Why Are So Many Houses For Sale In The Phoenix Area? (Glendale: mortgage, environment)

[Nice Nice Baby!]

Better get a new realtor, because summer time is always the best for sales. It's when people have the time to relocate. They take vacations and the kids are on break. Phoenix metro saw a slight uptick in March due to the holiday sales. There is a lag because it takes a couple months to close on a house. It's best to listen to your own advice than the opinions of others! So ignore mine if you choose.

[beanchokiki]

interesting...so many say it is awful in the summer...guess I will find out, we are almost there!

[foma]

The beginning of the year experts blamed it on the weather. Now they are blaming it on summer heat/vacation. Any more excuse?!?!?!

All I know is that I don't get why prices are so high. There are a ton of homes and it's not like there isn't enough land. Yeah, I know PHX metro is running out of space so I can understand home values increasing there but out in Buckeye? No way! Empty land after land after land. There are a ton of places to build yet sellers are trying to sell their homes for same (or even higher in some cases) as new homes. I totally don't get it!

It's frustrating for me b'c we're going to be first time home buyers. It's not like we're loaded or have another house to sell and get the profit from there. We're having to do it the old fasion way, save save save! We keep saving and prices keep going up! The frustration!

[sheena]

Originally Posted by 63ragtop

I thought that too as that is the norm in other areas I am familiar with but at least according to my Realtor, summer sales are always slow due to the heat.

I don't want to say he or she does not have a clue, but....................

[sheena]

Originally Posted by foma

The beginning of the year experts blamed it on the weather. Now they are blaming it on summer heat/vacation. Any more excuse?!?!?!

All I know is that I don't get why prices are so high. There are a ton of homes and it's not like there isn't enough land. Yeah, I know PHX metro is running out of space so I can understand home values increasing there but out in Buckeye? No way! Empty land after land after land. There are a ton of places to build yet sellers are trying to sell their homes for same (or even higher in some cases) as new homes. I totally don't get it!

It's frustrating for me b'c we're going to be first time home buyers. It's not like we're loaded or have another house to sell and get the profit from there. We're having to do it the old fasion way, save save save! We keep saving and prices keep going up! The frustration!

Prices have gone down now not up, I lost probably 30,000-35,000 since the big boom. They will probably come down even more.

[sheena]

Originally Posted by beanchokiki

interesting...so many say it is awful in the summer...guess I will find out, we are almost there!

Summer is hot but also hot for home sales. It slows after school starts and then you see more price reductions.

[63ragtop]

Originally Posted by Nice Nice Baby!

Better get a new realtor, because summer time is always the best for sales. It's when people have the time to relocate. They take vacations and the kids are on break. Phoenix metro saw a slight uptick in March due to the holiday sales. There is a lag because it takes a couple months to close on a house. It's best to listen to your own advice than the opinions of others! So ignore mine if you choose.

I don't if it's true or false, I'm just saying she said she historically sells the most houses after the beginning of the year and before summer.

I looked at my particular zip code on
http://www.azcentral.com/class/marketplace/homes.php
and July and August are lower than a lot, but not all, of the other months of the year. February looks the weakest. March this year was higher as you reported above.

[foma]

Originally Posted by sheena

Prices have gone down now not up, I lost probably 30,000-35,000 since the big boom. They will probably come down even more.

You are right Sheena ... I have noticed a drop. Mainly people who have had their homes on the market for a while. The problem is, the asking price was so high to begin with that even dropping the prices we still couldn't afford buying a decent home! Well, we could but then we wouldn't be able to save/spend money elsewhere.

I guess if you are a buyer or seller it's tough times ... definitely tougher for buyers though. The price of everything is going up!

[sheena]

Originally Posted by foma

You are right Sheena ... I have noticed a drop. Mainly people who have had their homes on the market for a while. The problem is, the asking price was so high to begin with that even dropping the prices we still couldn't afford buying a decent home! Well, we could but then we wouldn't be able to save/spend money elsewhere.

I guess if you are a buyer or seller it's tough times ... definitely tougher for buyers though. The price of everything is going up!

Yes I agree the prices are still inflated.

[jco]

Originally Posted by sunshinecities

Does anyone know why so many people seem to be leaving Phoenix? Or, does it just seem that way since it's such a large place? Overall, in the country it is a buyer's market, but there seem to be a really lot of places for sale in the suburbs of Phoenix. For those who are leaving why are you leaving? At the same time, I realize there are still many many people coming in too.

More people are moving here than they are moving out. The home builders and investors have made the market what it is. In 2004-2005 investors bought tens of homes from new home builders and turned around and sold them right after they were finished. In the six months it took to build it, they made thousands of dollars on each one. The market went down and all the investors are stuck with their houses. Really, I don't think this sort of thing should be allowed.