Read a good book? Hear of new road construction starting? Witness vandalism? Have a family member in the military who would appreciate a letter? Share your thoughts with residents in the neighborhood... POST IT HERE!! **Please keep your comments clean and appropriate for readers of various age groups. All messages and comments are read and approved before posting. |
-
The Truth about Tramonto Home ValuesPosted on: 2011-10-16I've been closely watching the housing values of the area to see how it compares to the national stats as well as our valleywide stats. Since Phoenix is extremely subdivision oriented, each community has it's own unique qualities and value driven indicators.
Tramonto grew during the height of the economic boom and therefore took a massive hit initially. The decline will appear to be more than in other areas simply because the values were ballooned to a level they were never meant to be, due to the fact the community was built at the height of the boom. The neighborhood has been resetting itself since 2009 as more and more original homeowners have sold their homes through short sale, trustee sale (foreclosure) and even some traditional sales!
As we've seen the neighborhood turn over with new neighbors, the values have held steady for three years now. Below are links to annual sales summaries from 2003 through October 15, 2011. You'll notice the Average Dollar per Sq Ft of homes sold from 2009 to 2011 remains tight in comparison to the large dips seen from 2006 to 2009 - when the bubble burst!
* 2011 - $84/sq ft.
* 2010 - $87/sq ft
* 2009 - $87/sq ft
* 2008 - $117/sq ft
* 2007 - $159/sq ft
* 2006 - $177/sq ft
* 2005 - $163/sq ft
* 2004 - $123/sq ft
* 2003 - $105/sq ft
Keep in mind that these are homes in Tramonto that were sold through the MLS, these do NOT include trustee sales. The MLS is a good representation of how values are doing. They DO include investor purchased properties at trustee sales, where they cleaned up the home and often enhanced the features and resold it as a move-in ready, upgraded home.
Look closely at the Dollar Per Sq Ft, what do you see? You can see exactly when the 'Bubble' happened and when it burst. The true value of your home is where they started back in 2003, approximately $100 per square foot. The fake value ballooned and burst and the economy fell. As the country recovers, you can expect a realistic value of your home to be about $100/sq ft in the next 5-10 years.
*** I can provide you a with a custom value assessment of your builder. Just send an email request or call me. ***.
We live in a new, thriving area. Location is on our side. With the addition of the W.L. Gore campus, we will undoubtedly continue to see positive growth immediately. I am already working with employees looking in the area who are being relocated from other states to work at the new location which I've been told will initially employ over 800 people. Guess where they want to live? You got it, close to work!
I've also had an increased number of Canadian buyers looking in this area. We have the perfect location: beautiful Sonoran Desert hiking trails, new shopping and dining, and easy access to downtown Phoenix for sporting events or nearby golf courses .
Feel good about our growing, magnificent community! Now we just need a Whole Foods or Trader Joes!
Each builder within Tramonto has varying value analysis, so if you have a question about your specific home value or builder, just let me know.
As always, call me with questions. I'm here to help!
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Website:www.PhoenixPropertyValues.com - 8 Ways Vino 100 Wine Bar in Phoenix Could Help You Survive a Zombie OutbreakPosted on: 2011-09-09
8 Ways Vino 100 Wine Bar in Phoenix Could Help You Survive a Zombie Outbreak
1) Where else would you rather be during a zombie outbreak?
Value (2)
You’ll be able to stick it out with affordable wines. If you live in the North Phoenix- North Scottsdale area and you like to drink wine, then you must experience the Vino 100 Wine Shop. Located in the Tuscany Village Center next to Tatum Ranch Community, this lovely little wine bar and shop whose claim to fame is “100 great wines for $25 or less” truly is “a new way to buy wine simply based on flavor and body.”
My husband and I love to learn about wine and certainly enjoy drinking it. We’ve visited many wineries and attended wine seminars around the world on cruises and at Four Seasons Resorts. We were even married at Ponte Winery & Estate in Temecula, CA! Our friends and family still rave about how much fun that was. Wine Education and Personality (3,4)
Why not learn something while you’re there? What we love about Vino 100 is that this charming little wine bar/wine shop is personable and inviting. The owners and employees make the wine buying experience as enjoyable as drinking it. They pride themselves on their casual, comfortable approach in assisting their customers in selecting a wine that’s right for your pallet. You will not find snobby, intimidating people here! They have built a following of local wine lovers who get together for wine dinners, tastings or entertainment at Vino 100.
Community and Live Entertainment (5,6)
They care about you and want to hang out with you. Their philanthropic attitude engages them in the community. You will see them hosting chamber events and involved in various charitable activities. They support local business owners and you will find a local Chef preparing an outstanding dinner or pairings for one of their events. Vino 100 is your neighborhood wine bar where you can sit and chat with friends, meet new friends and learn about wine in a cozy, fun atmosphere. You can often catch live music on Friday or Saturday nights from local musicians such as Dan Emrey.
Local Wine Club and Wine Tastings (7,8)
Join the Vino 100 wine club for all kinds of goodies and benefits, stop in for a wine tasting and meet new friends today! By the way, they introduced me to my new wine obsession, the Petite Petit by Michael David Winery.
Support local business owners. Every one hundred dollars spent at a locally owned business keeps $73 in the community versus $43 if spent at big box or chains (Thank you Local First and LocalLily). Supporting local businesses and agriculture enriches our individual neighborhoods, greater communities.* In no way, shape or form does Kelli Grant or this blog meant to convey that I condone under age drinking of alcholic beverages or an overconsumption of any kind.
Featured Tatum Ranch Family Home For Sale
www.SonoranFoothillsCommunity.com
- When will I qualify for a mortgage after a short sale or foreclosure?Posted on: 2011-07-20
When will I qualify for a mortgage after a short sale or foreclosure?
Many clients who have gone through a short sale or foreclosure after 2007 are now asking me the question, “When will I qualify for a mortgage?” Housing is once again affordable and people want to take advantage of rock bottom deals. Prices in Phoenix, Arizona are hovering around the bottom. You can see from this chart that there haven’t been any drastic plunges or spikes over the past 9-12 mths as shown in previous years. Now is the time to buy a house and become a homeowner once again.
Another reason people are asking if they qualify to purchase a home again is because the FHA loan limits are said to be dropping significantly October 1, 2011. That means the buying power in the 3.5% down payment price range is much lower. In Maricopa County Arizona, the loan limit is currently $346,250. As of October 1st, it will be $271,050. That’s a decrease of $75,200 in buying power! Learn more about FHA Loan Limits.
Others questioning, 'When will I qualify for a mortgage?' are homeowners who elected to do a strategic default because the equity is so upside down. These homeowners are hundreds of thousands upside down in a property and are well aware that the value will never rebound in their lifetime to what they originally paid, so they cut their losses short. They are now looking to invest in properties. Interest rates are low, prices are at bottom and there are several opportunities to fix up a foreclosed house and flip it - or buy and hold it to take advantage of the booming rental market.
Finally, the answer to the question: When will I qualify for a mortgage after a short sale or foreclosure?
The Waiting Period to Qualify for a Home Mortgage after a Short Sale, Foreclosure or Bankruptcy
* JUMBO waiting periods vary by lender
* Waiting period time frames may be less in situations with extenuating circumstance
*For LTV’s greater than 80% ‐ mortgage insurance guidelines may differ
Call Kelli Grant to set up your custom web portal of MLS listings that match the property criteria, location and price range you’re interested in researching. You’ll receive notification emails up to once a day when there are price changes or new listings to see. Call Mark Taylor for your free loan consultation about which loan programs best suit your needs. Kelli Grant specializes in short sales, pre-foreclosure options such as the HAFAprogram, and strategic default options in the cities of Phoenix, Scottsdale, Cave Creek, Anthem, Glendale, and Peoria. Kelli Grant is the neighborhood specialist for Sonoran Foothills and Tramonto. If you need to speak to a reputable, reliable real estate attorney or CPA about the legal and tax consequences of a short sale or strategic default, contact Kelli Grant.
- Dixileta Rd Has Cops Giving TicketsPosted on: 2011-07-08They closed the road over a month ago and waited until people started getting brave enough (and late for an appointment) to take the road anyway. This morning, they were handing out $176 tickets to every vehicle who turned onto the road to get to I-17....even the landscaping trucks that were going to the dump. Someone reportedly saw 3 landscaping trucks issued tickets. A cop told someone that you can access the dump ONLY from I-17 (how convenient). He also said that they are not enforcing the 'Do Not Enter' signs from I-17 to the parkway because the signage is past the dump. How very interesting. Isn't this a private road?
Thoughts??
http://sonorancitizens.com/2011/05/03/alert-friday-may-6-dixileta-road-will-be-closed-to-public-indefinitely/ -
Sonoran Boulevard Construction PausedPosted on: 2011-06-20Sonoran Boulevard was discussed at length (for about 80 minutes) at the recent City of Phoenix Council session.
After hearing from many residents, including SCIA President Clif Freedman and Vice President Bryan Cazier, District 2 City Councilman Bryan Jeffries made a motion to pause construction on the section of Sonoran Boulevard east of Sonoran Foothills and west of where current maps show Sonoran Boulevard and Sonoran Desert Drive intersecting. The reason for the pause is so that the matter can be arbitrated.
The motion was seconded and approved in a 7 to 1 vote. Councilman Michael Johnson (who was a member of Peggy Neely’s Mayoral Exploratory Committee) was the only one who opposed to the plan to pause construction while the matter is arbitrated. Over the next few weeks, parties will meet with an experienced arbitrator, David C. Tierney, who has offered to work pro-bono to help resolve the issue.
The plan is to have representatives from, but not limited to, the following stakeholders involved in the arbitration:
Carefree Crossings HOA
Sonoran Foothills HOA
Amber Hills HOA
Sonoran Citizens Improvement Association
MAG (Maricopa Association of Governments)
Phoenix Mountain Preserve
North Gateway Village Representatives
Westcor
Gore
The City of Phoenix
Website:sonorancitizens.com/ -
Sonoran Foothills Residents Give Back to the CommunityPosted on: 2010-12-22Sonoran Foothills Residents Give Back to the Community
2010 Holiday Food & Toy Drives
Thank you to the residents of Sonoran Foothills who have been so generous in their contributions to this year’s food and toy drives!!
F O OD D R I V E T O B E N E F I T
St Mary’s Food Bank Alliance
We filled five of the large food drive boxes – each box holds approximately 300 pounds of food. Desert Springs gets bragging rights for donating the largest amount of food based on weight followed closely by Desert Vista and Desert Crest. The food was picked up by St. Mary’s Alliance Food Bank truck on Tuesday, December 21, 2010.
TOY D R I V E T O B E N E F I T
Salvation Army’s Project Hope
Staff from the Salvation Army’s Project Hope picked up two large boxes that Residents filled with a myriad of toys to be given to children served by Project Hope. Many of the children come to the Program with little more than the clothes on their back. Toys such as the ones donated should bring some joy into the lives of these children.
-
FROM YOUR FRIENDS AT NORTERRA FAMILY MEDICINE!Posted on: 2010-12-15The Physicians and Staff at Norterra Family Medicine want to wish you and yours a very safe, healthy and happy holiday season!
Some helpful hints for staying healthy include taking a break just for yourself, even if it is only 10 minutes and Just Breathe! The STRESS of the Holiday Season can take its toll. Make sure you have received your flu shot, drink plenty of water and get some exercise. It is not critical that you sample every Goodie! They’ll be available all year round. And remember to Love, Laugh and Live!
LAST CALL FOR FLU SHOTS!!
Did you know that you can be an influenza carrier and give it to others without getting ill yourself? We recommend a flu shot to protect yourself and your family. Did you know that in Arizona our Flu season can stretch into March? We still have plenty of flu vaccine available. Schedule your appointment today!
CONGRATULATIONS!
Dr. Kristine Sarna has completed her Board Certification in Integrative Holistic Medicine! She can offer more natural options for healing and preventing illness. Holistic and Integrative Medicine is the wave of the future in health care. We are so proud of Dr. Sarna for this amazing accomplishment!
Make a resolution this New Year to make 2011 a Healthy and Happy year!
Call our office to schedule your appointment today! 623.565.5060
BE WELL!
The Norterra Family Medicine Staff
Website:norterrafamilymedicine.com/ -
Holiday Season Crime PreventionPosted on: 2010-12-14By Officer Tim Mitten, Community Action Officer
Phoenix Police Department, Black Mountain Precinct
Once again the holiday season is fast approaching. The weather has turned nice and we are emerging from our summer hibernation and the scorching heat to enjoy one of the main reasons why we all love this part of the country. This month, with the recent passing of the Halloween holiday leads us into the busy holiday season, a time for friends and family but also a time for crime to occur and people to be taken advantage of. I want to take a few moments to go over some crime prevention and safety awareness reminders.
1. When walking to and from stores, mall, etc keep your head up and be aware of your surroundings, Walk with a purpose, do not divert your attention by texting or talking on the phone, digging for car keys or be burdened with too many bags or packages.
2. If you get lost or do not remember where you parked your car, return to the store and ask for assistance from a security officer or store employee. Do not wander around looking lost; you can be targeted as a victim. If someone you don’t know is on or near your car, do not approach it, walk back to where you came from and call police or security. When you do get to your car, look around it and inside before you get in to make sure no one is around or in it.
3. Park in a well lit area, do not park in dark or far away places. I know it is difficult to find good parking, but do the best you can. If you go in at daylight hours and think you might be inside until it is dark, park as if it were dark.
4. Roll the windows on your car all the way up and LOCK your car. Do not leave valuables, packages, etc in plain view inside the car; put them all in the trunk.
5. Do not keep large amounts of cash with you or display cash when shopping. Take with you only what you need for the day. Be on guard while at ATM’s.
6. Keep a constant eye on your children. ALWAYS know where they are and keep them in sight. Children are easily distracted by the decorations and excitement of the holidays and may wander off in only a couple seconds.
7. Do not drink and drive, please use a designated driver or call a taxi. This time of the year many people have holiday functions from work or family and drink when they usually don’t and make a bad decision and drive. Please enjoy the season but drive responsibly and patiently. Everyone has a lot to do and if we can exercise patience on the roadways we can reduce accidents.
I also want to take this opportunity to express from myself and other officers here at the Phoenix Police Department our gratitude. We suffered another loss of one of our fellow officers last month and the support from the community has be seen and heard and it is not forgotten or ignored. Everyday we all look forward to serving our community to the best of our abilities and we desire to do it with you as our partners in the community. We are here for you and are with you in trying to keep Phoenix safe and enjoy a good quality of life in our neighborhoods.
I can be reached at 602-495-5238 or at tim.mitten@phoenix.gov if you have any questions or concerns in your community. I look forward to continuing to serve you as we continue to make the City of Phoenix a great place to call home. Happy Holidays!
Email:tim.mitten@phoenix.gov - Why Have a Lawyer Prepare your Will?Posted on: 2010-09-21Everyone understands the need and benefit of having a Will. A Will ensures that, upon your death, your estate is distributed to the beneficiaries you choose in accordance with your wishes. You name the person that you want to be responsible for making that distribution. Even more important for young parents, you name the Guardian for your minor children should something tragic happen to both parents while the children are still minors. However, preparation of a Will is not required, and so many people put off the preparation. Sadly many pass on intestate (without a Will), leaving it up to state law and the courts to determine how their estates should be resolved after their deaths.
In order to save on the costs of Will preparation, some people turn to “Will Forms” they purchase in office supply stores. Others use online companies that allow them “to fill in the blanks” after which the company sends you a very “legal” looking document, suitable for framing. In most cases these Wills are valid and Will be admitted to probate in most states. (That means they will be accepted as legally valid). The problem is that these forms do not allow the client to ask the questions that need to be answered in order to ensure that the Will accurately addresses the concerns and intentions of the client. An integral part of the Will preparation process is the discussion between the attorney and the client wherein the lawyer can explain the legal significance of the terms utilized in the Will.
For example, if you leave money or property to a good friend, other than a spouse or child, there likely will be taxes that have to be paid to the state. Is the client’s intention that those taxes be paid by the friend out of his bequest, or does the client prefer that the taxes be paid out of the residuary estate? Does the client understand what the responsibilities of a personal representative are, and can the representative be a person that is a beneficiary under the Will? What if one of the beneficiaries predeceases the client, should that share go to the beneficiary’s children, or should it lapse and be split among the other beneficiaries? These are just some of the questions that a person executing a Will may have. A client may know how they want their property divided, but they may know what an anti-lapse statute means, or the difference between per capita and per stirpes distribution. A lawyer will be able to explain these and many other points to the client.
Another issue with using forms is that if the Will is not properly executed, it may not be valid. There are many cases throughout the country every year where Wills are not accepted as valid because they were not signed and executed properly. Upon your death, a properly drafted and executed Will controls the disposition of all of the assets that you accumulate during your lifetime. Whether you are a millionaire or a person of modest means, you want those assets to go to those that you believe to have them. Most attorneys charge a very reasonable fee for the preparation of a Will. Make sure that your will is prepared in consultation with an attorney!Website:anthemlawfirm.comEmail:Jim@AnthemLawFirm.com - Stop the Dolphin Slaughter!Posted on: 2010-08-31
-
Just Listed in Case You Know Someone LookingPosted on: 2010-08-24$199,000
61st Ave/Pinnacle Peak
2114 in Pinnacle Hill
Move in ready modern home with plenty of upgrades perfect for entertaining. See docs tab with all upgrades! Black Granite counters, new tile throughout, garage cabinets. Luscious backyard includes built in BBQ, pool has new tile (summer '10), new A/C motor, pics tell all. Must see. Surrounded by mountain views all around, walking paths and park across street. GCC North campus 5 min drive. Short Sale by experienced short sale specialist.Website:link.flexmls.com/rkrhkr2c2pn,12 -
5 Reasons to Use a Licensed Realtor When Buying PropertyPosted on: 2008-11-061) Our services are free to you. Buyers do not pay ANY commissions.
2) Today’s realtor knows how to efficiently search properties online that meet your criteria, desires and needs foregoing long days and weeks driving around in the car looking at unnecessary properties. We search properties daily, so we can find them much quicker knowing which codes and criteria to enter in the MLS narrowing the potential list of “go sees”. AND, a good realtor will preview the selected properties before taking you out, eliminating potentially wasted time for you.
3) The negotiation of the property is our expertise. You need a third party, unattached and knowledgeable professional to keep you from making poor buying decisions for a purchase worth hundreds of thousands of dollars. You may be emotional and may want to make any offer possible to get the property you fell in love with at first site.
We know how to strategically structure an attractive offer to the seller through a fair price, appliances, home warranties, closing cost contribution, etc. With that in mind, we also know how to get you the best possible price. The realtor knows how to accurately assess the neighborhood’s current market value the property is located in to strategically create the right offer.
4) Beyond the negotiation process is the actual transaction. The realtor knows the real estate laws, rules and regulations which will guide you through the transaction. We handle all the paperwork and track time periods so that nothing falls through the cracks. We know when to order a home and termite inspection, what kinds of additional addenda are required, and what additional legal rights YOU have. For example, what’s on the buyer advisory, the value of a home warranty, explaining the Seller Property Disclosure Statement and what to be aware of, explaining what terms like “Superfund or WQARF” are and what they mean to you…etc.
There are also other valuable things your realtor can point out. For example, you have allergic reactions to scorpion bites, and the particular community you are interested in has an abundance of scorpions throughout the area.
5) The entire team that comes with your realtor will all watch out for your best interests. They’re qualified and trustworthy professionals that work with your realtor every day. For instance, a quality home/termite inspector that won’t do a poor job on the inspection that would later come back to haunt you; a reliable mortgage broker that will guide you to the right mortgage program that meets your specific needs so you don’t end up finding a loan officer out to make a quick buck who over approves you, setting you up for a foreclosure in 2 years; an efficient and knowledgeable escrow officer that will guide you through that stack of paperwork your signing at the title company.
Why would you spend hundreds of thousands of dollars, most likely the biggest purchase you’ll make in your life, without using a licensed professional? Would you walk into a trial hearing without an attorney representing you? -
How To Drive in Phoenix, ArizonaPosted on: 2008-08-121. 'Phoenix' actually consists of Scottsdale, Chandler, Anthem, Paradise Valley, Maryvale, Ahwatukee, Gold Canyon, Tempe, Mesa, Gilbert, Glendale, Peoria, Tolleson, Avondale, Goodyear, Litchfield Park, Sun City, Sun City West, Sun Lakes, Surprise, and half of the Mexican border.
2. The morning rush hour is from 5:00 am to noon. The evening rush hour is from noon to 9:00 pm. Friday's rush hour starts on Thursday morning.
3. The minimum acceptable speed on most freeways is 85 mph. On Loop 101, your speed is expected to match the highway number. Anything less is considered 'Wussy'.
4. Forget the traffic rules you learned elsewhere. Phoenix has its own version of traffic rules. For example, cars/trucks with the loudest mufflers go first at a four-way stop; the trucks with the biggest tires go second. However, in the East Valley, SUV-driving, cell phone-talking moms ALWAYS have the right of way.
5. If you actually stop at a yellow light, you will be rear ended.
6. Never honk at anyone. Ever. Seriously. It's an offense that can get you shot.
7. Road construction is permanent in Phoenix. Detour barrels are moved around for your entertainment pleasure during the middle of the night to make the next day's driving a bit more exciting.
8. Watch carefully for road hazards such as drunks, dogs, barrels, cones, cats, mattresses, shredded tires, rabbits, vultures, javelinas, roadrunners, and the coyotes feeding on any of these items.
9. Maricopa Freeway, Papago Freeway and the 'I-10' are the same road. SR202 is the same road as The Red Mountain FWY. Dunlap and Olive are the same street too. Jefferson becomes Washington, but they are not the same street. I-17 is also called The Black Canyon Freeway as well as The Veterans Memorial Highway. The SR51 has recently been renamed to Piestewa Freeway because Squaw Peak Parkway was too easy to pronounce. SR101 is also the Pima FWY except west of I-17, which is also The Black Canyon FWY, and The Veterans Memorial HWY. Lastly, Thunderbird Rd. becomes Cactus Rd. -- but, Cactus Rd. doesn't become Thunderbird Rd. because it dead ends at a mountain.
10. If someone actually has their turn signal on, wave them to the shoulder immediately to let them know it has been 'accidentally activated.'
11. If you are in the left lane and only driving 70 in a 55-65 mph zone, you are considered a road hazard and will be 'flipped off' accordingly. If you return the flip, you'll be shot.
12. For summer driving, it is advisable to wear potholders on your hands.
13. Please note that there are many, MANY more issues to the phenomenon of driving in Phoenix -- like the 4-cars-through-a-red-light rule -- but these will at least get you acquainted with our unique life on the road. -
How to Price Your House to Sell in Today’s MarketPosted on: 2008-07-30This market is unlike what many realtors who have only been in the business a few years have experienced and has been forgotten by those who have sold real estate for over ten years.
Accurate Comparative Market Analysis. Be sure you/your realtor researches the neighborhood comps accurately. The pending contracts are key to you as a new listing on the market. In a declining market, you MUST be ahead of the activity. This is why pending sales tell us such important information, such as what homes must be listed at to attract potential buyers. They have more current data than the properties that sold a few months ago and are more relevant than the active listings sitting on the market.
Pay close attention to the square footage of the homes under contract in the neighborhood. What is the average dollar per sq foot of those homes? How long was each of the properties with pending contracts on the market?
How quickly do you want to sell? Compare the list price and days on market of the pending sales. Does your home fit into the same sq foot range? If not, how long has it been since a home of your size has sold? For instance, your house is1100 sq ft and the ones that are under contract are all between 1500 and 3000 sq ft.
The active listings are important as well. How many are on the market within your size of home? What is their condition compared to yours? How many short sales and foreclosures are coming up? An abundant amount of upcoming short sales and foreclosures will only decrease the value of your home. Therefore, your home should be priced on the aggressive side to get it sold quicker at a higher price.
Foreclosures and short sales matter. Many clients tell me that those houses don’t count because “their” house is in good condition. Unfortunately, they do count. In most cases, appraisers work for the lenders. They are appraising the value of the home to protect the lender’s asset.
Abundant inventory and upcoming short sales and foreclosures are a factor in the appraisal. Therefore, if you price your home too high because it’s in “mint” condition, and you’ve received an offer (so you’ve had it off the market for about 2-3 weeks as PENDING) and the appraisal doesn’t come in at purchase price, you’ve just wasted another 3 weeks off the market in which the cumulative days on market has increased during that time. YES, it’s true.
What about cash buyers? If you have enough cash to buy a house without a mortgage, I have one question for you. Put yourself in the buyer’s shoes, would you pay more than the appraised value for a property even if you had cash? Probably not, that’s why you have enough cash to buy a property outright.
Price Reductions should be appropriate. If you’ve had more than 10-15 showings in the first 30 days and no offers, a price adjustment is probably necessary. I’m not referring to a few hundred dollars or a couple thousand dollars –this is referred to as ‘chasing the market’ and you will always be one step behind. Talk this over with your realtor and look at the facts. The numbers don’t lie. No one’s “opinion” matters here. If the market won’t accept your asking price or even make an offer, it might not be fair but it is reality. Remember, your house is only worth as much as a buyer is willing to pay for it. How many homes went from Active listings to Pending contracts since you listed? Why did you miss those buyers?
Consider signing a Price Reduction form for your realtor in advance. Your realtor will not reduce the price without consulting you first and mutually agreeing on a new price. If you suspect he/she would, then why did you hire a non-trustworthy realtor to handle the most expensive asset you own?
No Reduced Price Signs! This is a classic and common error on behalf of realtors around the globe. You get stressed out and then your realtor gets stressed out and panics. He/she puts out the PRICE REDUCED sign rider and plasters it all over the MLS and marketing material. This has only informed the public that your house has something wrong with it and won’t sell. Take a proactive approach…..look at the comps again and I bet that price reduction is in order.
Remember, full time licensed realtors sell homes every month whereas you may only sell a few throughout your lifetime. They are trained and educated in the legal requirements and will protect you and the most expensive asset you own. “Home sellers who use a real estate professional can expect to sell their homes for 16% more, on average, than sellers who try to do it themselves.”-- 2005 National Association of REALTORS® Profile of Home Buyers and Sellers
I suggest interviewing three realtors before making your choice.
Upcoming topics:
• Ten questions to ask prospective listing agents
• Home & Design: What’s In and What’s Out
• 10 Tax Changes for 2008
Website:www.PhoenixHomesForLife.com
