The Arizona housing market continues to look sluggish but there does appear to be a few rays of sunshine on the horizon. Phoenix and Tucson, in particular have seen prices stabilizing and this is good news for prospective buyers. The days of frenzied buying activity, multiple bids are over as people are not willing to jump onto the property ladder at any price. Realism has entered the market. Home sales are down and the number of days a property is on the market has increased.
Confidence is returning to the market as the nightmare scenario predictions for 2006 failed to materialize. The market didn’t crash and the economy remains strong. People who were putting off their purchases feel that this is the right time to make their investments. Sellers have to remain patient as houses which are correctly priced and are attractive are still selling. Arizona realtors are positive about the outlook for 2007 and although we won’t see double digit growth rates, there will be increased activity in 2007.
Some tips for sellers
Price – Perhaps the most important factor when trying to sell your home. Accept that the market has entered a new phase and that you’re not going to get the prices that were standard a few years ago. There are less buyers around and more choice for them. Homes which are priced sensibly will still sell but be aware that buyers are more likely to negotiate hard now.
Curb Appeal – First impressions are key and people usually make their first impressions within the first 30 seconds. Spruce up the front of your house and garden. Spend a little extra time on planting new flowers, painting the front door and clearing any rubbish that may be lying around.
Home Improvement – Nowadays, buyers are less likely to want a ‘fixer-upper’ so finish all those little jobs that you’ve been meaning to get around to and spend a little time to make small improvements to your home.
Clutter – Most people do not want to see piles of CDs or books so tidy them away and give your home a good clean as this will give a very good impression of your living spaces and make them look more spacious
Sellers will need to be patient and work that bit harder for a sale but remember that Arizona realtors are reporting that, realistically priced homes are still selling.
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