Trusted local news leader for Prescott area communities since 1882
Sun, Dec. 08

The time is now

PRESCOTT ‹ Ruth Rodney isn't waiting for home prices to drop.

Rodney moved here from Scottsdale about nine months ago after selling her home in less than three weeks. Facing the possibility of her daughter coming to live with her, Rodney is now looking for a bigger home ­ and she's confident she'll find what she wants.

"If I want it, I can get it," she said.

A couple of local mortgage professionals said the local housing market is ripe for homebuyers.

Theresa Baca, branch manager of Mountain Mortgage in Prescott Valley, said now is as good a time as any to purchase a home.

Baca said 30-year fixed mortgages for less than 6 percent are available for homebuyers.

"With interest rates down at that level, you can qualify for more home and still keep your payment

reasonable," she said.

Jerry Sell, owner of Jerry Sell Mort-

gage Services in Prescott, said the housing market experienced a roughly 10 percent correction since the highs it reached a little more

than a year ago.

"There's no question about that, it's turned into a buyers market,"

he said.

Sell said the community's appeal, low interest rates and a good buyers market are likely to spur home sales this year.

"I do expect to see somewhat of a mini-boom this spring or summer," he said.

He said sellers who are willing

to alter their asking price have the best chance of ridding themselves

of their homes.

"If you're going to sell your home, you've got to be a little bit more flexible right at the moment," he said.

According to Multiple Listing

Service figures from the Prescott Association of Realtors, homes in Prescott, Prescott Valley and Chino Valley are averaging more than 100 days on the market from January through Feb. 12.

Homes in Prescott are averaging 130 days and homes in Chino Valley/ Paulden are averaging just three

days less.

And homes in Prescott Valley are averaging 109 days on the market.

Realtor Dave Hamill, manager of Exit Realty Far West branch in the Prescott Gateway Mall, said some folks have a misconception that the housing market isn't good.

"If you're need is current then you should be looking," he said.

Hamill said the frenzied 2005 housing market was an anomaly and the market has settled into a more normal pattern.

"It's a decent time to buy," Ha-

mill said.

Contact the reporter at jsoifer@prescottaz.com

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