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Faith, Ledyard & Faith, PLC dba Faith Law
Faith, Ledyard & Faith, PLC dba Faith Law

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  4.  » Phoenix housing market improves during holidays

Phoenix housing market improves during holidays

Many homeowners looking to sell end up taking their houses off the market during holiday time. Phoenix sellers, however, seem to be doing the opposite.

While the Midwest and East Coast struggle with snow removal and icy roads that inhibit potential buyers from viewing available homes, Arizona sellers see holiday time as a prime selling opportunity. Instead of taking homes off the market, sellers in the Phoenix area have increased the number of homes listed. Nearly 10,000 houses were added to the market in October, totaling a 13 percent increase from September. Generally, the first three months of the year offer some of the most home sales for the Valley. For those sellers looking to take advantage of the holiday season to seal a deal on their home, real estate agents suggest leaving up seasonal decorations for home viewings. The prettier aesthetics and homey feelings can help buyers see themselves in the home.

The increase in home listings indicates there may be more homeowners looking to complete for sale by owner transactions. For a property owner looking to sell on his or her own, a few considerations should be taken into account. Selling a home by one’s self can result in greater profits by avoiding paying commissions, but it also entails taking responsibility for knowing all applicable steps and laws involved in selling a property.

There is no law that real estate agents are required for home selling, but homeowners going about the process alone should be aware of the time and effort involved in home sales. The first step in selling a home involves becoming familiar with the laws governing what type of paperwork is necessary as well as determining any encumbrances or mandatory disclosures you must make. Even individuals looking to sell on their own can enlist outside assistance to assess the market, decide upon an asking price, or help with complex paperwork questions.

Listing one’s home personally can be a complicated process but may result in financial gains that are greatly needed around the holiday season. Real estate attorneys may be able to help clarify the statutory requirements to make a for sale by owner transaction process as successful and smooth as possible.

Source: AZ Central, “Housing deals can be made over the holidays,” Catherine Reagor, November 28, 2014


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