New Home Market in Gilbert AZ is Picking up

Gilbert, AZ New Builds Are Picking up!

The new home market in Gilbert has been showing signs of life lately. Many future home buyers are now going out and viewing model homes in the new communities around Gilbert. I frequently talk with the onsite sales people in these communities and have been getting very positive feedback about their upswing in recent activity and home sales. The low inventory of resale properties available in has contributed to many home buyers turning towards the new home market to find their next property in Gilbert, AZ.

New Homes for sale in Gilbert, AZ

In my visits to the new home communities around Gilbert I have noticed several of the local builders have also started to raise their home prices. Recent real estate reports on the new home market have shown positive signs for 2012 and beyond. The price increases show the confidence that the builders currently have in those real estate forecasts about the new home market. Most new home builders here in Gilbert feel they have turned the corner on their downward trend and expect this increased business to continue throughout the coming year.

Contact us today to find out more information on how we can save you money on your new build in Gilbert, AZ
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A Whole New Strain of Investors Steps Forward In Gilbert

A Whole New Strain of Investors Steps Forward In Gilbert, AZ

Mom and Pop investors are seeking to maximize the depressed real estate market (including Gilbert, AZ) with the idea of one day being in position to profit. A write-up in USA Today highlights this new type of small-scale investors who choose to purchase and hold properties, as an alternative to the high-dollar large investment businesses that once dominated the housing market who preferred to purchase and flip their investments.

For “mom and pop investors,” the tactic is to shop for homes at rock-bottom prices, rent the them out to cover all of their costs of owning a home for some time, and then eventually sell the homes when prices recover.

The Newest Gilbert, AZ Real Estate Investors

Investors purchased greater than 26 % of single-family homes and condos in 167 U.S. markets inside the first nine months of this past year, according to data furnished to USA Today.

For investors from the rental market, an 8 percent annual return is pretty normal, says experts .That implies that a person that buys a $100,000 home- and pays all cash – makes $8,000 annually after expenses, including maintenance and taxes notes the USA Today article.

Obviously, the threats of tenant and maintenance issues has the possibility to derail that potential profit, so investors should be cautious before leaping in, some experts warn.

Gilbert, AZ is no different.

I am finding that many of my new investors are looking to retire in a few years and buying a one or two homes to rent out. When the Gilbert, AZ real estate market changes they will sell their investment homes as part of their diversified retirement plan.
If you are looking for an investment home in Gilbert, AZ or the east valley give us a call and set up no strings consultation
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Better Your Chances in Buying a Gilbert, AZ Home In Foreclosures

Gilbert Foreclosures and how to increase your odd in buying one these homes.

As of today there are 68 active Bank Owned( REO ) homes for sale in Gilbert, AZ. They are not always easy for an average Gilbert home buyer to get. Sometimes these homes can sell for as much as 34 % lower than traditional home sales. These bargain prices are bringing in investors and cash offers, which can make it harder for the average home buyer to win these bids.

How can the average home buyers compete for these Gilbert foreclosure?

 Gilbert Foreclosures for Sale - Gilbert AZ Foreclosed Homes

Check out the First Look program: The First Look program offered by Fannie Mae and Freddie Mac’s gives the first-time home buyers, owner-occupant  and others who are financing for their  primary residence the first chance to see bank-owned homes before investors. These Buyers have up to 15 days to submit offers before investors are allowed to start bidding.

Make a competitive offer: Home foreclosures priced below the market value can be in high demand and draw in multiple bids. Low-ball offers will not likely go very far. I believe you should start with your best offer. Offer the most you feel comfortable with. You would not want to lose your dream home over a couple of hundred dollars.

Make a large earnest money deposit: If want to get the banks attention and show the you are a serious buyer, you could offer a larger than normal good-faith deposit. The only drawback is if you back out of the deal for some reason, you may be at risk of losing your earnest money deposit.

Even if you really want the home, don’t fall for unreasonable demands, like waiving a home inspection. That could be a decision you end up regretting if your new Gilbert home is riddle with problems.

Questions to Ask Before Buying a Gilbert Foreclosure

4 Simple Questions to Ask Before Buying Your Gilbert Foreclosure.

Gilbert Foreclosures for Sale AZ Gilbert Foreclosed Homes

Gilbert Foreclosures can be huge deals but, buyers should be careful that they don’t get in too deep purchasing a home that may need more fixing up than they planned for.

Foreclosures are typically sold as-is meaning as you see it. When a property owner wants to sell “as-is” it means that the owner does not want to make any repairs or give credits towards repairs. These homes usually have been vacant for quite some time and have a lot of maintenance issues.

I think Gilbert buyers should consider the these questions:

1. How many days has the home been vacant? Be careful of a foreclosed home that has been empty for more than a few weeks or the utilities have been turned off for any extended amount of time. Home can deteriorate quickly when power and running water have been shut off for a while.

2. When was the house built? Older homes may have a bad or soon to be bad plumbing system or failing electrical wiring.

3. What is the general appearance? Are there smashed windows, missing roof tiles, or damaged siding? Trust your gut. If the home looks bad from the outside, it is more than likely worse than you think.

4. What is missing in or around the house? Former owners may have remove or sold anything of value from the home, examples: light fixtures, tile, built-in appliances, water heaters, AC units, and Pool filters.

I suggest all buyers to get a home inspector to look over any property especially Gilbert Foreclosures, even if it is sold as-is, so that home buyer knows of any problems and how much it will cost to repair before they purchase the home. For a professional and reliable home inspector I highly recommend Orlin Egbert with Home Advantage Home Inspections.

Purchasing a Gilbert bank-owned home can provide you the opportunity to enter the Gilbert Real Estate market at a lower price range and you can find fantastic deals with foreclosures, especially if they are not in too bad of shape. But, remember, these homes are discounted for a reason.

Take a look at all these Gilbert Foreclosures and Short Sale Homes for sale:
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