There are three reasons a buyer chooses to buy a Scottsdale/Phoenix area home:
Location, Condition, and Price.
Let’s take a look at each:
Price:
First, you need to know if your neighborhood and price range is in a buyer’s market or seller’s market. A buyer’s market is characterized by large inventories of 6 months supply or higher, fewer buyers making offers, low offers, and many seller concessions. A seller’s market is characterized by low supply of 6 months on hand or less, heavy buyer traffic, multiple offers, and close to full price or full price offers.
Your real estate agent will have access to that information and can help price your home accordingly. Buyers agents will have the same information and will share that with prospective buyers. If you overprice for the current market, your potential buyers won’t get their loans approved, if your home does not appraise.
Condition:
Allow your real estate agent to help you market your home by putting it in the best condition possible. Buyer’s pet peeves may be easy items to fix, but you don’t want your house to go to the bottom of their list because you failed to paint, tidy up the landscape, even mow the grass, replace the carpet, etc. Sometimes you have to invest a little money to make money.
Location:
You can’t do much about your home’s location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition. If you do have a great location, don’t overprice.
It’s hard not to be sentimental about the home you’ve lived in for years, but to buyers, your home is a commodity. Like you, they simply want to make a good deal on a home they love.
You’ll quickly find out what real estate agents and their buyers think of your home. If you get a quick offer, you know you priced it right for the location, condition, and the current market.
If you don’t get an offer within a couple of weeks, or whatever period is normal for your area, there’s something wrong.
Call me if you are thinking about selling your home. 602-531-0435. Or email Jeff@arizonasrealty.com.
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