April 21, 2020
Changing Markets Breed Opportunity
Although life has seemed chaotic lately, with updates to best practices and work environments changing on a daily basis, there may be a steadier footing on the horizon. The real estate market, most specifically mortgage rates, maybe finding a balance – at least according to some experts.
At Pine Canyon, we know real estate is always a ride. There are times of wild abundance and also windows of a frenzied squeeze. The market ebbs and flows, this we know with our years of experience, as it responds to any number of variables that range from political change to economic distress to – a virus.
Knowing that we keep our eyes on things up here.
While experts agree that cuts to short-term rates don’t directly affect mortgage rates, they also agree that federal bond purchases seem to be effectively steadying rates that had become somewhat of a moving target. Even during uncertain times, though, lies opportunity.
Symmetry Homes, Pine Canyon’s exclusive pre-design builder, just broke ground on a spec home in our Coconino Ridge neighborhood, and construction continues on other properties throughout our community. While there may be less traffic and fewer people gathering to enjoy the beginning of spring – together – there remains a steady hum of progress at Pine Canyon, as we finalize a trio of new contracts and homes take the necessary steps to get closer to completion with each passing day.
Experts and analysts aside, there is no better barometer than progress.
If we’ve learned anything from our forced adjustment to this temporary way of life, at home and apart from each other, it’s that nothing is permanent. Economies will change, markets will rally and sputter, politicians will come and go, viruses will make the rounds and mortgage rates will respond.
Opportunity rests in those small windows between the rise and fall, where pricing for a homesite may hit an investor’s sweet spot or a resale opportunity may become just too good for an owner – or a buyer – to pass up.
If you’d like to learn more about the opportunities available at Pine Canyon, we’d be happy to talk. We appreciate that things can change quickly, which is why we’re available for you just as we’ve always been.
To reach the Pine Canyon Realty Team, call 928-779-5700.