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Tuesday, October 2, 2007

The Secret Buying Season In Arizona Real Estate

Have you always dreamed of owning that great golf course getaway home on the 10th fairway of one of Arizona's top-notch golf communities? Your dream and about 50 million other people just like you. But some of them actually make the dream happen. They know some secrets to the golf and luxury home market in Arizona that the average handicapper doesn't.

We all know that this year has seen some of the most significant price reductions in golf and luxury properties since the Savings & Loan bailout of 1991. We all know it's a "buyer's market". But what distinguishes the people taking action from the people just dreaming about the chance to own a home on the golf course is the power of information, and acting on the right opportunity.

Some people know about the "Secret Season" in Arizona real estate. Here is the strategy in a nutshell. Serious buyers - those people who want to own that home on the golf course or in a luxury resort community in Scottsdale or Phoenix - come out in what is called the "off season". The off season in Scottsdale and Phoenix, Arizona runs from mid-May to October. This is the time of year when most of the golf courses dramatically reduce their greens fees, resorts offer special pricing on spa packages and hotel stays, and sales in real estate slows down. After all, it isn't anywhere near as fun to run around looking at luxury homes and golf villas in 110-degree heat versus doing it when there's a crispness in the air, and the daytime temperature is something more bearabale, say 75 degrees. Couple this off-season with the fact that we are in what has been the best buyer's market in real estate in almost 15 years, and you can see there are definite advantages to buying during the off months.

And for those of us that are serious about buying, that is exactly what is going on. Buyers are coming quietly into the Scottsdale and Phoenix market in the dead of the off season, and buying up properties which have been languishing on the market. And they are getting these homes at prices which they could never get them at during high season, which is the peak buying period for Arizona real estate, hence there is more competition in the market. The smart buyers who are buying up their next second home, vacation home or golf getaway now, are also making out well with negotaiting what they want out of the deal, since there is nowhere near the number of buyers in town that there will be come November. With fewer buyers in town, and sellers becoming more aggressive on their terms, it becomes an attractive strategy. Even if it means having to do your house hunting in the dog days of summer in Arizona.

If you want to learn more about leveraging the off-season for real estate purchases in the Scottsdale, Phoenix, or anywhere in the Valley of the Sun, feel free to send me your comments or questions at Jean@JeanGlass.com

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