Russ Wald

AZ Mr. Lister


West USA Realty

Home buyers: Don’t be afraid of a seller’s market

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Pretty much all statistics, research and real estate professionals will admit that it is currently a very strong seller’s market. That being said, this doesn’t mean that you can’t buy.

If you’re smart about beginning your home purchasing journey, it can always be a good time to buy. We’ve come up with our opinion of the most helpful tips for home buyers in a seller’s market.

 

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1. Get mortgage prequalification/preapproved before you start shopping.

There are a few good reasons for this. One being that it informs you on what you can afford.

Getting prequalified will eliminate wasting time on looking at homes that aren’t in your price range and keep your search more focused. No one wants to drive around town visiting homes that are not within their price range, and trust us, your realtor won’t want to either. Use your time wisely and get prequalified.

Prequalification also shows the seller that your offer is strong. Pre-approval shows the seller that you have been vetted financially. A pre-approval letter will help you act quickly when you see a home you’re highly interested in.

2. Do your research.

Know what’s out there. Do some research on the areas you’re interested in and collect information on what you can get for your money. This will save you time and disappointment when you begin shopping. Don’t leave room for negative surprises to arise. Inform yourself on neighborhoods that will most likely work for you.

3. Find a good agent.

Finding an agent will not only save you time, but save you a lot of hassle. A good agent will be able to guide your search and keep it moving in the right direction by smoothing out bumps in the road and offering their expertise on the market. A real estate agent costs buyers nothing, because the seller pays the agent commission. Look for referrals from friends, family and coworkers who’ve had pleasant experiences with the agent. Look for a full-time agent who works often in the neighborhoods where you have interest in. Everyone is different, but try and find the agent who is perfect for you. For example, if you can only look for homes on weekends, you don’t want an agent who doesn’t work on the weekends.

4. Be ready to move fast. Don’t wait around

In real estate, the early bird really does win the race. If you see a good listing hits the market, you should seek to see it instantly. If it comes on the market, don’t feel the need wait for the open house. With today’s bidding wars, it isn’t uncommon for a more aggressive buyer to make an offer within hours.

 If you’re interested in a home, move fast with a strong offer. Find out what is important to the seller, so you have a good chance against other buyers. Then, structure your offer to meet their needs.

5. Pay more cash up front.

Not all home buyers need to put 20 percent down when they make an offer on a home. Still, you’ll make your offer stand out by providing more money up front. The cash help insure home sellers in case the buyer backs out of the deal. If everything works out, the money will go toward the down payment and closing costs. It also shows the sellers how committed the buyer is to the sale.

If you have any questions or are seeking guidance in beginning your home search, give us a call! We’re glad to help.

 

It is indeed a very strong home-seller’s market

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It’s a great time to be a home seller!

Now is prime time to sell your home as inventory is low, and the demand for listings is up.

We’ve found ourselves back in the good ol’ days of bidding wars, as 47 percent of home sellers say that they are receiving multiple offers on their homes. This means, it is much more likely for your property to sell for above the list price.

There is now less pressure for sellers to say yes to the first offer on their home, giving them a better chance to be smart and make the right choice! Home sellers: It’s your time.

According to The Fiscal Times 27 percent of sellers, reported they had sold their home for more than their asking price. That is a large increase from only 14 percent of sellers doing so during the recession.

In a report by bizjournals.com, homes listed for sale stayed on the list for only 64 days and home prices have been pushed to 2.7 percent higher than last year’s percentage. The closed home sales also increased to a total of 15.7 percent this year.

Another factor putting the market in favor of sellers are low mortgage rates, which have built up some pressure on buyers to close up deals before borrowing becomes more expensive.

The purchasing of homes in the U.S. rose this summer to the highest level that it has in seven years, and it is only expected to continue through 2016.

For more information on the market, and getting your home sold, please feel free to contact our Team.  For questions on Lending contact our preferred lenders at Nations Choice, and see what’s being listing in the Valley on our website.

We’re always here, and we’re glad to assist you with you selling your home! Give us a call or shoot us an email.

Negotiate Home Purchase With the Right Mindset

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It doesn’t matter how low an offer one puts for a house, they are always going to wonder if they paid too much, and for good reason! Unless you are a mnegotiate home purchaseaster negotiator when it comes to bargaining, no matter the type of purchase, one can easily drop the ball and end up paying more.

Don’t be too hard on yourself; the circumstances of such negotiations are usually out of your control. But what is in your control is your mindset before walking into a negotiation with your real estate agent.

You Might Have To Walk Away, Be Prepared For It

Even if the house you’re considering meets all your criteria like, design, amenities and convenience. Don’t go in telling yourself that you “cannot lose this house”, as you are likely to overpay. Rather, consider your situation and decide a scenario that is the most practical for you, and be prepared to walk away if you best offer isn’t good enough for the seller.

Ensure Your Offer Has an Expiry Date

When you place an offer on a house, you don’t want to give the seller a lot of time to consider other offers. When placing your best offer, remember to consult your realtor and give an appropriate expiration date. This strategy can also start the negotiation process early if the seller believes you are the best offer he is likely to get in the time frame provided.

Display Good Faith with Earnest Money

If you are interested in a home you can sweeten the deal for the seller by giving a large amount of earnest money. If you or your real estate professional recommends an amount of $2000, make a $4,000  earnest money deposit. This will give the impression that you are committed.

If you are considering the purchase of a home in Chandler or Tempe in Arizona, observe these negotiation guidelines when exploring the real estate market.

 

Perks of Buying a Home Rather Than Renting it

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Buy A Home – Some Reasons To Consider Purchasing Instead of RentingBuy A Home

If you are struggling in your decision about whether you should buy a home or rent it, after reading what experienced real estate professionals have to say you will find that the answer is pretty simple. Consider the following reasons to pay the 6 month advance on your rent.

Energy efficiency, More Savings

Owning a home allows you to make improvements to your home that promotes efficient use of energy. You can upgrade you air conditioning units to adding insulation. This way your monthly bills experience a significant drop. Home owners have the advantage to make incremental additions to their homes and that in time results in substantial savings.

Complete Freedom of Customization

When you feel like renovating an entire section of your home or knocking down a wall to allow making a master bedroom; if you own a home you can do so easily without a second thought. Such customizations can reflect your own tastes; you have the freedom to do so without worrying about your security deposit of course.

Buy Fewer Pieces of Furniture

People who own their own homes buy furniture for the long haul. They buy furniture as and when the need arises. People that move very often end up buying a lot of furniture to fit every new home. As a result most of that furniture becomes unusable when they move to a new place. People that own homes buy furniture that is actually going to stick around.

Enables Building more Income Streams

When you own a home of your own, you can make some extra money by renting out a spare room or the driveway to commuters. Realtors believe homeowners are getting creative with how they use their property to generate a steady stream of income. In the suburbs people even rent out patches of their lawn to people who wish to grow a vegetable garden.
If you are considering the purchase of a home in Gold Canyon, Chandler, Gilbert,  Arizona, get it touch with us, and we can guide you in your daunting endeavor.

Home Selling Tips

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sold_sign4 Ways To Kill Your Home Sale 

Selling a house in the current market can be tricky, but there are certain mistakes an owner can make that will cause a Gold Canyon or Scottsdale home to sit still without a decent offer and cause the listing to go stale. In order to prevent that from happening, make sure you are not making one of the following mistakes when putting your property on the market.

Overpricing

While your home may hold sentimental value, many times that value does not translate into dollars. Be realistic about your asking price and know the details about your current market. Look at the list price of similar homes on the market to get a rough idea of what you should ask for your property. Getting home selling tips from the current listings and rating your property against them is key.

Make special note of the actual closing sales price as well as the time on market and listing to sales price ratio. A licensed real estate agent can provide these details as well as give you their expert opinion based on experience and comparable properties.

Neglecting Repairs

Glaring problems with a property will cause the buyer to think the home was not properly maintained. While it may cost some money, repairing things like holes in the walls, broken light fixtures or missing tiles can change a buyer’s entire attitude about a property. Ask for help if you aren’t comfortable doing these things yourself. A real estate professional will have a whole list of qualified referrals who they trust to help you get things fixed up. Coming up with good home selling tips is just good common sense sometimes.  Put yourself in the buyers place and ask yourself the questions they might ask.

Ignoring Curb Appeal

Overgrown and unweeded yards can cause potential buyers to drive right by. Having a groomed yard shows pride of ownership. Also, having junk in the front of your house or peeling paint can deter someone from considering the property. Step across the street and take an honest look at your house – and then make necessary adjustments. Fixing these items may be as easy as one weekend day of clean up and a little elbow grease. And even though it’s not expensive to fix these issues, it can make thousands of dollars difference in the sale of your home.

Creating Or Allowing Foul Odors

Odorous foods, pet dander and the smell of smoke can be extremely distasteful to buyers. Even if you are used to the smell, others entering your house will not be. Make sure you air out the house, smoke only outdoors, and put away the litter boxes before an open house or showing. Also, ask someone who isn’t at your home often to come in and give it a smell test. Brutal honesty here might hurt a little bit, but it’s a lot better than allowing this problem to prevent a quicker sale of your home. Without even realizing they’re sabotaging a potential sale, homeowners can make several mistakes when first trying to sell their home. To find out what you can do to make your property really stand out to potential buyers, please call me, I would be happy to answer any questions you may have or give you a free Market Analysis.

Home selling tips provided by AzMrLister.com

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