How is the real estate market doing? First of all it’s a buyers market. This is a great time to buy because there are lots of home owners competing to sell their homes. This brings the price down for the buyers. In most situations (excluding those who have purchased a home in the last 2 years or those who took out an unconventional loan like an ARM) the sellers are still making an above average return on their investment. Now is a great time to buy because you can negotiate great price and there is a lot of housing inventory to choose from.

Has the market collapsed or is  the bubble  bursting?  No, not in Flagstaff.  Prices are down slightly mainly due to: 1. Supply with less demand which leads to competition and price reductions. 2. Inflation of home prices above the value of the property. 3. The lending market. Over the past few year buyers have been taking out Adjustable Rate Mortgages (ARM's), interest only loans, and other unconventional loans that go them into a property at a low and affordable payment. With rising interest rates, their payments have become too expensive to afford and a buyers market has made property difficult to sell quickly at a profit. What are the options if you are in this situation?  Refinance (if you can qualify and afford it), foreclosure or the sale of your property for less than market value.

So how's is the real estate market? It is great for buyers and decent for most sellers.
Check our website www.villagelandshoppe.com for some great Flagstaff Real Estate Properties.