By Becca Linnig
Real estate is an essential business.
In the midst of this seemingly never-ending pandemic there is one industry that is alive and well and that is real estate.
At the beginning of this national crisis the Arizona Real Estate Association was in contact with Governor Ducey’s office making sure he knew how crucial real estate is to the economy.
Deeming real estate essential and ultimately passing the ability to use mobile notary as an option to sign closing documentation has allowed citizens the ability to achieve the American Dream of owning a home.
Historically low interest rates are allowing people the ability to afford a higher purchase price for the same monthly payment. Based on Scottsdale’s medium income, with the same qualifying factors it could result in almost $40,000 more purchasing power than with pre-pandemic interest rates.
This toppled with a housing shortage we have been experiencing for several years has created purchasing mayhem.
If you have ever considered selling your house now is the time. Over the last two weeks I have submitted a half dozen offers for the same client only to be told we are one of 21 offers and the “winning” buyer pays more than the asking price, waives inspection, appraisal and gives up earnest money immediately.
Currently when homes hit the market they will allow a one-hour open house for any potential buyer to get in and decide if it is worth giving up basic buyer rights to “win” the home.
New Zealand and Australia’s housing markets are so robust they have 30-minute open houses and I thought that was crazy but that is similar to what is happening here now.
Real estate is an important economic driver and I am proud to say I am endorsed by the Scottsdale Area Association of REALTOR’s.
Realtors are strong advocates in fighting for private property rights and values.
As a City Council member, I will always make decisions that increase the values of our homes and improve the quality-of-life for Scottsdale residents.
We do not sell houses we create jobs and build communities.
Editor’s Note: Becca Linnig is a candidate for Scottsdale City Council in the upcoming Aug. 4 primary election.