State of the Arizona Resale Homes market:
The Valley's resale-home market has come a long way from a year ago, when houses could sell in hours and buyers were outbidding one another. Today:
• There are about 40,000 houses for sale. A more typical number would be in the mid-20,000s.
• Sellers still don't know they can no longer name their price.
• Sellers are cutting prices or ditching agents when their houses don't sell.
• Buyers are worried they will overpay.
• Homeowners are worried they bought at the peak.
• Agents are working harder to "stage" houses and resorting to alternatives like auctions when offers don't come.
Buyer’s Resources:
- Overview of the Buying & Selling Process Benefits of Home Ownership
- Finding the Right Home 
Home Shopping Tips
Home Shopping Tips- Home Inspections Evaluating Property
Evaluating Property- Answers to Frequently Asked Questions
First time homebuyers might feel better to know that they're not the only ones who feel confused about the home buying process. Nearly all homebuyers feel the same way, even if they've bought a house in the past, because it's easy to forget the steps you took to get into a home once the event is behind you. Get Prepped in Home Buying Basics.
Before you begin, get educated about the home buying customs where you live. Relatives or friends who live in another state might have some good general advice for you, but chances are the process is very different in their area, so avoid the mistake of relying solely on their advice to make important decisions. So How Do You Learn the Basics? Talk to a real estate agent about the typical home buying scenario. This is not a meeting that should lead to an agreement for the agent to represent you. It's simply a general discussion about the real estate customs in your area.
Home Buying Questions to Ask
1.What types of disclosures are sellers in your area required to give to buyers? Ask the agent give you a sample copy of typical disclosures.
What types of disclosures are sellers in your area required to give to buyers? Ask the agent give you a sample copy of typical disclosures. 2.What types of home inspections are standard in your area? Are there other inspections that the agent recommends? How much do the inspections usually cost? Are they regarded as a buyer expense? When are inspections done?
What types of home inspections are standard in your area? Are there other inspections that the agent recommends? How much do the inspections usually cost? Are they regarded as a buyer expense? When are inspections done?3.Is a survey required for most transactions? If so, who typically pays for it, the buyer or the seller?
Is a survey required for most transactions? If so, who typically pays for it, the buyer or the seller? 4.What's the average cost for Title Insurance and how do you select a title company?
What's the average cost for Title Insurance and how do you select a title company? 6.Other than loan costs, what's the average total cost for other closing fees? Taxes, settlement agent fees
Other than loan costs, what's the average total cost for other closing fees? Taxes, settlement agent feesB U Y E R ' S
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