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If you’re selling your home and you can’t decide whether or not to stage it, consider this: According to StagedHomes.com, non-staged homes across the U.S. spent an average of 175 days on the market. Staged homes sold in 35 days, on average -- that’s 80% quicker.
According to a HomeGain.com survey, home staging activities all yielded 300%+ returns on the homeowner’s investment -- meaning that the staged home’s sales price was 3 times -- or more -- greater than the money the homeowner spent on staging. Check out the table, courtesy of StagedHomes.com:
Welcome to the eleventh edition of the MyPhoenixMLS area-specific market conditions update. Today, I’ll describe what’s gone on in the Scottsdale, Paradise Valley and Phoenix area real estate markets this past month.
The number of homes resold in Scottsdale in December increased 12.7% after falling 26.7% in November. The 310 homes resold is 17% higher than in December 2007. The median price increased, too – 7.2% to $403,000. That’s 21.7% lower than in December 2007.
Foreclosure sales represent a great bargain for home shoppers in Scottsdale -- the median price of a foreclosed home in (0 comments)
East Valley December Market Update - 01/26/09 01:17 PM
Chandler The number of homes resold in Chandler increased 4.4% in December, after a 16% decrease in November. The 355 homes resold outpaced December 2007 by 31.5%. After decreasing 1.8% in November, the median price was 6.3% to $207,000. That’s 18.8% lower than in December 2007. Of those homes sold, 59% were traditionally-sold homes and 41% were foreclosures -- the same split as in November. On average, foreclosures were priced 17% lower than traditional sales.
Following a 25% decreased in November, sales of townhouses and condos in Chandler increased 16.7% in December. The 35 townhomes and condos resold is (0 comments)
The ABCs of short sales A short sale is what I like to call a “less bad” alternative to foreclosure. It works like this: the homeowner sells the home for a market price that is less than -- short of -- the amount the homeowner owes on the mortgage. The owner then pays the lender -- who, of course, must agree to the deal -- and the lender forgives the difference between the sale price and the mortgage amount (so the homeowner doesn’t have to come up with, say, $30,000 in cash). Why would a lender agree to such a (0 comments)
Enjoy! What specifically happened last month/quarter in this market?
A total of 7,425 resale homes sold in Maricopa County in December, up 14.8% from November and 90.4% higher than in December 2007. Of the homes sold, 42% were foreclosures (down from 48% in November). Comparatively, in December 2007, 34% of homes resold were foreclosures.
The relatively high number of foreclosures continued to put downward pressure on prices, which fell 8.0% (compared to a decline of 4.5% in November). (1 comments)
With an economy in crisis, many homebuyers are looking to save money on their next home purchase by downsizing -- despite significantly lower prices for all types of homes across the Valley. There are a number of ways homebuyers are looking to downsize:
1) Smaller yards. Smaller home lots are typically less expensive and less costly to maintain. Whatever the size of your yard, native-type landscaping, (that means no grass!), can save costs on both water and overall yard maintenance.
2) Smaller homes. According to the National Association of Home Builders, the average home size in the United (0 comments)
As we all know, Arizona and Florida are two of the states most heavily affected by the real estate downturn. That’s why Fannie Mae has chosen Phoenix and Orlando to launch a pilot program aimed at helping homeowners avoid foreclosure. It wouldn’t help Phoenicians keep their homes, though -- the goal is to expedite the often-difficult short sale process, which is a less costly (for the lender) alternative to foreclosure, and is typically less damaging to a homeowner’s credit score.
In a short sale, the homeowner sells the home for less than the mortgage amount and the lender forgives (0 comments)
So the Housing Market Isn’t Great -- Here’s What You Can Do About It
Last Thursday I posted about how Phoenix has the dubious distinction of being ranked on Forbes’ “25 Weakest Housing Markets” list. But, even if you’re a seller in this market, you can take very important steps to generate buyer interest and get your home sold. (For more details on selling your home in a slow market, check out the free article at http://myphoenixmlshomevalue.com/7-selling-tips.asp.)
Step 1: Price your home aggressively. When things are slow, pricing is absolutely critical. But instead of pricing your home (0 comments)
Forbes loves to make lists. And Arizona, it seems, loves to be on them. This week, we received the dubious distinction of being one of the nation’s “25 Weakest Housing Markets.” That’s the first of the bad news. The good news is that the Phoenix and Tucson real estate markets are expected to hit bottom by the end of 2009. Ranked according to when the real estate market is expected to hit bottom, Arizona was among the “best of the worst” -- Phoenix came in 20th and Tucson 22nd, both with forecasted bottoms at the end of 2009. The market (0 comments)
A January 1 article on Bankrate.com began: “The year began with low mortgage rates and ended with even lower rates, and a bunch of crazy stuff happened in between.” To say the least. The low mortgage rates that we’re seeing right now are, in fact, a product of all that craziness; the Fed has kept its target rate low to try and stimulate borrowing. Bankrate reported that the national benchmark 30-year fixed mortgage rate ended 2008 at 5.64% -- a half a point lower than at the beginning of ’08. The rate was lower mid-December (at 5.42%) -- but before (1 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.