Prescott, AZ Real Estate

How is the market…REALLY?

Just about every day some ask’s “How is the market?”  Most agents say “Great, are you the market?”  Yes, we all want that next potential client to become ours, but being honest about the market is not always on the tip of our tongues.  Overall the market is good, but the sub-markets, the various price brackets can fluctuate quite a bit.

Right now smaller homes are selling faster than larger homes.  Over 4,000 square feet and those homes are sitting for a long time on the market, and they usually sell for less per square foot.  Homes around 1500-2500 square feet priced under $400,000 are the optimum for selling, and homes under $300,000 tend to sell the fastest.  BUT…and you knew there was a “but” hanging around, it all depends on the layout.  Single level homes are by far the most requested, as a large percentage of our buyers are retired or retiring and they don’t want stairs to climb.  Homes that need remodeling/upgrading will sell for much less than the neighbors fully remodeled, shows-like-new home.  So in the same neighborhood you can see sales of $110/square foot on the low end and $180/square foot on the high end.

 

The best tool you can have whether buying or selling is a great Realtor at your side.  They will look at the “comps”, the sold listings and active and advise you on if the hone you are buying or selling is priced right.  They will help you look at the differences between properties and see which ones affect the price more.  Is it better to buy the house with the perfect floors and granite counters but the dated layout, or the house with the great layout that needs new carpet and counters?  A great Realtor will guide you in the buying and selling process and get you the best deal…either way! So find a Realtor to help you, one you can feel comfortable with, and tell them everything–what you like, don’t like, what you are willing to do or not do.  Just thinking of remodeling or adding on?  Ask your Realtor FIRST!  they can help you make the right choices to enhance a sale down the road, and not cost you a sale because what seemed like a good idea to you at the time turns out to be what every buyer hates.  Money doesn’t really matter…unless it’s yours!  So call me to help you with those important decisions so more money stays in your pocket!

Posted on June 27, 2015 at 12:08 am by Lora Lopas

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