How is the real estate market in Phoenix and Scottsdale, Arizona during this trying time? Should I buy now? Are there deals? Should I wait to list my home?All great questions.;
Home Sold In 4 Days REALTORS® Tout Fast Sales While The Real Story Is In The Details
Dated: September 3 2019
Home Sold in 4 Days! I see Realtors touting the fast sales and using it to advertise their marketing campaigns and how it can work for you!
Problem is, everything is selling quickly regardless of marketing. We are in a low inventory cycle right now. Just in the neighborhood I live in, Anthem we historically have 350 homes for sale. As of this writing there are 110 homes for sale.
My economic background kicks in, supply and demand right? We should be increasing the list price since the inventory is so low. But there is one little caveat that keeps us from going too fast too soon, appraisals. Appraisers go back six months of closed sales for comps to uphold a sales price for the lender. They do not use homes that are listed but not yet sold and closed. In many ways this is a check and balance to keep us from returning to the cash of 2007-2008.
When selling your home in the current environment pricing becomes a fine line to ride and you need an experience Realtor on your side. Price too low and you leave money on the table with a quick sell. Price to high and you may sell but the home might not appraise. If the home does not appraise you can ask the buyer to pay (does not happen often..) or you must lower the price. If an agreement cannot be reached the sale is cancelled and the home goes back on the market to start the process over again.
Be careful with the Realtors touting quick sales right now. Pick an agent that has your best interest in mind and is not afraid to push back a little. We all want you to get that top dollar but we still need to consider all the factors and how it can play out:)
Ironwood Fine Properties
We are a group of local knowledgable Anthem Realtors. We live, work and raise our families here! North valley homes and communities are our specialties. It pays to have local expertise. Over 1....