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Are you Prepared to Spend Thousands Sight Unseen?

Are you Prepared to Spend Thousands Sight Unseen?

avatarthumbnail.jpgHere’s the reality of bank owned homes in the Phoenix real estate market: if you are looking in the lower price points – say under $150,000 but absolutely under $100,000 – you’re not going to have time to think.

If you’re out of town and want additional pictures, additional information, or want a couple of days to debate a property, fine. Just realize while you’re debating the matter, many others are submitting contracts.

Just this past week a client sent me two homes in El Mirage – one was under contract with multiple offers in its second day on the market, the other had six offers by day three. And this is the rule these days, not the exception.

What tends to make things more complicated are those who want to “rely on (my) expertise” to choose an area in which to live. As I’ve explained at least a dozen times, I can’t legally do that. And besides, I don’t know you and don’t know where you might want to live.

El Mirage is under the flight path for Luke Air Force Base. For some that’s not an issue. For others that’s going to be a major problem. I can’t decide that for you.

The thing is, if you’re serious about buying a home in the Phoenix real estate market you need to come down for a couple of days and look at the area to see what works for you. If you’re prepared to spend thousands on a home, spend an extra thousand or two and make sure you know where you’re buying and what you’re buying.

Once you’ve got the Valley narrowed down, finding a home’s a little easier – then it’s just a matter of writing offers until something sticks. Without that first trip, though, this all is little more than a crapshoot.

[tags]Phoenix real estate[/tags]

1 Comment

  • Jim Little says:

    Jonathon, you often beat me to itwith your posts, and this is a good example. I have had exactly the same experiences, a buying frenzy at bank-owned properties.