Andre and Petrusia Bilyk are what's known in the housing market as motivated sellers.

They put up their northeast Valley house for sale in November, hoping it would move quickly. But the couple got caught in the abrupt market swing that has drastically increased the number of houses for sale in metropolitan Phoenix. They've reduced the price twice - it now stands at $449,000 - yet there were no takers. So they resorted to an old home-selling trick that's supposed to bring luck: burying a statue of St. Joseph upside down by the For Sale sign in their yard.

Listings are up and houses are taking more time to sell. Six months ago, the Bilyks would have sold their house in a couple of days, if not a few hours. The number of houses for sale in metro Phoenix has nearly tripled in the past year.

"People reach a point where they say, 'I can't afford this,' " said Jay Butler, head of the Arizona Real Estate Center at Arizona State University Polytechnic. "If prices and rates move up, we're in deep trouble."

"I'm sitting on a lot of equity in this house," Andre Bilyk said. "The house is gonna sell. It's just going to take us a little longer. We're prepared to hold out."

Petrusia Bilyk said, "It's just timing. Life is timing."

Arizione Republic, February 8, 2006