Short Sales and Foreclosures in Scottsdale Arizona what you need to know!
How Traditional Arizona Sellers are Competing with Short Sales and Foreclosures in the Real Estate Market in Scottsdale
Sellers, be aware. Now more than ever, sellers of Scottsdale real estate must become educated on what they’re up against when selling a home in today’s Arizona real estate market. It is a fact most Arizona neighborhoods, even in Scottsdale, have property values that have been negatively impacted by short sales and foreclosures.
The Arizona real estate market was one of the hardest hit in the country. Arizona’s home prices have dropped considerably over the past four to five years, and short sales and foreclosures continue to affect the local real estate market.
So, what’s the best way to get educated about the real estate market in your Scottsdale neighborhood?
Contact a real estate professional. Real estate professionals will provide you with a detailed analysis of all the homes sold in your neighborhood, and your Realtor® can also determine the impact short sales and foreclosures have on the value of your home in particular. If time permits, look at homes that are currently for sale in your neighborhood so you can see how your home will compete with others on the market. Try to look at homes that are being sold by a traditional seller as well as short sale and foreclosure homes.
Listen to your real estate agent. When it comes to pricing and how best to present your home, listen to your agent. Remember, you have contacted someone you know and trust as a real estate professional, so be attentive to their consultation. While price does seem to be a driving factor in the current real estate market, it’s not the only factor. Ease of sale is important to buyers. Many buyers have tried the short sale and foreclosure scenarios without success. For this reason, buyers are turning back to homes being sold by a traditional seller while keeping a lookout for short sales and foreclosures.
Make sure your property is in tip-top shape. As a seller competing with short sales and foreclosures, it’s to your advantage your property stay crisp and well-maintained. Make it a top priority your home presents well and that all maintenance issues have been taken care of. Most short sale and foreclosure properties are not in good shape, and many have delayed maintenance issues that can sometimes be costly.
Not every short sale is handled the same and certainly not every Short Sale and Foreclosures in Scottsdale Arizona is the same so it is important to know what the differences are. Make sure you do consult with an Agent who has their pulse on the local market especially for short sales.
If you’re thinking about selling your home, give us a call. We’d be happy to share our advice and expertise with you. Call Mike and Lisa O’Brien at 602-380-9053, or email us at Obrien4homes@cox.net.
For other helpful tips and information visit our website at www.mike-lisaobrien.com.
