For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.
It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!
According toCoreLogic’slatestHome Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.
These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.
This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching foryourstarter home to help them achieve their American Dream!
If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!
CENTURY 21 Arizona Foothills began its real estate journey in 1988 as a small, non-branded boutique office with just four agents called Ahwatukee Foothills Realty. Over a year later, we joined the CENTURY 21 family and began growing our company. Currently, CENTURY 21 Arizona Foothills has seven strategically placed branch offices and three satellite offices to serve the entire Greater Phoenix area.
The real estate market is always changing and as a result, our agents regularly attend training sessions and events to further their knowledge and be sure that they are focusing on current conditions that affect today's buyers and sellers. Our goal is to make sure that we satisfy the special needs of all our clients and at the same time make the process and transactions go as smoothly as possible.
An evacuation plan is a necessity for every home, especially if you li
"Working with my Century 21 Arizona Foothills agent has been a true pleasure. I relocated to the Phoenix area and quickly determined that the Gilbert area was a great fit for my family after meeting with our agent. Our agent was able to explain the Arizona real estate market to us and help us narrow down our home search based on our criteria. We love our new home in Gilbert and would recommend Century 21 Arizona Foothills to anyone!"