Long-time readers who aren't Wall Street Journal subscribers might have missed our mention. The story is behind the WSJ's subscription firewall and I don't want to tempt copyright lawyers by reprinting the entire article on this blog. You can read the article in its entirety here if you are an online subscriber or on page C10 if you get the print edition.
I talked with WSJ reporter Nick Timiraos about the growing number of cash buyers who see bargains amid the current housing price declines. Here's the quote:
"Cash investors have come right out and said, 'We can't make a return on our money in stocks or bonds,'" says Heather Barr, a Realtor based in Gilbert, Ariz., a Phoenix suburb. "They think Phoenix has had such sharp price declines that we've got to be near the bottom and real estate will be a safe place to put their money."
There are bargains to be had in the metro Phoenix real estate market. It’s increasingly easy to find properties in the suburbs that will cash flow immediately after installing a tenant. For those seeking a vacation home, houses are more affordable than they’ve been in years while mortgage rates are still near historic lows.
Looking for a bargain yourself?
We at The Phoenix Agents team have been working with bank owned properties and investors of all stripes lately so we're familiar with the banks' (often confusing) paperwork and requirements.
Click around and visit the various parts of our blog. We've got tons of great content, MLS searching with no registration required, and are ready to help you find the perfect property when you're ready to talk with an agent.
Browse properties listings.
- At the Phoenix Agents: the whole MLS or click here to search only Phoenix-area foreclosures
- At the Phoenix Real Estate Guy blog: property search (The Phx RE Guy is our broker and famous local blogger, Jay Thompson)
- All three links here search the same data source, the private Realtor's Multiple Listing Service (MLS). We just present the data in slightly different ways on-screen.
When you feel like you've browsed enough and done the homework you wanted to, give us a call. We'll help you negotiate the best possible deal we always provide world-class customer service from start to finish, and beyond.
Let the bargain hunting begin!
