Luxury Homes – Acquire More for Your Money

Luxury Homes – Acquire More for Your Money

Expect to have one heck of a housewarming party! With home prices down 10 to 20 percent in most major cities a million dollars can acquire much more than just a few years ago. The medium home price currently across the United States is approximately $170,000. Think bigger and see what you can afford for seven figures.  Homes priced now at $500,000 where once the seven figure home before the drop and now considered one of the best Phoenix area luxury real estate deals going on.

According to Zillow, the Phoenix market hit a bottom during the third quarter of 2011, and is expected to have some of the strongest price growth in the country through March 2013. However, homes in the Phoenix area priced above $1 million are struggling more than lower price points, due to buyer difficulty in obtaining financing. In some of the Phoenix city areas, $1 million homes are selling much faster this year than in 2011, due to low inventory.  LUXURY HOME SEARCH

Still it looks optimistic, citing low inventories, low interest rates and increased activity. Some brokers in Phoenix believe the area is in a seller’s market for the first time in four years. Activity has been buoyed by investors, while most buyers are looking to time the market before jumping in on any price point.

Doreen Inzalaco, Inzalaco Team, 480-420-9151, www.inzalacoteamaz.com

Luxury Homes – Acquire More for Your Money

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