Frank Insights From Private Money Loans Arizona
Welcome to Real Estate Investing Today brought to you by private money loans arizona.My name is Ryan Wright, thank you for joining me
. Today I want to talk to you about the market place. As I visited with arizona hard money lenders there are lot of things that I have been seeing in the arizona market place that I think it is important for you to realize.
The first thing is that in arizona there has been a 50% decline in the sales month over month over the last month and I think that is important to realize that there are less buyers.There are less people going into market place looking for properties and some people say that has to do with tax credit or whatever the case may be. As I visited with few other hard money lenders in arizona they had few philosophies. One is the buyers tax credit.The other is that the buyers tax credit actually pulled the future buyers into the market place early and that is why buyers available are going down.
I would like to think that no matter what, if your home is the nicest home and the least expensive it will sell. I do not care what the interest rates go to. I do not care what is happening in the economy in the market place it does not matter. If you have the nicest house for least amount of money your property will sell, no questions asked always no matter what.
As I talked with other hard money lenders in arizona I think it is important to realize the availability of buyers. So if you are under $250,000 price range I would estimate that 80% of the buyers are there. If you are over $250,000 between 250 and let say 500,000 about 10% of the buyers are there. And from 500 to a million let say about 5% of the buyers there and million up give another 5%. I am estimating here.It is just based upon my knowledge and reasoning with arizona hard money lenders and getting idea for what is the availability of buyers and I think that is important because the higher you go in your purchase or your sale price the fewer buyers available people that could purchase, there are.
So if you want the biggest thing for a bucket you want best odds of selling you want to keep the price under 250,000 because odds are you will be able to sell the property under 250,000 because the most amount of buyers are there in that price range. So staying under 250,000 is the tip that I think is extremely important as I talked to arizona private money loans. I think that is some thing you want to be aware of. The next thing is pricing a property accurately. Because if you are doing regular price reductions, which a lot of people are when they are trying to sell a property that is a good thing to do but you have to be careful that you are looking at the comparables. You are looking at the actives. You are looking at the solds and I think it is important to look that is under contract.
by: Jeff Risk4
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