Market Slowdown?

This time last year there were less homes on the market than there 1 year later. We experienced a shortage, where in anything gives into supply and demand. Less available makes more people desperate to find that good deal. Some buyers were frantically searching for the right home, making several offers, losing out to investors, waiting months on short sales and getting anxious trying to find the right home for the right price and in a decent amount of time. Today 1 year later there are more choices, more traditional sales, more builders introducing more inventory and new subdivisions. The competition is elevated and sellers are not selling their homes in hours, 3 days, 5 days and 10 days right now. Homes are now selling average between 90-120 days after hitting the market MLS. Wow this a complete change from last year at this time, and could be quite disheartening to you as a seller. As a buyer, you are having more choices presented to you, but you are almost concerned about the homes that are on the market longer than a few weeks. Many clients say to me- "what is wrong with it". Even though it can be a great looking home walking in, some are afraid that if it didn't sell right away there must be a problem. I try to explain economic slowdown, but when some houses are still selling in a matter of a few days, it makes those that aren't look bad. This is a normal market. I stress that sometimes markets need a break to rest, rejuvenate, and re-set themselves to a normal supply and demand capacity. When doing this there are such pockets of areas that will still sell quickly and those that will take a lot longer. Why the slowdown? In racing is called a "pit stop" in stocks it is a "correction", in sports it is a "time out"! In order for the market to perform the best over a long period of time and not experience the bursting bubble, the unnecessary run up of pricing or false inflation caused by creating high values in a short period of time that are not sustainable, these "breaks" must occur. Days on market will grow longer, competition will be stiffer and patience will be needed by all. If you are in the market to buy or sell, ask yourself why? Is there a perfect time to buy and sell? Usually not, it is usually one or the other. If you are selling market your unique feature, lower your price, offer something no one else is. Entice the buyer to pick you over the neighbor. Last week in most east valley cities average days on market rose to over 100 which means your home may not sell quickly... but know that is normal. If you need to sell more quickly, you need something no one else has or your price needs to reflect your urgency. At this point in the market in most areas, you can not as they say... have your cake and eat it to! If you are looking for what your home will realistically sell for in this market, call a Realtor today to get a consultation. We are the experts who will help you understand the market in your area and devise the best plan for you to sell within your expectations.

Seller Anxiety

For all of you sellers and potential sellers out there. Good to know... I am now a true seller. I bought my home young and have lived in it quite a while. Have I bought and sold properties in the past 13 years of being in Real Estate? Of course I have, but never my own personal property. I am good at consulting with sellers. Telling them all the ins and outs of what will help them better sell their home, how to be prepared, little touches, minor changes, all the little things that make it more "show quality." In saying this I am extremely hard on myself on how my house presents itself to potential buyers. My clients often times get nervous when they know a showing is going to happen, scrounging around at the last minute to pick up the house, make it look perfect for a showing and may turn into an anxiety stricken seller in the meantime. Often times I try to calm sellers and let them know that the buyer is there to see the home, not their stuff. To relax and not freak out for showings. Stay picked up as much as possible but buyer's will understand that the home is lived in and that no one expects it to be perfect, however they can do their best and if it is meant to be then it will happen. I always say the days that they forget to make their bed or there are extra dishes in the sink, their dog got into the garbage or their kid tracked mud through the house on the one rainy day is when someone will look and often times want their house. It isn't a big deal I tell them, if someone really wants your house they will make an offer no matter what your mess at the time is. I still believe this is true. However, after 12 years of living in my home, accumulating things, having 2 big dogs, 4 chickens, 1 guinea pig, 1 tortoise and a 4 year old, my house is lived in.... but I can proudly say I NOW know what it is like to be that anxiety stricken seller trying to make their house look as best as possible in the small amount of time I have before each showing and it really is a crazy feeling. No matter how many times I have told my sellers not too worry, to relax and go with the flow, to do as much as they and let the rest go- I am really that seller that freaks out trying to get prepped for that showing that may/may not be my ticket to a successful sale. Wow what a wake up call. I think I am now prepared to take my consulting to a different level. To offer more support and understanding to what these sellers go through to prepare their homes for that right buyer. Be prepared for Dani, the agent that not only gives you the best consultation and advice when selling your home, but someone who is now in your shoes. Happy Selling! If you want a free home evaluation, call or email me for details.