As we have all heard, seen or experienced for ourselves, the real estate market slowed down considerably last year, and is doing about the same this year. For those of you who are able to put a "For Sale" sign out in your front yard, you have all the advantages -- "For Sale" sign, a listing on the Multiple Listing Service and drive-by traffic looking for the right home in your neighborhood. But for those of us who live in a condominium complex or a planned community, displayed "For Sale" signs might be against the CCRs. That puts us at a distinct disadvantage. We are at the mercy of the real estate agent and his or her list of homes they choose to show a prospective buyer. This list, although not limited to, usually contains their own listings or those of their real estate office, effectively eliminating the showing of many beautiful homes listed by other agents and real estate companies. But if there is no "For Sale" sign displayed on the property, how is a prospective buyer to know it is available and ask to see it?
There is hope. The Arizona State Legislature, Chapter 228, Senate Bill 1062, approved by Governor Napolitano on May 24, 2007 and filed in the Office of the Secretary of State on May 24, 2007 allows "For Sale" signs in condominiums and planned communities, notwithstanding any provision in the community documents. Apparently, this also pertains to "for sale by owner." This was on the news a couple of weeks ago, but if you blinked, you missed it. For all particulars, take a look at the document on the Arizona State Legislature Web site and maybe it might help you to get your home sold.
Lastly, I would like to thank a very good friend of ours for researching this recently approved Senate Bill 1062. Without her input, we would still be uninformed and in the dark.
Madeleine Parrott, Payson