Buyers Nationwide Investing in Scottsdale Real Estate
The Scottsdale Real Estate market has always been regarded as a good investment, with an array of shopping, golf and restaurant options to fit almost anyone's lifestyle and budget. But as the market crashed in 2007, negative press, plummeting home prices, and an abundance of foreclosure and short sale properties on the market, Scottsdale lost some of its luster as investors and homebuyers alike sat on the sidelines waiting for signs of market recovery.
On Monday, Billionaire Warren Buffett, The chairman and chief executive of Berkshire Hathaway Inc. addressed the housing market as a whole in an interview on the cable TV network CNBC and said that houses are attractive investment at current prices. He added he might buy a couple hundred thousand homes if only he could figure out a way to manage them effectively.
"Single-family homes are really cheap now too," Buffett said.
Buffett conceded in his letter released Saturday that he was dead wrong to predict the housing market would recover by now. He said Monday that he believes conditions will improve in 2012.
Foreclosures in January 2012 were down 19% from a year earlier. .Multi-family starts were 175,000, up more than 70% over 2009, while single-family starts of 508,000 were only modestly above the 2009 average. It's been a long hard road but it seems the worst of the housing bubble has come and gone.
Scottsdale has already shown signs of recovery with the median list price of homes rising 16.9% (5th nationwide) from last year and inventory dropping by 27% (4th nationwide). And as the market begins to level itself off, out of state buyers are flocking to Arizona to snatch up second homes and investment properties at significantly discounted prices.
Californians and Canadians are leading the way with Californians buying the most single family homes (3,935 in Arizona in 2011) and Canadians buying condos (1,483 in Arizona in 2011). On the market today you can find single family homes in Scottsdale as low as $120,000 and Condos as low as $25,000.
With mortgage prices remaining at historic lows, there is no better time to invest in the Scottsdale Real Estate market. Whether your investment is for you to live in or you are looking for an income producing property, Scottsdale once again is becoming one of the best investments in the United States.
Chad Tornabeni, with Capital Realty (http://www.selling2arizona.com), a Scottsdale based Real Estate Company, offers a variety of tools on his website to help potential home buyers search properties for sale, see community information as well as detailed market statistics.
Visit Capital Realty today and start searching homes for sale and the latest news and information on the Scottsdale real estate market.
On Monday, Billionaire Warren Buffett, The chairman and chief executive of Berkshire Hathaway Inc. addressed the housing market as a whole in an interview on the cable TV network CNBC and said that houses are attractive investment at current prices. He added he might buy a couple hundred thousand homes if only he could figure out a way to manage them effectively.
"Single-family homes are really cheap now too," Buffett said.
Buffett conceded in his letter released Saturday that he was dead wrong to predict the housing market would recover by now. He said Monday that he believes conditions will improve in 2012.
Foreclosures in January 2012 were down 19% from a year earlier. .Multi-family starts were 175,000, up more than 70% over 2009, while single-family starts of 508,000 were only modestly above the 2009 average. It's been a long hard road but it seems the worst of the housing bubble has come and gone.
Scottsdale has already shown signs of recovery with the median list price of homes rising 16.9% (5th nationwide) from last year and inventory dropping by 27% (4th nationwide). And as the market begins to level itself off, out of state buyers are flocking to Arizona to snatch up second homes and investment properties at significantly discounted prices.
Californians and Canadians are leading the way with Californians buying the most single family homes (3,935 in Arizona in 2011) and Canadians buying condos (1,483 in Arizona in 2011). On the market today you can find single family homes in Scottsdale as low as $120,000 and Condos as low as $25,000.
With mortgage prices remaining at historic lows, there is no better time to invest in the Scottsdale Real Estate market. Whether your investment is for you to live in or you are looking for an income producing property, Scottsdale once again is becoming one of the best investments in the United States.
Chad Tornabeni, with Capital Realty (http://www.selling2arizona.com), a Scottsdale based Real Estate Company, offers a variety of tools on his website to help potential home buyers search properties for sale, see community information as well as detailed market statistics.
Visit Capital Realty today and start searching homes for sale and the latest news and information on the Scottsdale real estate market.
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