Missing the Signs: How to know when it’s time to buy

So, is the market coming?

Or going?

I ran the First Responder Run to help the Arizona Autism Support yesterday, planning to run a 5K. Turns out that the 5K and 10K routes shared the same path and I missed the turnaround. Oops! As time progressed, I realized my mistake and decided to flip around, so I wouldn’t hold my family up who was waiting for me at the finish line.

I’ve been training and was really intent on improving my race time, and suddenly my plan was trashed. So I spent some time really enjoying my run and experiencing some of the free-form thinking that comes from being in that space.

Suddenly, I realized that my “mistake” was so similar to some of the real estate feedback that I’m hearing from some buyers who are trying to time the market and buy at the “bottom”. And my question is, have we hit the bottom (in some sense of the word), here in Scottsdale, but maybe missed the signs?

Take a look at this Altos Research chart on for Market Action in Scottsdale. In their proprietary calculation, anything above a 30 signifies a seller’s market. Interesting to see that we in an overall improving market, contrary to what some other areas of Phoenix and the rest of the country may be experiencing.

Changing Scottsdale Market

I have been working with several buyers who’ve decided that now is the time to buy and are closing this week.  One is a first-time buyer, another is purchasing a vacation home, and yet another is relocating to the area for a new job.  Other first-time home buyers and investors are still looking, knowing that now may be an ideal time to negotiate and buy.  As one buyer said last week,  even if the market trends downward for a bit longer, I’m planning on staying here long enough, that it doesn’t really matter to me.

So, the more important question to ask “Is now the right time for you to buy a house, a home, or an investment?”  Opportunities exist in any market, and only you can make the decision that is truly right for you.