Presently in the Phoenix Metropolitan area there are more than 57,000 active listings.  How do you compete?

Active - 57852 Properties Found

Square Feet

BedroomsBathsList PriceSale PriceAgent DOM Cumulative DOM
Min0
0
0
$ 8,000
$0 0
0
Avg2150
3
2.37
$ 437,402
$0
113
131
Max27000
36
65
$ 29,000,000
$0 1278
1378

 

In markets like this you have to think outside the box and try anything to sell your clients home and lessen the impact on your sellers.  What other options are there?

  1. Seller Carryback
  2. Lease Purchase Contracts
  3. Lease Option
  4. Any Others?

Depending on your clients situation and equity base some of the options may be attractive and allow the seller to make some additional money to cover their mortgage and even eventually sell their home.  The value of homes is still decreasing and were not sure when we will level off.  Put you best foot forward.  Price the home properly and try to think outside the box to market and work on behalf of your sellers!

More than 1/3 of the properties listed on the market are Vacant.  Why not offer them up as leases, lease options or a lease purchase?  Lease options and Lease Purchases allow the seller to charge additional monies to help pay their mortgage.  Usually these are done if the tenant really likes a property but has less than perfect credit to purchase the home.  It allows the tenant time to improve their credit and hopefully qualify by the time their contract is due.

JG Realty is a full service Broker offering Residential Purchases, Sales, Leasing, and Property Management

 
This post has been included in Arizona Information Maricopa County, AZ Information

3 Comments on Can't Sell Your Home?

Hi Rob, serious obstacles no doubt with all that inventory. One of the things I thought about was capturing buyers from other state who are likely buyer candidates for particular homes, etc. It might be much simpler for me--in my farm area-- the demographic is active adults. One quick look at where most of these come from leads me to marketing to 55 and older with equity to spare. I can direct mail offers (like a buying guide) or offer subscription to a real estate newsletter that pertains to this area and hopefully start building some relationships and leads. Haven't done it yet, but that is the direction for me--It's like pounding one's head against the wall when yo continue to pour money into advertising which does not produce good leads.

11/17/2007 10:05 AM by John March (Exit Realty Unlimited)


Buyers will come when the price is in line with current value.  This is a difficult concept for sellers to accept.   Today's buyers are value savvy and not acting on emotions or impluse.

11/17/2007 10:15 AM by Norma Toering Rolling Hills & Palos Verdes Property (REMAX Palos Verdes, Palos Verdes Peninsula)


With as many short sales, preforeclosures and foreclosures that we are experiencing in Phoenix it is difficult to comp a home.  These low outliers are now becoming the comps.

 

rob

11/17/2007 10:59 AM by JG Realty,llc


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Real Estate Brokerage: JG Realty,llc
Rob Jones Greater Phoenix Real Estate Broker
Phoenix, AZ
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JG Realty,llc

Office Phone: (480) 205-0070
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