Price Reduced Homes in Val Vista Lakes
Homes in Gilbert are highly desired because of Gilbert, Arizona’s reputation for being a friendly family oriented community. Originally a small farming community outside Phoenix, the Town of Gilbert has grown and now is the fastest growing town in America. Voted one of America’s Most Saintliest Cities, Gilbert home values are much higher on average than most areas in the Phoenix Metropolitan market. Hovering around $294,800; the homes in Gilbert have dramatically increased in price since the low in 2010 and 2011. Right now, the average listing price in Val Vista Lakes is $500,000; finding a good deal is important and can potentially save you lots of money you can apply to customizing the home and making it your own.
Currently there are 2 price reduced properties in Val Vista Lakes. Seeing a price reduced property can really give you some insight as to what is going on not only with the real estate market, but what might be going on with the sellers as well. When you see a lot of price reduced properties this might be a sign that the market is changing. Either there have been a large influx of properties that have been listed, or the market is taking a down turn. When there is an influx of inventory, there is more competition for getting a home sold. This drives the price of homes down because supply has gone up. Additionally you would call this a Buyer’s market.
When you see a low number of price reduced properties on the other hand, that means that home prices are probably going up and there is balanced or low inventory. Seeing a price reduced home can also signal that the seller is motivated to sell. Home owners always want to get the highest price for their home, even if that price might be above market value. When it’s listed they might want to market it for higher than market value and then have to do price reductions after it doesn’t sell. This can be really detrimental for the seller because now they are perpetually trying to catch up with the market. Historically, the longer the home is on the market, the less the seller will get for it.
Homes in Val Vista Lakes are selling for top dollar right now, so if you see one that you like, contact us because it won’t be on the market for long!
Recent Comments