Valley Housing Market Dismal
November 3rd, 2007November 2nd, 2007 @ 7:43am
by Hanna Scott and Jon Zimney/KTAR
Arizona ranks among the top 10 states in the nation in foreclosures, the number of homes for sale in the Valley is at its highest level in years, and people who absolutely must sell face problems.
“Once we take the listing, we tell them up front that we have to adjust the price every 30s days,” said Avi Asallas of Century 21.”
And he makes no promises. “Before, we could sell a house within 30 to 60 days, but now we cannot put a time frame on it because there are so many properties.”
One of the biggest problems is the competition from new auctions and foreclosures popping up every day, he said.
Meanwhile, a number of Valley residents are going through foreclosure.
“I bought a house for $400,000 in Maricopa, and my house isn’t even worth $280,000,” said one woman.
http://ktar.com/?nid=6&sid=636171
