Mav Realty

A couple of weeks ago Forbes came out with their Best Buy Cities list of the top cities to invest in real estate for 2014.  The Phoenix area is on the list.  I am mentioning  this article because it echoes some stats that I have quoted previously that our local market analysts have provided.  The first paragraph of the article says, and I quote: “Buying a home can be a great investment, as investors gobbling up properties over the last few years–when prices and mortgage rates were at the bottom–well know. Now, with homes prices and rates ticking steadily back up, investors are backing away from the market, leaving more room for the rest of us.”

The list was developed by Forbes and Local Market Monitor, a real estate analysis company and focuses on what they call the equilibrium home price.  This is where the price would be if you remove distortions like the tremendous market run up in 2004-2005 and the subsequent crash.  IF the Phoenix market had stayed on a stable appreciation track, our current pricing falls out about 9% below were that stable track would be.  Our local analysts including the Cromford Report have been saying this for a while. 

Simply put, our market still has an upside to it.  Many investors have moved away from purchasing here because the margins aren’t ridiculously high like they used to be.  But the Forbes list points out that it is still a good market.  And that my friends is good news for the average buyer looking for a home for themselves.  There is less competition from investors, but you still can get a good investment for your primary residence!  You can see full article at the link showing below.

http://www.forbes.com/sites/erincarlyle/2013/12/26/best-buy-cities-where-to-invest-in-2014/

Adam Tarr PC
Citywide Real Estate
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