Jump to content

Phoenix market improving


ERICOPOLY
 Share

Recommended Posts

http://online.wsj.com/article/SB10001424052970204653604577251232717986316.html?mod=WSJ_hp_LEFTTopStories

 

Nearly 29% of homes sold last month went to buyers who indicated they planned to rent out the properties, according to the Cromford Report. That figure has been on the rise over the past two years. In mid-2010, the share stood near 15%.

 

Competition from investors is frustrating for aspiring first-time buyers like Adam Brenner. "This does not feel like a buyer's market at all," says Mr. Brenner, a pharmacist who estimates that he has looked at 60 houses since last fall. "You hear and read about how there are so many homes for sale, but once you start looking, it's a pretty big shock."

 

Many real-estate agents have reported more bidding wars in recent weeks, and some buyers are agreeing to escalation clauses, a bubble-era provision where they agree to pay a certain price above the highest offer.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...