You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value. Phone / Prefer cell: 520-975-5207
Office: 480-948-5554 or email me walterunger@ccim.net. – What is a CCIM.
In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want me to get you the value of your property.
CLICK HERE TO VIEW ALL MY LISTINGS.
Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net
What will the housing market look like toward the end of 2023? As the housing market continues to evolve, we sought insights from real estate experts, including co-founders, CEOs, and brokers, on what to expect toward the end of 2023. In this article, we share five key perspectives, ranging from buyer opportunities in changing markets to trends across property types, to help buyers and sellers navigate the future landscape.
- Buyer Opportunities in Changing Market
- Key Housing Market Trends and Factors
- Prepare for Competition and Realism
- Local Market Appreciation and Challenges
- Trends Across Property Types
Buyer Opportunities in Changing Market
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Spring would be a great time to think about buying because of the current housing shortage. Multiple offers drove up property prices from 2021 until the early times of the previous year, while financing purchasers lost out to cash purchasers.
Buyers frequently lost many bids during this time, forcing them to make offers much over the asking price to close a purchase. Last year, the market changed, and buyers are currently in control and negotiating price drops.
You are likely to observe the return of a seller’s market as interest rates trend down into the 5% level. You might receive a better offer if you buy now. Homeowners may refinance to a cheaper rate as interest rates decline shortly, which is expected.
Doug Van Soest, Cofounder, Socalhomebuyers
Key Housing Market Trends and Factors
The housing market outlook for the end of 2023 is uncertain, but can be based on current trends:
Market Stability and Growth: Resilience and steady growth. Factors like population growth and housing demand contribute to a favorable environment for investments.
Rental Demand: Strong demand because of lifestyle preferences and flexibility. Attract tenants with well-maintained properties, competitive rates, and exceptional service.
Hotel Management and Tourism: Recovery expected with easing travel restrictions. Property owners in tourist destinations can benefit. Collaboration with experienced hotel management maximizes potential.
Technology and Innovation: Embrace technology for enhanced customer experiences. Online platforms, smart home features, and data analytics attract tech-savvy buyers and tenants.
Expert Guidance and Collaboration: Seek reputable property management companies and real estate agents for insights and help.
Johan Hajji, CEO and Founder, UpperKey
Prepare for Competition and Realism
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For interested buyers, it’s essential to prepare for continued competition in the housing market. The demand for properties in Montreal is expected to remain high, so buyers may face multiple offers and bidding wars.
To navigate this competitive landscape, buyers should be prepared with a solid financial plan, including pre-approval for a mortgage, and be ready to act quickly when a desirable property becomes available.
For sellers, the end of 2023 presents an opportunity to capitalize on the strong market conditions. With high demand and limited supply, sellers are likely to continue benefiting from a seller’s market. However, it’s important for sellers to set realistic expectations and work with a real estate professional to price their property accurately.
Overpricing may deter potential buyers, while underpricing may result in leaving money on the table. Investing in staging and home improvements can help attract buyers and maximize the selling price.
Samantha Odo, Real Estate Sales Representative and Montreal Division Manager, Precondo
Local Market Appreciation and Challenges
Many local markets will continue to see good appreciation in 2023. There are a few markets (most of California, some areas of New York, and portions of Florida) that have already seen some softening in their local markets.
There may be a slight trend lower for interest rates, which will buoy sales prices and likely heat up competition in markets that have already seen good competition and higher prices so far in 2023.
The biggest challenges for real estate, regardless of locality, are going to be for homes in the upper 10-20% of any market. These homes will be hard-pressed to see significant gains versus lower-priced homes.
The biggest challenge in any market will be for starter/more affordable homes. Starter homes are in short supply and thus will see heavy competition in nearly every market.
Michael Hottman, Broker, 804michael
Trends Across Property Types
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The trends I’m noticing are multifamily, apartment complexes, and commercial properties where variable rates that start expiring will have lower valuations/appraisals toward the end of the year.
Some sellers will probably want to sell their properties at a discount, as their ability to refinance their properties is based on the profit the asset generates. With higher interest rates, profits will be lower, leading to lower valuations.
With single-family homes, the market probably won’t change much—we’re in a market with very low inventory and sellers don’t want to sell because they’re locked in 30-year loans with low-interest rates, so there’s little incentive to sell.
However, buyers can get a great deal if sellers are desperate to sell because of higher interest rates. Another trend in the real estate market is the short-term rental market (Airbnb rentals), which is getting more regulated and competitive—so the ROI won’t be as good as it’s been so far.
Ryan Chaw, Founder and Real Estate Investor, Newbie Real Estate Investing
About AZ Big Media https://azbigmedia.com/
FROM ME: FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office / Retail / Industrial / Multi-family / please call me on my cell 520-975-5207 or e-mail me walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net, CCIM, CREXi, Catylist, and various other web sites. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international
DISCOVER WHAT IS HAPPENING IN ARIZONA
History of Arizona from 900 BC – 2017 -Timeline.
What is a CCIM. In Business and in Life you don’t get what you deserve, you get what you Negotiate.
contact me if you want the me to get you the value of your property.
Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net
Click here to find out what is a CCIM:
CLICK HERE TO VIEW ALL MY LISTINGS.
Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?
Walter Unger CCIM
Associate Broker
West USA Commercial Division
14350 N. 87th. Street, Suite 180
Scottsdale AZ, 85260
Phone: 480-948-5554
Cell: 520-975-5207
History of Arizona from 900 BC – 2017 -Timeline.
History of Arizona from 900 BC – 2017 -Timeline.
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
CLICK HERE: Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
Walter Unger CCIM
Associate Broker
West USA Commercial Division
14350 N. 87th. Street, Suite 180
Scottsdale AZ, 85260
Phone: 480-948-5554
Cell: 520-975-5207
FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME
CLICK HERE TO VIEW ALL MY LISTINGS.
Also Call me if you need an estimated value of your Property.
Call me if you want to see a map with what is in the Construction Pipeline for Apartments.
Prefer cell: 520-975-5207, or email me walterunger@ccim.net. CLICK HERE TO VIEW ALL MY LISTINGS.
Check out my professional profile and connect with me on LinkedIn.
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Reasons to Consider me for Commercial Referrals
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The information in this blog-newsletter is for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.