Arrowhead Ranch Home Prices are up 33%, what does it mean for you?
I was surprised to see the numbers myself. I knew values were up, a lot, but I hadn’t figured out the exact percentage and it was kind of shocking. Supply and demand are out of whack in the housing market here in Arrowhead and in Phoenix and prices will continue to rise. The question is, what does that really mean for you and your situation?
If you’re looking at buying a home in 2022, it means you’re going to face stiff competition on homes and increasing home prices. Interest rates are still very low and unless they push upward, its not an awful time to buy.
If you’re considering selling your home or a rental property, it means you’re in the driver’s seat and will have intense competition from buyers wanting to purchase your home. If you prep your house the right way, you will see multiple offers over asking price.
If you’re not wanting to move, it means there may be an opportunity to use your increased equity to improve your home, or pull out cash to purchase an investment property. If you have mortgage insurance currently or your interest rate is over 4%, you are definitely a candidate for refinancing your mortgage.