The Fading Phoenix American Dream
The American Dream of Owning a Home in Phoenix is Fading Fast. The home buyers facing the biggest uphill battle are those who are buying a home for the first time and anyone buying a home with low income. Why? In a word, competition.
TIMESTAMPS
00:00 Intro
00:47 Covid 19 Impact on Real Estate
01:43 Housing Supply Low
02:43 American Dream Aspirations
03:28 Competing for Houses
04:13 Bidding over Asking Price
05:02 Home Buyer Fatigue
05:53 Rent vs Buying in Phoenix
06:42 Phoenix Home Appreciation
07:32 Phoenix Rents Rising
08:28 Financing Your Home Purchase
The American Dream is one of hope and, well, ...dreams.
Our Phoenix housing market is full of buyers with plenty of money. The California mass exodus is for real, and that group of people comes to Arizona with cash because they know they can have a better life here.
They know that the American dream of owning a better home is going to be realized as soon as they introduce their California equity into our market.
Arizona native wanna-be homeowners have to compete with that buyer form Cali. That same AZ native would of had plenty of homes to pick form 5 years ago, but that market is gone now. The age of the $300,000 house is soon to be extinct in our state. The time where a no down payment or low down payment buying opportunity is still out there, but it is vastly shrunk down to a shadow of it's former self.
Based on what we are seeing it is safe to say that homeownership in Greater Phoenix is far more challenging today. The first time home buyer in AZ is going to need a thicker skin to cross the finish line. Today's buyer needs the best representation possible. Everything needs to be done right in order for people to be able to segway from being a renter into becoming a homeowner here in sunny Phoenix.
We can help you. Call or text (480)n 442-3501. That's my personal cell number. I'm John Cunningham with eXp Realty. My team and I are ready to put you on the right path to owning your own home ASAP. Lets talk.
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I’m John Cunningham with eXp Realty. Thanks for stopping by my channel. Every Thursday I add new videos for you. The topics span the gambit and I always want to give information out that is going to help you with your real estate goals. If you have a real estate topic you’d like me to cover let me know. You can message me by any of the means below.
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