Demand & Desire

 

When hearing about Fireside at Norterra, you may have seen phrases such as "sought after" and "highly desirable".  It's easy to dismiss this as mere marketing, but the numbers actually back up those statements. At the time this article was written, fewer than 10 homes in Fireside were listed for sale. That means more than 99% of homeowners are choosing to stay right here in Fireside. What an incredible level of demand!

It's not as if homeowners don't have choices. There are over 120 homes for sales in this zip code, and more than 15,000 homes for sale in Metro Phoenix. Even with all the new home construction in and around Fireside, residents here are staying put. This is partly due to people wanting to get past the holidays before buying or selling. But the desirability of our community also comes into play. By and large, our community is clean, quiet, and well-maintained. Those are desirable traits year-round.

For anyone wondering how to react to the current supply & demand dynamic, here are 4 takeaways:

1. Comp prices in Fireside at Norterra will be different than surrounding communities such as Valley Vista or Dynamite Mountain Ranch. Amenities make a difference, and Fireside has lots of them! Keep this in mind when pricing a home (or shopping for one).

2. The type of financing can be more important than the sale price. Cash is king, as they say. But the next best thing is a buyer who's prequalified for a home loan. The less uncertainty you create before closing, the better.

3. As a buyer you'll never lose money by waiting - but you might lose the house you want. If you see a home you like in Fireside, expect that other shoppers see it, too. Bottom line: Make an offer you're comfortable with - and don't drag your feet!

4. The best offer isn't always about money. Offers with no special accommodations are generally viewed in a more favorable light. Contingencies, demands, and "fix-its" can quickly turn into dealbreakers - especially if a less-demanding buyer is bidding on the same house.