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Do you think the prices of homes will go down in Chandler, AZ next year?

I am planning to buy a house in Chandler, AZ. I was wondering if the prices of homes are gonna go down throughout next year. I am not sure whether to buy now or wait 1 more year to buy. 
  • June 10 2012 - Chandler
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Answers (7)

Hopefully the original poster has purchased by now as prices have probably gone up 18-20% since they originally posted. My best *guess* is you will see another 10-15% this year with most of that coming in the first half of the year. Then I expect more homes to start hitting the market and the market to start slowing to a closer to normal growth. 

One thing to remember though is price point. The lower part of the market has risen over 50% in the last year while the upper part has only gone up 18%. So price point is important I think when looking at how prices will go up.
  • February 05 2013
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Nobody knows for sure, but like other have stated prices are slowly increasing.  Now is a great time to buy since interest rates are so low. Have you spoken to a lender yet? It's a good idea to get an estimate of your monthly mortgage payment. 
Chandler is a wonderful place to live! Good luck finding a home. If you need any help, contact me. 
  • January 14 2013
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Based on the way the market is going right now, they should continue to slowly increase the rest of this year and next year.  But you never know when something could happen with the world, national, and local economy to change the current trend. But based on how the makret is acting and looking right now, I think it is safe to say that the average price of homes in Chandler will continue to go up next year.
  • August 16 2012
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Average and median prices have been increasing in Arizona in the past year and many listings are getting multiple offers. Some homes are even receiving offers over list price and some buyers are willing to waive all or part of the appraisal contingency. From my personal experience,that includes both investors and owner/occupant buyers. Talk to your Realtor about your specific situation and objectives and try to determine what purchase timeline makes the most sense for you. You should likely factor in the competition for the age, condition, and location you are seeking.  Newer homes in and around Chandler that are in good condition and priced at current market are in high demand, so the price going forward is more likely to increase rather than decrease.  If you are willing to consider an older home or one that needs some TLC, you may be able to find properties that have less buyers looking at them. Remember though that every buyer is hoping to get "a great deal" but the buyer who is willing to pay current market value (and sometimes a little more) is the one who usually ends up getting the home of their dreams.  And as Andrew pointed out, you must be prepared to ACT  when the you find the right property.  Good luck on your home search!
  • July 17 2012
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Congratulations in thinking about purchasing a home! It is a great investment. 

As far as your question, I can honestly say, WHO KNOWS! But many of the experts are saying we have seen the bottom of the real estate market, and we are actually seeing an increase in the home values in the last months.  I know with the historically LOW interest rates you might want to consider buying soon instead of later. It is very hard to say for sure the prices will continue to go up, but with the economy starting to stabilize and move upward it is a good indication that the market will do the same. Let me know if you are interested in more information or need a great lender please call, text, or email me!
  • July 16 2012
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Being an educated consumer is your best bet.  If Chandler is where you want to live, then you need to start looking at homes and neighborhoods as frequently as possible.  Understanding what you want in a home, where you want that home, and that you are ready to act are better barometers of when is the right time to buy.

Home-buying is a competitive endeavor; you must put out a lot of effort to find what you want.  The good news is that in real estate "The Deal of a Lifetime" comes along about every 30 days, but only if your are prepared to act upon it. (Get prequalified for a Mortgage and get a qualified Realtor with whom you feel comfortable).

Home prices may or may not go up next year, (I think they will go up). Mortgage rates are at historic lows, so they can really only go up from here. What will definitely and absolutely be more expensive next year will be the total cost of buying a home. Taxes, fees, pre-paids and other closing costs ALWAYS go up.

  • July 15 2012
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Profile picture for sunnyview
It's really hard to say. The numbers there look pretty good right now, so I guess I would probably start looking now to choose the right property for you. It's anyone's guess where interest rates will be after the election and the prices will also depend on how the supply of homes is in the area too.

If you are interested in buying, I probably would look now and not roll the dice to try to get the last little dip that may or may not happen. Choose the right property, seek value in your market and don't try to time the lowest low.
  • June 10 2012
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