PHOENIX — Buyers in the current Valley home market are likely to get more for their money, a Realtor said.
“They’re playing it much more safe, but it also depends on price,” Realtor Dianne Brennan told News/Talk 92.3 KTAR’s Mac & Gaydos on Wednesday. “With interest rates being so low, they are getting a bigger bang for their buck.”
Brennan, who hosts News/Talk 92.3 KTAR’s That Real Estate Show, said those interest rates are getting boomerang buyers — those who left the housing market for a period after a foreclosure or short sale — back into similar houses.
“With the interest rates being low, it’s the reverse: They probably had a really expensive house that they overpaid for and probably can get even bigger for the same amount of money that they paid for their previous homes,” she said.
Despite a potential fear of another bubble, Brennan said the wants of Valley buyers haven’t changed and there is not a lot of houses to satisfy those wants.
“We won’t ever have enough houses. We have too many people moving here,” she said, citing an Arizona State University housing market study.
That study also said that 100,000 people were expected to move to the Valley by 2015 with an additional 80,000 by 2016. The influx of buyers should help keep Phoenix’s housing market stable.
“If you’re investing in real estate or buying, be assured that prices are going to go up slowly and they’re going to level off in six months,” said Brennan, adding that selling in the Phoenix metro area will not be an issue.
- Sunscreen facts that could save your life
- 6 energy saving hacks for your home
- 5 tips for choosing a company to end your timeshare
- Water tips to save money, help save the Earth
- 5 of the most adored gentlemen in professional sports today
- The real danger of sitting at your desk
- Most surprising NBA playoff performances of the last 40 years
- 11 classic baseball movies you must see again
- Finally getting rid of fat: 3 methods that actually work
- 4 reasons cancer survivors should focus on food
- 5 spring cleaning spots everyone forgets
- 5 reasons to look forward to watching the D-backs this season
- Common virus attributed to spike in head and neck cancers
- 5 signs it’s time to end your timeshare ownership
- 3 most overlooked ways to keep your home healthy
- 6 ways the air in your home could be making you sick
- CrossFit dangers: 5 common injuries and how to deal with them
- Today's radiation treatments offer better success, fewer side effects
- Tips to make watching TV on the patio even better
- What really happens when you donate to a community college?
- Sun and skin cancer: Separating fact from fiction
- 5 critical lifestyle changes for a healthy colon
- What you need to know about Alzheimer's disease in Arizona
- Spring clean your windows like a pro with these 8 tips
- 7 films that should have won best-picture Oscars
- New plumbing technology saves money and improves your home
- Survey shows Arizona CFOs optimistic about 2016
- How chronic pain can affect your love life
- 5 potential warning signs about your child's development
- Jan Brewer thinks Paul Penzone will have tough time beating Sheriff Joe Arpaio
- Mac & Gaydos joined by Burmese python after losing March Madness bet
- Mac and Gaydos deliver pizzas to winning class in REDucation contest
- Civil rights activist wants Phoenix-area NAACP boss to step down after incident
- Cindy McCain talks Syrians refugees’ plight, trafficking in Arizona