Are you considering investing in Scottsdale luxury homes? If yes, you need to be thorough with the Scottsdale luxury real estate’s existing market conditions. In the digital era, there are plenty of resources that you can use to make well-informed decisions.
A brief look at the real estate luxury market conditions in Scottsdale
The market conditions here are quite positive and upbeat– till the beginning of this year, there was a considerable increase in the sale of luxury home units in North Scottsdale. Trends indicate optimism – there has been an increase in the dollars per square foot and a decrease in the number of days the houses were on sale.
Reasons why the Scottsdale luxury real estate market is encouraging
- California, one of the state’s immediate neighbors, is marked by very expensive real estate conditions. The market prices of comparable homes in California are at least twice that of Arizona’s market prices, especially Scottsdale. One reason why the luxury market in the city has been booming for the last few years as a considerable amount of market interest – almost 60% of luxury buyers – comes from the nearby state of California.
- The other feeder state driving luxury buyers into Arizona, and more specifically, Scottsdale is Illinois. The reasons are more or less the same – the exorbitantly high real estate taxes in the state for the luxury market – the tax rate in Illinois is the second-highest in the country. The real estate tax in Arizona is about 70% less than that of Illinois. Plus, the weather conditions like heavy snow in winters push many interested buyers towards Scottsdale.
Buying and selling luxury properties in a booming Scottsdale luxury real estate market
Things look perfect at the moment to buy or sell a luxury home in Scottsdale. While buyers can look to get a decent deal, sellers too can expect to make good returns on their investment by putting up their property for sale at the moment.
Either way, one important and integral part of the process is hiring the right real estate agent who can help both parties. Hiring a real estate agent for a seller is as important as the buyer.
Seller: the agent helps you with your home valuation process. A meticulous agent will research in-depth based on the information provided by the seller to give you a free estimate of the selling price. A locally-based credible agent will use his/her membership with the MLS to access sale values of other homes in your neighborhood in the past six months for valuation of your property. The agent also helps you by highlighting things that should be done to attract buyers’ right kind.
Buyers: In a dynamic Scottsdale luxury real estate market, you can get lost and daunted with the kind of homes and deals you get. A local agent who is well-versed with the area, the inventory, and their core work will assist you by providing real-time data and scenarios to help you make a sound decision.