How the Presidential Election affects home prices in Scottsdale

Jeff’s crystal ball is back! It was blue and now it’s red? Maybe because the election is near. There you go. Let me look into my crystal ball. This year we will elect, drum roll please….Romney.  What if Romney gets elected what’s gonna happen? Well, I mean based on the performance of Mr. Romney last night, it looks like we are going to pull this race about even, right?  It was looking like Obama was going to be quite heavily effective, but I think that people will have more money if Romney is elected or they’re gonna buy more houses in Scottsdale!! I mean come on, right? Isn’t that true? Right?  So, we are gonna pay less taxes, we’re gonna have less taxes on dividends, more jobs. Yeah, I mean we still have 10,000 people still retiring every day and their 401K’s are gonna be doing better because they are gonna be buying and selling more stocks. Cause they’re not gonna care, cause they’re not gonna have taxes therefore property values will go up.

Alright, alright, drum roll please again. Let’s take down the crystal’s picture ball and…. What if the other candidate, Obama, gets elected what’s gonna happen? Obama! So, the reality is that we already know what’s gonna happen if Obama gets elected. I mean his principals already have been laid out; he wants low interest rates because you know what he realized that he cannot generate jobs. So, if he needs jobs he has to pump up the housing market and keep the rates low, keep the rates low. Right, that’s the key here?  So, actually what has happened to prices in Scottsdale while rates have been low over the past two years? I think that they’ve gone up about 20%, 20% not bad, not too bad, not bad for government work!  Oh gosh that was bad, okay, okay, so fair enough.

So tell us about…let’s talk about the market and where it’s at today, since no matter who wins it’s gonna go up. Where are we at today, where’s our point? Well, let’s talk about September. September we were still in the top five home sales in September of 2012 over the last ten years. I mean home sales came in at 6,435 for the month, now last year we were a little bit closer to 7,800 homes. There are several factors, reasoning’s that lead us why this number is low, one:  there was only 19 business days in September and it does matter how many days you can sell, secondly: inventory still stuck at around 15,863. Which a normal market will have generally 25,000 homes on the market, so we are still light of inventory about 10,000 homes, absolutely. We still have strong demand. I believe that media experts that are looking for the doom and gloomers out there are gonna read this number as being a negative number. But the thing is, actually we sold two houses, the Sibbach Team, before they made it to the market. You can only do that when demand is high, right?

So how do you find these homes that are not on the market yet? You work with the Sibbach Team because we’re gonna give you the inside scoop, we’re gonna give you that first opportunity to find the house that might be the perfect house for you before the vultures get it. And on top of that, if it does make it to market and we don’t know it we’re gonna get out there and preview that house and we’re gonna see it before it’s out on the market.

So, I like it, no matter who wins the election prices are gonna go up, absolutely. And no matter if you’re looking for the home on or off the market you work with the Sibbach Team. It’s that simple folks. Good to see ya. That’s our report for September, thank you. See you next time. That’s good. I liked it.

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