Phoenix Metro Real Estate and Community News

Many of my clients consider remodeling a home prior to selling the home with the hope of getting a higher price. Picking out new flooring, paint, fancy new counters for the kitchen and other upgrades for your home is a lot of fun.  Upgrades in your home will also allow your home to sell quicker. Before you begin, you may want to consider what your home may sell for and what the appropriate budget for your project will be.

When I look to purchase and remodel homes, I look for properties that one might consider a “diamond in the rough.”  Generally, a home that is 20-30 years old needs a facelift to look trendier and more modern. Buyers generally like these older homes, if the interior is updated to reflect the current housing trends. As I put together a budget to renovate the home, I consider:     

• Appraisal - What is the highest potential appraisal value of my home? Even when a seller sells a home above the market value, if the lender’s appraiser will not support the sales price value, the home will only close at a price the appraiser will support.
• Comparative Market Analysis - Most real estate agents are able to perform a comparative market analysis (CMA) when a current appraisal is not available. A comparative market analysis should give an accurate idea of how a home stacks up against comparable sales within a mile radius of your home. All comparable sales used should be no older than 6 months to give a correct approximation of the current market.
• Pending Home Sales Pending Listings - Homes that are currently under contract waiting to close escrow may indicate where the market is headed. If pending properties are selling for less than previous closings, then the market is declining.  If pending properties are higher than previous sales, then the market is appreciating.
• Neighborhood Competition - What do the recent sales in the neighborhood reflect? How many homes are currently active in the area? If other sellers are renovating homes prior to selling, then top market price is probably in place. If the owners are not renovating before selling, then the top market price for a renovated home is likely higher than recent sales.  
• Remodel Costs - When you feel comfortable with what the top market price is in your area, consider establishing a budget for your project. Picking out all the upgrades is fun, and you could easily overspend on the project. Keeping your remodel costs close to your designated budget will allow you to recoup your costs when you sell. 

Do you want to learn more about renovating your home before your sell? Contact us at (602) 753-0177 or www.MyAZHouse.com

In today's competitive market, the average home for sale receives multiple offers. Let's connect to make sure you're fully prepared as a homebuyer for a potential bidding war. #biddingwars #buyingahome #realestatetips

February 2021 brought 6.22 million in sales, a median sales price of $313,000, and 2.0 months of inventory. The median sales price is up 15.8% year over year, and inventory is down 1.1 months from February 2020.

We are proud to announce that we are the official Realtor for the new Cloud City installation that will be built above the Phoenix skyline. We are currently taking pre-applications and spots are filling fast!

Along with being an Associate Broker & Realtor®, I am a specialized SRES Certified Realtor, let me help you with your next Senior home sale or purchase. Give me a call at 602-753-0177

Contact us at 602-753-0177 

Over the past year, homeowners have gained an unprecedented opportunity to win big by selling in today's housing market.

Call us today at 602-753-0177 to discuss your options!

In the last few years, more clients are coming to us to discuss real estate needs for their aging parents. Nicknamed the “Sandwich Generation,” they are usually in their 40s or 50s and care for their aging parents while supporting their own family. They are literally sandwiched between the needs of their growing kids/family and the needs of their aging parents.

Aging parents may be affected by number of new health issues and memory issues such as Alzheimer’s. With these issues sneaking up on Mom and Dad, our parents become less able to manage their day-to-day activities that were routine just a few years ago. As most young families are focused on raising their family, the sudden needs of their parents are quite surprising and can be a huge burden to manage in addition to the growing family.

A few years ago, my team received an introduction to working with a senior client moving from a single-family home to an assisted living community. Unfortunately, our senior client had significant health issues and the home needed extensive work. The roof, flooring, paint, and landscaping all needed to be addressed prior to selling the home. While addressing these issues took longer than normal to correct, the family sold the home for about 10% higher sales price than if they had ignored the issues. If they had sold directly to an investor, they would have netted far less from the sale of the home.

Jamie Thompson is designated as a Senior Real Estate Specialist (SRES). The SRES is rigorous education focused on developing and understanding of needs of the 50 plus demographic. The SRES Council is known to have knowledgeable, passionate members that serve consumers in the 50 and older market. Our selling process helps seniors downsize, clear the home, address the condition of the home, and prepare the home for sale. We take pride in protecting our seniors and working for the best outcome, no matter the situation. Our goal is to enable our senior clients to sell their homes for the best possible price.

Do you want to learn more? Contact us at (602) 753-0177 

It's a great time to sell your house. Let's connect to make sure it's ready for success on the spring market. 602-753-0177

#timetosell​ #springcleaning​ #housingmarket

Thinking of selling your home? Don’t wait! The market is perfect for selling, call us at 602-753-0177 TODAY!