Hard to believe, isn’t it? You can actually sell a home in Greater Phoenix and make money on the deal.
How can this be so? The long answer is long and boring, but the short answer yields a comprehensive truth in only two words: Market volatility.
We were a slow leak on the way down, until all of a sudden we were a fast leak. And then, just as suddenly, the market surged upward, gaining back a lot of lost price-pressure very quickly.
The result? If you bought a house in Phoenix or its suburbs within the past two or three years, it could be possible for you to sell that home and actually pocket some cash on the deal.
How much money could you scrape off the table?
It could be a lot, actually. We’re getting ready to list a property where we expect the sellers to more than double their 20% down-payment in less than 15 months, total, since they closed on the home.
Your mileage will vary, of course, but you only need to beat your original purchase price by 7% or so to put yourself in the black — and home values are up more than 30% over the past year.
Okay, so you might be able to sell at a profit. Why would you do it? And why now?
The why is your question to answer: To move up to a better home, to move down to a house you can own free-and-clear, to move on to another part of the country, to get your money out of housing and put it into a business — your reasons are your own.
But why now? Because supplies of homes are very low, demand is insanely high — and because neither of these circumstances can last forever.
It could be that we’re back on the appreciation track for the foreseeable future, in which case holding out for higher prices makes sense.
But it also could be that the recent upsurge in prices is the eye of the hurricane, and continued foreclosures combined with other bad economic news could push home values down yet again.
I don’t know which will happen — but I know that no one else knows either.
But if you have a reason to sell your Phoenix-area home, we can make it sell quickly and for top dollar right now. If you want to explore your possibilities — and calculate your potential profits — drop me a line.