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Real estate market doing well despite the pandemic

By
Published  June 7, 2020 8:55am MST
Real Estate
FOX 10 Phoenix

PHOENIX - The real estate market can seem daunting to navigate - even when we're not in the middle of a pandemic.

Is this the right time to sell or buy? 

"You wouldn't think there was anything going on in the world right now in Phoenix, Arizona," said Bobby Lieb with HomeSmart.

Lieb has been a real estate agent in Phoenix for nearly three decades, and he's been busy despite the coronavirus pandemic.

"I'm seeing every part of town - especially the different price ranges if you're under $300,000 - there's multiple offers," said Lieb. "The only market that's getting hit pretty hard right now is the really high, high end just because banks aren't lending."

Lieb says the market is more of a seller's market.

"Because our inventory is as low as I've seen it in the last 10 to 15 years, it still favors the seller a little bit," said Lieb.

The real estate agent also had some advice for people looking for a home but are scared to take those first steps.

"Don't rely ... on internet pricing, and in our industry, like any industry, they have discounted realtors," said Lieb. "I say hire someone who is good in that particular area. So I sell in north Phoenix, Paradise Valley, Biltmore -- I wouldn't hire me in the East Valley."

Lieb says if you've been thinking about buying, now is the time.

"If you wait and say, 'I'm going to wait a few more months for the market to slow down,' it's not," said Lieb. "In the end of the day, two months from now, you're probably going to see the prices going up and you're going to wish you did pull the trigger."

Lieb also advises folks not to rely on internet pricing, but instead invest in a realtor to help you find the right home.