Wednesday, August 21, 2013

W. Valley homebuyers seeing housing prices skyrocket

Tricia Williams is painfully aware of the housing market rebound that began in 2012.

She and her husband began looking for a home along Happy Valley Road near Interstate 17 in early 2012, just before prices began increasing dramatically. Their wish list included 2,500 square feet and four to five bedrooms for less than $200,000 within the Deer Valley Unified School District.

They put in two other offers in the north Phoenix and Peoria area, but were outbid within a week for one and within a day for the other. They didn’t place counteroffers.

“I wasn’t going to get into the bidding game,” Williams said. “It’s not worth it. There’s been no house that I’d want to do that with.”

Instead, they opted for fewer bedrooms and a mortgage payment that was higher than hoped.

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