Real Estate market conditions are in constant flux and your home selling strategy will need to keep up. For instance, your game plan in a market with low inventory like current 2020 first quarter conditions, will be entirely different than a market saturated with listings, and each variation in between will alter your methods in its own unique way. The CURRENT state of the LOCAL Real Estate market is probably your number one prerequisite when pricing your home, and the most important contribution your RealtorⓇ can make.
When collecting comps that closely correlate to your property, consider the non-physical aspects of the sale, in addition to the tangible like condition, upgrades, and features. Circumstances that may not be immediately obvious can include but are not limited to: whether it was a distressed sale, whether the transaction was an accepted arms-length transfer, cash or financed i.e. was an appraisal done, and whether or not the transfer you are looking at was a component of a fix-and-flip deal.
Curb appeal is doubtless second on your lists of ‘must haves’. If your property does not appeal to potential buyers when they drive up to the curb, they will at best enter your home with a predetermined bias against it, and at worst might just drive away.
Before listing your home for sale, it’s worth taking the time to consider as many scenarios as you’re able. Be prepared for both commonplace and unusual contract negotiations and concessions, and have a plan of attack in place to deal with each of them.
One final consideration is the home inspection. If you are aware of an issue that will arise during the home inspection, consider addressing it before you put your home on the market. Any problem for you will be a problem for a home buyer. I can only speak definitively for Arizona laws, but here, under any circumstances, a home seller must disclose the condition of the home: whether you employ an agent or not, whether there is a home inspection or not, and whether or not the home buyer is financing or paying cash.
Selling This Year? Read This Before You List
By John Voket
If you plan to sell your home this year, it’s more important than ever to do your homework first to clarify the value of your space.
According to Marian White at moving.com, start by researching the local housing market:
- Take a look at comparable sales in your neighborhood to figure out the appropriate listing price for your home.
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Pay attention to the various comps’ square footage, features and location.
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Think about how they compare to your home.
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Consider consulting a reputable REALTORⓇ to assist with finding comps and determining a listing price for your house.
The team at loveandrenovations.com says before you begin staging and put your house on the market, do a thorough walkthrough and put on your “buyer glasses.”
Think like a buyer might think. Are there any weird stains on the flooring or crayon on the walls? Is the bathroom really outdated compared to other houses they’ve been looking at?
Try to identify anything you might notice if you were considering buying your own house, and then address any major red flags.
Elizabeth Weintraub at thebalance.com suggests if you end up choosing a real estate agent to work with, make sure the REALTOR® you choose is a person you like. Then have a discussion about your preferences upfront – like how you prefer to communicate and how often.
Weintraub says you’ll make it easy for your agent to meet your expectations by establishing those preferences clearly and early on.
At familyhandyman.com, Nick Gerhardt says to ensure buyers want to see the inside of your home, make sure the outside is well-kept, tidy and inviting.
Gerhardt says it’s important to touch-up or completely repaint trim, keep the grass cut, edge along sidewalks and paths, maintain flowers and shrubs, and keep the yard tidy in case any prospective buyers are driving by.
Reprinted with permission from RISMedia. ©2020. All rights reserved.
For more information, Call or Text: 602-999-0952
eMail: golfarizona@cox.net
Bill Salvatore / Arizona Elite Properties
Your Valley Property Team
Residential Sales, Marketing, and Property Management
Founder: AZVHV Arizona Veterans Helping Veterans
Recipient: East Valley Tribune’s: Best Gilbert Realtor
More Resources for Home Sellers and Home Buyers
Our Buyer’s FAQ page has 9 of the most frequently asked questions from Home Buyers, along with 10 additional resources for Home Buyers at the bottom of the page.
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Thinking of Selling your home? First check out our 9 FAQs for Sellers. Then read on, there are 9 additional resources for Home Sellers at the bottom of the page.
Home Buyer’s Frequently Asked Questions
Home Seller’s Frequently Asked Questions
What’s My Home Worth? FREE Market Analysis of Your Arizona Home
