Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

June 28, 2024

Top 4 Mistakes Home Sellers Make in a Buyer’s Market (and How to Avoid Them)

 

 

Top 4 Mistakes Home Sellers Make in a Buyer’s Market (and How to Avoid Them)

Are you selling your home in Surprise, Queen Creek, Maricopa, or Buckeye? Navigating the real estate market in these areas can be tricky, especially in a buyer’s market. As a seasoned realtor in the greater Phoenix area, I’ve seen many home sellers make common mistakes that can cost them time and money. In this blog post, I’ll guide you through these mistakes and show you how to avoid them, ensuring your home sells quickly and for the best possible price.

What is a Buyer’s Market?

A buyer's market occurs when there are more homes for sale than there are buyers. This imbalance leads to increased competition among sellers. Currently, according to the Cromford Market Index, Surprise, Queen Creek, Maricopa, and Buckeye are experiencing a buyer's market, making it essential for sellers to stand out.

1. Overpricing Your Home

 

Overpricing is one of the biggest mistakes you can make when selling your home. In a buyer's market, setting a competitive price is crucial. Studies show that homes priced too high often linger on the market, eventually selling for less after multiple price reductions. To attract buyers and sell quickly, start with a realistic, competitive price.

2. Neglecting Home Presentation

 

First impressions are everything in real estate. A poorly presented home can turn off potential buyers immediately. Make sure your home is clean, tidy, and neutrally decorated to appeal to a wide range of buyers. Pay attention to landscaping and consider professional cleaning services. A well-staged home allows buyers to envision themselves living there, which can lead to quicker sales.

3. Skimping on Professional Photos and Marketing

 

High-quality photos and effective marketing are non-negotiable, especially in a buyer’s market. Professional photography, including drone shots and twilight photos, can highlight your home's best features. Additionally, a comprehensive marketing strategy that includes social media, online ads, and print marketing can significantly increase your home's visibility. Choose a realtor with a strong marketing plan to ensure your home stands out.

4. Limiting Showings and Open Houses

 

Making your home accessible to potential buyers is vital. Limiting showings or not hosting open houses can cause your listing to go stale. Regular open houses attract not only serious buyers but also those who might not have considered buying a home until they see yours. Virtual open houses are also effective, but nothing beats the experience of seeing a home in person. The more accessible your home is, the more interest it will generate.

Conclusion

Selling a home in a buyer’s market requires careful strategy and attention to detail. Avoid overpricing, ensure your home is well-presented, invest in professional photography and robust marketing, and maximize showings and open houses. By following these tips, you can enhance your chances of a quick and profitable sale.

If you’re looking to sell your home in Surprise, Queen Creek, Maricopa, or Buckeye, and need expert guidance, I’m here to help. I’m Kasandra Chavez, a dedicated realtor in the greater Phoenix area. Contact me today for personalized real estate advice.

Posted in Selling your home
Sept. 18, 2023

The Ultimate Guide to Relocating to Phoenix's Northwest Valley

The allure of the Phoenix Northwest Valley is undeniable. Its rich tapestry of history, combined with the modern vibrancy, makes it a sought-after destination. And it's no wonder why relocation to this region is gaining such momentum.

Dive deep into the historical roots of the Northwest Valley, and you'll find tales of Native American civilizations and early settlers. From its origins as sprawling agricultural land, the region has transformed into bustling urban settlements, making it a beacon of change and progress.

Phoenix's Northwest Valley is more than just a geographic region; it's a collection of distinctive neighborhoods. Peoria, for instance, offers a harmonious blend of tranquil living and dazzling entertainment. In contrast, Glendale stands as a sanctuary for sports lovers and shopping enthusiasts. But it's the city of Surprise that encapsulates rapid growth with its family-centric atmosphere.

Yet, no discussion about this area is complete without mentioning its unique climate. The Sonoran Desert's climate is an intriguing mix of warm summers that beckon poolside lounging and mild winters perfect for alfresco dining. It's a climatic symphony that takes a while to get used to, but once acclimated, many find it enchanting.

Speaking of enchanting, the economic opportunities here are vast and varied. Whether you're diving into the leading industries or setting your entrepreneurial dreams into motion, the region offers robust support for all. With a diverse array of employers and a thriving local business scene, finding your niche is only a matter of time.

For potential settlers, the housing and real estate trends are always a pivotal concern. Fortunately, the Northwest Valley offers a range of housing options, with a market that's both dynamic and accessible. From sprawling estates to cozy apartments, there's a slice of home for everyone.

But what about the younger members of the family? The education system here is both comprehensive and commendable with many educational options. Numerous school districts cater to different needs, and the presence of higher education institutions ensures that learning never stops.

Yet, life in the Northwest Valley isn't all work and no play. The region is rich with recreational avenues. Nature enthusiasts can explore the many hiking trails, while those with a penchant for culture can indulge in museums, theaters, and art festivals. The Northwest Valley is a melting pot of experiences, waiting to be savored.

Mobility is the lifeblood of any urban space, and Phoenix's Northwest Valley is no different. With its intricate web of highways and transportation links, commuting is a breeze. And while public transportation continues to evolve, its future in the region looks promising.

Making Phoenix's Northwest Valley your home is more than just a relocation; it's an embrace of a vibrant culture and community. With its rich history, flourishing present, and promising future. So, are you ready to make the move?

Posted in Relocating to AZ
Sept. 11, 2023

Top Reasons to List Your Home in the Greater Phoenix Area This Fall

Are you considering selling your home in the Greater Phoenix Area? Fall is a fantastic time to make your move! Here are just a few reasons why! 


1. Limited Inventory:
One of the key benefits of listing your home this fall is the limited inventory in the Greater Phoenix Area. With fewer homes available for sale, your property will stand out and attract more attention from motivated buyers. This increased demand can potentially lead to quicker sales and even multiple offers, maximizing your selling potential.

2. Motivated Buyers:
Fall tends to attract serious buyers who are eager to settle into their new homes before the holiday season begins. These motivated buyers are often driven by specific timelines or life events, such as job relocations or changes in family circumstances. By listing your home now, you can tap into this pool of ready-to-act buyers and increase your chances of a successful sale.

3. Favorable Market Conditions:
The current real estate market in the Greater Phoenix Area is favorable for sellers. Home values continue to trend upward, creating an opportunity for you to capitalize on your investment and potentially secure a higher sale price. 

4. Pleasant Weather:
The mild fall weather in the Greater Phoenix Area makes it an ideal time for buyers to explore properties without extreme heat or cold temperatures hindering their search. With comfortable weather conditions, potential buyers will be more inclined to attend open houses and viewings, increasing foot traffic to your listed home.

5. Showcase Seasonal Appeal:
Fall provides a unique opportunity to showcase the beauty of your home's exterior and create a warm, inviting ambiance. The vibrant colors of autumn foliage can enhance your curb appeal, while seasonal decorations can make your home feel cozy and welcoming. Take advantage of this chance to highlight the charm of your property and leave a lasting impression on potential buyers.

Listing your home in the Greater Phoenix Area this fall presents a range of advantages. Limited inventory, motivated buyers, favorable market conditions, pleasant weather, and the opportunity to showcase seasonal appeal are all factors that can work in your favor. To make the most of these conditions and ensure a successful sale, partnering with an experienced real estate agent who understands the local market dynamics is crucial.

If you're ready to take advantage of the current market conditions and maximize your selling potential this fall, let's chat! We have the expertise and resources to guide you through every step of the selling process. Don't wait—get started today!

Posted in Selling your home
Sept. 9, 2023

15 Pro Tips for Maximizing Home Value in the Fall Real Estate Market

Are you considering selling your home this fall? As the leaves turn and the weather cools, you might wonder if fall is a good time for a home sale. The answer is yes, especially if you're armed with the right real estate tips and strategies to make your home stand out in the seasonal market. Here are 15 invaluable tips to prepare you for a successful fall home selling experience.

1. Home Staging Ideas for Fall

Staging your home can significantly impact its appeal. Fall-themed décor can make potential buyers feel like your home is already theirs. Adding seasonal touches helps in attracting buyers looking for a cozy, inviting space.

2. Deep Cleaning for a Sparkling First Impression

One of the essential tips in preparing for a home sale is to make sure your home is clean. First impressions matter, especially when you're trying to convince buyers to make one of the biggest investments of their lives.

3. Boost Your Curb Appeal: Fall Selling Strategies

A well-maintained lawn and freshly raked leaves add to your home's curb appeal. A beautiful exterior is the first thing buyers notice, making it a key factor in the fall real estate market.

4. Declutter Your Space

When selling your home, less is more. A clutter-free environment allows potential buyers to envision their belongings and lifestyle in your space, aiding in maximizing home value.

5. Neutral is the New Black

Picking neutral colors for your walls and décor can be transformative. It creates a blank canvas that can help buyers visualize their dream home.

6. Invest in Professional Photography

High-quality photos make your online listings pop. In today's digital age, online presence is crucial for attracting buyers and negotiating offers successfully.

7. Highlight Unique Features

Whether it's a fireplace or a state-of-the-art kitchen, showcasing the unique features of your home can set it apart from the competition, leading to successful negotiating offers and closing the deal.

8. Identify Essential Repairs

Before listing, consult a realtor to identify what repairs are necessary. This step is crucial for maximizing home value and attracting serious buyers.

9. Consider a Pre-listing Appraisal

Knowing the worth of your home can significantly impact how you price it, making a pre-listing appraisal an invaluable tool in pricing your home right.

10. Price it Right from the Start

Strategically pricing your home is one of the most critical real estate tips for a quick and profitable sale. An experienced realtor can provide invaluable advice in this area.

11. A Fresh Scent Makes a Difference

A Neutralize any strong odors like pets or smoke and consider using lightly scented candles or an essential oil diffuser with welcoming scents like lavender or vanilla.

12. Be Flexible with Home Showings

The easier you make it for potential buyers to view your home, the quicker you'll close the deal. Being flexible with home showings can be one of your best fall selling strategies.

13. Energy-efficient Upgrades

Installing energy-efficient upgrades not only makes your home more attractive to younger, environmentally conscious buyers but also adds value to your property.

14. Organized Storage Space Sells

An organized home, particularly in terms of storage, is incredibly appealing to potential buyers. This small but impactful tip can contribute to maximizing home value.

15. Hire a Realtor with a Strong Marketing Plan

Last but not least, consider hiring a real estate advisor with a solid marketing plan. A good marketing plan can make all the difference when it comes to getting eyeballs on your property and closing the deal.

When it comes to selling your home, each season has its unique advantages. But with the right preparation and strategy, fall can be an excellent time for a home sale. By applying these tips and working with a qualified real estate agent, you're well on your way to attracting buyers, negotiating offers effectively, and closing the deal this fall.

Posted in Selling your home
May 18, 2023

Thinking about new construction? Keep these 3 things in mind.

New construction homes are a great option in a low inventory market. Here are 3 things to keep in mind before you step into that model home. The most important thing is making sure you have a trusted Real Estate advisor by your side and looking out for your best interest. 

May 17, 2023

Today's home purchase is a stepping stone to the dream home!

 

Wanting to buy a home in a competitive and fast moving market can be discouraging. Especially when inventory and options are low. But did you know that the average America will purchase 3 homes in their lifetime? I recently read a an article that said it's more like 5-7 times. Although it may be hard to foresee how many homes you will purchase in your lifetime, remember that homeownership leads to increased wealth. Each home purchase is a stepping stone to increased wealth and ultimately being able to purchase the home of your dreams. 

Posted in Shorts
March 31, 2023

What is happening in your zip code

Posted in Market Update
March 21, 2023

COST OF LIVING IN THE GREATER PHOENIX AREA

 

With inflation in home prices, gasoline and the cost of eggs (Oh the cost of eggs!), have you wondered how the cost of living in Phoenix compares to other major cities in the US? GPEC which stands for the Greater Phoenix Economic Council, works on actively seeking out quality businesses to draw them to the Greater Phoenix area so that we can be a great place to live and work. A competitive city when it comes to high paying jobs and one with a diverse economic infrastructure. They are the reason the tech companies like the Taiwan Semi-Conductor Plant is being built. Their job is to tell major corporations both nationally and internationally, why the Greater Phoenix area is the place they want to be.

Last month, they published their "The Greater Phoenix Tech Story".  Here is a cost of living chart to show how the Greater Phoenix area compares to other major cities that are high in the tech industry. I was surprised to see that Greater Phoenix is under the national average when it came to goods, services and groceries (even with the high price of eggs).😂 Overall, I think this shows that Greater Phoenix is a great place to live!  To get the full story published by GPEC, make sure to click on the link above. 

Posted in Market Update
March 20, 2023

ACCESSORY DWELLING UNITS (ADU'S) What are they and why is local government control over building permits for ADU's in question?

ADU's or accessory dwelling units, is the term used for an additional dwelling on a property, separate from the primary residence that provides independent living facilities. Very much like an apartment. Currently, the local government has control over the approval of building permits of ADU's and more restrictive than that, the local HOA has control over what is allowable in their specific communities. 
But why are most major cities in the US talking about and trying to pass legislation to take controls away from the local governments concerning ADU's?

Well, the short answer to that is affordability and availability of housing, or at least that is what  they are saying at this time. With limited supply of housing and decrease in affordability due to higher home prices and interest rates, affordable housing in most major cities is a problem many are trying to remedy. 

Recently, Senate Bill 1117 failed the Senate vote. This bill address several types of housing controls that are currently regulated locally and proposed taking those controls away from the local governing authority. One of those controls was specific to ADU's. It included dethatched ADU's but would also include attached ADU's. From what I can gather that would include the Nextgen homes and the mother-in-law suites that are being built in many of the new construction homes today. 

Sounds like a great idea right? Imagine being able to build an additional dwelling space or casita to rent for some passive income and not have to go through your local HOA  or struggle with changing the zoning ordinance that determines how many dwelling units you can have per square foot.  Although it sounds good, it could have opened the door for higher taxes, and red tape. The bill, if passed would have required that the home owner register the home as such and required the primary home owner to have a rental lease in place. I am sure higher taxes and more regulations on the individual home owner could easily follow should something like this get passed. 

Now, the bill did say that it would only require a lease if someone other than the owner occupied it. Hmm. That brought so many questions to mind...  I wonder how they would verify those things? The bill would have also removed structural height requirements and density restriction on lots and neighborhoods.

So, that neighbor you have that is on an acre lot, could build a 2 story triplex on their lot that changes the overall look and feel of the neighborhood and the whole reason why you chose to live where you do.

Is this a good thing? A bad thing? I am sure we all have our own opinions on this. As for me, I have to say I am glad that this one didn't pass. I am sure there will be some revisions and another attempt to pass something like this in the near future. 

March 16, 2023

OUTLOOK FOR BUYER AFFORDABILITY AS PHX HOUSING MARKET HEATS UP

This one is for the buyers! Hard not to focus on the buyers when home values are trending up. We love our sellers and buyers alike. But, in 2021 & 2022, it definitely caused heartburn and heartache as we saw our buyers quickly priced out of the neighborhoods and some even got priced out of the market.

I felt the heartburn all over again as I was studying the market this week and diving into particular neighborhoods.

If you are an aspiring homeowner, NOW is the time. Buy what you can afford.

Not sure where to start? 📲📲☎️😊

Posted in Market Update