Pay Attention to Market Conditions

How many homes are for sale in your community and do they sell quickly?  Is your subdivision "in demand" in the marketplace? Are there specific reasons why people would want to live in your community such as convenience to major transportation routes, shopping, etc.?

We track the number of properties that are listed, the number of properties that sell, the prices they sell for, the trends over the last year, etc.  We illustrate the type of trends that are occurring in the local housing market with our Pulse of the Market reports. 

Note the chart below:

Which Direction are Mortgage Rates Going?

If mortgage rates are rising buyers will want to move quickly to lock in rates. Yet if they have been rising for some time then buyers may now be resistant to buying in a higher interest rate market.

As of September of 2006, mortgage rates have taken a breather from the steady increases that were occurring regularly since rates bottomed over a year ago.  The increases, linked to the increases over the Prime Rate which started increasing over two years ago, have taken some of the steam out of the buying frenzy yet rates are still significantly low by historical standards that saw them rise to as much as 16% not too many years ago.   Rates for 30 year fixed mortgages were over 9% in early 1995 and are at about 6.5% in September of 2006 by comparison.

One of the keys here is Buyer perception as to which way rates are going.  If they see rates potentially dropping they will hold on for better rates.  If they believe rates will be rising in the future they will, as mentioned earlier, act quickly.

Feel free to give us a call at 480-473-9999 to discuss how this might impact you in your selling decision and in setting the price of your property.    Please ask for Mike Bodeen.

Get Your Property in Top Condition

Especially in a buyers market, you will want to have your home in the best condition possible.  The first impressions of buyers when they see your house from the street and when they walk in the door are crucial.  Consider staging your home which is having a professional bring in specific furniture and decorations to make your house more appealing to a wider audience of buyers.

Get Rid of the Clutter!

Nothing can hinder buyers more than a cluttered home. Emotionally they may actually want to leave your house as soon as possible.  You can store your accumulated items in boxes in the garage or even better, have a POD delivered to your house and load the clutter in it and then have it hauled away to storage for your later move.

Staging

Staging is the process a property owner goes through to arrange and decorate the house and yard just prior to selling the property.  It can be as simple as rearranging furnishings or might include bringing in a professional stager who can provide not only advice but furnishings, plants, artwork, etc. to enhance the property.  The end result can be taking a house that is a "yawn" and transforming it into a house that is a "Wow!".

We can provide basic staging advice to you for free.  We also have several contacts on our "Team of Experts" that are trained in home decor and staging to help you get the most dollars from your property.

Contact us to discuss ways in which we can help you.