2017 Real Estate Resolutions for Las Sendas Homeowners You might not be thinking beyond getting through the holiday season right now, but the New Year is just around the corner, and with it will come…
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2017: New Home Buying Trends in the East Valley
2017 is set to see some major changes – and not just in the political arena. The real estate market in the East Valley, including places like East Mesa and Las Sendas, will see a few shakeups this year, which could have a big impact on your search for a new home or your ability to fetch the price you want for your current home on the market. It’s important that you work close with an experienced realtor if you are ready to look for homes for sale or to sell your current home.
Here are some of the big trends we expect to see for new home buying in the East Valley this year:
Increase in First-Time Buyers
Last year, about a third of people buying a home were first-time homebuyers. At the start of 2017, first-time homebuyers represent more than half of all people buying a home, and those numbers are expected to hold steady.
Realtors in East Mesa expect competition for new home buying to be fierce this year with so many motivated buyers in the market. Starter homes with affordable pricing will be the most attractive to this market. Therefore, if you are looking to sell your home this year, it’s time to start getting it ready and stage it to appeal to this demographic. If you are looking to buy, you may want to hold off until the slower season to get the best prices.
Inventory Going Up
Last year, most would-be homebuyers cited a lack of inventory as their biggest hurdle to finding the perfect home. This year, there will be plenty of inventory, which means that homes won’t sell as quickly.
The primary obstacle for buyers this year will be financing. Buyers say that they are struggling to come up with the down payment for the loan, and many worry about being able to find a house within their budget – a valid concern since home prices in East Mesa and the surrounding area have been on an upward trend.
Suburbs become Popular
The big-city life has often been glamorized as exciting and romantic, but few people can actually afford to live in major metropolitan centers. More and more people will be looking to the suburbs for affordable housing – especially those first-time homebuyers expected to flood the market this year. First-time homebuyers will be seeking options in the suburbs to raise a family, to find affordable housing, and to enjoy lower crime rates.
Urban areas still remain popular with the millennials – the largest group making up first-time homebuyers right now – but the suburbs overwhelmingly come in first place when this group is asked where they are focusing their search. If you have a home for sale in the suburbs, you just might cash in big this year.
Family Features a Focus
Since many of the buyers this year will be under 35, many of them will also be looking at buying starter homes in which to raise a young family. That means that they will be looking for homes in Las Sendas with good construction, large yards, and safe neighborhoods. They may be moving in with partners, or they may even be single, but they know they want to stay in the house awhile and they know they will eventually be raising children there. They are shopping for homes with that potential family in mind.
So again, if you have a home with these features, get ready for some intense competition for your home once it goes on the market. If you are looking for a home with these features, get ready to bid competitively to snag your dream home before someone else does.
Working with an experienced realtor can help you find the perfect home for your budget. Your realtor will counsel you on how to bid, when and where to shop, and what features make a home a good investment.
Coldwell Banker North East Mesa works with clients who are looking for homes for sale throughout the East Valley, including popular locations like East Mesa and Las Sendas. We specialize in making the process easy for first-time homebuyers, and we are committed to helping you find the perfect home to meet your needs. Call us today to talk about what you want in a home and to get the new home buying process started.
- 2017 Real Estate Resolutions for Las Sendas Homeowners
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