Struggling with a troubled housing market many homeowners will need to consider all their alternatives. Some have optioned to rent their homes or perhaps offer a lease purchase. Both are reasonable options and can help a seller whom might be looking to seek housing elsewhere when relocating, downsizing or upgrading. If needing to sell then short sales are popular to sell quickly in slow market conditions. Trading houses have even been a means to sell if you can find another seller willing to trade their home with you.
When inventory is high and market is slow sellers must also be sure to be as competitive as possible, starting with the asking price and finishing up with providing the best condition of the home.
It's not unheard of to include incentives being offered to the prospective buyers to encourage them to finalize the deal. New builders do this often with private pools, upgrades and more. I've even heard of sellers offering to pay for the first three months mortgages and HOA's fees, offer new appliances packages, vacations and more. Being creative can certainly work but is no guarantee. There certainly is a lot of homes with pools in Phoenix and paying for a pool service for the first six month might just make that buyer pick your home over the guy next door.
Sellers also might consider a home staging service. Home staging specialists will come into your home and help you make the necessary changes to make your home more appealing. Perhaps a color of paint, rearranging rooms or updating areas and freshen up a dark corner.
Having your listing agent visit other listed homes in the neighborhood or the area and see what your competition is and where improvements can be made. Seeking to be the best available listing is going to attract the buyers to your home. Avoid the top ten mistakes sellers make.
Being realistic with a the market and not over pricing is going to keep you from chasing the market. Chasing a market is the last position you are going to want find yourself in. Be aggressive and listen to the market, know what your home is worth, seek a realtors help. Ask your friend to walk your home, start from across the street and take notes from the curb to the back fence. Take heed, prepare your home for a successful selling experience. It can and will happen!
Can you think of other alternatives or creative ways to sell?
If you haven't been sleeping under a rock then you know around the country, there are many areas that are experiencing a pricing downturn in homes prices. Not to mention loan requirements have tightened making it somewhat difficult for home buyers to qualify. Then add to that millions of foreclosures which in turn is causing many families to be displaced and looking for refuge. Where are those families going? I have come across many that are going into more affordable housing ie; rental properties.
Perhaps if you are one of those that wanted to wait it out for an opportunity to purchase an income property, become a real estate investor and looking for long term rental income, now might be the time to make that move.
The demand for rental properties is pretty high and I anticipate it becoming bigger, why not put yourself in a position of helping those that might need to rent for a few more years until they can either get their personal financial situation in order.
Perhaps they might have some challenges being they might be the one that just had a home that was foreclosed on and yet your home might be the correct budget range to get them back into a home. Of course, you want to take every precaution to work either with a management company to do a complete background check as always and/or do your due diligence on screening potential tenants.
If you are in a position to leverage yourself to purchase as an investor, with rates at historical lows and home prices discounted, this might be the best time to take advantage of buy low, sell high club. Once the market starts heading upward it's very likely you will be holding a nice real estate portfolio.
Now that FHA has put together an investors dream, you might find interest in the FHA HomeStyle Renovation loan program. This allows for repairs and improvements to a property that requires some work to be done!
| Property Type | Single Family Residential | Condos / Townhouses | Vacant Land | Multi - Family | Mobile Home
|
Rental
|
| Active Listings
Lowest List Price Average List Price Highest List Price |
64,911 $12,000 $376,332 $29,000,000 | 5,351
$15,400 $212,817 $2,495,000 |
24,745
$1 $319,901 $67,400,002 |
1,001
$23,900 $391,516 $16,500,000 |
1,978
$12,000 $143,243 $1,500,000 |
10,748
$78 $1,777 $225,000 |
*As of 1/09/2009
Arizona Homes for Sale: MLS Listings on PhoenixArizonaRealEstateHomes.com*
| Bedrooms | 0 Bedrooms | 1 Bedrooms | 2 Bedrooms | 3 Bedrooms | 4 Bedrooms | 5 Bedrooms |
| Active Listings Lowest List Price Average List Price Highest List Price | 941
$18,900 $391,698 $16,500,000 |
1,769
$12,500 $140,973 $1,495,000 |
13,932
$12,000 $215,228 $12,000,000 |
31,291
$16,900 $263,324 $13,000,000 |
18,914
$23,500 $448,199 $29,000,000 |
6,394
$29,900 $924,093 $17,995,000 |
*As of 1/09/2009
Greetings! In this month's newsletter, we're going to go over what you can do to give your house that all important "curb appeal." We're also going to look a little bit at different paint colors and how they can affect the way you see things.
Gilbert, Arizona Homes Anthem at Merrill Ranch Tempe, Arizona Condos Million Dollar Plus Homes Power Ranch Homes Candace Robinson HomeSmart Real Estate 480.202.3558 direct 1745 S. Alma School Rd Mesa, AZ 85210
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Fronting Up Well | |||||||
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Some estimates say that whatever you put into your front yard in terms of investment, you will get back four times over. We are not making any hard and fast claims about that … but we do know that the front yard can absolutely make or break a home’s salability. Everybody knows, from being told as a kid, that true beauty is on the inside. But when it comes to real estate (and books, incidentally!) we still judge by the cover. If doesn’t matter how much you’ve spent on the bathroom, kitchen or carpeting in the bulk of the house, if you have left your front yard messy, there will be a majority of people who won’t even bother to see those things, because the front yard made them feel it wasn’t worth bothering. So where do you start in your front yard? Cleaning it up is the first big step. It has to be mean and clean – no exceptions. If you have bark or rock garden beds, get all of the weds out from the middle of them, rake them flat and blow them off using the gentlest setting on a garden blower. Remove any garden debris that hasn’t been removed by the blower. Wash off your driveway – either give it a good sweep down, hose it off or get down with a scrubbing brush for oil and other car fluid stains. Wash or scrub your paving. Wash all of your fences and handrails with soap and water. Clean out the gutters , and while you are up there, you could give the roof and the gutters themselves a wash down with a bucket. Grab a pressure washer (you can hire them or borrow them if you don’t already have one) to do the exterior walls, and grab a ladder to do the windows and windowsills. After this, go through your front yard and have a look at everything somebody will be touching or using on their way through – things like gate handles, paths, house numbers (which are used to find the house!), porches and door knockers or bells. Consider replacing these if they are getting a bit worn, or else just give them a bit of extra spit and polish. Think about getting things like a hose reel, a lock for the mailbox, even a remote control system for either the gate or garage … it will be noticed! The part that is a lot more fun, but also more time consuming and requires more investment, is in the structure of the yard. Here you can think about walling and sectioning areas, tree placement and garden bed placement. There are a thousand different best case scenarios for a thousand different homes, but this is where you consider fencing, usability and balance. In terms of trees, think about the visual balance of your home from the street. If your front door is in the middle of the house when viewed from the front, create roughly symmetrical plantings on either side of it. Use larger trees and more shrubs to create symmetry if your front door is off to one side. Use repeating patterns throughout your garden, and don’t choose too many different types of trees or plants – create a theme. Also, when you are planting, don’t allow the front door to be ‘covered’ – of course you will always be able to use it, but try not to obscure it visually. That makes your home seem less welcoming – and while privacy may be good, if you are trying to sell, potential buyers need to feel welcome. However, just remember you are halfway there simply by thinking about it and putting in a little effort. Not much more to go! Paint It … Black? You will often see it written that a fresh coat of paint is one of the easiest and cheapest ways to liven up your home for sale – not to mention adding to its value. When it comes to choosing the color though, you obviously have the whole rainbow to choose from … plus a little more, when you add metallic colors, and variations like pastel, tints and stains. However, when you are looking to sell your home, the color scheme you choose is not about you at all – it is about potential buyers, and what they want to see. So, how do you get inside their heads? Well, there is a little coda to start with – you can’t please all of the people all of the time. Even if you paint a natural color like white, beige or tan, some people will be utterly repulsed by it. Even when you have painted freshly, some people will still come in and the first thing they say will be “Gosh, it’d be a great home if it only wasn’t painted such an awful color!”. Don’t worry about this – it’s natural. You will always be guided somewhat by your own tastes and preferences, but there are some ways to make sure, within those parameters, that you choose colors that will sit with the widest range of people. A good starting point is looking at your surroundings. Even if your neighbor’s houses are painted sunset orange with violent purple windowsills, don’t ignore them completely in picking your paint. Choose a more subtle version of gaudy colors (plum, or perhaps terracotta for highlights on a neutral background would be a good choice in this case), or try to choose complementary colors. Grab a color wheel (with the spectrum on it) from a paint or hardware shop, and look at painting a color that is close to either side of your neighbors’ colors, or on the opposite side of the wheel. Your surroundings are also important in terms of your landscaping and yard. If you have a lot of trees around your house, don’t paint it green. You’ll never get it a green that matches every tree, nor one that complements every tree. If you have flowering trees or shrubs in your yard (especially your front yard – the first impression is the most important!), consider using these as a basis for a highlight color. Choose the ones that are either most prevalent, or will be in season when you are selling. As you will know if you have ever painted a house, it can soon become an executive decision as to what you paint which color. Does the ceiling detail get painted the highlight color (it just takes so long!), or is it better off downplayed? What color should the air conditioner be? What about the downspouts? They are really part of the body of the house, they should be the highlight color, right? Well, you need to decide according to what sort of feature the item is. If it is artistic, highlight it. If it is purely practical, then don’t. As to the actual color … don’t be limited to the neutral palette. Sure, some people might be put off by your choice, but this will also be true whatever color you paint. Feature walls and modern, fashionably colored detailing can make an indelible first impression on the right buyer, that is worth more than all of the unease on some other potentials. Don’t go crazy, but don’t be afraid of color, either. Remember, just like in clothing, white (or light colors) seem to expand, where black and darker colors draw in. If you have a small house that you want to seem larger, go lighter. If your house is large and you want to make the yard more of a feature, go dark. Don’t forget, you can try before you buy … that is the beauty of paint, that it can always be painted over! Sample pots are often free, and you can bring your ideas out of the realm of imagination, into what your potential buyers will actually see. Above all, have fun! Regards, |

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