Why Buying in Phoenix Still Makes Sense

(Information accurate as of 2/25/22)

Why Buying in Phoenix Still Makes SensePhoto byKelly Cook

In the face of mounting concerns about a potential market crash, the question of whether to wait before making a real estate investment has been a common inquiry among many clients. Addressing this query head-on, it's important to recognize that although prices have experienced a sustained upward trajectory, there seems to be no imminent crash on the horizon. In fact, the current market conditions in the Phoenix area suggest that opting to buy instead of rent remains a prudent decision. For a comprehensive understanding of the rationale behind this perspective, I delve into the topic in my most recent video.

Inventory is slowly trickling into our market - The influx of inventory into our market is occurring at a gradual pace, as depicted in a recent YouTube video. This development signifies a noteworthy shift in the availability of products. The video highlights the measured and steady nature of this process, which could potentially have far-reaching implications for consumers and businesses alike.

Our supply and demand are real, unlike in 2008 - In contrast to the speculative bubble that led to the 2008 financial crisis, the current supply and demand dynamics in the market are grounded in reality, as highlighted in a recent YouTube video. The video emphasizes that the present market trends are not driven by inflated asset values or reckless lending practices as seen in 2008. Instead, there is a tangible alignment between supply chains and consumer demand. This distinction underscores a more stable economic environment, supported by genuine market forces rather than unsustainable speculation, offering a sense of reassurance amidst uncertainties.

Why you should buy instead of rent - The video highlights compelling reasons to choose buying over renting. It underscores how purchasing a home offers long-term financial benefits, including building equity and potential for property value appreciation. The stability and security of homeownership are emphasized, along with the freedom to personalize and modify the living space to one's preferences. Tax advantages and the potential to generate income through property investment are also discussed as key incentives for buying a home. Overall, the video strongly advocates for the advantages of buying as a wise and strategic financial decision.

It costs way less long term to buy instead of rent - The video emphasizes the long-term cost advantages of purchasing rather than renting, highlighting the financial benefits that ownership can bring. By buying a property, individuals can build equity over time, effectively investing in their future while avoiding the continuous drain of rental payments. The video points out that while the upfront costs of buying might be higher, the accumulated equity, potential property value appreciation, and the absence of rising rental prices can ultimately make buying a more cost-effective choice over the years. Additionally, the sense of stability and control that comes with homeownership is emphasized as a valuable intangible benefit.

Why it’s still a great time to buy - In the featured YouTube video, the presenter highlights compelling reasons why the current moment remains an excellent opportunity for making a purchase. It emphasizes several key points, including the stability of the market, advantageous interest rates, and the availability of a diverse range of products. The presenter discusses how market trends suggest a consistent and reliable environment for buyers, underscored by manageable fluctuations. Additionally, the prevailing low interest rates contribute to favorable financing options, enhancing the affordability of purchases. Furthermore, potential buyers can explore a wide array of products to suit their preferences and needs. Overall, the video encourages viewers by outlining the stability of the market, attractive financing possibilities, and the diverse selection of products, collectively making the present a propitious time for buyers.

Kelly Cook has been a licensed Realtor in the Phoenix Valley for over 18 years and is the Team Lead of Cook & Associates Real Estate Advisors! Kelly Cook and his team of 25+ agents can be reached through email at info@cookandassociatesaz.com or by phone at (480)442-9868. Visit our website at www.myhomevaluecalculator.com to find out your home’s value.