The Road Thus Far
Since 2007, real estate owners and prospective homebuyers have been deliberating on when exactly the Cottonwood real estate market is going to fully recover. While some regions have been hit harder, some areas have been relatively untouched.
From 2010 onwards, Cottonwood, AZ’s real estate market has been gradually improving. Just recently, at the close of the previous year, there have been significant improvements. Nowadays, anyone who looks at the real estate market will see high levels of progress as it relates to renting, buying or selling AZ real estate.
As a result, anyone who has already invested in real estate or is thinking about getting their feet wet can now breathe a little easier. As real estate savvy individuals, we should all know that no one can fully predict the where, when, why and how of real estate market changes.
However, we can make educated guesses. In fact, analysts and experts recommend that you make knowledgeable predictions and use them to guide your future endeavors.
Buying vs. Renting
As stated previously, many domestic real estate analysts and experts have accurately foreseen the resurgence of the real estate industry. This improvement has already begun and the signs of its development can be seen throughout much of the country.
A question that should be asked is; “What is more cost effective- Buying or renting?” The answer to this question may vary across the entire country. Real estate markets differ from coast to coast; state-to-state; city to city and even neighborhood to neighborhood.
In general, right now is the time to buy real estate. One reason for this is the low (home mortgage) interest rates we are seeing. In addition, home prices have not appreciate much over the last several years and sellers are eager to sell. This means great prices and terms on home purchases.
What Does The Future Have in Store?
Interest rates seem to be on the decline, having had a relatively steady 4 percent decline since 2012. Even though interest rates could always do a 180-degree turn and increase once more, many analysts agree that for the majority of the country there are no impending real estate dangers.
Of course anyone buying real estate should always exercise caution. If you do not have complete command of your real estate market, it is strongly suggested you find a realtor to help you navigate the waters.