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Excess of available homes may feed real estate transactions

The turnaround of the national housing market has been a long time coming and some people in Maricopa have been struggling to find the right time to buy new homes. Trends over the last few years indicate that now may be the right time for Phoenix-area residents to consider getting into the housing market.

Home prices in some Phoenix neighborhoods have increased by more than 70% in the last two years which in turn has stimulated some hesitant homeowners to put their properties up for sale. With the hope of gaining higher sales prices, sellers have caused a flood of homes to appear on the residential real estate market and have ultimately created a positive environment for people looking to purchase their own properties.

As more people begin to consider engaging in residential real estate transactions they may find that they have many questions and no reliable sources for answers. Their questions could range from what differences exist between buying an existing home and a new construction home, to how to find a reputable lender for a new mortgage, to what inspections are necessary to include in a real estate purchase contract.

An good way to have one’s residential real estate transaction handled in an effective and responsible manner is to work with a real estate attorney. Lawyers who specialize in real estate law can help prospective buyers answer all of their questions before they are required to sign purchase documents or become borrowers on large home loans.

Buying a home can be an exciting and terrifying process. Though problems can always arise when buyers and sellers fail to agree, real estate attorneys can help smooth over conflicts to bring about agreeable resolutions for both parties. Their support can help eager home buyers get into the homes of their dreams on terms they are comfortable to accept.

Source: azcentral.com, “Phoenix-area housing marking tilts in favor of buyers,” Catherine Reagor, Jan. 25, 2014

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