Everything is not the doom and gloom with real estate that some politicians and anti real estate investors would have you to believe. In fact, a recent study from the S&P/Case Shiller index reveals that, in Phoenix and all across the United States, things are improving significantly. Whether that's because of the president (or because the president is down in the polls to his opponent) is of no consequence. The important thing to remember is that things are improving, and you can get in on the action for yourself. Phoenix is a great place to start if you're ready to buy, as home prices have seen a steeper than usual increase over the last 12 months of around 14 percent. There have also been fewer foreclosures.
What the good news means to you
The good news is actually great news if you plan to invest in a home or land any time soon. With home prices moving up that fast in the Phoenix area, the time to buy in is now. If you are content to wait several more months, then you may not be able to maximize your investment. That's why it is so critical to get in the game now. Real estate prices typically do not increase and decrease with the same volatility as the stock market. Then 2008 happened, and the housing market has been in the doldrums ever since. But now that the market is finally showing signs of recovery, one can expect a similar level of increase. And buying while home prices are still deflated can get you stock market worthy returns.
Why it pays to invest in Phoenix
Phoenix is a city of great civic pride. It is on the rise in both population and job growth, so the outlook for the long term is better than average when compared to many of the other states in the country. Investing in some of the finer developments that the city has to offer will almost guarantee your success.
But the opportunities are diminishing...
The bad news, or down side, to all this good news is that timing will be of the utmost importance, and missing the boat now will pretty much guarantee that you have passed up a once in a lifetime opportunity. If you are financially capable of owning a home - meaning that you have a good credit score, a steady and strong source of income, and the willingness to grow your investment over time, then you can make more money in real estate - and get a far better home - than at any other time in the 20th and 21st Centuries.
With a quality agent and a readiness to buy, the sky is the limit.