Why in a housing market that has pretty much crash fallen over the last few years would anyone want to invest in luxury real estate? Why would that luxury real estate investment be located in the Phoenix area? And what could you possibly gain from living there or turning it into an investment property? These are all valid questions for the individual considering a luxury home purchase.
If that sounds like you, then you should seriously consider Biltmore Estate Homes. Why Biltmore Estates? Because, quite simply, it is the best thing that you can do for your finances and your peace of mind. How so? Price ReductionsThe most important factor that you should consider when thinking about making a luxury home purchase in the Phoenix area is that the Biltmore area, renowned for its luxurious living, is currently undergoing a series of price reductions. In a place where $1 million and $2 million homes are the norm, recent sales have seen prices fall to a level not seen in years. Some purchases have even been made in the $800,000 range. But should you be worried that the falling prices mean you are buying onto a sinking ship? Market CyclesContrary to popular belief, the struggling housing market, experienced all over the US and not just in Phoenix, runs in cycles. This is not the first time the country has experienced housing woes and it will not be the last. The difference between those who profit and those who fail is that failures panic. Profiteers do not. Buying low and selling high is how all real estate investors make their money and recent trends have indicated that the next few years will see a lot of growth in real estate prices. Buying in now while prices are still low could mean six figure profits in a short amount of time. But how can you be sure that you are getting a good deal? Reputable Real Estate AgentsA good real estate agent will know his sales area as well as he knows his industry. He will be able to help you determine where the best places to buy are, and whether or not there are any short sales or foreclosures available that you can take advantage of. Lenders do not like to have their homes vacated. They cannot make any money under such circumstances, and they are often willing to work with sellers to sell the home at a discounted price. A quality agent will be able to guide you through the Phoenix market, especially as it pertains to Biltmore. When you are ready to make your home purchase, you cannot afford to ignore the price reductions currently in Biltmore. Take advantage and it could be the best investment you ever make.