Oct. 1, 2012
The question that currently looms for real estate investors should not be "When is the time right to buy again?" The question should be "Where should one be buying now?" For many the answer to that question is the Arcadia real estatemarket in Arizona. Many people have honed in on Arcadia because of the great, high quality homes that have been built here. They've also chosen it because of the opportunities that are currently available for low priced real estate. With the economic downturn which started prior to 2008 and really hit the housing market hard four years ago, investors have been discouraged by the dwindling values of homes that cost much more to build than what they are currently selling for. Risky loans also led to many foreclosures, and lenders have been left holding the bag with empty properties that are costing them more and more money.
Arcadia was not immune from these challenges. Today, there are still some foreclosure opportunities that investors can take advantage of. While this is bad news for the displaced residents, it is a golden opportunity for those with the money and the means to make their dreams come true. Housing prices - especially in the Arcadia real estate market - are already starting to bounce back. As interest rates start to rise - presumably after the 2012 presidential election in November - so, too, will home values. But until then, many of the Arcadia foreclosures that have yet to find buyers are still out there waiting for the right offer, and that is one of the biggest reasons why more investors are looking to this area.
Another reason is that these homes simply offer more in terms of quality and convenience. Living in the Arcadia region of Arizona, home owners are treated to more immediate access to the night life and fine dining of the Phoenix area. One can also find quicker access to sporting and cultural events that really make the city come to life. At the same time, living here will not put one so close to the action that their privacy and safety is a concern. Arcadia is located in a low crime area and protected from heavy traffic due to its strategic placement in the community. The homes are also built to modern quality standards that hold up well over time.
If you are wanting to take advantage of a high quality development that possesses homes with values on the rise, then focus your efforts on Arcadia. Just make sure that as you do, you find the right agent to steer you through the local marketplace and to act on your best interests instead of someone who is simply looking to close a sale.