Arizona Real Estate, Homes for Sale & Blog
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While this title may sound a bit nebulous, it is a very real concern for home sellers across the Nation. Everyone that lists their home for sale dreams about a quick and easy sale with no concerns arising during closing. This does indeed happen, some of the time.
Then again, sometimes homes sit on the market for months, even years without any action; so where does the blame sit? This is something that is hard to say as homes each have their own individual concerns and qualities. There are, however a few things that can be generalized when homes don’t sell.
One of the biggest and most common reasons that homes do not sell is the fact that they are overpriced. Before listing your home a realtor should perform a CMA on the home to find out what the comps are selling or have sold for. Comps are homes in your area that have been sold recently and offer a similar package to what you home offers.
These homes will help to dictate an appropriate price range for your home sale. Of course there are modifiers that will change this asking price such as renovations, and extras that your home offers. Do remember however, that there is a price range for your neighborhood and pricing your home outside of it (on the high side) will almost ensure that your home does not sell quickly.
If your area is a hot selling area currently, overpricing can be disastrous as buyers will look to lower priced homes before looking at the higher priced options. If your home is overpriced then it is possible that the area could lose it’s “buzz” by the time you lower your price to be more in line with the other homes.
At this point you may also run into the trouble of people wondering if there is something wrong with your home as the price has been reduced. This is a common concern with reduced homes. There is really nothing wrong with them, but buyers will always wonder why a home does not sell and then has it’s price reduced.
Be careful when pricing your home, you may have a lot of good memories and time invested in your home but buyers will only be interested in the home itself and not your history there. Mistakes in pricing can be costly in the long-term.
In the business of real estate, first impressions are everything. From the selection of your realtor to the search for the perfect home, this is an industry where deals are made on first impressions, (and some contentious follow-up!) To give your home the best chance of selling quickly and profitable you need to ensure that the first impression buyers have of your home is an impressive one.
There are so many little things about a home that as an owner you likely don’t notice as you see them every day. It is these little things that can reduce the visual impact of a home at first sight, so it is these little things that you need to deal with before the home is listed.
- Entranceway – There is little that is more important at first glance than the entrance of the home. Buyers must feel welcomed as they approach your home. If the front of the home is dirty and messy then buyers will likely not have a very high opinion of your home, regardless of what awaits inside. Start with the front door and work your way out. Is the door itself old? New doors bring a decorative note to the front of a home and are relatively inexpensive.
- Paint & Siding – Whatever surface your home has, in the event of selling the home it is well worth the time and effort to either have the surface cleaned or painted. With surfaces like vinyl or other synthetic siding a good power washing can restore the luster and beauty of the siding. If your home is wood or stucco then painting is your best option. Remember to stick with neutral colors that fit in with the other homes on the street.
- Landscaping – There are few things that can improve the look and feel of a yard like professional landscaping. Manicured lawns and tended gardens speak highly of the quality of a home and add a great visual hook for buyers.
- Cleanliness – General cleanliness of the home’s exterior cannot be stressed enough. Spend some time sweeping the driveway and watering the garden. Take any scuff marks off the front of the home and door. Make sure there are no piles of garden tools lying around and that the gardens are free of weeds.
If you take the time to consider the first impression that buyers will get from your home, you will enable your property to sell faster and for more money. And a quick and profitable sale is the goal of this exercise right?
Lake Point Village
Association Fee Includes:
Blanket Ins Policy, Common Area Maintenance, Exterior Maintenance of Unit, Front Yard Maintenance, Garbage Collection, Roof Repair, Roof Replacement, Sewer, Water.
Information deemed reliable, but not guaranteed. Please contact one of our Tempe real estate specialists at 602-492-7469.
All Goodyear Home Sales in March 2014
This chart shows the total amount of Goodyear home sales that happened last month March, and how those sales compare to the last ten-years. Each bar represents the total home sales for March of the respective year, and tracks both single family homes & condos/townhomes. Goodyear, AZ is adjacent to the cities of Avondale, Buckeye, and Litchfield Park.
In March 2014, there were 150 total transactions in Goodyear, AZ. Of those transactions, 129 (86%) were traditional sales, 8 were short sales, 12 were REOs, and 1 was a HUD sales. As you can see in the chart, the worst March for REO sales was in 2009, when there were 124 REO transactions, and it didn’t let up much for the next 3-years. As far as short sale transactions go, 2012 had the most short sale transactions in the month of March, logging 57 short sales.
- Average Sales Price Per Square Foot: $110.77 (multiply this by your home’s square feet for a rough value of your home)
- Average Days on Market: 74 (average number of days before a house sells)
- Month’s Supply: 5.1 (balanced market, slightly favored to sellers)
- Average Sales Price as a Percentage of List Price: 97.68% (houses are selling under list price)
Year Over Year
Total number of transactions are down compared to the previous five-years, but traditional home sales are up compared to the past 8 years, and the total number of transactions is near the 2005 level, which is something a lot of other cities cannot say.
Free Comparative Market Analysis
Thinking about selling your Goodyear house? When you have a moment and get your free home worth estimate.
Chart is courtesy of The Cromford Report.