The number of Active Homes on the market in Phoenix and Maricopa county keeps declining. A year ago in April 2011, we had about 40,000 homes in MLS listed for sale, same time this year, we have about 20,000.
This is causing first time home buyers who are purchasing homes listed below $250,00 to be entering into multiple bids situation, where they are either being overbid or the homes are having multiple offers on them before they get a chance to see the home.
For first time home buyers, a strategy that may work is to make sure you are pre qualifed before looking at home and be ready to write an offer when you see a home you really like.
Most first time home buyers are also been out bid by cash buyers (probably investors), so both you and realtor may have to come up with some creative ideas to appeal to the seller to take your offer instead.