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Information About Oro Valley Homes
Oro Valley Real Estate Cycles
In the business cycle of real estate, there are buyers' markets and sellers' markets...and some markets in between. It is all based on supply and/or demand. Oro Valley is no exception.
There are times when the economy is brisk and everyone feels confident about his or her prospects for the future. As a result, they spend money. People eat out more, buy new cars, and... they buy houses, namely Oro Valley.
Then, for one reason or another, the economy slows down. Companies lay off employees and consumers are more careful about where they spend money, perhaps saving more than usual. As a result, the economy decelerates. When there are fewer people in the market to buy homes. This is true for the Oro Valley real estate market as it is for all markets nationwide.
Oro Valley Real Estate Cycles
What makes most sense is the "buy and hold" strategy. Buy a home you expect to remain in for at least seven years or more. Oro Valley is no different than most, although the Oro Valley market does have it's own special circumstances.
Want to get a clear and up-to-date picture of the Oro Valley real estate market? Call me at any time. I am happy to share my knowledge of the real estate market with homeowners and prospective homeowners who want to take advantage of market trends to buy and/or sell wisely.
Oro Valley: Art and Science
Buying a piece of Oro Valley real estate is a science but buying your Oro Valley home is an art. The science part involves getting the legal and financial parts down while the art is finding the Oro Valley property that you’ll be happy with.
The total universe of possibilities within the universe of Oro Valley real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.
In general there are two phases to any Oro Valley real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Oro Valley real estate that meets all or most of your specifications.
Building Oro Valley Home Equity
As a Oro Valley homeowner you have the right to pay more towards the principle loan amount each month. Let’s say your monthly payment is $700.00 a month and $100.00 a month is being applied to the principle. If you choose to pay $900.00 instead of $700.00, the $200.00 overage will be applied entirely to the principle. Thus, instead of gaining $1,200.00 a year in Oro Valley home equity, you gain $3,600.00.
The only factor being considered here is Home Equity. In individual cases it may be wiser to invest than to pre-pay your home loan. It also may be wiser to pay off high-interest, non-deductible loans before considering your Oro Valley home equity building options. Your financial advisor is the one to consult for these matters. If you would like up-to-the-minute information about Oro Valley home appreciation values in your area, please call or E-mail me today.
The Benefits of Selling Oro Valley
In order to sell Oro Valley as your personal residence, you must have lived in it for two out of the five-year period ending on the date of the sale of the property. This means that you can buy a second home and live in it as your personal residence while renting out your first home. If, in a couple years you decide to sell your first Oro Valley personal residence you can sell it and still benefit from the $250,000 to $500,000 Capital Gain tax exclusion. The law says that the home must be your personal residence for at least two out of the past five years.
Tips for Buying or Selling Oro Valley
Most people, when they want to buy a house, contact a real estate agent or broker. That is why it is true that the best way to sell your Oro Valley is to list your property with a qualified agent. Make sure that the agent you select will list your home in the local MLS and will make sure your property appears on the Internet. Since most buyers start their search online, you want to make sure that your Oro Valley is available to those who search the Internet.
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Oro Valley Arizona AZ Homes and Real Estate For Sale
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