So you're thinking about selling your Phoenix area home. I get this question all the time.
What should I fix up and what should I leave alone?
What do Phoenix area buyers want nowadays?
I'll tell you. Well actually, let's borrow from the National Association of Realtors. They profiled homebuyers and sellers. They found out that buyers plan to live in their homes for the next ten years. They want houses that offer the room, flexibility and comfort they anticipate they will need for a long time. Over three out of four buyers chose a detached home, while attached homes like condos and townhomes were preferred by people who are single and have no kids.
If you're buying or selling a home in Phoenix or a house or condo in Scottsdale or buying a property in any other Valley city, you're going to hear this word: Appraisal
So let's just tell you what an appraisal is
An appraisal is a comprehensive look at a home's location, condition and eligibility for federal guarantees.
A bank appraisal is a professional determination of the value of a property.
For example, a home that doesn't meet safety requirements such as handrails on steps will not be eligible for FHA or VA loans until the handrail is installed or repaired. Appraisers use the same data in their market research to find comparable homes as Realtors do. They are also members of the MLS, but they also have additional guidelines from the
Despite all the talk of balance or a real estate market that favors buyers, Phoenix homeowners got a bit of good news, as the latest Case-Shiller Index revealed another (albeit slight) increase in home prices. According to the index, Phoenix home prices rose 1.2% from September to October. That’s the third highest increase among major cities, trailing only Detroit (1.5%), Las Vegas (1.3%), and slightly ahead of Los Angeles (1.1%).
Year to year, Phoenix home prices are up 18.6%. That’s a pretty significant number, yet much less than the robust annual increases in Las Vegas (29.1%), San Francisco (25.7%), and just behind Los Angeles (21.8%), and San Diego (20.9%). Phoenix ranks 6th on
Are Phoenix home buyers ready to go holiday shopping?
The holidays are typically a quiet time for the real estate industry. After all, homeowners are busy preparing for Thanksgiving, Christmas, etc. and have little time to accommodate prospective buyers. And this year is no exception.
“I don’t think anything exciting is going to happen (to the Phoenix real estate market) before Christmas, and usually January is pretty quiet,” said Arizona State University Director of Real Estate Michael Orr on his weekly appearance on That Real Estate Show. “So I think the next time we’ll have some good idea about where (the market) is headed will be towards the end of January.”
Orr expects a light holiday shopping menu for Phoenix homebuyers, which
Every Saturday at 3pm, That Real Estate Show’s Diva Danielle has great event suggestions for those new to Phoenix, or anyone looking for a fun night out. Danielle also wants to help others get involved in the community, and has a volunteer opportunity every week to help those in need here in the Valley:
Don't miss out on more great vounteer opportunties, plus many more fun events going in Phoenix, Scottsdale, and more every Saturday at 3pm on That Real Estate Show!