Homes in Arizona Estimated to Take 4 Times Longer to Sell in Times of the Pandemic According to AZ Home Offer
Industry: Real Estate
Israel Ramirez of AZ Home Offer amongst other experts claims that its taking sellers 4 times longer to sell homes in Arizona even despite lockdowns easing across the state.
Phoenix, AZ (PRUnderground) June 25th, 2020
The pandemic has led to economic uncertainty, which has meant that many prospective buyers are holding out. Leading industry experts like Israel Ramirez of AZ Home Offer have stated that figures currently show it is taking sellers, on average, four times longer to sell their homes than the same time last year. Furthermore, if things don’t improve within the next six months, desperate sellers may be forced to settle for a lower price.
A lot of market research shows that most homes will stay on the market for anywhere from 2 months for up to 3 months or 93 days. However, this is the average time it takes to sell a home in Phoenix under normal circumstances. That said, the real period within which it sells still varies depending on the style of home, its location, and what the seller is demanding. For instance, homes in affluent neighborhoods don’t have much demand, so they are harder to sell, and take longer to sell at their fair value. But cheaper homes or older ones in the city often sell sooner, and in some places, it would be sold within days. Unfortunately, that’s no longer the case.
Homeowners in Arizona have two choices at this point; they can either hold on to their properties until the situation, and consequently, the market changes, which could take a few months or even up to a year. The other option is to consider selling the property as-is for cash. There are many businesses that, despite the pandemic, are offering cash for homes almost instantly.
While prices may not be as high as some sellers may demand, but then again, it is important to factor in the fact that there is market uncertainty, and the company buying the home is taking a huge risk. Since it could take up to a year to sell most homes now with the looming pandemic, it would be wise for those looking for an instant injection of funds to sell the home for cash.
“We buy homes for cash. In the past, we’ve purchased homes from sellers who would bargain with us. Many people came to us because they want to sell fast for whatever reason. However, now we’ve seen an increasing number of homeowners coming to us because of their inability to sell. Some of them have had their homes on the market for six months, if not more. Others have had buyers back out of the deal.” Said Israel Ramirez of AZ Home Offer.
AZ Home Offer buys homes for cash. The company buys all types and sizes of homes and is continuing to purchase homes despite widespread lockdowns. AZ Home Offer is one of the few companies that are still operating and making generous offers to homeowners.
Name: Israel Ramirez
Company: AZ Home Offer
Address: 20050 N Cave Creek Rd #117, Phoenix, AZ 85027
Phone: (602) 900-9327