They say the best time to buy a new car is in the Fall, and you can’t beat the prices in the month of August if you are in the market for a new computer. So when is the best time to buy if you’re shopping for a new home? Valley real estate agents and homebuilders say for the Arizona home market, Summer is the best time to buy if you’re looking for big savings.
“Savvy homebuyers know they can often negotiate the best deals and additional savings in the summer time because like much of the Arizona economy, the housing market slows down,” said Keith Mishkin, Designated Broker for Cambridge Properties. “Because so many people head out of town to cooler climates, serious buyers have an edge, not only on savings but on other upgrades or amenities that sellers might not usually be willing to add on,” he said.
Cachet Homes is one such builder offering significant summer saving on new homes at their Monterey Ridge community. “We are offering up to $10,000 in savings or upgrades for summer buyers,” he said. “In addition to the savings, we are offering perks that include the option of having us pay off the remainder of your lease if you’re renting, and there are some excellent 1% down financing opportunities that are making it easy and affordable to get into your dream home this summer,” he said.
At Monterey Ridge, Cachet Home’s latest luxury development in the North Scottsdale area, buyers are saving big on move-in ready homes – most of which are ready to move into within 30 days. The 144 residence community offers spacious single-level condominiums ranging from 1,091 to 1,870 square feet. “We are seeing both local residents and out-of-state buyers taking advantage of the savings, both for primary residences and vacation homes,” Cody said.
The property was designed with an award-winning architect and interior designer and offers unique design touches typically seen in a luxury single family home including separate wings for entertaining and sleeping, subtle mood lighting, slab granite counters, maple cabinets, upgraded flooring, 9.5-foot ceilings, gas ranges, and private terraces and a two-car garage that is connected to the building and accessed via elevator.
Because of our unique climate and transient nature of our seasonal visitors, Arizona is unique in the typical housing sales cycle in the US. In most places, the Spring is the best time to both buy and sell a house because of pleasant weather, green grass and major yearly expenses out of the way like taxes and holiday shopping. In Arizona, the height of the housing market is frenetic, with strong demand in December, January and February because of freezing conditions in cold-weather cities and lots of activities and events that attract out-of-state homebuyers. However, for local residents, sales trends follow milestones on the calendar like school starting or Christmas.
“It is a myth that sellers generally pull their homes off the market when Summer begins,” Mishkin said. “The Summer real estate market is the perfect confluence of serious sellers and serious buyers, and because not-so-serious sellers pull their homes from the market, it really cuts through the clutter, making home shopping much faster and easier for the buyer,” he said. "Because of the expansive ability to shop for homes on the Internet and the ability to view exceptionally detailed photos, satellite imagery and even view live and digital home tours, homebuyers can take advantage of the often over-looked savings on homes in the Valley,” he said.