Market update/strategy to sell your home quickly in Phoenix
Hello and happy Saturday!
We thought we would take a moment to address our strategy for selling homes in the current Phoenix real estate market....
It amazes us how many "For Sale By Owners" and even MLS-listed homes are priced vastly over comparable homes' sales. 2005 was an annomaly; no market can sustain 50%+ annual appreciation. Yet there are many homes for sale that are priced for another major upturn; this only makes the market look depressed, as it raises the average 'days on market' count.
Phoenix is still a great place to live, work, and invest in real estate, so long as you have realistic expectations. The market is still strong, but if you are trying to sell your home, you have to understand that there is a lot of competition right now - drive through any neighborhood and you'll see a lot more "For Sale" signs than you did this time last year!
If you are looking to sell your home quickly, here are some suggestions we make with our clients:
1. Price your home fairly from the start. The longer it stays on the market, the more likely it is to be passed over by agents or buyers, as they will figure something must be wrong with it to not have sold yet. You also have the most activity on a home when it initially hits the market - why waste that 'hot' time by over-pricing?
2. USE THE INTERNET! In 2005, 79% of all buyers used the internet to search for info on homes. This is by far the most-used medium for gaining home info. As you can see by our site, we post photos, virtual tours, maps (when available) and voice-over technology to give buyers much more data than a typical agent, or even the MLS system.
3. Don't list your home before it's ready to be shown. Are you planning on re-painting? Cleaning out closets or the garage? Does your pool or landscaping need some love? Take care of ALL 'to-do' lists BEFORE you put your home on the market! Again, the best time to find a buyer is when your home is first on the market - it is most likely to sell for more money when it is a fresh listing. You wouldn't buy a car that wasn't finished being assembled; a buyer wants to see the finished product before committing.
If you are looking to buy or sell a home in the Phoenix metro area, please contact us for more hints, advice, and market analysis!
Sharon Kotula, ABR
Adam Tarr, ePRO
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333