Blog Archives

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What is Your Home Worth?

You need to know what your home is really worth before you put it on the market. All the pictures, advertising and other marketing efforts will be useless if the price is not right. There are a number of free online web evaluation system such as Zillow.com (or streetscout.com here in Arizona), but nothing can […]

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Arizona Is Hot!

Yes summers can be hot here, but I’m talking about Arizona residential real estate, not the weather. Forbes analyzed over 2,000 cities and then focused on the 200 largest housing markets. Arizona cities ended up taking 8 of the top 25 spots on Forbes list of the hottest U.S. residential real estate markets.

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The Cost of Selling to Ibuyers, Part 2.

More info on iBuyers has become available. Typically they offer 90 to 96% of fair market value. They use their own contracts, NOT the seller friendly Arizona Assoc. of Realtors form, so you will lose many important rights . As a result they can demand seller repairs late in the game – sometimes only 3 […]

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Measuring Property Globally.

At present, the way real property – such as homes, offices or retail – are measured around the world varies dramatically. The IPMS Coalition, a group of more than 60 organizations from around the world, has created international property measurement standards to ease the confusion. The latest addition is a standard which establishes a common, […]

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The Cost of Selling to iBuyers.

Collateral Analytics analyzed quarterly median purchase prices for single-family homes in Phoenix bought by iBuyers and traditional buyers. The comparison quantifies the costs to sellers of working with iBuyers – such as Offerpad and Opendoor, versus listing with a real estate professional. The study estimates that sellers end up paying between 13% to 15% more […]

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Phoenix Real Estate Rocks!

May 2019 was a record-setting month for home sales in the Phoenix metro area. New all-time records were established for both sales volume and total dollar volume , as well as for the number of homes sold and the most money spent. The monthly median sales price set a record high reaching $278,000. That means […]

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The Seasonal Market.

Peak times for home contracts to be signed are the spring in the Phoenix metro area. In some cities there is another up tick in the late fall, but any sales increase after the summer is minor here. Low points for closed sales typically are in January and February – a reflection of low contract […]

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Don’t Make These Seller Mistakes.

Being Unrealistic about Value.Sellers overprice their homes 8% on average, This is due to the “endowment effect” – placing a value on things you own that is too high for the marketplace. See my blog Don’t be a Victim of the Endowment Effect, https://tinyurl.com/y2omxmzh for more on how to avoid this.Not Fixing Obvious defects. Buyers […]

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Get Home Buying Help, Part 3.

Get an Advocate. The most important advantage of real estate representation is having an advocate that puts your interests ahead of all others. A good agent can look at any given situation, give you advice and options, and then obtain the terms you need so you can move onto the next step. For example, requesting […]

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Get Home Buying Help, Part 2.

Get a Good Deal. When you don’t have an agent, finding the perfect home is a challenge. Agents see homes enter and leave the market every day – homes with diverse styles, prices, and neighborhoods. Agents are able to see when patterns emerge, and can tell you if a home is appropriately priced or over […]

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Get Home Buying Help.

Part 1 – Get What You Want. Shopping for a new home can be a daunting task. You may know exactly what you want or a good idea of what you’re looking for, but you still have to find it. That can mean countless hours of scouring listing after listing, poring over every minute detail […]

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Photos matter in Real Estate!

Photos are probably the most efficient home marketing tool. Visually appealing images will heighten the interest of a possible buyer and may determine whether that buyer decides to visit a property. Studies have shown that a viewer is more likely going to choose to visit a property after seeing well-made photos instead of a listing […]

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Don’t be a Victim of the Endowment Effect.

The Endowment Effect is the tendency of sellers to over value the things that they own. When combined with loss aversion instincts, the Endowment Effect can cripple the home sale process. An example of its impact was shown by an experiment where half of a group were given mugs. Those with mugs were asked by […]

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What Age Group Buys the Most Homes?

According to the NAR Profile of Home Buyers and Sellers, Millennials are the largest share of recent home buyers at 36%, with 65% of them being first-time buyers. Gen Xers are 26% of recent home buyers, with younger Baby Boomers coming in at 18%. Older Baby Boomers typically move the longest distance at a median […]

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Condo Sales Soar.

New condo sales in the Phoenix metro area were up 57% last year over 2016, setting a yearly record. Resales were also up 12%. This reflects the popularity of this style of housing choice and the affordability of condos – as increases in value of single family homes have priced many people out of that […]

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