When looking to purchase a new house or to sell an existing one, there is oftentimes a lot at stake. Understandably, many homebuyers and sellers have interests that they wish to protect. In both sides of real estate transactions, it is often prudent to make informed decisions. While choosing to buy or sell a house can be exciting, it is important not to make any hasty decisions that could lead to potential trouble. Careful decisions guided by expertise can allow real estate transactions to proceed smoothly.
According to reports, a lot of what are known as garbage properties are off the market in Arizona. Garbage properties are those that sell for less than the market value. One expert claims that this is the result of the market starting to have a comeback.
Recent reports also show the sales of Arizona homes remaining level from February to March. When comparing data to that of the same time last year, they have also dropped seven percent, according to a real estate data company. What’s more, one Arizona city is showing higher prices and lower sales numbers. Compared to March of 2013, a report shows that home sales were 15 percent lower.
Keeping up on real estate trends can be immensely helpful when deciding to get involved in Arizona real estate. However, there is much more to successfully navigating real estate transactions than simply being away of certain trends and market climates. Real estate transactions can involve many complexities that can be legally murky. Sometimes, there are red flags that may not be obvious to anyone without expertise and experience in such matters. However, backed by a solid legal foundation, many such potential issues can be avoided.
Source: Arizona Public Media, “State, Local Real Estate Markets Show Improvement,” Zachary Ziegler, April 24, 2014