3 Bedroom Homes Near ASU West for sale
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ARMLS Listing Data last updated 2/25/2020 6:37 PM MST.
3 Bedroom Homes Near ASU West for sale
No HOA in some areas
Close to schools, shopping, parks and ASU West
Close to Doctors and Thunderbird Hospital
Many Block homes
You might ask yourself – when is it appropriate to try and “time the market?” The short answer is never. One problem with attempting to time your purchase just right in tandem with economic patterns is that no one can really predict with any degree of accuracy – the future.
Many reports get published, predictions are made and some of them can be very close to spot on but the reality is that no one can tell for certain what will happen or when. Another challenge is that interest rates are most often higher during a recession (or depressed) market and household incomes might not be keeping up with the market. For that reason, fewer people can qualify for a home purchase during down times, than in prosperous times.
When it comes to timing the market, another big factor is affordability. That does seem to overstate the obvious but companies are typically not awarding employees with significant raises and cutting more than they are hiring. There are also heated battles being fought over minimum wage requirements all across the nation.
Did you realize that it’s been 5 years since the last time the federal minimum wage was raised? On October 10, 2015 the Labor Department is participating in a National Day of Action joining workers, government officials and business owners to show their support for increasing the minimum wage. They will be using the hashtag #RaiseTheWage to highlight why it’s time to increase the minimum wage in this country from $7.25 to $10.10 an hour for all hardworking Americans.
Since 2014, 13 states — including California, Connecticut, Delaware, Hawaii, Massachusetts, Maryland, Michigan, Minnesota, New Jersey, New York, Rhode Island, Vermont, West Virginia — as well as Washington, D.C., have already taken action to raise their minimum wage.
As of Jan. 1, 2015, those states plus Alaska, Arizona, Colorado, Florida, Illinois, Maine, Missouri, Montana, New Mexico, Nevada, Ohio, Oregon and Washington will have a minimum wage above $7.25. There are of course, 2 sides to the argument stemming from business owners claiming if the wage is lifted to $10.10 per hour they will have to cut staff because it will be more difficult to make payroll each week. On the other side, stands the employee and states that with all of the costs of living continuing to rise, how are they expected to raise their families with a paycheck that never comes close to matching the rate of inflation? It’s a good debate and it will be very interesting to see how things play out in October. What side will you be on?
Whatever change does take place, we can bet it’s going to impact consumer spending for certain across the board.
There are times when the economy is booming and everyone feels confident about their prospects for the future. As a result, people often times spend more money. People tend to go out to dinner more often, tip heavier, invest in wardrobe updates, maybe buy a new car and… more often than not, buy a new home. If the interest rates are friendly, this is especially true.
Then, for many reasons, there are periods of time when companies lay off employees and consumers become much more frugal about when and when they spend their money. They begin saving more money than spending it. When this happens, the economy further deflates. If it slows down enough, we’ll have a bona fide recession on our hands. During times of these depressed markets, many families shy away from more expensive items including buying new homes.
Still, some home owners find themselves in a situation where they must sell despite the current economic times.
Families continue to grow beyond the capacity of their homes, employees get relocated, and some may even find themselves unavailable to make their mortgage payment – perhaps because of a lay-off in the family or, they may be experiencing negative equity. In other words, they owe more than their home is worth and selling becomes very difficult without coming to the closing table with enough cash to satisfy the loan. Consult with your lender and a professional Realtor to talk about options and discover what the financial situation really is that’s actually in front of you. This is paramount.
(Even as the market continues to rebound in 2015, saving your home or finding a way to sell it without suffering can often be worked out.)