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Tuesday, July 08, 2008

Reading the Numbers for Gilbert Arizona

If you are thinking about buying or selling real estate in Gilbert Arizona, you need to be well armed with good information. Here are some interesting statistics for us.


At the current absorption rates Gilbert Arizona has:


Price Range Currently Active Months of Inventory

$1-199k 316 3.2


$2-299k 771 4.0


$3-399k 442 5.4


$4-499k 249 8.4


$5-599k 120 12.9


$6-699k 93 23.3



So what does this really mean, oh number crunchers? To me, it means the more expensive home you have to sell, the less chances you have to sell it in a reasonable manner. It also means, the more expensive home you want to buy, the better chances you have of getting a great deal because those people are desperate.


Therefore maybe you can afford a higher mortgage payment but you really want someone else to pay your closing costs and maybe even your down payment, the $400k price range might be the way to go.


The other good news is that in the first three tiers, pending contracts have risen each month in the second quarter of 2008. That to me is a hard fact that the bottom rung of the real estate ladder is getting active again, which is the basis for the whole kaboodle. If the first time buyers aren't getting into the market, then ain't nobody moving up.

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Elena Thurston, Family Realtor @ 10:04 AM
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Name: Elena Thurston, Family Realtor
Home: Gilbert, Arizona, United States
About Me: My passion is Family Real Estate. Families need more than just a nice house, they need a neighborhood and community where they can give and receive a feeling of home. I am one of the rare Arizona natives. I received my bachelors degree at Arizona State University and my real estate license at Arizona School of Real Estate and Business.
See my complete profile


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