PHOENIX – It’s no secret that the Valley’s home market is on fire right now, as hundreds of people move to Maricopa County every day, but there are not enough homes to go around.
“We’re getting to the point where we put an offer on homes within an hour of them coming on the market,” said Brian Goldrick, a homebuyer from Seattle.
Like the Goldricks, there are buyers who move to Arizona from places like Washington, California and Illinois, and for them, home prices in Phoenix still seem like a bargain compared to their area.
“Homes that have sold basically within a day and they have 40 offers on them,” said real estate agent Patrice Pimentel.
Pimentel says buyers have resorted to waiving appraisals and inspections to make a deal, and easily paying $20,000 to $25,000 above asking price.
Pimentel, who has 20 years of experience, calls it insane.
“Anything from $350,000 to $450,000. Those homes, literally as soon as they hit the market, they are gone, so buyers have to be very ready in this market. It is absolutely insane right now,” said Pimental.
As for the Goldricks, after five offers and paying plenty above list price, they got a house in Gilbert. In the end, they say it was well worth it.
Good weather and relatively good prices are the two main reasons so many people are moving to Arizona. Pimental is urging buyers to hang in there, as they will eventually find a home, even if it is probably more expensive than what they bargained for.