David M. Brown, Special for The Republic | azcentral.com
Guardedly cautious optimism: That’s a consensus forecast for 2015 West Valley real estate. Mostly sunny, with a chance of clouds. Stay tuned.
West Valley resales started briskly in the first quarter of 2014, flattened for the second and third quarters, and are upticking in the last quarter, mostly for the 55-plus communities, said Karen Ochs, an associate broker with Coldwell Banker Residential Brokerage in Sun City.
“Homes are on the market for 90 days or more and prices are flat,” she said.
The Dodd Frank bill has made obtaining financing more difficult than before, requiring, in brief, a homebuyer to have a creditable credit score, dependable proof of income and a solid down payment to purchase a home –– in contrast to the credit free-for-all that sparked the Great Recession half a decade ago, she said, adding that the market is still recovering.