March 14,2012
Last night just before closing of Costco on Hayden Road, I ran into 4 real estate agents that specialize in the Luxury Home Sales Market -- they work in Fountain Hills, Paradise Valley, and North Scottsdale. Three of the 4 had massive loads of items in their carts!
I mentioned to them -- Well, Business is good? -- One answered - Yes - I sold a 3.5 million dollar house and it closed today!
The others related similar stories however with price tags in the 1 million to 2 million dollar range.
The market is very busy -- because: prices are finally getting reasonable on the high end inventory: there is cash chasing the good deals; mulitiple offers are driving prices above asking price; well priced inventory is in short supply; appraisals are verifiying offer prices; buyers outnumber good houses available (priced correctly).
I remind you of the KOM/QOM Factor: King of the Mountain/ Queen of the Mountain Fator:
Land value analysis tool: 1-5 below the road, 5-10 above the road. Highest house on the hill 10 for land value; lowest house below the road a 1 then 5 at low side of the road and 6 on the high side of the road.
All features and size to size comparisons go into the remainder of the house evaluation: compare age,size,economic utility, garages,bedrooms,bathrooms, lot size, and compare sell price per square feet of house and of lot.
Compare taxes for land and buildings and the treads over the last 4 years. The percentage change year to year give you a general though not specific idea of the value today. Taxes are typically 2 years behind the market both coming down and going up.
Remember invest for cash flow and buy your own home for comfort!
Need any real estate help? - Luxury Residential, Development, or Investment give me a call: Tish -Tom Tischer Associate Broker, 480-231-0782, TTischer@Gmail. com or www.PVLuxuryHomeSearch.com for all luxury home listings in PV, North Scottsdale, Arcadia
77 Degrees Today! Hope you are enjoying a Spring Training Game Today! Tish
Comments(0)