Local Trends Have Realtors Optimistic About 2012

Buyers more serious and homes moving quicker

By Curtis Riggs – Realtors in Cave Creek, Carefree and the rest of the Desert Foothills are optimistic about a successful 2012 based on low interest rates, a dwindling supply of available homes and real estate trends, which began to develop late last year.

Coldwell Banker’s Joanne Eannacone says homes in the $300,000 price range are now in the market for only a short time.

“They are now moving more rapidly,” she says.

She expects this trend to move up the line to more expensive homes and also expects it to continue through the year.

Dominion Real Estate’s Todd Headlee is optimistic about a successful 2012 based on the seriousness of buyers who pass through his open houses.

Kathie Nohre of RE/MAX at the Village office in Cave Creek, says the market for home rentals is strong this year. As far as she is concerned, this trend leads to a stronger real estate market.

“People have a better feeling,” she adds. “There is a lot more energy.”

The Cromford Report shows an unusually low number of homes below $400,000 and reports that the median sales price for single family homes is 13% higher than this time last year.

One point that all three realtors agreed on is that those “smoking deals” and low prices, which were available when the market was at the bottom, have all but disappeared.

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