Phoenix Metro Real Estate and Community News

Pricing a home correctly is defined as pricing a home in a price range of comparable other homes sold in the last 3 to 6 months. A home priced more than 5% under the lowest sale, may be considered under priced. A home priced more than 5% above the highest sale, may be considered overpriced.   

In considering a list price, you might want to consider:

• Appraisal - What is the highest potential appraisal value of my home? One of the main reasons to price a home correctly is to avoid appraisal issues. 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 can perform a Comparative Market Analysis (CMA) when a current appraisal is not available. A comparative market analysis should give an accurate idea of how your 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 or 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.
• Active Home Sales – How many homes are active in the MLS in your area? This is important, because this is a list of your competition, who is seeking to steal your buyer! The winner gets to move, and the loser gets to wait for the next buyer.
• Location, Conditions, and Terms - Keep in mind that if your home has issues in any of these areas, buyers will want a discount the price to deal with the issue. If you are able to fix the issue up front, your home is much more likely to return market value and to sell quicker!

Do you want to learn more about this or other ways to get the most money from your sell? 

Contact us at (602)753-0177 or www.MyAZHouse.com

Recent data shows two things:

1. Homebuyers are rapidly returning to the housing market this summer.

2. Available home inventory cannot keep up with homebuyer demand.

DM or call me at 602-753-0177 to explore your options as a homebuyer, or to learn more about how selling now can make your house rise to the top of the pool for buyers.

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For the 7th year running, Americans have ranked real estate as a top long-term investment. Let's connect to discuss your real estate plans for this year.

No matter what part of the valley you’re looking to move to, we can help! Call us at 602-753-0177

There are many financial and non-financial benefits to owning a home. Let’s connect to put your homeownership plans in motion this year.

More and more data points show that buyers are ready to enter the market this summer. Call me at 602-753-0177 to discuss why high homebuyer demand puts potential sellers in a great position to make a move this season. 

#realestate #mortgage #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestatetipsandadvice

For those who want to know what’s going on behind the scenes. Here is the market report for June 2020. It’s actually better than originally anticipated.

If you’re in a position to buy a home, this summer is a great time to make it happen. Historically low mortgage rates are driving affordability for homebuyers right now. Call me at (602) 753-0177 if you have questions about how to begin the homebuying process.

#mortgagerates #FreddieMac #buyingahome #firsttimehomebuyer #opportunity #housingmarket #househunting #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal

The Phoenix real estate market has shown to be very strong over the last 12 months. Most homeowners are thrilled with their appreciating home values. Many are planning to take their new equity and purchase a bigger home. As you look to list and sell your home, there are a number of options that can leave you with more money or less money for that new purchase.

When the market is appreciating, we also see loads of new agents enter the market. Most are eager to build a real estate business, but few understand the business basics. Some are unaware of how to get sellers higher prices for their home and net sellers more money after expenses of selling a home. Here are a few business basics to protect you when you look to sell:

Presentation – Most buyers are picking homes to see on weekends from a variety of websites such as Zillow, Realtor.com, Truilia, Redfin and more. Buyers are also using a variety of devices like iphones, ipads, laptops and desktop computers. Buyers pick out 8 homes from reviewing 50, 100 or more online. The point is that if your online presentation is not good enough to make the short list, buyers will not be seeing your home on Saturday. So, what is the plan to make the short list for viewing on Saturday?

Follow-up Plan – After you have your home listed, the next time most homeowners hear from their agent is when an offer is presented. But, what happens when an offer does not come for 30 days? What happens when agents are showing the home, but there are no offers? What happens if there are not enough showings? Agents should have an action plan to consult with homeowners and make as needed to get the home sold.

Negotiating Offers – You receive an offer, but it is $10,000 below anything you can accept? What is your agent’s plan now? Do you remember back when you listed your home and the agent reduced their commission to get your real estate listing? That may be your first sign that your agent does not have strong negotiating skills or confidence in those skills. A great agent should always have a game plan for getting the initial offer price higher.  

Buyer Qualifications – The purchase offer came in at a great price, but the lender is unable to document the buyer’s down payment. After 30 days, when the home does not close on time, the lender breaks the bad news to the buyer, seller and agents. Agents should be reviewing buyer qualifications with the lender prior to contract acceptance and should have a plan to get updates throughout the escrow period. Without that plan, your home may not be closing on time if at all.

Do you want to learn more about ways to your home sold for the best price? Contact us at (602) 753-0177 or www.MyAZHouse.com.