All you hear is that real estate is a buyer's market out there. All the prattle about offering the seller 10 - 20% off list. Well it maybe or maybe not a buyers market in some areas and even in pockets in those areas it can or cannot be. A lot of the markets that are being shown by the media as being recessed and prices still dropping actually have seller's market within them.
Where I market homes there are so many micro markets (markets within a a larger more defined market) that it can get you sort of crazy. Even within these smaller more defined micro-markets there are other smaller more defined markets. TakeSun City Grand, Surprise Arizona for an example. This is an active adult community within the city of Surprise Arizona. It has some 9,500 plus homes ranging in price from the upper 100's to the low 700's. It is a micro-market within the City of Surprise. The prices and stability of prices in Sun Cty Grand outshine the entire surrounding area. People from around the country come here expecting to buy homes like they see in the City of Surprise for 50 - 70 dollars per sq foot. It just is not happening!
Sun City Grand's prices are substantially higher per square foot than it's main community of Surprise, Arizona, and within Sun City Grand the price and markets vary also. There are price points like $150,000 to $250,000 that are in much higher demand and are actually in a seller's market. The golf course lots that were once in the highest demand have diminished in appeal and are now a buyer's market.
When our clients come from outside and area to markets like Sun City Grand or Sun City West we have to educate them and show them where the micro-markets are and help them make much better informed decisions. Our value as Realtors® is no longer in showing or finding homes for our clients, but in educating them about the buying and selling process. We thereby make them better buyers and sellers. The more they understand the logistics of the areas and where the micro-markets are the easier the sales process will be from both sides for them and for us.
The bottom line is that, as it has always been, there are markets within markets and there is no one Buyers or Sellers Market anywhere in this country. Education and communication are still our greatest assets.
If you have a client that is looking at the Metro Phoenix area particularly active adult communities like Sun City, Sun City Grand or Sun City West please contact me Gene Fraleigh at 623-670-9089 and perhaps I can be of help to them and you.