Do you know the Phoenix housing market will be one of the hottest real estate markets in the United States during 2021?
Buyers’ demands are in full swing and don’t seem to die down any time soon, although mortgage rates are increasing rapidly. The median sale price has reached the benchmark of $35,000(a massive increase of 18.6% from February last year). Also, new listings are increasing ever since January 2021(up almost 26% MTM).
Now that the total supply of properties isn’t enough to meet the real estate market’s demands in Phoenix, it’s an excellent time to plan to sell your property.
Seller's market, Phoenix AZ
The number of buyers exceeds sellers in the Phoenix real estate market, leading to bidding wars and outrageous offers on the listings.
First-time homebuyers and sellers commit mistakes like making wrong moves, paying too much or missing out on the best offers waiting for the market to flatten out a bit. As a new entrant in the real estate realm, you have to weigh the positives and negatives of this process.
I, Angelo Sbrocca, Phoenix AZ realtor, am your ally in the sellers market in Phoenix, AZ.
My friendly advice for home buyers
Knowing that home buyers are ready to take up property in Phoenix’s real estate seller’s market, I suggest waiting for the right home deal to come across. It is better to wait than to repent your home buying decision on an impulse.
Any random agent trying to take advantage of this seller’s market suggests buyers quickly finalize their purchase to secure the contract. Some agents are going to the extent of offering no inspection, waive appraisal, pay ridiculous levels for appraised value, and more.
Be cautious and don’t fall prey to these offerings/suggestions.
Wisdom should prevail
Since homebuying is a necessary process that has consequences on your entire lifetime, wisdom needs to be at the forefront of decision-making.
A single wrong decision of buying a property with latent defects can call upon your budget and mental well-being. There are worse things than not purchasing a home or buying it costly for no reason.
However, a home seller can reap the benefits of this seller’s market. They can earn higher value for the property if their realtor acts in their favor and closes with the buyer who is willing to pay the best amount against the property.
Your realtor/agent's obligation
As your realtor/real estate agent in Phoenix’s real estate seller’s market, I take upon the obligation to protect both the buyers/sellers or both clients’ interests.
I know estate clients look to their realtor/advisor for guidance. Therefore, I value their perception of good faith from their advisor. I have taken an oath to walk on a slippery slope for both the party, keeping their interest on a high priority.
An appeal to fellow agents and fiduciaries
I welcome all my fellow agents and realtors to be careful and be a part of the movement to elevate our real estate industry. Together, let us bring credibility to our work field, working diligently, leaving our emotions out of estate transactions.
I am passionately dedicated to serving my clients, honoring their decisions and requirements.
Call to action
Let all realtors and agents join hands in the movement to be wise and honourable uplifting our real estate industry. And, let our community of realtors’ vow to keep aside our private profit motive and desperation.