ARIZONA NEWS

Realtor: Home buyers getting more bang for buck

Aug 28, 2013, 6:17 PM | Updated: 6:19 pm

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.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

A five-mile stretch of SR-88 will be closed for flooding repairs. (ADOT photo)...

KTAR.com

Contractor approved for project to restore limited access to State Route 88

ADOT announced Friday an approved contract for a project that aims to restore limited access to a five-mile stretch of State Route 88 damaged by flooding.

16 minutes ago

Detours on southbound I-17 are expected this week near Bumble Bee Road. (ADOT photo)...

KTAR.com

Overnight detours to begin Monday on southbound I-17 at Bumble Bee Road

Drivers traveling south on Interstate 17 north of Black Canyon City should plan for overnight detours beginning Monday, ADOT said.

1 hour ago

Joe Biden speaking at podium next to Kamala Harris...

KTAR.com

Kelly endorses Harris for Democratic ticket, Arizona reacts to Biden withdrawing from 2024 race

President Joe Biden announced Sunday that he will not seek reelection after his first term as commander in chief ends in January 2025. U.S. Senator Mark Kelly  (D-Arizona) endorsed Harris on X as the prevailing name on the Democratic presidential ticket.

2 hours ago

Migrants in sitting close to each other in Mexico asylum...

Associated Press

Behind Biden’s asylum halt: Migrants must say if they fear deportation, not wait to be asked

Posters inside a complex of giant, white tents tell migrants in English, Spanish, Mandarin and Hindi they should tell an officer if they fear being deported and “your claim will be heard.”

7 hours ago

Rendering of Papago Golf House designed by Wespac Construction Inc....

Payne Moses

Construction begins on Papago Golf House, will serve many public golf organizations

Construction for the Papago Golf House is now underway, as the groundbreaking was announced by the project manager on Thursday.

9 hours ago

Keshi (Casey Luong) posing in front of BOSE sign in New York....

Payne Moses

Keshi’s ‘Requiem World Tour’ to make Glendale stop on Halloween

Keshi's "Requiem World Tour" is making its way to Diamond Desert Arena in Glendale on Oct. 31, the host venue announced Friday.

10 hours ago

Sponsored Articles

...

Sanderson Ford

3 storylines to get you revved up for the 2024 Arizona Cardinals

Arizona Cardinals training camp is just a couple weeks away starting on July 25, and Sanderson Ford is revved up and ready to go.

...

Day & Night Air Conditioning, Heating and Plumbing

Beat the heat, ensure your AC unit is summer-ready

With temperatures starting to rise across the Valley, now is a great time to be sure your AC unit is ready to withstand the sweltering summer heat.

...

Condor Airlines

Condor Airlines can get you smoothly from Phoenix to Frankfurt on new A330-900neo airplane

Adventure Awaits! And there's no better way to experience the vacation of your dreams than traveling with Condor Airlines.

Realtor: Home buyers getting more bang for buck