Arizona is known for having over 300 days of sunshine a year and great weather pretty much all year except for these summer months. We have other advantages too, like a friendly and diverse population, great sports and entertainment, as well as beautiful scenic destinations.
We also have something key to our overall prosperity and quality of life. According to the Commerce Authority, there are quite a few industries looking to headquarter their business in Arizona.
Arizona is fast becoming a hub for companies in innovation and technology, aerospace and defense, bioscience and digital media, as well as manufacturing facilities. They are all looking at Arizona as a favorable place to locate their business.
One of the Most Business-Friendly States in the US
Why, you ask? Well, Arizona is one of the most business-friendly states in the United States. We have one of the lowest corporate income tax rates in the country at 4.9%. Furthermore, we have just become the number one state in the nation for entrepreneurial activity with more startups in Phoenix than anywhere else. Lastly, we are number two in the nation for unemployment insurance tax. All of these business-friendly components to our economy are fueling growth for our state.
What does this have to do with real estate in Arizona?
With even more people moving to Arizona than ever before, we are seeing historically low inventory. Reporting for the end of July 2020 our Arizona Regional Multiple Listing Service showed ONLY 4,500 active single-family homes on the market. With supply this low we are facing new challenges as a brokerage. So, how do we protect our sellers? Where do they go and will their contingency offer get accepted?
Strong seller contingency plan
Historically low supply markets like San Francisco, Seattle and New York have utilized seller contingency for years. With Arizona’s inventory remaining low for the foreseeable future, Tru Realty is looking to develop a strong seller contingency for our agents and sellers. As we serve our clients moving here, they will expect the same protections as the markets they came from.
The great news is that Arizona is becoming the new hotspot to work and live, and Tru Realty is in a great position to support it!
Buy and Sell with Tru Realty
If you’re interested in learning more about Tru Realty or working with one of our fabulous real estate agents on the sale of your Arizona next home, reach out to me at email@example.com.
About the Author
Sarah C. Richardson is one of the preeminent leaders of residential real estate in Arizona. As the CEO and founder of Tru Realty, she is responsible for both the daily operations and oversight of the multiple growth strategies that the brokerage carries out. Sarah launched Tru Realty in 2010 as a way to serve a marketplace that was seeing a shift from auction centric fix/flips to an MLS flow. She is now rethinking the way her brokerage uses technology to better serve clients and agents alike.