Wednesday, March 13, 2013

New Construction-Greater Phoenix Area

By Darr Colburn                
The number of new building permits in Maricopa County is on the rise.
I have noticed a growing number of new houses going up in the area I live along with the rest of the greater Phoenix area.  This is a great sign after seeing very few new homes built over the past few years.  The inventory of resale homes is low and good properties priced at market value are not on the market very long. Many times multiple offers are received the first day on the market.  This is great for sellers and can be frustrating for buyers.  We just sold a new build to a couple in a subdivision in the NW valley.  The lady in the sales office told me they have already had one price increase and are expecting another one very soon.  Resale home prices in some parts of the valley are up 30% from last year.  We expect many of the lots that were purchased over the last few years at low prices to be built on or sold over the next couple of years as prices continue to rise and the inventory of resale homes stays low. 
New Construction in the Desert Hills area
If you are  thinking of buying or selling real estate in valley or just want to know what your property is worth give Darr or Jay a call.  Know someone who is looking to buy or sell?  Send us your referrals to get a chance to win a Mexico Coues Deer Hunt.

Darr Colburn
(602) 284-1722                             

Jay Scott
(602) 803-0223