by Pat Lairson, Realtor, Maricopa Real Estate Company
There is no doubt Pinal County is on the move. If you drive through Maricopa, Casa Grande, Florence and almost any other city, you will see new construction.
The growth is not just in residential building but also commercial. The City of Maricopa will be sporting a new Sprouts store in 2021, and, of course, the opening of Lucid motors in Casa Grande in 2021 put Casa Grande on the map for many new residents, too.
Growth is great, but along with it we are in one of our most severe housing shortages to date.
We have less than a 30-day supply of single family homes excluding new-build homes, with Maricopa having just 41 homes available for sale, Casa Grande about 30 active listings and the City of Florence with 13 active listings, for example.
It is clearly a sellers’ market. New builders rarely have spec homes available — a home already built and ready for move in — and the average build time has increased to between six and eight months.
This does not mean buyers lose.
With interest rates still at a record low, and even lower than the previous year, buyers have more buying power. The key is to position yourself as a buyer in the best possible way. How do you do this?
First you need to get prequalified with a great lender. You have to know how much money you will need, not just for closing costs but also for your down payment and prepaids such as your inspection and appraisal. Be prepared even to pay over list price and pay the difference out of pocket.
You need to use a local Realtor who knows the market you want to buy in. Pinal County is different from Maricopa County in real estate, and we may have different lending programs that could be to your advantage.
Getting educated on the market is vital to ensure you have the best experience whether buying or selling. It is a good time to live in Pinal County!
For more information, call 520-280-5862 or email PatLairsonRealtor@gmail.com.
