to obtain mortgages, with the new stricter lending policies most banks and lending institutions employ today. That will work in our favor when the time comes for us to buy. Then the opposite will be true when we turn around to sell this place. It will have to be priced to move because I don't want to sit on an empty house for months trying to unload it.
There are very few qualified buyers that are able to obtain mortgages, with the new stricter lending policies most banks and lending institutions employ today. That will work in our favor when the time comes for us to buy. Then the opposite will be true when we turn around to sell this place. It will have to be priced to move because I don't want to sit on an empty house for months trying to unload it.